November traditionally has been a nerve-wracking, but exciting time for DTC brands and their agency partners. Black Friday and Cyber Monday (BFCM) can make or break a Brand’s revenue goals for that fiscal year.
After countless hours of planning and executing ad campaigns with our Brand partners, we are proud to share that over 90% of brands that partnered with HYPE10 achieved positive net revenue growth in November of 2022 against historical performance; all while maintaining or improving their overall paid media ROAS. This is even more notable given increased competition for ad space on paid platforms, which has increased delivery cost year over year.
Here’s how we did it:
- Instead of aligning on a preset budget for the month - we partnered with our clients to focus on profitability KPIs. These ranged from business level MER to GA attributable ROAS.
- With these new “North Stars”, we agreed to aggressively invest so long that we hit our profitability KPIs. The intention was to ensure efficient spending of every media dollar
- To track the efficacy of our strategy, we developed a daily revenue and KPI tracker that connected with the clients’ book of business.
- The daily revenue and KPI tracker kept the clients informed regarding MTD and daily performance against the already established profitability KPIs
- Reports were pulled down 2x / day, which allowed for us to quickly pivot on investment allocation and strategy when needed. This was especially helpful given how critical this month was for our clients’ revenue goals
In addition to innovative investment strategy and real-time KPI tracking, we also equip our clients with BFCM accelerators.
We’ve developed a BFCM playbook that highlights different types of strategies to help brands ramp up for November. These strategies cover creative examples, in-platform optimizations, investment planning, cross-channel collaboration, and landing page optimization. Sample recommendations from this playbook include:
- Deploy video view objective campaign 2-4 weeks prior to the sale to build remarketing audiences early
- Repurpose the previous holiday shopper CRM list
- Build lookalike audiences as supplementary campaigns to scale the overall account during BFCM
- Leverage reach objective campaign to target remarketing/retention audiences during the final days of sale with last chance messaging
Thanks to the hard work from both the brands and our account managers here at HYPE10. We achieved great success during 2022 BFCM and look forward to achieving more in 2023.