ThriveCo is a cosmeceutical brand offering evidence-based hair and skincare solutions for diverse beauty concerns.
We have moved from a complicated Account structure of 15+ campaigns to a simplified account structure focusing on clear campaign objectives.
One ad set with one ad by understanding the winning theme, communication.
Tested Multiple interest with multiple winning ads.
Identified the product level CPA and ROAS targets and set up different bids for each product.
ASC can help you reach a wider audience and get a lower CPA.
Separate campaign with open, stack-winning audience & retargeting audience ad set to test offers.
This is the First Evidence Based Results Brand having two categories-Haircare range-which is their wining category and the other category- Skincare Category.
Last 6 months all products cohort
In the Month of December the number of new customer aquisition was 36251 out of which 10.8% people have come back and bought in the same month itself i.e in Month 0 which is the highest comparing past months, which means we have aquired quality customers whose retention rate is high.
Here is the data of last 6 months % of repeat orders in terms of No. of days-According to the analysis 16% of repeat orders in a time span of 0-4 days.
Here is the data of last 6 months product wise of –
1. ATST OFFER – Offer – Upto 50% Off + Extra 15% Off (1st – 7th December)
2. Buy any 2 products at just Rs. 1299 + Freebies (13th – 14th December)
3. Buy 1 Get 1 product free + Freebies + 3% Instant Discount on every order
4. Evergreen Offer – Rs. 200 OFF on First Purchase – THRIVENEW
The Evergreen coupon of THRIVENEW in Last 6 Months has been used by 32528 new customers and the repurchase rate is 14%, and Rs. 822 accumulated sales per customer in their first order, adding to that around Rs. 948 accumulated sales per customer in the same month of their first purchase.
When we run bid cap campaigns on Facebook, we’ve noticed a challenge. We set these campaigns with a specific bid i.e 1.5X of CAC or 2x of CAC, but throughout the day, the cost of acquiring customers(CAC) fluctuates. Sometimes, the CAC is lower, meaning we could potentially get more conversions for less CAC. However, we’ve observed that Facebook doesn’t always spend as much as it could during these periods of lower CAC. This results in missed opportunities to maximize conversions at a lower cost.
We tackled the issue by creating an Hourly bid cap campaign in our account. This clever setup allowed us to adapt our bids based on the changing cost of acquiring customers(CAC) throughout the day. Essentially, when the CAC was lower, we increased our bids, enabling us to spend more budget during these optimal times for acquiring customers. Conversely, when the CAC was higher, we lowered our bids, ensuring we didn’t overspend during less favorable periods.
Here is the data of hourly bids that we have implemented in the 3 ad accounts based on their Hourly CAC.
Click to next slide to find out the steps to find out hourly bids.
1. Track Hourly Spends and Purchases: First, we need to find out our hourly Spending in the ad account and purchases per hour, which we can find from our Shopify data.
2. Calculate Hourly Cost of Acquiring Customers (CAC): Once we have that data, we can figure out our CAC for each hour.
3. Calculate Blended CAC: Next, we’ll combine these hourly CACs using a multiplier to get a blended CAC.
4. Find Average Blended CAC: We then find the average of these CACs.
5. Determine Bid Multiplier: This step involves figuring out how much higher or lower each hourly blended CAC is compared to the average. For Instance, if the blended CAC for the first hour is 15% higher than the average, that’s our bid multiplier.
6. Calculate Hourly 1-Day Click Base CAC: Now, we calculate the CAC for each hour based on one day click.
7. Finding out hourly bids: Finally, we find out our hourly bid value with help of Base CAC and Bid Multiplier.
Amount Spent – ₹1,178, 074.58
ROAS – 1.43
Conversion Rate – 6.69
CPA – ₹869
Amount Spent – ₹542,780.47
ROAS – 1.53
Conversion Rate – 7.09
CPA – ₹894
Amount Spent – ₹449,515.50
ROAS – 1.77
Conversion Rate – 4.37
CPA – ₹709
Amount Spent – ₹1125355.00
ROAS – 1.42
Conversion Rate – 5.32
CPA – ₹974
Amount Spent – ₹188,428.09
ROAS – 1.41
Conversion Rate – 4.52
CPA – ₹656
Amount Spent – ₹502,895.89
ROAS – 2.16
Conversion Rate – 8.93
CPA – ₹899
Amount Spent – ₹454,427.19
ROAS – 1.92
Conversion Rate – 8.72
CPA – ₹862
Amount Spent – ₹566,545.89
ROAS – 1.66
Conversion Rate – 7.97
CPA – ₹846
Amount Spent – ₹600,480.40
ROAS – 1.40
Conversion Rate – 2.97
CPA – ₹681
Amount Spent – ₹270,279.46
ROAS – 1.71
Conversion Rate – 7.40
CPA – ₹669
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