Let’s take a glance beneath the hood and explain how Optily overcomes complex problems in digital ads to unlock maximum value for advertisers. First, we’ll show you get started, then we’ll see what’s going on behind the scenes.
Marketers are constantly asking the same question: where do I invest my marketing budget for maximum impact?
Optily was built in order to answer this question quickly and frequently enough so that the insights could be implemented regularly. Spending hours each week evaluating campaign data manually just causes headaches and doesn’t save much time or money at the end of the day.
By feeding in data from Facebook and Google Ads, Google Analytics, and Shopify, Optily can have a holistic view of your campaign performance data. Our algorithm then provides a daily recommended budget split across all your campaigns with like goals for maximum efficiency.
Since we’re all about saving time here, we’re proud to say that we can get you up and running with Optily in just a few minutes from the moment you sync your accounts to applying your first recommendation.
Connect the app to your Shopify stor to activate your free trial, then just copy the API key and save it for the next step
Log into the Optily app, paste in your API key, then just connect your Facebook and/or Google Ads, along with Analytics
Sort your cross-channel campaigns into groups with common goals that can be optimized against each other.
Review your single-view dashboard with all your campaign data and improve ROAS with instant recommendations.
Once you have your account up and running, Optily’s algorithm works in the background to give you a steady stream of up-to-date recommendations you can trust.
If you want to have a peek under the hood, keep reading to find out how the OptiGroups work with the marketing funnel structure to ensure you’re always spending in the right place at the right time.
In order to make sure we’re comparing apples to apples, the first step when you get started with Optily is to make some OptiGroups. This term simply means a collection of 2-5 campaigns that share a common objective and can be optimized against each other.
We’re big fans of the marketing funnel here at Optily so we’ve baked this structure into our OptiGroup Strategy Wizard. Of course, you don’t have to use the marketing stages when building your OptiGroups, but in our experience, this is a safe bet for ensuring growth and success in cross-channel marketing.
While your overall business goal as an eCommerce brand is likely efficiently increasing your revenue, other objectives will feed into this at various stages.
Narrow down interested target audience from a wider base
Impressions, average view time, clicks
In-platform metrics normalized across campaigns
Educate the in-market audience about the brand and products
Clicks, CPC, ROAS, CTR
In-platform metrics normalized across campaigns
Drive sales among highly interested audiences
ROAS, CVR, AOV, Revenue, Transactions, Sessions
In-platform and Google Analytics combined metrics
When you organize your campaigns into OptiGroups, the Optily algorithm normalizes the data and provides a recommendation based on past performance for the best way to split you budget.
The algorithm that crunches all the data input form various sources is pretty flexible in terms of the goals it optimizes against. You can choose to have it use a single metric goal or multiple goals with different weights.
When only one metric is selected, the Optily algorithm makes recommendations based on just one goal, for example Cost per Link Click (CPC). The campaign that shows the lowest cost will be allocated the largest portion of the budget.
In cases where there are no clicks yet for a particular campaign in an OptiGroup, the algorithm takes a step back and uses a secondary metric, such as impressions, to measure success.
For a more balanced approach, we implemented a weighted system of metrics that spreads attribution out across more steps in the process. Of course, not all metrics have the same impact so each one is a assigned a different weight depending on the overall goal you select for optimization.
In this ranked recommendation system, an OptiGroup optimization goal focusing on Cost-effective Traffic would have the following hierarchy:
Two types of metrics are used in this algorithm: calculated metrics and total metrics.
Calculated metrics account for 80-90% of the algorithm and give us a comparable metric to compare against other campaigns.
Total metrics are 10-20% and are critical when deciding how influential a particular calculated metric is in the overall scheme of things. For example, a campaign that has a higher ROAS but only accounts for $20 in revenue might not be as powerful as one with a lower ROAS metric that is bringing in $1,000 in sales.
Once you’ve got your OptiGroups set up and the goals selected, our software makes budget reallocation really simple. There’s no 24 hour wait time; the algorithm get right to work and makes your first recommendations available within seconds. You click the “Apply Recommendations” button and that’s it.
It’s important to keep in mind that:
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