Karel Schindler chief executive officer of ROI Hunter
“At ROI Hunter, we strive to create a new category of innovations that will eliminate wasted resources in retail and ensure that internet users are not bombarded by products that are irrelevant to them”
ROI Hunter was first established in 2014 as a Facebook Marketing Partner (FMP) up until 2019, when the CEO, Karel Schindler, realised that ROI Hunter could be much more. The company pivoted to become a Product Marketing Platform (PMP). ROI Hunter is both a certified Google Marketing Platform Partner as well as a certified Meta Business Partner.
ROI Hunter provides marketers with the actionable insights they need but didn’t know they could get. The PMP was created to help ecommerce marketers unlock the power of their product data to increase profitability and grow sustainably. The PMP is the first of its kind, providing marketers with granular, product-level performance data and actionable insights, such as the ad spend behind each product, how to boost best-selling items, how to decrease the promotion of low-variant products, and more.
There are no other companies on the market doing what ROI Hunter does.
While ecommerce marketers have data on how their campaigns are performing, they don’t have insight into how each of their products perform across channels. In fact, most marketers are unaware of how this type of data can even be used.
The ROI Hunter PMP fills this void by collecting product-level data from across a retailer’s channels (Facebook, Google Analytics, Google Shopping, etc.) and custom sources and combining it with their catalogue to enable insight into the performance of individual products.
At ROI Hunter, we strive to create a new category of innovations that will eliminate wasted resources in retail and ensure that internet users are not bombarded by products that are irrelevant to them. We achieve this by ensuring that retailers are able to fully utilise the data of every product they sell. Retailing is a game of efficiency – the majority of retailers are unable to squeeze significantly more insight from their customer data alone, and even the largest retailers in the world have massive, untapped growth potential in their product data
Imagine if every retailer understood the difficulty behind selling each individual product: they would be much better at not producing more products than they can actually sell. Beyond that, they could dynamically adjust their promotions to sell every product for the optimal price, offer only products that are relevant to a given user, and optimise their inventory to avoid ending up with dead stock.
This is all possible when you aggregate product data from multiple sources and make this data actionable. Our vision is for every retailer to benefit from utilising their product data in this way.
Marketers rely heavily on the black box of algorithms from giants like Google or Facebook to pick which products are promoted. There is a major lack of visibility into and control over dynamic promotions. In fact, it turns out that a large amount of a retailer’s catalogue never actually gets promoted by dynamic campaigns.
After analysing the data of hundreds of clients, we found that, for instance, Meta’s algorithm focuses about 50% of all impressions on as little as 1% of the products in the catalogue. The products that do get promoted are chosen based on metrics picked by Facebook, rather than being based on the retailer’s goals, such as greater profitability.
This can be fixed with the PMP’s Product Insights tool. Product Insights enables marketers to see which products are being promoted across all of their channels, along with their performance metrics. Marketers can use these insights to filter their catalogue into dynamic product sets with their own bids and budgets based on their campaign goals (e.g. high margin products for a profitability campaign, bestseller products for a scaling campaign).
The dynamic ads will then pull from the selected product sets rather than from the entire catalogue, giving marketers more control over which products actually receive promotion.
Another key element of success is to graphically represent these products in a way that makes them stand out. Once a retailer’s catalogue includes hundreds or thousands of products, it becomes difficult to scale the creatives behind each product to fit multiple ad formats. It’s even more difficult for them to include multiple images, or add on-brand labels (e.g. live prices) to the promotion.
This is why the ROI Hunter PMP is also equipped with powerful collaborative tools: The Template Editor (TEDI) and Creative Factory. With TEDI, users can quickly create scalable dynamic creatives, and with Creative Factory, users can turn static images into an exciting product video in minutes.
ROI Hunter’s creative tools are also connected to the same central source of data. This makes it easy to add conditions into the promotions to generate automatic stamps/badges (e.g. bestseller, sale, limited time offer, Wednesday deal, etc.) when the conditions are met, giving marketers and graphic designers more time to focus on other important tasks.
ROI Hunter teams up with established ecommerce brands from across the world, including those in Latin America, Europe, the Middle East, Asia, Africa, and soon, the United States. The retailers with the most to gain from the PMP typically have thousands of different items in their catalogue and spend 50,000 to five million euros per month on Facebook and/or Google.
ROI Hunter works with well-known names, such as Marks & Spencer, SportsDirect, Farfetch, L’Occitane, C&A, and Magazine Luisa (Magalu) – one of the biggest retailer brands in Brazil. Sephora in Brazil also chose ROI Hunter to help them spot and take advantage of their bestsellers.
One major way we’re accomplishing this is through sidestepping user privacy changes.
Currently, digital marketing utilises user data to understand individual customers and personalise ads to their interests. It relies heavily on online browsing and purchasing habits to match users to products. However, once Chrome drops 3rd-party cookies and other privacy policies continue evolving, this will no longer be an option.
To survive the future, retailers need to shift their marketing strategy to focus on additional signals and sources outside of consumer data. That’s why adding actionable product performance data is the future.
With product performance data, retailers will avoid constant worry over volatile privacy changes. Rather than asking just “who to target,” they can use product performance data to discover “what to offer,” as well as “where and how”. This will lead retailers to make more data-driven purchasing decisions, accumulate less deadstock, and ensure their best-performing products are the ones that get promoted.
In addition, we will continue learning more about ecommerce marketers’ pain points, and innovating to ensure we’re the best solution out there for them.