In 2021, Skitt Fiske generated over 160 million in sales, making them the leading e-commerce company in the Nordics for hunting, fishing, and outdoor goods. Part of their success comes from delivering well-known brands at lower prices, with a constant focus on costs and efficiency.
Skitt Fiske had a remarkable upswing during the pandemic, as many of us sought new outdoor experiences. But with the turbulent times comes a decline in consumers' purchasing power and the cost of online advertising rises. The e-commerce landscape is ever-changing and becoming more challenging to navigate than before.
How could s360 help Skitt Fiske maintain its position as the market leader in hunting and fishing after the positive pandemic surge?
The answer was a multi-channel strategy. A multi-channel strategy allows us to make adjustments when we see how our desired channels work together and influence each other. At s360 we have extensive experience in marketing for e-commerce from a variety of markets, and our insights show that by distributing our marketing efforts across multiple channels, we can reach more high-intent customers.
With a more holistic approach to the different channels, we can better allocate spending and reduce risk when a channel performs below expectations. By adjusting marketing efforts based on how the channels perform, we can purchase cost-effective ads and achieve greater reach among potential customers.
In addition, we know that Snapchat has a unique position in Norway. This sets the stage for some exciting opportunities. Snapchat reaches a large portion of the population in Norway. While we can expect to reach about 70% of the population in Norway, Snapchat reaches a slightly lower percentage in our neighboring countries Denmark, Sweden, and Finland, with 50%, 46%, and 29%, respectively.
We also know that Snapchat users tend to be in a different mindset compared to other social platforms. For example, 95% of Snapchat users say that the platform helps them keep in touch with friends and family. This helps to improve their mood, and is one of the reasons why Snapchat is considered the "happiest platform". Reaching customers in the right mindset can be important for effective marketing.
We operate in a market with fierce competition and ever-increasing ad prices. s360 helped us put together a more cost-effective media mix by including Snapchat, which resulted in a significant increase in return on investment. The numbers speak for themselves, and implementing a multi-channel strategy for Paid Social has undoubtedly been the right and forward-looking approach for us.
Skitt Fiskes' website is optimized for mobile use, allowing for a seamless customer journey from Snapchat to the online store. Their innovative approach and exceptional design skills presented us with a fantastic opportunity for success.
By designing channel-specific creatives and focusing on utilizing Snapchat's tools, such as product catalogs and dynamic ads, we saw a significant impact on the results compared to other channels.
For example, we saw that campaigns on Snapchat resulted in a 64% reduction in CPM (cost per thousand impressions). The difference was even greater for CPA (cost per action), where we saw a 75% reduction.
With a multi-channel strategy, s360 was able to reallocate the budget to Snapchat, where the invested advertising expenses gave more in return. The numbers from Snapchat showed a much higher ROAS (return on ad spend), with a 252% increase compared to the other channels.
Snapchat has a lot of untapped potential in Norway and can be a valuable alternative for advertisers looking to reach potential customers in the right mindset. By continuously improving the customer journey, brands that invest in Snapchat can have a significant impact on their marketing efforts.