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The grocery space is known for its razor-thin margins and competitiveness especially with big companies like Amazon and Walmart entering the online delivery space. Mylk Guys wanted to scale its online Vegan grocery store without having to finance too much of its growth. Because they’re a venture-backed startup, they wanted to put up aggressive sales numbers while prioritizing efficiency. They had run some Facebook and Google ads before but they weren’t able to scale budget efficiently – every time they tried to increase spend, they saw their customer acquisition cost dramatically increase.
After assessing platforms we decided to focus our efforts on Facebook ads. We found that by emphasizing the products they sold, the filters on their site, and using fun, interactive product creatives, we could increase click-through rates on ads which really helped to combat higher CPMs (cost per impressions) on higher spends.
We also broke out the audiences to make them more granular and implemented a more aggressive retargeting strategy. By breaking out audiences we were able to get a higher distribution on our lists. We also set up systems that allowed us to continually tests new audiences which would help us scale even further. Our retargeting strategy really helped on the efficiency piece and we saw cost per acquisition decrease dramatically after 1 – 2 weeks. This allowed us to 6.4x spend while increasing efficiency by 20% – something that’s extremely hard to do especially for niche audiences.