The challenge
This UK Fashion brand specialising in Luxury footwear, were particularly impacted by the recent downturn in luxury retail sales.
Palladium were engaged by the company to undertake a rapid audit of current digital activity and technology stack with a view to identifying immediate cost efficiencies in both technology and media spend with as limited impact on sales as possible.
Our approach
Working with a business over a 10 days period, Palladium first audited existing activity, identifying several areas of media spend inefficiency. The business marketing technology stack was reviewed and rationalised saving on licence and maintenance costs. Market trends were also analysed, where Palladium helped identify a very recent trend for loungewear, that the business used to pivot production to manufacturing of slippers, producing new products within a week and achieving it's first sales in this category within 2 weeks.
The result
- Over £380,000 of annual cost savings identified
- New trend identification with demonstrable impact on revenue
- 4x ROAS improvements through improvement in marketing efficiencies
- Best performing sales month (April) of the year, despite toughest trading conditions in years