Record-Breaking Success: $1.2M Retail Sales, -54% CPA, -51% TACOS YoY πŸš€ – Case Study for Byrna

the featured image for the case study of Byrna. It shows a person's hand writing on a notepad with a laptop open next to them.

The Final Result

  • Record-Breaking Sales: October, November, and December 2023 witnessed historic achievements for the brand, with over $1,200,000 in monthly average retail sales due to the new product positioning success.
      • Laser Sight Digitial generated + 85% year-over-year growth in Q4 2023 with over $1,600,000 incremental revenue.

  • Average monthly sales growth: in 2023 these were +22% higher in 2023 compared to 2022.

  • Enhanced Consumer Reach: The product launch period from September to November 2023 attracted a substantial +78% increase in new consumers compared to the same timeframe in 2022, indicating a widened market presence.

  • Elevated Brand Loyalty: The product launch period from September to November 2023 also demonstrated a remarkable +97% increase in repeat purchase customers compared to the previous period, indicating an enhanced level of brand loyalty.

  • Even though the brand saw a 40% decrease in advertising budget in 2023 compared to 2022, record incremental sales were achieved with CPA, TACOS, and ROAS improvements performing 2x better than last year. For example, Laser Sight Digital improved ROAS performance from 3.24x (April 2023) to an average of 11.74x (Sept – Nov 2023). This represents a 262% increase in ROAS performance.Β 
a chart showing the historical retail sales and their gradual increase by work done by Laser Sight Digital.
a chart showing the decrease in CPA over time and the huge increase in ROAS by the work done by Laser Sight Digital.

Brand Overview

Byrna brand provides the best non-lethal self-defense products. When onboarding with Laser Sight Digital, their long-term goals were to grow their Amazon business and generate sustainable incremental revenue. To ensure incremental sales were delivered with a profitable margin, the teams aligned on advertising performance being at least a $3.50-$4.00 ROAS and avoiding significant increases in CPA. We were able to easily beat these benchmarks by averaging an 11.74x ROAS.Β 

The Challenges

The brand was in the process of discontinuing one of its top-selling parent ASINs and its variations, a product line that contributed to over +25% of overall retail revenue in 2022. Simultaneously, the brand was gearing up to launch a new product line with the intent to replace, in the mid-term to long-term, the previous top-selling line.

The old top seller was discontinued six months before the new product was launched, leaving the brand without one of its key revenue drivers. Consequently, the urgency to position the new product on Amazon became imminent to avoid potential sales loss. We had to figure out a way to position a brand-new product with no reviews or Amazon history of sales.

In addition, the brand faced reduced budgets for Amazon advertising year-over-year. The 2023 budget is -40% lower than the previous year. So we had to launch a new product and do it with significantly less ad budget than the previous year.

The Approach

Laser Sight Digital’s initial strategic move was to diversify advertised product lines, aiming to minimize any potential revenue loss resulting from the discontinuation of the top-selling product. This proactive approach sought to mitigate the impact on overall sales until the new product was available for purchase on Amazon.

  • The previous top-performing product was discontinued in March 2023.
  • The new product with replacement intent was launched in September 2023, later than originally anticipated.

Once the new product became available for purchase and promotion, Laser Sight Digital implemented a tailored strategy. This strategy was crafted based on a combination of internal insights and Amazon’s best practices.

  • Leveraging insights from past campaigns for the old top-selling product.

  • Fresh market research and potential targeting analysis to expand beyond previous reach.

  • A high degree of advertising diversification, incorporating both lower and mid-funnel tactics (ad styles). This included an expansion of targeting quantity improving targeting quality, and the incorporation of increased match types and targeting methods.

  • Laser Sight Digital strategically employed both Non-Branded and Branded targeting. However, there was a deliberate emphasis on Non-Branded targeting to capture consumers not actively searching for the brand, thereby generating conversions and expanding market share. The goal was to generate a balance of expanding the brand’s reach and unique customer base, in addition to improving brand loyalty and repeat purchases.

The Impact

Outstanding simultaneous 2023 results, great revenue growth, and notable profitability improvement:

  • ROAS increased by 159% YoY
  • CPA decreased -54% YoY.
  • TACOS decreased by -51% YoY.

  • September 2023 saw immediate success in positioning the new ASIN leading to +107% more retail sales MoM (over $345,500 more) and +34% higher retail sales YoY (over $170,000 more).

  • Record historical sales for the brand three months in a row in from October – December 2023, with over $3,600,000 in retail sales. This performance exceeded ByrnaΒ΄s previous average monthly record sales by +66% (over $500,000 incremental).

  • Laser Sight Digitial generated + 85% year-over-year growth in Q4 2023 with over $1,600,000 incremental revenue.

  • Increased reach with new consumers – the product launch period (September to November 2023) saw +70% more new consumers than the same time frame in 2022.

  • Improved brand loyalty – the product launch period (September to November 2023) saw +90% more repeat purchase customers compared to the previous period.

  • Quality of reached consumers improved as well, growing β€œTop Tier” consumers: β€œCustomers who purchased recently and spend the most. Most of these customers buy frequently.”
    • September to November 2023 saw +6% more top-tier customers than the same time frame in 2022.
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