The Challenge

A leading retail company for consumer product goods (CPG) wanted to understand the effectiveness of their digital marketing efforts in order to better understand their customers and drive performance-based marketing to maximize their return on investment. Elder Research was tasked with assessing the effectiveness of various types of paid product ads and determine the relative value of Google paid search keywords to determine which keywords were overpriced.

The Solution

Elder Research developed sophisticated KPIs, including start and completion metrics for video ads, and generated an easy to understand Video Exit Score that allows our client to evaluate digital marketing spend and return on investment on different market segments. To determine keyword value our team analyzed data from the client's Google Analytics API and AdWords reports. Two keyword pricing models were built to define a market value for keywords based on observed cost for similar website activity and assigned dollar values to particular online interactions based on input from industry experts.

Results

Post promotion analytics enabled the client to optimize market spend and trade promotion mix for company-wide success while improving value to consumers. Our team Identified under-performing ad characteristics, resulting in greater return on investment. Elder Research was able to identify an under-performing ad characteristic that corresponded to a 55% decrease in click-through-rate (CTR).

Our keyword pricing models uncovered overspending in 25% of our clients’ paid search budget and discovered that four of the top ten clicked keywords were overpriced. Our team developed a Power BI dashboard that allows brand teams to quickly visualize the most and least effective keywords.