Online furniture store, competitive monitoring
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May 25, 2022 3:31 PM
Online furniture store, competitive monitoringElvira Sudiyarova
Leading specialist in digital marketing and online advertising at R-broker
Content:
Background Progress
Conclusions
How to increase sales and reduce phone number database advertising costs in a short time using an effective ad? Read about it in our case.
Background
In July 2021, a client approached us - a seller of furniture and home goods. With relatively high advertising costs, he was not entirely satisfied with the sales volume. The client was looking for ways to increase sales of certain types of goods, in particular bookcases. He set a task: the number of conversions from Yandex.Direct— increase, CPL — decrease, and the budget does not increase.
To solve the problem, we planned to identify the most significant and important offers on the market, so that based on their analysis we could create truly effective ads for the client. In this, we were supposed to be helped by the competitive monitoring technology - our own development "R-broker".
Progress of work
Analysis of client and competitor offers
How does the competitive monitoring technology work? First, the marketer analyzes the client's ads and those of his competitors. Then he identifies the most important components-offers for the given market. Each offer is assigned a weight - a degree of importance. Then the analytical platform ChatterBox, developed by the R-broker agency, is connected to the work. When properly configured, it parses the network (ads, texts on websites, customer reviews) and automatically recognizes a particular offer in the texts. The results are summarized in a table. From the table data, it becomes clear what set of offers should be present in the ad so that it surpasses competitors' ads in efficiency.
For our client, we analyzed 10 competitors' ads for the sale of shelving units plus one ad from the client himself. The list of selected offers looked like this: "Guarantee", "Delivery", "Price", "Installment", "Assortment", "Discount", "Production", "Assembly", "No prepayment" and "Promotions".
01.jpg
Marketer's Marketplace
We give discounts and promo codes for popular Internet marketing services, contractor services in Digital and training
The competitive table showed which offers are present in all competitors and therefore must be in our ad. For example, "Delivery" and "Price". From this table you can also see which offers are extremely rare, but important for buyers - and therefore can become a competitive advantage. For example, "Assembly" and "No prepayment".
Ad Correction
Based on the analysis of the results obtained, we changed the client’s ads – included mandatory offers and added competitive ones.
In doing so, we followed the principle of constructing “3 by 3” ads: the ad should contain 3 offers related to the product and 3 offers related to the seller.
This is what the client's original ad looked like:
02.png
This is what ours looked like:
03.png
Now potential buyers will receive the maximum amount of important information about the product already at the viewing stage. We assumed that the buyer would focus on this type of ad and prefer it to competitors' ads, whose information was not so comprehensive.
A/B testing
The testing was conducted for one campaign over 12 days (from August 11 to August 22, 2021).
After adjusting the ads, we monitored the dynamics of the indicators daily using analytics counters and platform reports. A/B testing ensured the purity of data collection. In this type of testing, new ad groups are added to the original ones, formed using competitive monitoring tools.
This is what we got in the end:
Before testing After testing
Number of impressions Tim Tors
Number of clicks 4 494 6 565
CTR, % 335 588
SRS, rub. 7.45 8.96
CR, % 31.38 30.99
CPA, RUB 0.29 0.85
Number of conversions 1 5
The number of conversions in the new ad variants increased 5 times. CPL decreased significantly.
Conclusions
Our ads were so effective that results were noticeable on the second day.
The new ad variants have increased CTR and decreased CPC. This is expected: CTR affects CPC. A number of studies note that high CTR rates are directly proportional to CR rates — the higher the CTR, the higher the CR. Our testing confirmed this.
In the new ads, the CR turned out to be significantly higher, and the CPL, as the client wanted, was lower.
We confirmed our hypothesis that conversion volume can indeed be increased through professional use of competitive monitoring tools. And we did it without additional costs or changes to the advertising campaign strategy.
In 12 days, we managed not only to increase the number of conversions, but also to reduce their cost by almost 3 times, and this is certainly a good result. Competitive monitoring helped to avoid most of the difficulties and achieve the set goals in the shortest possible time.
