Intro
Welcome to the new ROI Hunter! Whether you are new to the platform or enjoying it for some time already, the world of Product Performance Management is now at your disposal. This guide will assist you in unlocking the secrets of your product inventory and making wise budget decisions.
What is Product Performance Management?
As you may be aware, not all products perform equally. But how do you distinguish the good products with strong performance from the bad products with weak performance?
With ROIH's PPM platform, you are enabled to integrate your analytical, advertising, and business data into one single source of truth, and analyze this data on the SKU-level to discover valuable product insights. You can then use this data for optimization of your digital advertising activities by shifting your precious budget from bad products to good ones.
ROIH empowers you to understand the different ways in which all of your products perform. It allows you to deploy those insights as strategies for reaching your marketing KPIs:
Increase your online sales: Achieve higher Revenue and ROAS by focusing your budget on high revenue/ROAS products, or products with potential that are currently trending on Google search, or are new in your inventory.
Avoid wasting your budget: Move your budget from poorly performing products (such as ROAS<1, low Revenue, etc) to products that will get you to your goals quickly.
Scale profitably: Apply your learnings to support growth in the profitable way; instead of only promoting high ROAS products, you can promote products with high ROAS and high Margin to ensure profitable growth, and easily limit negative margin products or highly returned products from your promotion.
For more on this topic, read here: ROI Hunter and PPM.
For more on our clients' success stories with this strategic approach, read here:
Main Product Features
Here are the central tools in ROIH:
Product Insights This menu is the flagship functionality used for everything from segment configuration to deep dive data discovery.
Read more here: Product Insights |  |
Segments Dashboard This menu is used to monitor and analyze the historical performance of your segments.
Read more here: Segments Dashboard |  |
Settings > Markets and Assets This menu is used to manage your product inventory and respective feed(s), as well as the health of your data.
Read more here: Data Integration |  |
Meta This menu is used for overseeing your Meta channel properties.
Read more here: Meta Channel |  |
This menu is used for overseeing your Google channel properties.
Read more here: Google Channel |  |
Commonly Used Terms
There are multiple concepts used to describe different aspects of PPM functionality:
Product inventory: A list of all the products and associated product data that you wish to use for product performance management
Product inventory feed: A dynamically updated spreadsheet file containing all your product data information which is used to keep your product inventory current (Note: it's important for this to contain all your products advertised across all your marketing channels to ensure reliable data insights)
Product segment: A dynamically updated subset of products from your product inventory with common qualities or level of performance
Product strategy: A designed goal such as preserving your budget or increasing your online sales that is used to create and implement product segments to apply towards your marketing campaigns
Workflow
The nominal workflow of the new ROIH is finding and leveraging actionable insights in your product data:
Start with ROIH by planning your business goals and understanding what good and bad products mean for your business
Integrate your analytical, advertising, and business data
Create product segments that reflect your business goals ←You are probably here
Apply segments to your campaigns as Product Sets for Meta or Product Groups for Google PMax
Design and apply creative templates based on these segments you applied (e.g. a New Arrivals campaign should have a New Arrivals Template)
Track segment performance while exploring additional data insights
With fresh ideas for further optimization and enhancement, return to your existing segments and product strategies or create new ones altogether
Next up, learn more about reviewing segment performance in Segments Dashboard.
Previous page: | Current page: What is ROI Hunter? | Next page: |