Woom has garnered global acclaim for its children’s bikes, which were scientifically designed for the distinct proportions and riding behaviors of its young users. Since its founding in 2013, the Vienna-based business has expanded internationally to 30 countries. With its vast audience and robust capabilities, connected TV (CTV) advertising has been a key driver of this expansion, particularly in the key growth market of North America.
Prior to April 2023, Woom was completely new to the world of CTV, according to Adam Girgis, Paid Media Specialist for the brand. Although his team had tested YouTube advertising on a relatively small scale (and with minimal spend), market research on the growth of streaming services inspired them to test the larger CTV waters. Woom tapped MNTN as its CTV partner following a referral from the brand’s media agency at the time, according to Girgis. Since then, the brand has seen impressive improvements in critical key performance indicators, including a 35% reduction in cost per visit, a 20% reduction in cost per acquisition, and 110% higher conversion rate than the Woom site-wide average. Perhaps most notably, 27% of Woom’s total U.S. revenue was driven by CTV.
“Our agency at the time mentioned that clients of theirs have seen success with CTV, [and we were looking for a platform that allowed us to be self-service and not have any contractual spend minimums to start with — MNTN fit the bill,” Girgis said in an interview with Retail TouchPoints. “All-in-all, MNTN has allowed us to leverage CTV advertising in an accessible manner, allowing us to capitalize on prospects that we would not be able to reach on other channels. CTV advertising also gave us the chance to legitimize the brand by telling an emotional story to our audience through our ‘Enjoy the Ride’ re-branding.”
Building a Full-Funnel CTV Ad Strategy for a Niche Product
With MNTN, Woom had a scalable CTV advertising solution that would allow it to properly communicate its brand story, while also driving strong performance. MNTN Performance TV helped the team develop a full-funnel strategy that strategically combined brand marketing and performance marketing — an intricate balancing act that all marketing teams today are navigating.
Woom also has a niche product for a very specific audience, which means its advertising campaigns need to be targeted at the right audiences with the right interests. “The U.S. market, with its strong culture of outdoor activities and cycling, presented an ideal opportunity for Woom to grow its brand and introduce its products to a new audience,” said Lindsey Yosha, Head of Marketing for Woom in an interview with Retail TouchPoints.
The brand started by identifying its long- and short-term goals. While increased brand awareness with target demographics was an underlying objective, Woom also had specific, measurable goals in place, including increases in website sessions and sales during key promotional timelines. However, Yosha noted the long-term goals remained consistent: Develop a strong emotional connection between Woom and its audience, expand market share and grow customer lifetime value.
“It all started with Woom outlining what is most important to them,” explained Jessica DeLeon, Accounts Director at MNTN in an interview with Retail TouchPoints. “Woom and MNTN worked in lockstep to build a full-funnel strategy around their creative, audience and key cities. Once the strategy was set, we let the MNTN platform optimizations do the rest and Woom received the benefits.”
Woom built two simultaneous campaign streams to accomplish these goals: One upper-funnel prospecting and consideration campaign that excluded its master email list; and one retargeting campaign featuring timely promotions delivered to consumers who viewed two or more product pages on the Woom ecommerce site. These campaigns were then split to target key cities. Additionally, Woom used MNTN’s audience-building suite to target relevant consumer groups, including:
- Parents of kids in sports;
- Families with an interest in parks and outdoor activities; and
- Parents of children aged 5 to 10.
Woom used various messaging and creative combinations to support these campaigns. While brand-focused campaigns tended to focus on core brand pillars and product differentiators, campaigns tied to key shopping weekends and seasons included customer testimonials to drive urgency and fear of missing out (FOMO).
“The initial impact we saw was that the traffic we were driving to the site was much more qualified and engaged, [with consumers] spending much more time on the site compared to other paid channels,” Girgis said. “We relied on in-platform performance data to optimize campaigns and customer reach for budgeting optimization.”
Optimizing CTV Investments
With MNTN, Woom receives real-time measurement and business insights into how its creative, audiences, geographies and more are performing in relation to its goals, and where there are opportunities for improvement and expansion. These insights are accessible in real time, so the team can adapt, learn and apply those learnings quickly.
Going forward, the Woom team plans to use MNTN Marketing Modeling (MMM) to analyze its data and more granularly measure the performance of its TV campaigns, according to Girgis. The team also plans to expand its use of the broader MNTN suite, which will enable it to scale and innovate in its CTV advertising strategy. For example, using MNTN Matched will enable Woom to continue to use keywords to improve targeting, while Creative as a Subscription (CaaS) will empower the team to ramp up the number of video variations it creates and tests.
“Woom’s approach is in alignment with MNTN’s philosophy of test, measure and refine,” added Amelia Dieterich, Accounts Director at MNTN. “They wanted to go deeper than the traditional reach and frequency that other CTV platforms provide and evaluate on a more robust understanding of the impact Performance TV delivers. With more precise targeting and a performance-drive approach, CTV can leave a quantifiably large impression, like Woom did.”