Bob’s Watches Scales Google Shopping Revenue by 222%, Becomes an INC 500 Fastest-Growing Company
Bob’s Watches is an online pre-owned Rolex exchange where consumers can buy, sell, and trade used watches at fair market value. Founded in 1999, Bob’s generates over $11 million in annual revenue and is now the largest name in pre-owned luxury watches and jewelry. In August of 2014, Bob’s Watches was ranked #129 by Inc. 500’s fastest-growing private companies. Merchants identified in this list are regarded as the top companies in the United States by their revenue growth and development in the ecommerce market.
Following Google’s 2012 transition from Product Search to Paid Search, Bob’s Watches turned to CPC Strategy to help them manage their Google Shopping campaigns.
Working with CPC Strategy allowed Bob’s Watches to redistribute their focus, tackling other areas within the company that needed improvement. This led to a significant growth for the company as a whole.
Bob’s Watches Primary Goals
- Drive orders at a low cost of sale
- Increase visibility for products on Google Shopping
- Maintain a low daily budget
Period Analyzed: 2013 vs. 2014
Revenue Increase from Google Shopping
ROI Increase on Google Shopping
CPC Strategy addressed each of Bob’s Watches goals by leveraging in-house technology and expertise
Goal 1: Drive orders at low cost of sale
After a thorough analysis of Bob’s Watches catalog and PLA architecture, it was clear that their ad group structure needed to be more granular to hone in on their higher-margin products. Bob’s team was able to segment their ad groups by specific price buckets and sales velocity.
Goal 2: Increase visibility for products on Google Shopping
CPC Strategy also identified several missing elements within Bob’s Watches Google Shopping feed. Using CPC’s CAPx™ platform, Bob’s Watches was able to implement comprehensive and ultra-relevant titles and product descriptions for Bob’s 400+ SKU catalog. By working in conjunction with their dedicated Retail Search team, Bob’s Watches was able to customize their Google Shopping feed, surface ads for bottom-of-the-funnel queries at a low CPC, and significantly improve ROI.
Bob’s Watches was also determined to increase visibility for specific search terms which were particularly valuable for their business. In order to this, we implemented our signature ISO™ campaign structure. This allowed Bob’s to funnel these valuable search queries to campaigns with more aggressive bids and budgets, capturing more high-intent search terms that saw higher ROAS than typical campaigns.
Goal 3: Maintain a low daily budget
In response to Bob’s Watches slim profit margins, it was critical for CPC Strategy to leverage geo-targeted bids to reduce wasted spend in non-converting regions and be more aggressive in the locations that did convert. Their dedicated account team explored a wide variety of creative targeting methods. As a result, CPC Strategy helped Bob’s Watches guide necessary funding to the areas most likely to convert and improve their spending efficiency.
“We have had the pleasure of working with the CPC team these past few years. They understand our goals and work with us to ensure that our shopping campaigns are performing at their best. Very satisfied.” Paul Altieri