ABOUT TURQUOISE MOOSE
Turquoise Moose is an online seller of turquoise stones in various shapes, sizes, and shades.
The business also sells unpolished gemstones to buyers with an artistic flair who want to polish and cut them to create their own custom-designed shape and size. The company’s clientele is spread predominantly across the USA along with 30 other countries.
Turquoise Moose came to us with the following problem statements:
Customer Acquisition- Advertising campaigns on social media weren’t giving satisfactory performance, especially:
the CTR (click through rate) for the ad campaigns was very low at 0.3%, which made overall website traffic extremely expensive and unprofitable
the Average Order Value (AOV) was lower than where the business needed it to be
Repeat Purchases / Customer Engagement- Inability to secure repeat orders, hence the LTV (lifetime value) of customers was low.
STRATEGY Priority 1: Action Steps to address Customer Acquisition The immediate problems for the business were to address ad campaign performance, especially CTR and AOV. This also meant that the business needed to have a clear idea of the performing assets including products that were performing better than the others Solving for ad performance involved the following:
Dividing the campaigns into different funnel stages - ToF, MoF & BoF (top/middle/bottom of the funnel) to ensure targeted messaging for customers in various parts of their journey. It also aids with ease of analysis and specific testing with respect to the conversion funnel stage
Finding a compatible set of interest-based audiences for the ToF, testing lookalike audiences (on FB/IG) of engagers and specific retargeting of warm audiences. We also created specific retargeting campaigns of existing customers, to improve the repeat purchase patterns and improve LTV of our customers.
Being an inventory-oriented business, Turquoise Moose had not tested different types of content pieces with their ads. We started off by leveraging Facebook’s Dynamic Content Testing feature, followed by collection ads, catalog ads, carousel ads etc.
We tested out different content formats & themes like videos, complex carousels with text as opposed to usual product display carousels tested in the account earlier.
We even conducted rigorous content tagging to tag each piece of content that was used or was in the pipeline to be used, tagged for Primary text, creative, headline and description.
This allowed us to achieve a depth of analysis where could track performance of content pieces that had, for example, “ product feature “ as the theme for primary text, headline & description and were Carousels, specifically in the ToF
Or for example analyze the performance of content where descriptions used was oof the theme “ Hooks/Sale” with the creative being a Carousel without text.
With creative testing, we more than tripled their CTR, which means that for every $1 spent, we have 3x more people coming to the website through our ads. We went from 0.3% to 1% outbound CTR within the first 3 months. Ensuring that we maintained (and improved the website conversion rate), we were able to significantly improve the ROAS for the brand.
This was required to streamline product testing which helped us find the best performing product-types that can then be leveraged.
For this, we created product sets based on different product attributes specific to the business like shape of the stone, color of the stone, origin mine and AOV that was then analyzed and presented.
The 4 product sets were then tested against the performing audiences and content combinations across the 3 funnel stages. The objective was to find the winning combination and scale it.
These efforts resulting in an upward trending AOV graph and in Q4 2021, the AOV stood at $216 with $21K in purchases at a ROAS of 5.6
Priority 2: Action Steps to address Customer Retention
The primary focus here was to have a successful post purchase strategy, meaning we had to build a path that would bring back existing customers to the store to make their second, third and subsequent purchases, eventually improving the customer lifetime value (CLTV). We implemented campaigns for extensive content testing in terms of both the communication and the ad creative that would be compatible with the audiences that have already purchased from the brand.
The post purchase campaigns we set up generated ROAS as high as 78 which the business was missing out on. The CPAs continued to decline as well after the recent surge during the testing phase settling at an average of around $10.
Priority 3: Action Steps to Increase business AMR (average monthly revenue)
Since the business is in a niche with a limited audience size, we conducted evaluations and provided a logistical feasibility report for the brand to expand into new geographical areas apart from the US.
This helped add in more audiences to the ToF, which meant more customers being acquired
The brand is now selling in European markets as well, in addition to US
Apart from (black friday / cyber monday) BFCM, the business was not leveraging the ‘on-sale’ strategy, which we hypothesized would work exceptionally well for a B2B stones seller.
We created a sale strategy for the business with details like yearly sale calendar, occasions, campaigns and messaging around it to conduct the sales at, pricing strategy, content themes & formats to use and audiences to target in specific (audience type, platforms, placements etc)
The sales we conduct now are in the US as well as in the European markets depending on the occasions
Below is a snapshot of comparison of performance of the account during the BFCM sale 2020 VS 2021
Hear from the founder herself!
Tealbox Digital understood our problems and requirements well. They gave us clear solutions and lined up a great map to work for us for our online success. They continuously refined and updated their reporting process, which provided a lot of insightful and expert advice.
Today, we are growing at a huge scale because of Tealbox Digital. Our joy knows no bounds. Thanks to the powerful team of Tealbox Digital - Li
ABOUT TEALBOX DIGITAL
Tealbox, a data-driven performance marketing agency,, has helped its clients leverage digital advertising to build and scale their customer acquisition funnels, thereby scaling their businesses.
We help small and medium digital first businesses from diversified niches & geographies solve complex growth and marketing problem statements pertaining to both the Acquisition and Engagement/Lifetime Value of the business.
Operating across 4 continents, Tealbox is a data-driven, automation and tech-based business. We leverage paid media to help clients enhance their digital footprint, thereby attracting investors and customers.
If you are an online business wanting to expedite your digital growth journeys, get in touch with us Tealbox Digital