Business Overview: India’s premium watch reseller, which sell watches of premium brands such as Rado, Rolex etc. Average order value is approx. INR 1.5 Lakh
Highlights of case study
- Cost per transaction reduced by 90%.
- CPC reduced by 58%
- CTR increased by 40%
Challenges
- As average order value is very high and client products made for a very niche audience in India.
- Increasing the number of sales, while keeping the cost per lead low
- Targeting luxury segment customers
Solutions
- Analytics: Technology adoption and device usage report helped Lyxel Labs to target different devices across different geographies thus optimizing costs while maximizing transactions.
- Audience: Lyxel insights using technology adoption and device usage report helped arrive at the ideal device mix based on the target audience. By developing relevant ad messaging, the client could achieve a steadily increasing inflow of potential customers.
- Account Optimization: The team set out to improve CTR in order to raise quality score. For that end, they had to take measures for tightening the search term / Ad copy / Landing Page – flow.
Results
- The client achieved a 14x growth in the number of transactions on a per day basis
- Cost per Transaction went down significantly by over 90% greatly increasing the effectiveness of budgeted Digital Marketing spends
- Within two months, we have improved the CTR by 40% and CPC reduced by 58
Takeaway: Enable accurate evaluation of customer lifetime value in order to improve targeting and budget allocation.
Above visualizations have been done using Tableau Software. If you need any help and support regarding Tableau dashboard development, please connect with me at deepak91g[at]gmail[dot]com
Reckon Analytics 