BOC is the largest provider of industrial, medical and special gases in the UK & Ireland, supplying over 400,000 customers across a large range of industries.
As long-term partners of RocketMill, BOC required continued media support to increase company revenue year on year. Whilst media channels were performing well, they recognised an opportunity to reduce media budget spent on returning customers, in favour of increasing revenue from new customers.
We tested the hypothesis that, if returning customers aren’t reached via Paid Search, they will convert on the website through another medium (organic, direct, referral.)
To reach new audiences we ringfenced a proportion of BOC’s media budget to focus on Smart Bidding campaigns; optimised to new and switched customer value in order to grow the customer base.
Google’s Smart Bidding utilises machine learning algorithms to automatically adjust daily spend based on performance after inputting value based targets. They can also help to bid more competitively for higher value or better qualified prospects.
We used two Smart Bidding tools; Target Return on Ad Spend (ROAS) which drives maximum conversion value at a particular ROI and Maximise Conversion Value which gets as much value within a set budget.
We reduced the percentage of budget spent on existing online customers by increasing our keyword portfolio and optimising smart bidding with audience lists. At the same time we continued to encourage prospects to choose BOC over competitors via increased presence in search and shopping across Google and Bing.
By shifting strategy and focusing spend on new customers, we were able to drive greater business value for BOC, including:
- Increasing revenue from the website by 52% YoY
- Decreasing Media spend by 23% YoY
- Decreasing the average CPA on existing customer by 25% YoY
- Achieving an increase of +64% for total website transactions in 2021
“We have been so impressed with RocketMill’s expertise guiding us through a step change in our ability to measure our paid media success, reducing spend on our returning customers and focusing on increasing orders and revenue from new business. They ensured clarity for each step of the journey taking time to understand our complex business and requirements. Their responsive teams have worked together to uncover opportunities across paid media, data and SEO which has been really valuable for our business.“