How Vimeo optimized spend and reduced budget allocation time by 75% with Sprinklr
Sprinklr
Using Sprinklr's Predictive Budget Allocation (PBA) tool, the video sharing platform created efficiencies and optimized its advertising spend.
of manual work saved per week
increased performance across campaigns
decrease in time spent on budget reallocation
The challenge
Vimeo empowers video creators to tell exceptional stories through its platform. The paid social acquisition team furthers this mission, managing an advertising budget with the goal of driving paid subscriptions of its video creator plans. With Sprinklr's Predictive Budget Allocation (PBA) tool, the team is able to manage budget more efficiently and effectively than ever before. The team was hindered by an inefficient process for manually calculating budget reallocations.
The strategy
Vimeo adopted Sprinklr’s PBA tool, which monitors campaign performance against specific KPIs and shifts budget allocation according to performance — automatically.
The challenges of manually managing advertising budget
With advertising budget spread across the world, the team previously spent up to six hours a week manually calculating where to shift its resources as campaigns progressed and evolved. Bridget Schowalter, social and content marketing associate, runs budget allocation for the team. Before using the PBA tool, she would export all campaign reporting into pivot tables in Excel in order to evaluate performance on the ad set level. Sorting the data based on the team’s KPIs from highest- to lowest-performing tactics, she would go through line item by line item, manually adjusting budgets accordingly. On top of this time-consuming process, budgets for ad campaigns were increasing but bandwidth was not. Bridget knew that she needed a tool to help her manage the work as it continued to scale.
“We have several different metrics we constantly optimize towards to make sure we’re allocating budget to the best-performing tactics,” Schowalter says. “Our team manages all of Vimeo’s paid social acquisition efforts, so reallocating budgets across tactics should not take up a significant portion of my day-to-day activities, but without Sprinklr's Predictive Budget Allocation tool, it was.”
Increasing efficiencies and optimization with predictive budget allocation
Working with Sprinklr, Schowalter and Aaron Clossey, the senior manager of social and content marketing, set up the PBA tool to analyze and optimize advertising spend across paid social tactics. The PBA tool monitors campaign performance against specific KPIs and shifts budget allocation according to performance. Bridget can now automatically shift campaign budgets based on real-time performance and on the KPIs Vimeo is targeting. Vimeo set the tool to track KPIs beyond clickthrough rates, using it to measure more robust metrics such as return on ad spend (ROAS) and cost per landing page visit (CPLPV). The PBA tool then automatically reallocates budget according to the performance of each campaign. “The PBA tool gives me more time to do in-depth reporting and analysis of our overall performance,” Schowalter says. “With the time I save, I can now also test different strategies that we want to apply to our campaigns.”
The results
75% decrease in time spent on budget reallocation
Instead of a laborious two-hour process, Schowalter can now complete budget adjustments in just 30 minutes. The tool also allows Schowalter and Clossey to align how campaign budgets are allocated to the exact KPIs that are a priority to the business. The result? An efficient, nimble way to optimize advertising spend. Over a two-month period, Vimeo increased performance by approximately 18.5% across campaigns.
“With the time we save using Sprinklr, we can focus our efforts on more strategic initiatives and our goal of empowering video creators to tell exceptional stories.”
Aaron Clossey
Senior Manager, Social and Content Marketing, Vimeo
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