REGROUPING ON STRATEGY
Boscov’s implemented Sidecar, and the technology immediately regrouped products according to similar performance metrics using data from Google Shopping, sitewide data, and other key product attributes.
The technology also evaluated products’ performance at the device level, creating specific groupings of products that performed well on mobile and other groupings that performed well on desktop.
The technology then assigned bids to every grouping to drive revenue growth while also meeting Boscov’s ROAS goal. For instance, if a men’s white button-down shirt had similar performance metrics as a 10-inch ceramic skillet, and they both deserved an $.80 bid, Sidecar grouped them together and set an $.80 bid.
That was day one. The technology continues to dynamically manage and optimize product bids, evaluating each one every day to determine whether a bid should change, whether a product should move from one group to another, and whether a product should go into a group of its own because there’s enough data to suggest it should be given its own bid.
“The notion of setting the right bid for each product is a reality with Sidecar,” said Lorah. “Product-level bid management is more dynamic and fluid than could be feasibly managed in house.”
All the while, Sidecar’s analysts monitor the technology’s actions, stepping in as needed if they determine a manual adjustment will yield better results.
Beyond bid evaluation and adjustment, Sidecar performs day-parting and geo-targeting optimizations to further drive revenue growth. The technology also continually and dynamically optimizes Boscov’s product feed to add certain product attributes to titles and descriptions to better match the way products are searched.