Brandao
About The Company
Another's Legacy is one of the biggest vintage jewelry retailers in Northern Europe. The company focuses on high-end jewelry made of real gold and has a yearly revenue above €1 million per year.
Located in one of the fanciest streets in Copenhagen, the store (which also has an e-commerce version) sells jewelry from the most exclusive designer brands made of real gold, like Geneve, Hans Hansen, Gucci, Pandora, and Ole Lyngaard.
The Challenge
The company was struggling to increase sales through Meta and wanted not only to reach new audiences but also establish a retargeting strategy. There were already campaigns running on the platform for a cold audience, but the cost per acquisition was too high, which was making the campaigns unprofitable. The company also wanted to implement an effective retargeting strategy, as no retargeting had been in place at the moment.
The Strategy
Several steps were taken in order to decrease cost per acquisition and increase sales. 3 campaigns were created:
1- Prospecting - Targeting a cold audience and divided into 3 ad sets: broad targeting, interest targeting, and lookalike of customers. This campaign received 70% of the budget initially, as the priority was to bring new customers to the company.
2- Retargeting (all) - All warm audiences were included in here: Facebook and Instagram engagers, website visitors, email list, etc. In the retargeting audience different strategies were tested: giving a discount, not giving a discount but reminding the customers that each piece of jewellery is unique and once they are gone, they are gone forever etc. This campaign received 20% of the budget.
3 - Retargeting (add to cart) - With that being the warmest audience, they received a special offer to give the final push into the purchase, especially if they were budget-constrained. These ads were carousels that would show the exact products that people abandoned in their carts. This target audience was created via an integration in Klaviyo and ads manager as an ongoing flow, so every time someone abandoned something in the cart, Klaviyo would put that person in the retargeting audience to see a special offer. That strategy is a way to bypass iOS14 restrictions.
Additionally, offline sales were integrated into ads manager, so we could also see if people who came in person to buy jewelry had seen Facebook ads within the last 30 days. Those sales would show up in ads manager, giving a more realistic picture of how many sales were coming through Facebook ads.
Results
The campaign achieved impressive results already from the start. In just 2 months, the sales already had increased 3.5 times in comparison with the previous period, the ROAS went from 2.68 to 7.20 and the cost to acquire a new customer decreased by 55%.