By importing their Google Display Network placement data, along with shopping cart data, Frank & Oak tracks Customer Lifetime Value by acquisition sources.
INDUSTRY: Fashion Ecommerce
LOCATION: Montreal, Quebec
Frank & Oak was facing a problem common among ecommerce vendors: how to quickly evaluate customer acquisition sources based on ROI. In particular, Google’s Display Network had proven to be a significant customer acquisition source, but Google’s built in tools didn’t allow them to evaluate sources based on important metrics: customer lifetime value, repurchase rates, and average order value.
IT Lead Raff Paquin recalls: “We tried most of the tools out there and whenever we implemented a new one our CEO was always screaming “try RJMetrics!” It was a big running gag because we knew that this tool was for the bigger guys like Fab.com but we dreamt of using it. One day, we just decide to try the free trial and never looked back.”
The implementation “was an amazingly fun process. We realized really fast that we weren’t just getting RJMetrics the tool, but also a deep knowledge of business performance measurement,” says Raff. Antoine adds “I’m almost in love with the analyst team. The service was really, really good.”
With RJMetrics, we’re able to isolate small, long-tail sites that have ROI that is 16x what some of the larger sites provide. And we can find these at scale.
Antoine Théorêt-Poupart, Acquisition Manager
With RJMetrics, Frank & Oak imports all of its Google Display Network placement data and the associated costs, and then ties this data directly to its shopping cart data. As a result, Frank & Oak can see all the metrics it cares about—Average Order Value, Customer Lifetime Value, and Purchase Frequency—for every single placement. And since he’s actively managing a portfolio of 500 ever-changing placements, Antoine says that “he doesn’t know how he’d do it all without RJMetrics.”
Now that Antoine has full visibility into his acquisition metrics, he’s been able to increase his marketing spend efficiency significantly. “With RJMetrics, we’ve been able to identify small, long-tail sites that have ROI that is 16x what some of the larger sites provide. And we can find them at scale,” says Antoine.
Without an automated solution providing this level of analysis, most companies are forced to focus on a small set of high-volume placements, driving down marketing efficiency.
Providing 16x return on our marketing dollars? Chalk one up to the power of data-driven decision making.