Many years ago, it would have been impossible for marketers to “truly” focus on customer LTV optimization – but with the marketing channels we have today, and the technology available, the times have certainly changed for the better. In the fast-paced and highly competitive E-commerce space, advertisers need to take every advantage possible to capture the web traffic that converts for them.
Fast forward to today. Online retailer Pet Circle, based out of New South Wales, Australia, aims to help people care for their pets by making purchasing pet products as simple as possible. They are a leading brand for pet-related necessities, offering pet-owners the convenience of surfing and purchasing online. However, as a business, they still need to edge out their competition and hit their marketing and business goals.
Luckily one of their goals was to take happy customers and draw them back to the site over and over to service their pet-needs, plus build that brand-relationship. When the digital acquisition team switched over to QuanticMind, they were finally able to act on that.
The Pet Circle team are great marketers: “top shelf” and “very savvy at bid management” as their dedicated QuanticMind Customer Success team chimes in.
They had been focusing on Conversions and Cost per Conversion as important metrics from their PPC program. Like many e-commerce marketing teams, they also cared about maintaining a target ROAS while maximizing the purchases on their site. What was a bit more elusive – but still an ideal – was growing each customer’s lifetime value.
As the team worked and built a strong SEM universe, they started feeling the pains of scale and complexity of managing the growth. New campaigns, product categories, and all the subsequent requirements were taking up significant time; especially when considering they are performance marketers, focused on adjusting bids to really take advantage of the best conversions.
At a certain point, they needed to find a new solution – and that’s when they found QuanticMind.
The QuanticMind team takes action
The QuanticMind team was able to chip down to the core and discover the multi-faceted opportunity that the Pet Circle team had to grow their business. Together, the two teams scoped out a plan to save time, cut inefficient costs, grow revenue and conversions, and maintain efficiency goals.
But the speciality was even a step further: they discovered how to crack the LTV optimization code.
To address the issues of scale and complexity, QuanticMind’s platform was able to integrate with their current systems, crunch their data, and start automatically making bid calculations and bid adjustments for better results. At a certain point, manually managing paid search optimization can’t be done – the burden must be shared (and shared significantly) with a technology that utilizes more data in a more acute way.
QuanticMind applied its machine learning and big-data-infrastructure platform, which was able to learn the trends within Pet Circle’s search accounts and move the needle intelligently.
Unifying even more data for LTV optimization
To address the stickier challenge of optimizing towards customer lifetime value, QuanticMind again relied on its technology. The Pet Circle team broke-down what data sources were meaningful to their business, and the different means by which that data was created, captured, and stored. QuanticMind’s integrations specialist worked with the rest of the team (and the platform itself) to architect a solution.
The Pet Circle acquisition team fed in their backend product and transaction data and was able to map that to the profit margin and customer LTV data. This all was then stitched back to their Google Ads publisher data, plus all the colorful parameters that paint the picture around each click.
Pieced together, the data was integrated in a way that made it actionable. Not just to the human eye and human mouse-click, but to the same AI-powered system that is already calculating optimal bids across their program.
This newly integrated data set was immediately usable in the advanced algorithms that found trends, forecasted results, calculated bids, and automatically pushed those changes.
Executing on all of this unified data created the unique and new ability to accurately and automatically focus on the desired goal: LTV optimization.
Creating mutual value
By better targeting the customers who were more likely to make repeat visits and purchases, everyone benefits. Customers who enjoy the brand and have the intent of purchasing essentials for their beloved pets are encouraged to return to the site for more. Pet Circle is able to provide a positive customer experience and grow its revenue in an efficient and intelligent way.
This is the beauty of utilizing advanced technology for optimization needs: there is mutual value created. Some prefer efficiency, some prefer experience. Others simply need to make the numbers work to grow a business. Using data unification software built on strong infrastructure–in this case–was able to bring smiles to many people… and likely even some to the faces of some puppies, cats, and goldfish.
Check-out the Pet Circle Case Study and discover more about how QuanticMind made the data work for everyone.