The question that first occurs is, what actually is ‘ROAS’?
ROAS means, Return on Ad Spend. It is the amount of revenue one can generate with the amount spent on advertising. By keeping careful tabs on ROAS, ecommerce companies can make informed decisions on where to invest their ad dollars and how they can become more efficient.
Moving on to, how one can achieve it?
Following up with the steps:
One needs to optimize your website to the best level possible. You need to make everything
‘a piece of cake’ for the consumer so that one can to make quick decisions without any sought of doubt left. In short:
- Work on the UI/UX – Good looking website is one thing but it should be easy to use first. We have instances where the best-looking website with just 1X ROAS.
- Navigation- Ensure that the customer can navigate properly and find the product they are seeking easily.
- Niche – Not every niche has this type of capability, if your product is in a very competitive niche then these types of results are difficult to achieve.
So, the aim is profitability, you can even make profits with 3X.
- Solve a problem or meet a need – Products that genuinely solve a problem or helps in fulfilling ones need works the best.
3. Business Operations & pricing structure:
- Pricing – Make sure to have competitive pricing which makes it a no brainer offer for the customer.
- Shipping – Fast shipping works as a plus point but you have to price it right. If you charge too much in shipping then it may not help.
- Service – Great customer support helps in winning a customer for a lifetime.
4. Social Media:
- Consistency with content works as a key factor.
- Add value – Try to contribute some genuine value in the life of each follower or community member.
- Engaging Content – Ensure the content you put creates hype and engagement on social media. It should be viral content.
Now you may think that there is some secret sauce here. It’s genuinely nothing. But this is what you can do to get the most out of your ads
- Great Creatives – Invest a good amount of time here because in the end creatives help with bringing the customers to the website.
- Understand your customer persona – You should know whom to target exactly. This will help you in the technical process.
Patience is the key to success, you can’t expect to make a good brand in short duration, one needs to invest time and put in good amount of hard work to achieve the desired goal. This is not a winning products game but a winning brand’s game which you would have to play long term.
These are some of the factors that we have observed with our consistent analysis which could help in long run to make a good brand.