Boosting Revenue and ROI through an algorithmic approach to Paid Social
Founded in 2004, eleven was one of the first Swedish ecommerce players in the cosmetics industry. By offering a mix of established high end brands with exciting newcomers, eleven has continued to excite their customers.?
By adopting a more algorithmic approach to Paid Social by consolidating conversion data and feeding Facebook’s machine learning with more signals, Docklin managed to increase YoY revenue by 59% between September-November 2020
Through leveraging the full weight of Facebook’s algorithms to target more relevant and in-market audiences, Docklin managed to significantly improve profitability despite the dramatic increase in revenue. During September-November 2020, we saw a 61% drop in COS YoY.
A major strategy was to target the right people with the right content in order to improve engagement and sales. By targeting more relevant audiences and personalizing ads based on intent, CTR increased 38% YoY between September-November 2020.
E-Commerce Manager, eleven
Algorithmic approach to Paid Social
By changing the account structure and consolidating conversion data, Docklin gave Facebook’s algorithms more signals to improve targeting. On top of that we ‘fed’ the algorithms with valuable first party data in order to leverage as much smartness as possible.
Focus on personalization
With a wide product assortment across many categories, it’s important to tailor content based on as many signals as possible. By developing segment based creatives, based on interests and previous actions, we managed to get the right message across to the most relevant audience.
Dynamic and test oriented approach to creatives
A successful Paid Social strategy often requires a tight link between creators of ad content and the data nerds who manage the campaigns. This has been a key success factor for eleven and Docklin. We have a continuous dialogue regarding creatives based on what the data says and can therefore quickly test and evaluate different creative strategies.