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Global Health & Beauty brand excellent makeup and high-performance beauty products that are eco-friendly, easy to use, and cruelty-free. However, staying ahead in the Health & Beauty space requires to leverage an aggressive promotional strategy to differentiate in the competitive landscape. To help optimize Google Shopping strategy during promotional periods Global Health & Beauty brand leaned on GrowByData to help provide data, insights and recommendations to stay ahead of the competition.
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As the Health & Beauty brand team continued to aggressively promote during promotional periods, they noticed record highs in Ad Spend and CPC with each new promotion. As with all great Digital Marketing programs, the account team wanted data to support the incremental benefit of these budget increases. With tools previously available to them, this was a question they couldn’t answer.
Savings to Reallocate
By combining GrowByData’s powerful marketing intelligence with Professional Services, GrowByData and the Account Team of the Global Health & Beauty brand put together a custom analysis that aggregated Share of Voice by incremental CPC compared to non-promotional periods. The data showed that once CPCs were increased by more than 2X, Share of Voice plateaued and even dropped in some cases.
This analysis showed that they could continue increasing their CPC and paying more for each click, but they didn’t get any more Clicks or Impressions. By capping their incremental bidding strategy during promotional periods to 2X the non-promotional bid level, the account team analyzed that capped bidding tactics will reduce ad spend by 33% which can allow them to allocate approximately $52K in ad better spend to other periods that will drive more profitability or visibility.