As a Growth Marketer on the Wayfair B2B team, my imperative was to increase the number of monthly customers acquired (volume metric) that paid back within a certain number of days (quality metric). The first paid-marketing channel that I owned was Search Engine Marketing (SEM) which included Google, Bing, and Yahoo. Unfortunately, the channel was not efficient and required 700 payback days when the target was 400 payback days ("pbd"). In a nutshell, I inherited a poorly performing marketing channel where the cost to acquire a customer was not made up by the revenue they generated.
Step 1) Bring SEM to "efficiency"
- Identify the ROI of over 300 SEM campaigns (by connecting ad cost to real time revenue and revenue projections). Pause all campaigns that were inefficient.
- A/B tested and implemented various SEM best practices such as dynamic sitelinks, Target CPA, audiences
Step 2) Increase the value of each customer acquired
- Partnered with Product to improve the landing experience of customers coming in from paid-marketing. Some customers brought through B2B marketing campaigns were actually false positives (aka, B2C customers). By better differentiating between B2B vs B2C customer, we could improve the customer experience for both segments and thus improve their conversion rates
- Partnered with Email team to improve post-acquisition on-boarding series
- Improve quality of lead by allocated more advertising spend to campaigns with higher proportion of B2B customers
Step 3) Expand SEM campaigns
- Launched campaigns with 1M new keywords containing high likelihood B2B product categories (ie: conference tables) and B2B modifiers (ie: restaurants)
Step 4) Diversify to newmarketing channels
- Took over Affiliates marketing channel which had been "steady state" and increased monthly customers acquired by 10x within 6 months
- Launched content marketing for acquisition, native advertising with Taboola, and partnership co-marketing with 3D companies
Bonus: Brand Marketing/PR initiatives
- Worked with Wayfair's R&D team to use Wayfair's 3D furniture models to acquire B2B customers
- Example of PR article
Joy was a driving force of the B2B Acquisitions team. She was a critical thinker who always worked to optimize the paid search channel. Beyond this, Joy went out of her way to seek out new channels, analyzing opportunities and testing acquisition methods. I was fortunate to help Joy on many projects, and was always impressed by her work ethic, management skills, and general ability to make any team member feel valued. I believe Joy has the potential to be an amazing leader in the future!Rebecca Shamritsky