Summary
Revolutionizing Retail Media Advertising: Unleashing 41% Business Growth and a 29% ROI Boost with Advanced AI & Machine Learning - The Future of Smart Campaign Optimization and Profitability
Challenge
Marketing Challenge: The Indian hair oil retail market on Amazon is worth more than Rs. 2.4B & very competitive with 50+ brands trying to win share amongst shoppers in this category. With an always-on approach, the challenge was to drive topline growth & win share in the category influencing higher new-to-brand sales. Given the competitive nature of the category, >40 brands actively spend on platform to influence sales through sponsored search & other advertising solutions. Within this cluttered space, it was challenging to ensure always-on optimization delivering topline growth, efficiently outsmarting competition brands.
Objective
To Drive topline growth on Amazon platform & win market share within the category, optimizing media campaigns to ensure improvement in efficiency metrics - ACOS, CR%, CPA
Strategy
Empowering our media campaigns with AI, we integrated our AMS console with PiWheel's Media Optimization Tool for continuous, real-time optimization. This strategic move enhances bid auction dynamics and campaign prioritization, elevating our advertising efficiency and effectiveness to new heights.
Data
Utilizing PiWheel's data and media optimization tools, our strategy harnessed the power of machine learning to analyze category and shopper behavior, pivoting towards a more data-led media approach. This integration allowed for an in-depth understanding of consumer trends, enabling us to target our ads more effectively. PiWheel's AI capabilities were instrumental, running thousands of real-time optimizations to enhance ad relevance and efficiency. This synergy of AI-driven analysis and optimization resulted in a dynamic paid search strategy, delivering efficient and effective outcomes by continuously adapting to market trends and consumer preferences, thus maximizing our return on investment.
Solution
Our media optimization tool stands at the forefront of digital advertising innovation, championing three fundamental drivers that are revolutionizing the way businesses capture market share and optimize their media spends. Firstly, it's designed to strategically capture market share profitability by launching impactful campaigns that drive tangible incrementality in business influenced by ads. This is not just advertising; it's a powerful tool for business growth. Secondly, the smart campaign optimization feature is a game-changer. It employs a sophisticated machine learning model that harnesses a variety of data points, including performance data, traffic, shopper behavior, and seasonality. This model doesn't just optimize - it smartly adjusts bids and campaign budgets in real-time, ensuring that every dollar spent maximizes sales at the lowest cost possible. Lastly, our tool excels in efficiency with its time and metric-based scheduled actions. By leveraging both time (like day-parting) and critical metrics (such as ACOS and conversion rates), it ensures optimum campaign delivery. This feature is pivotal in reducing media spend wastage, making every moment and every metric count towards achieving the highest ROI. In summary, our media optimization tool is not just a technological advancement; it's a strategic ally in the competitive digital landscape, driving profitability, efficiency, and smarter decision-making in real-time
Results
The Media Tool effect: 725K optimizations & ₹ 697K bid savings Business outcome: 41% growth in business on Amazon 16% improvement in Market share Media outcome: 5% Lower Ad spends 15% improvement in CTR trends 21% improvement in CPA 23% growth in Ad sales 29% ROI improvement 58% growth in Incremental sales
