There is no doubt the recent stay-at-home orders have impacted businesses in a big way. Some businesses have experienced significant revenue loss, while some eCommerce companies are seeing record revenue months. The current pandemic has changed search behavior as more people shift to buying online. Many eCommerce businesses have experienced an increase in conversion rate performance, especially those who carry products for projects that can be done at home.
In this article, I will discuss experiences from a few different eCommerce businesses that carry DIY products and the impacts on their business from the stay-at-home period. We will also discuss some ways any advertiser can maximize revenue for similar DIY product brands during this unprecedented time.
A Luxury DIY Brand’s Paid Media Performance During The Stay-At-Home Period
In one Luxury DIY account, they experienced a slight dip in revenue, but quickly recovered in March and experienced record-high revenue in April and May. Their products are classified as luxury and not considered an impulse buy. Purchasing these products requires planning and includes many custom order options.
Automotive Parts Brands’ Paid Media Performance During The Stay-At-Home Period
For one automotive accessories brand, April was a record revenue month. This brand provides interior and exterior auto accessories for your vehicle. While these products are not an impulse purchase, they would be considered an upgrade or add-on products for your vehicle. As you can see in the graph below, this brand surpassed $950,000 in paid media revenue in April and $1,300,000 in May. In the past year, paid media never drove more than $750,000 in direct revenue in one month, meaning April & May’s performance was exceptional.
Another automotive accessories brand also experienced record revenue in May. This brand sells exterior auto accessories for your vehicle that are different from the brand above but in the same category.
How Any Paid Media Marketer Can Maximize Revenue During An Unexpected Event
While much of this exceptional performance is due to a change in search behavior, an increase in DIY projects, and increased e-commerce shopping, we also made some bid & budget optimizations to help maximize revenue. It is highly likely these brands would have experienced revenue growth had they just rode the wave of demand and not deviated from the original paid media strategy, but they all remained flexible during this unique time and took recommendations to do the following: – Read more