May 25, 2022 3:31 PM
Online furniture store, competitive monitoringElvira Sudiyarova
Leading specialist in digital marketing and online advertising at R-broker
Content:
Background Progress
Conclusions
How to increase sales and reduce phone number database advertising costs in a short time using an effective ad? Read about it in our case.
Background
In July 2021, a client approached us - a seller of furniture and home goods. With relatively high advertising costs, he was not entirely satisfied with the sales volume. The client was looking for ways to increase sales of certain types of goods, in particular bookcases. He set a task: the number of conversions from Yandex.Direct— increase, CPL — decrease, and the budget does not increase.
To solve the problem, we planned to identify the most significant and important offers on the market, so that based on their analysis we could create truly effective ads for the client. In this, we were supposed to be helped by the competitive monitoring technology - our own development "R-broker".
Progress of work
Analysis of client and competitor offers
How does the competitive monitoring technology work? First, the marketer analyzes the client's ads and those of his competitors. Then he identifies the most important components-offers for the given market. Each offer is assigned a weight - a degree of importance. Then the analytical platform ChatterBox, developed by the R-broker agency, is connected to the work. When properly configured, it parses the network (ads, texts on websites, customer reviews) and automatically recognizes a particular offer in the texts. The results are summarized in a table. From the table data, it becomes clear what set of offers should be present in the ad so that it surpasses competitors' ads in efficiency.
For our client, we analyzed 10 competitors' ads for the sale of shelving units plus one ad from the client himself. The list of selected offers looked like this: "Guarantee", "Delivery", "Price", "Installment", "Assortment", "Discount", "Production", "Assembly", "No prepayment" and "Promotions".
01.jpg
Marketer's Marketplace
We give discounts and promo codes for popular Internet marketing services, contractor services in Digital and training
The competitive table showed which offers are present in all competitors and therefore must be in our ad. For example, "Delivery" and "Price". From this table you can also see which offers are extremely rare, but important for buyers - and therefore can become a competitive advantage. For example, "Assembly" and "No prepayment".
Ad Correction
Based on the analysis of the results obtained, we changed the client’s ads – included mandatory offers and added competitive ones.
In doing so, we followed the principle of constructing “3 by 3” ads: the ad should contain 3 offers related to the product and 3 offers related to the seller.
This is what the client's original ad looked like:
02.png
This is what ours looked like:
03.png
Now potential buyers will receive the maximum amount of important information about the product already at the viewing stage. We assumed that the buyer would focus on this type of ad and prefer it to competitors' ads, whose information was not so comprehensive.
A/B testing
The testing was conducted for one campaign over 12 days (from August 11 to August 22, 2021).
After adjusting the ads, we monitored the dynamics of the indicators daily using analytics counters and platform reports. A/B testing ensured the purity of data collection. In this type of testing, new ad groups are added to the original ones, formed using competitive monitoring tools.
This is what we got in the end:
Before testing After testing
Number of impressions Tim Tors
Number of clicks 4 494 6 565
CTR, % 335 588
SRS, rub. 7.45 8.96
CR, % 31.38 30.99
CPA, RUB 0.29 0.85
Number of conversions 1 5
The number of conversions in the new ad variants increased 5 times. CPL decreased significantly.
Conclusions
Our ads were so effective that results were noticeable on the second day.
The new ad variants have increased CTR and decreased CPC. This is expected: CTR affects CPC. A number of studies note that high CTR rates are directly proportional to CR rates — the higher the CTR, the higher the CR. Our testing confirmed this.
In the new ads, the CR turned out to be significantly higher, and the CPL, as the client wanted, was lower.
We confirmed our hypothesis that conversion volume can indeed be increased through professional use of competitive monitoring tools. And we did it without additional costs or changes to the advertising campaign strategy.
In 12 days, we managed not only to increase the number of conversions, but also to reduce their cost by almost 3 times, and this is certainly a good result. Competitive monitoring helped to avoid most of the difficulties and achieve the set goals in the shortest possible time.