How Catawiki achieved 25% improved return on ad spend (ROAS)
Catawiki is one step further towards fully automated marketing with the help of Facebook Marketing Partner The Next Ad. Together they automated both remarketing and prospecting campaigns to reach potential customers effectively in multiple countries, for specific auction categories, with personalised dynamic ad templates. This innovation has a major contribution in the scaling process of Catawiki’s business internationally. Catawiki was already voted as the world’s fastest growing tech-company in 2015.
Weekly auctions for special objects
Catawiki was founded in 2008 and was originally designed as a website where collectors could manage and keep track of their collections online. Unsurprisingly, the name Catawiki is a combination of the words ‘catalogue’ and ‘wiki’. Catawiki’s goal is to make special objects universally available through online auctions. Their weekly auctions feature thousands of unusual, rare, and exceptional objects you won’t find in just any store. Catawiki welcomes many millions (12 million) of visitors from all over the world every month. They sold 30,000+ lots every week, have 166 specialist auctioneers and run 300+ weekly auctions. But… they’re still growing! Their organization therefore has a strong international focus, with employees from all over Europe. Their offices are located in the Netherlands, Germany, France, Great Britain, Italy, and Spain.
Automated personalised marketing
The core business challenge Catawiki is trying to address is to grow their business internationally by entering new countries and markets. Facebook has proven to be the key to discover new markets and countries to scale their business. Their business challenge in terms of advertising is to spend their budget effectively to get the best results. By using the right and most specific targeting strategy, potential customers will convert to bidders. Facebook was uniquely suited to help tackle this challenge using dynamic ads. Dynamic ads allow Catawiki to show the most relevant auctions, to specific audiences who are most likely to take action. The challenge of Catawiki is to automate and scale their personalised marketing strategy.
"Thanks to the user-friendly interface of The Next Ad, our workflow is more efficient. We’ve saved a lot of time in creating and optimising campaigns. Now we’ve more time to focus on new features and specific elements. In terms of time saving, we have saved multiple full time marketers (FTE’s) by automating our ads using The Next Ad."
Dynamic marketing automation
Facebook, The Next Ad and Catawiki are one step further towards fully automated personalised marketing by using the right combination of the dynamic product feed and dynamic ad templates for both remarketing and prospecting, automatically. Every marketer knows that people who’ve visited your website, can be tracked and retargeted by Facebook’s pixel combined with dynamic ads.
By connecting your product feed and creating a dynamic ad template, advertisers can show the retargeted audience the same or a similar product. But how can you reach new potential customers who haven’t been on your website yet, make them aware of your brand and convert them into buying your products or register on your website through a dynamic ad? In other words, how can we create dynamic ad campaigns for prospecting? The Next Ad innovated to automate the manual process of creating ad creatives to reach potential new customers by using the dynamic product feed and dynamic ad templates. With dynamic ad templates, ad creatives will automatically be created to convert people to your website or app.
The Next Ad has created a solution to automate the creation of ad creatives using product feeds. The Next Ad’s clients can now leverage the power of dynamic retargeting in their dynamic prospecting campaigns. So now Catawiki is able to scale their ad creative automation process. The next challenge is how to target the right creatives to the right audiences. That’s where dynamic audiences step in. With dynamic audiences CRM segments are automatically fetched from Catawiki’s CRM database on a daily basis. The great thing about dynamic audiences is that it’s constantly updating Catawiki’s custom audiences across all their accounts and campaigns. This assures Catawiki that they always have access to the most relevant audiences in their prospecting and retargeting campaigns.
The combination of dynamic audiences and dynamic prospecting makes Catawiki’s advertising scalable (to grow internationally and enter new markets), personalised (to show every specific audience the most relevant ads) and automated (to achieve creating lookalike audiences, automatically and frequently) at the same time.
"We are growing and scaling our business significantly. That’s why we were looking for a partner who’s innovating constantly and is willing to help us implement new innovation solutions to reach the most specific audiences with the most specific ads. The Next Ad is the partner who fit our needs."
25% improved return on ad spend
With the help of Facebook Marketing Partner The Next Ad , Catawiki significantly saved time in creating and optimising campaigns, improved their ROAS, have seen significantly better results out of their budget and is operating on the highest levels of personalised marketing. As a result:
- Catawiki increased their return on ad spend (ROAS) with 25%
- They scaled their business significantly in less than 2 years from 4 countries to more than 40 countries and from 40+ categories to 70+ categories
- Saved time and work for multiple FTEs by using The Next Ad’s automation engine.
- By smart, automatic optimisation of The Next Ad, Catawiki decreased 67% in workload and time spent. They can manage the manual work of 6 FTEs with just 2 FTEs.
"By using dynamic ads in combination with the dynamic product feed to create dynamic ad templates and The Next Ad's Hyper Optimisation, we were able to scale our business significantly! By using The Next Ad we've also seen 25% improved return on ad spend."