Goals: Clearly state your marketing goals. What did you strive to achieve using this piece or program?
The primary goals of the campaign are twofold. First, our objective is to position the brand as an industry leader by staying at the forefront of new social offerings in the travel sector. Leveraging our unique opportunity as a participant in the Beta test for catalog sales campaigns on Pinterest, which was initiated with the support of a $20,000 bonus media investment, we aimed to showcase our commitment to innovation and engagement. We meticulously analyzed the data from this test to optimize our approach and refine our strategies for future campaigns.
Secondly, the campaign's data-driven focus extended to our retargeting efforts, where we prioritized conversion optimization. By employing a robust attribution model that included 7-Day Click and 1-Day View platform attribution, we ensured our ad spend was directed towards the most effective touchpoints in the customer journey, ultimately boosting conversion rates and maximizing ROI. This data-centric approach allowed us to make informed decisions, adapt in real-time, and deliver exceptional results for the campaign.
Results: Which of your original goals did you achieve and how? How did you measure the effectiveness of the piece or campaign? Entrants should provide quantifiable results of their tactics or campaigns. (for example, click through rates or ad equivalency)
To measure the effectiveness of the campaign, we analyzed key performance indicators (KPIs) including Return on Ad Spend (ROAS), Click-Through Rate (CTR), Cost Per Click (CPC), Impressions, and Clicks. In the first month, when targeting a list of past site visitors, we achieved a ROAS of $2.66. However, once the pixel had gathered enough data signals, we unlocked the dynamic retargeting capabilities within the campaign. This strategic adjustment led to $8.26 ROAS, representing a 210% increase compared to the initial campaign. Our CTR of 0.34%, CPC of $7.06, 1,671,601 impressions, and 5,659 clicks further demonstrate the campaign's success. These results validate our data-driven approach and underscore our ability to adapt and optimize for maximum performance.
Return on Investment: How much revenue has the piece or campaign generated and how does this compare to your goal? What was the return on investment?
The campaign generated significant revenue, surpassing initial goals. Leveraging a 7-Day Click, 1-Day View platform attribution model, we achieved a Return on Ad Spend (ROAS) of $8.26. This means that for every $1 spent on advertising, we generated $8.26 in revenue. This demonstrates the campaign's effectiveness in driving revenue.
Comparing this performance to our goal, our initial aim was to achieve a strong ROAS, but we set a conservative target of $6.40. However, we exceeded this target by a considerable margin, indicating the campaign exceeded our expectations. The campaign's ROI showcases the value of our data-driven strategy, making it a resounding success for the brand.
Entry Title
Best Western® Hotels & Resorts 2022 Campaigns & 2023 Spring/Summer Promo Pinterest Collections
Division
Digital - Social Media Campaign