Since 2003, Openbox.ca has lead the used electronics market within British Columbia. Starting out selling used computer parts, Openbox was able to secure lucrative contracts with large companies to repair and resell their electronic item returns. This eventually lead to the birth of a completely new class of electronics: "openbox", not "used".
By definition, an "openbox" product is one that has been used typically for under 30 days. Because big-box electronic retailers have a shorter return policy for their electronics items, most of the items that Openbox.ca had in stock were lightly used, if at all. All of their items are either refurbished or returned within 30 days of original purchase. This also means that their products typically still have their factory warranty.
Social Media Marketing
One of the challenges with any electronics retailer is that profit margins on items sold are rather low. This meant that for our campaigns to be viable, we would have to ensure the highest level of profitability.
Fortunately, the expert media buying team at Latched Creative has developed unique Facebook and Instagram ads targeting strategies that ultimately produce best-in-industry results for our clients.
Unfortunately, Openbox.ca did not have a Facebook Pixel installed prior to the launch of our campaigns. This is challenging considering that Openbox has around 40,000 website visitors per month organically from Google Searches alone. None of these individuals were able to be retargeted to due to no Pixel being installed. Additionally, management at Openbox.ca expressed that they did not feel comfortable sharing raw POS customer purchase data with Latched (which is fair), so we were on our own.
Regardless, we were able to quickly install the Facebook Pixel and run some initial ads for the first month while we collected website visitor data.
After about 30 days, were had enough data to switch to our more profitable targeting methods (our "secret sauce"). Here were the results:
As you can see in this picture, after $1,296 CAD spent, we were able to garner almost $16,000 in revenue, resulting in a 12.26x ROAs (Return on Ad Spend; a ratio between revenue and ad dollars spent).
At Latched Creative, our digital marketing team is ROAs-centric. We care about generating our clients more revenue and sales. At the end of the day, conversions (sales) are what matter most, right?
If you're struggling with your digital advertising campaigns, or aren't advertising yet whatsoever, our unique "secret sauce" in-house Facebook ads strategy is bulletproof. If you have questions or want to learn a little more, let's get on a 15 minute discovery call with the lovely Latched Creative team.