[Case Study] How to Get 24x ROAS During Black Week
Preparation. Preparation. Preparation. When it comes to Black Week, the right level of preparation is the fundamental key to success. This case study explores how to get 24x ROAS during Black Week and walks you through our process.
Knowing how difficult the “black” period will be for us, we started having conversations with our colleagues and client nearly 3 months before the week itself.
We decided what creatives we are going to use, what offers we were going to utilize, and how the whole ecosystem was going to look like.
With the information gathered from the previous year, we were able to see that the CPMs went up by 2-3x on the cold audience, but didn’t go up as much for the warm audience.
Armed with this knowledge, we increased the budgets significantly to be directed towards individuals that had visited our website or engaged with our social media accounts.
You may have missed out on last year’s black week, but this year’s black week can be all the more successful.
The four fundamental steps we used for a successful Black Week are broken down here:
1. Facebook Messenger
We set-up a Facebook messenger ad (JSON ad), where people would press on it and would instantly receive a message asking whether they wanted to get an additional discount on top of our already huge sale (25-50%).
Once they pressed “yes”, they became our subscriber and we could send messages to them. We sent them a message 12 hours before the sale and another one on the morning of the sale. Subscribers were mainly from our warm audience (Engaged, website visitors, etc.). These reminders made customers more likely to make a purchase.
They cost us $1.5 each and we’ve collected over 350 of them.
2. Collecting Email Addresses
We did exactly the same strategy with Facebook Messenger as we did with collecting emails.
We managed to collect over 4.5k emails, $0.5 per each email.
3. Scheduled Facebook Events
Although we didn’t track it properly, we’ve created an event for black Friday. Once again, we targeted a warm audience and 237 people pressing “Going” and 1.2k pressing “interested”.
We did a few posts on the event and people received notifications about it.
This resulted in more traffic at the start of the event.
4. CBO Campaigns
Facebook really wants its users to use their campaign budget optimization feature as well as use a minimal amount of ad sets.
For the black week, we created 2 of them with 8 ad sets in each one of them, to begin with. Starting budget – 2.5k/daily.
While we weren’t too comfortable starting off with a 5k/daily budget, we instead decided to increase the budget in proportion to sales.
We plan to duplicate this strategy in future black weeks and hope you can mirror the same strategies in your own campaigns!
With the right dedication and preparation, it should be simple for you to capitalize on similar techniques and apply them to your own store or budget. Black Week is a prime opportunity to maximize leads for your business.
Be mindful of the strategies you are using so that you can reach your best potential in your store when it comes to ROAs.
Looking for more info on Black Friday to squeeze the highest ROI from your advertising budget? Check out our full article on eCommerce Black Friday strategies to see how you can generate 45% of your yearly income in just 3 months.