Dynamically Optimising for Omnichannel ROAS
With Bionic, you can now dynamically optimise Facebook and Instagram paid advertising to deliver against Return on Ad Spend (ROAS) across offline, web and in-app sales channels.
Bionic uniquely enables ecommerce and retail brands to automate the optimisation of Facebook and Instagram marketing across your entire conversion funnel.
We are now delighted to announce that you can include Return on Ad Spend (ROAS) as your most downstream goal within your campaign’s Goal Pipeline; enabling you to optimise Facebook & Instagram bid and budget strategies in real time based on the ads, ad sets and audiences delivering the highest value sales across all channels.
ROAS is calculated as the total sales revenue generated from a specific ad, ad set or campaign, divided by the total media cost of that ad, ad set or campaign. A ROAS of 10 for example, indicates that for every $1 spent on advertising, $10 of sales revenue is directly attributable. A ROAS of 1, indicates that for every $1 of ad spend, $1 in revenue was generated.
Omnichannel ROAS is a measure of the return on ad spend from attributable sales across all channels. With Bionic you can incorporate sales data from channels such as retail store, call centre, web and in-app purchases and attribute accurately back to Facebook and Instagram campaigns.
Uniquely with Bionic, you can now also optimise towards this Omnichannel ROAS goal in real time. You simply select “ROAS - Omni Purchase” as the highest priority goal when creating your Goal Pipeline.
This sample Goal Funnel report, demonstrates how the Bionic algorithm optimises for Omnichannel ROAS. Being the most down-stream event in the Goal Pipeline, it receives the greatest weighting and all other goals are optimised to drive people towards this part of the funnel.
Already, customers who have started to use the OMNI ROAS goal in their Goal Pipelines are seeing significant improvements in overall campaign performance. Inserting this goal doesn’t negatively impact on Conversion performance, as it remains the second-most downstream event.
If you would like to see this in action for yourself, simply log into Bionic today and include the “ROAS - Omni Purchase” goal in your pipeline. Alternatively, get in touch with your account manager to find out more.