iZotope is an award-winning developer of innovative products and audio technologies for professionals and hobbyists alike that inspire and enable people to be creative. The iZotope team has spent over 15 years developing audio production tools found in professional facilities and home studios alike. Their product line focuses on Music Production, with solutions for mixing, mastering, and creative effects, and Audio Post Production, with tools that enhance audio for film, broadcast, video, and new media. Alongside the development of studio software, iZotope incubates bleeding-edge audio technology for future release and develops rich audio education to help enthusiasts and professionals alike improve their craft.
iZotope was seeking to expand its marketing efforts with a paid media strategy. They came to BusinessOnline for clear projections and goals to better understand how any revenue put towards paid media efforts would impact their sales bookings. This initiative faced the added pressure of being launched in September—the seasonality of Q4 in retail e-commerce meant an influx in holiday sales and promotions, which translated into an expedited strategy and full advertising scale-up within one month.
The initial effort focused on a paid media pilot wherein iZotope’s marketing team sought external support to leverage services to increase media spend, expand initiatives and reach new visitors, while assisting in overall revenue bookings goal for Q4. BusinessOnline’s approach included auditing iZotope’s current programs and paid media initiatives, creating a paid media strategy, and projecting revenue bookings for all initiatives including our proposed expansion recommendations. A paid media plan was developed from the strategy outlining the most effective approach for scaling, expanding, and optimizing across all channels.
The projection dashboards showed paid media influence and outlined platforms with significant value for marketing and sales. The team also created an attribution model to identify paid media influence and where each paid media channel attributed in full path revenue. This led to a greater understanding of the campaigns and revealed opportunities for us to shift our strategy towards offers that were being promoted, what messaging we used, and which channels we advertised on.
iZotope’s goals were to implement paid media campaigns with the ability to expand initiatives and reach new visitors, leading to an increase in revenue bookings during Q4.
The paid media solution included a full assessment of current paid media efforts followed by launching targeted campaigns in line with business promotions. These campaigns were executed across each of the following paid media networks:
- Bing (Search and Shopping)
- AdWords (YouTube, Gmail, Shopping, GDN and Search)
More than 16 product promotions launched over of the course of 16 weeks, including creation, management, and optimization of over 250 campaigns. These optimizations were paired with expansions to advance campaigns:
- Launching Shopping Feeds
- Expanding internationally into the UK
- Implementing Google Beta
- Merchant promotions
- Promotion extensions
- Launching Dynamic Product Remarketing ads
All channels were evaluated and optimized based upon our full path attribution model and findings.
BusinessOnline executed the strategy and implementation in one month, and throughout the quarter provided strategic insights, recommendations, and optimizations to the expanded channel efforts which resulted in:
- Total Paid Media visitors increased 89% QoQ
- New visitors increased 71% QoQ
- Revenue from Paid Media increased 130% QoQ
- BusinessOnline projected exceeded revenue projections and achieved a Marketing ROI of 155%, and contributed over 15% to the total Q4 revenue goal.
- BusinessOnline’s creation & execution of shopping campaign initiatives contributed last click revenue in Q4 with a sale rate of 1.78% (In addition this expansion brought in 5,656 new visitors; 2.77% of total new visitors for Q4)
- BusinessOnline’s UK expansion contributed 502 transactions with increased last click revenue in Q4. (In addition, this expansion brought in 20,942 new visitors; over 10% of total new visitors in Q4)
- New visitors increased by 50% QoQ and 315% YoY with 1,064 new visitor transactions and significant last click revenue in Q4.
iZotope’s paid media campaigns and expansion efforts executed by BusinessOnline aimed to test effective paid media channels and understand their attribution. With new insight into what was and wasn’t working, iZotope refocused their efforts by targeting the right channels for each campaign, focused on each stage in the buyers’ journey, and consistently engaged with their audience. The reporting dashboards provided valuable insights on the successes of their marketing programs. The result was—and continues to be—smarter marketing attribution. iZotope used BusinessOnline’s data-driven insight reporting on attribution and assisting conversion channels to increase media budgets for 2017.