VUE’s booking journey is more complex than just online ticket sales. Micro-conversions - trailer views, film pages, and member sign-ins – all play a part in getting film lovers into theatres.
While all these different conversion types are important, they all have different values to the business. Unfortunately, standard automated bidding strategies – maximise conversions and target CPA – fail to account for this, treating all conversion types equally.
The status quo gave Vue two choices. Either miss out on optimisations based on micro-conversion data. Or attribute the same value to page views as online sales. They wanted the best of both worlds.
How we solved it
Our solution needed to go beyond the off-the-shelf bidding algorithms available in most DSPs, like DV360, and build a custom weighted bidding strategy, bespoke to VUE.
By looking at historical data in VUE's analytics platform, we first worked out the relative importance of each conversion action to the business based on its likelihood of leading to an online sale.
This was used to determine a weighting, with online sales themselves having the highest weighting and micro-conversions having the lowest weighting.
With each conversion action being treated as having differing values, the display activity deployed for VUE was able to optimise towards the highest value rather than just the greatest number of any conversion.
Sales Conversion Rate
Decrease in Sales CPA
VUE saw an increase in conversion rate across nearly every conversion type, with the largest increase being seen with the conversion actions we weighed highest – online sales and add-to-baskets.
Click-through-rate also saw a significant increase, which suggests our activity was also reaching users more relevant to VUE as a brand.