Capturing the top of the mind recall of customers through Marketplace events for Paragon Footwear

OVERVIEW: 

Through Sale events, Marketplaces provide the opportunity to sellers to participate and promote their products to their wide audience. The objective is to encourage sellers to provide higher discounts to their customers enabling higher traffic on the platform while benefiting the seller in the form of higher revenues.

India’s leading Footwear brand Paragon partnered with Tenovia to increase their sales and generate awareness among online shoppers.

THE CHALLENGE:

Running regular marketplace campaigns is an ongoing activity for Paragon. However, they were keen on winning eyeballs and establishing themselves as the leading footwear brand among the e-commerce audience. 

Being a Footwear brand that faces stiff competition, our challenge was to increase campaign performance without impacting the ACOS during events.

APPROACH: 

With a data-driven approach, we thoroughly analyzed the performance of the monthly ROS for BAU and compared it with Event days. It was observed that ROS was higher during event days across all channels. Events were found to be more effective than BAU days, almost up to 300%. 

To gain a competitive edge, we also analyzed KPI’s such as conversion rate, top-selling products, best-selling time and day, average order values, past performance, and event-specific keywords.

Summarizing the data, we arrived at three aspects:

1. Product: Promoted top-selling products with strategic discounts
2. Design: Designed visually appealing multiple creatives that included model-shots
3. Content: Ad copies focused on keywords and discounts 

RESULTS: 

1. 54% increase in event revenue in the first quarter 
2. 30% MOM growth in event ROS which is also an all-time high