Certain industries (such as fitness or streaming services) saw sales increase in the second quarter due to COVID-19. As some regions are slowly reopening, sales are likely to have decreased. As an ecom marketer, my job is to increase ROAS and sales as much as possible regardless of demand. My team and I were recently challenged to find out how to maximize sales and ROAS for a fitness equipment brand that emerged from the peak demand in the second quarter.
Curious how we mastered the challenge? Look no further!
Here are 5 steps we've taken to maximize ROAS and revenue.
1. Do your research
See where you can expand keywords. First carry out a search term analysis.
(If you need more information on how to do a search term analysis, Chloe Pascoe wrote a wonderful blog on the subject: Search Term Report: Why and What to Look For.)
This way you can find out which users have searched to trigger your ads. From there, you can expand or remove keywords that are beneficial for increasing traffic.
Google Trends tells you how often a search term is inserted in Google compared to the total search volume. Below is a screenshot of the performance for the search term fitness equipment. This graph shows that searches peaked during COVID and then slowly decreased. We considered these trends to be relevant in our sales and revenue, indicating that the increase and decrease overall represents a decrease in search queries on Google.
Trend towards finding fitness equipment based on COVID-19
2. Increase non-brand and brand keywords
According to your research, are there any non-brand or brand keywords that you can use to expand the reach of your brand? Both Google Trends and search term reports show you what users are looking for. The dates don't lie! Make sure you also add negative keywords to minimize irrelevant traffic. It is also helpful to conduct an audit to ensure that there are no gaps between the products your brand sells and your ads that represent all of the inventory.
3. Offer free resources
This varies from company to company. However, if you can offer resources such as a free training video or a free trial, customers will get insight into your brand. Be sure to be aware of what you can achieve by using this download. Will an investment in your program help you lose a few pounds or gain muscle? Tell them! Put yourself in the shoes of your customers and give them what they want, and help them understand why your product provides this for them.
4. Add target groups in observation mode
I am a big supporter of a custom affinity audience. Place the audience in observation mode first, as this ensures that the range is not restricted. Once you've got data from observation mode, you can target your ads to the people who get the best results. This way you ensure that you are driving high quality traffic to your website.
5. Optimize your bid modifiers
With Google Ads you get insights into your customers such as gender, age, location, income level etc. (click on Demography and / or Location in the side menu). Placing bid modifiers for highly concentrated demographic data also increases traffic quality, provided your products are more popular in certain demographics than in others.
Overall, our research has shown that we missed a few opportunities outside of the brand. Our focus was mainly on branded keywords, but a lot of the potential customers were looking for non-branded products. We were also able to identify some brand areas where we had the potential to expand. If we can identify these missed opportunities, the brand name will grow overall.
Hopefully these tips will help you in your next search for more sales and / or ROAS.
Unprecedented times require a shift in the status quo. By following these steps, you can redirect your strategy in difficult times.