MoneyMe
82% of originations from SEO
ViewHow Sheridan Generated $10.78M in Attributed Revenue with 6.8-11.4x GPROI
Board-ready ROI metrics for national retailer. SEO became the #1 traffic and revenue source with 38% combined Share of Voice—the numbers the CFO presented to the board.
The Challenge
Sheridan operates two digital properties: Sheridan Boutique (premium positioning) and Sheridan Factory Outlet (value positioning). Both competed in a saturated home goods category where established players with larger budgets dominated search results.
The marketing team faced a familiar problem: they knew SEO was driving traffic, but couldn't prove it was driving revenue. Monthly reports showed sessions and rankings, but when the CFO asked about ROI, the answer was always 'it's complicated.' Without clear attribution, SEO budget was perpetually at risk.
Meanwhile, competitive pressure was intensifying. Share of Voice was fragmented—Sheridan held decent positions but wasn't dominant in any category. Premium keywords like 'bed linen' saw Sheridan buried on page 3. Value keywords like 'cheap cushions' were untapped opportunities.
The board needed answers the agency reports couldn't provide: What's the actual return on SEO investment? Should we increase spend, maintain it, or cut it? And how do we compare to competitors beyond just rankings?
- Couldn't prove revenue attribution from organic channel
- Competing in saturated retail category with budget constraints
- Two properties (Boutique + Outlet) with different positioning needs
- Board skepticism about SEO investment without clear ROI
The Solution
We implemented a dual approach: technical SEO excellence combined with revenue attribution that would satisfy CFO-level scrutiny.
For Sheridan Boutique, we focused on premium category ownership. 'Bed linen' improved 20 positions—from page 3 to position 1. 'Cushions' improved 39 positions—from unranked to position 8. We targeted the 1000TC premium segment where margins justified higher acquisition costs.
For Sheridan Outlet, the strategy centered on value-conscious keywords. We achieved position 1 for 'cheap cushions' and dominated the super king category with all keywords in top 3 positions. Different audience, different keywords, coordinated strategy.
Most importantly, we built attribution models that connected organic traffic to actual revenue. Not just 'assisted conversions'—direct, quantifiable gross profit return on investment. When the CFO asked 'what's the ROI?', we had a number: 6.8x in FY15, improving to 11.4x in FY16.
We also implemented automated competitor monitoring across the top 10 competitors, enabling proactive strategy adjustments rather than reactive reporting.
Our Approach
- Dual-Property Strategy
- Boutique targeted premium categories; Outlet targeted value-conscious segments
- Technical SEO Foundation
- Site architecture, internal linking, page speed, schema implementation
- Category Expansion
- Extended beyond core bed linen to homeware, gifting, and premium 1000TC
- Revenue Attribution
- GPROI calculation methodology—gross profit return per dollar invested
- Competitive Intelligence
- Automated monitoring of top 10 competitors for proactive strategy
The Results
Over two fiscal years, Sheridan's organic program delivered measurable, board-ready results across both properties.
Ranking Achievements
'Bed linen': +20 positions
Page 3 → Position 1
'Cushions': +39 positions
Unranked → Position 8
'Cheap cushions': Position 1
Outlet value capture
Super king category: All top 3
Complete category ownership
56+ position improvements
Post-migration recovery
Market Position
38% combined Share of Voice
#2 position in category
Maintained SOV during EOFY
While 50% of top 10 competitors lost ground
Key Lessons
Revenue attribution transforms the CFO conversation
When you can show 6.8-11.4x GPROI, SEO budget becomes a growth investment, not a cost to scrutinize. Sheridan's CFO presented these numbers to the board—not rankings, revenue.
Multi-property strategies require coordination
Boutique and Outlet had different positioning, different keywords, and different audiences—but coordinated strategy prevented cannibalization and maximized total SERP coverage.
Domain migrations don't have to tank performance
Outlet's domain migration created challenges, but systematic recovery rebuilt rankings to competitive positions within 10 weeks. Revenue grew 11% YoY despite the disruption.
Incremental investment shows clear ROI
Q4 FY15 demonstrated this perfectly: $152K incremental spend generated $576K incremental revenue. When you can prove the return, scaling becomes obvious.
Category expansion creates compounding value
Starting with core bed linen, expanding to homeware, gifting, and premium categories meant organic growth continued even as primary keywords matured.
"I partnered with NETEVO when I was managing the Digital Marketing at Sheridan Australia. With a strong brand and ambitious sales targets we needed a partner in the digital space that could move the dial for our e-commerce websites. NETEVO helped us deliver and exceed the targets on the Sheridan Boutique and Sheridan Outlet consistently over the past few years. NETEVO grew the SEO channel 40% YoY ever since we engaged the team. The Account Service at NETEVO is experienced and professional I would happily recommend them to anyone who takes needs qualified traffic from an SEO agency that can definitely get it for you."
Rod Le Serve
Digital Marketing Manager
Sheridan Australia Pty Ltd
Want Board-Ready Organic ROI Metrics?
If you're a marketing leader who needs to prove SEO revenue to leadership, let's talk about building attribution models that satisfy CFO-level scrutiny.