We partner with an ecommerce bullion retailer to increase sales and build value through increasing audience targeting. After a three month test, we find a viable path forward for growth, increasing sales and expanding to additional platforms and ad types.
Bullion Max sells collectible gold and silver coins online and via phone at competitive prices by keeping overhead low, with a focus on customer service and building long term customer relationships. And as an online bullion retailer, their product’s pricing changes every 15 minutes, which is then pushed to their Google Merchant account. An estimated 20% of their sales are done over the phone, with the rest being done through their website.
BullionMax came to us looking to grow their online presence through PPC advertising. They were interested in testing how online advertising could help grow their business, and asked Delegator to offer a strategy roadmap and analysis to see if there was a path forward for potential success. With their main goals being to improve their sales, create more brand awareness, and reduce their Cost Per Order, Delegator needed to work with them to dive deep into the market segment that BullionMax was already operating within, as well as research additional avenues for growth.
Delegator’s organization and communication are outstanding.— CMO
BullionMax wanted to run a three month test with Delegator, as a proof of concept before moving into a longer-term contract. Their advertising efforts prior to our partnership had been less than stellar, and they were rightfully skeptical of the viability of paid online advertising.
Because BullionMax already had a presence on Google, Microsoft, and Meta, they were already working toward their goal of improving their sales and bringing down their CPO. So our first step was to assess the current campaigns and determine what needed to be changed and what was already working. We performed an in-depth analysis of the market and current campaign structure.
After completing the strategy review, we rolled up our sleeves and got to work making changes that would optimize BullionMax’s campaigns to hit their CPO goals.
We revamped keywords across the branded and non-branded campaigns on Google and Microsoft, and updated their Dynamic Search Ad (DSA) efforts and cleaned up their Google and Microsoft shopping efforts, as there were some pricing issues. With the major stumbling blocks out of the way, we began making even more granular improvements. We updated and set up tests for ad copy and extensions, added new campaigns to our Google non-brand mix, and added and tested new products to the shopping channels.
By focusing on these major items, we were able to tackle the most immediate issues BullionMax was facing and establish a solid base to grow from. The results started coming in from the three month test and BullionMax saw the value a data-driven, hands-on approach could offer.
With a brief three month test contract, Delegator and BullionMax had to have precise, clear communication in order to create a solid foundation to grow from. By the end of the three months, we had improved their Google Cost Per Order by 50%, Microsoft Cost Per Order by 30%, and put their Facebook Cost Per Order at $61. These results were exactly the improvements BullionMax was looking for, and determined to renew their contract for a longer period.
During the remainder of the year, we introduced new campaigns to our Meta campaigns, specifically on Facebook. These campaigns became known as ‘lifestyle’ campaigns and featured their festive coins. The lifestyle campaigns quickly made their top platform, driving the lowest Cost Per Order and driving the highest revenue.
We also continued to test various keywords on Google and Bing. These tests included broad keywords, new campaigns, and updating ad copy based on the price of gold and silver. All of these efforts gave us the final CPO improvement in 2022 of 69% on Google and 76% on Microsoft.
Lastly, we introduced Yahoo to the group during Q2. The addition of Yahoo brought in an additional $138K in revenue and had an average CPO of $24.
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