Smartly.io: ThirdLove Uses Smartly.io to Automate Budget Optimization
ThirdLove is a market leading US company disrupting the intimates market. It was the first bra and underwear brand to offer trademarked half cup sizing and it uses proprietary Fit Finder technology that combines learning algorithms and customer feedback to select the best bra size.
Challenge: Scale Up New Customer Acquisition While Maintaining CPA
ThirdLove was looking to scale up new customer acquisition, while maintaining the same CPA level and without adding manual work. The brand was running both prospecting and retargeting campaigns and was using different CPA targets for each step in the funnel. Ensuring that most of the budget was being spent on the best-performing audiences turned out to be both difficult and time consuming. They observed strong intra-week seasonality, with some weekdays being significantly more profitable than others, which in turn resulted in more manual budget changes throughout the week.
Solution: A Unified Approach to Budget Optimization
ThirdLove took a unified approach to optimize their budgets across each stage of the funnel.
Facebook’s Campaign Budget Optimization combined with Smartly.io’s Budget Pools were applied to automate the way different audiences were prioritized throughout the funnel. This combination of solutions ensured that budgets were allocated automatically based on the CPA targets of specific user groups who were identified as having previously interacted with the brand, for example - users who were completely new to the brand versus those whom had already been exposed to their brand touchpoints, but never made a purchase. Facebook’s Campaign Budget Optimization prioritized ad sets within the campaign and Budget Pools automatically increased the budget of top-performing campaigns.
Optimization strategies were set up to automatically increase the total budget pool amount during the days ThirdLove had historically seen stronger performance. Based on internal data from their analytics team, ThirdLove set up a combination of triggers to automate the spend-levels throughout the week.
Results: Time Saved on Manual Budget Optimization with Campaign Budget Optimization and Budget Pools
Thanks to Facebook’s Campaign Budget Optimization and Smartly.io’s Budget Pools, ThirdLove was able to sleep a bit easier (literally and figuratively), as there was no longer a need for them to manually adjust budgets throughout the week. On average, this saved them one day a week, which would have otherwise been spent on their daily manual budget optimization routine.
"Smartly.io has made optimizing budgets for our campaigns a breeze. We no longer have to make daily manual updates to our budgets as their automated solutions take care of it all for us without having to lift a finger." - Emily Hills, Associate Manager, Growth Marketing
Read the original case study here
