Post on 14-Apr-2017
transcript
Presenters
Meni Morim CEO of Findify
Zsuzsa Kecsmar CMO of Antavo
Findify is an intelligent search tool that helps you learn more about your customers’ behavior and increase your revenue.
Antavo is a loyalty software for ecommerce, retail, and CPG companies. It helps to run omni-channel loyalty programs to increase revenue.
Topics 1. Why being lovable matters 2. How Animail.se increased its
revenue by 10% in 3 weeks 3. How Shop.Builder.eu generated
4x ROI in 90 days
1. What Customers Want From Ecommerce Stores
76% of customers�want kind customer service
69% of customers�want to be recognized and
rewarded
64% of customers�want shared values with brands
62% of customers�want online content
from brands
48% of customers�want a seamless purchase
experience
41% of customers�want a personalized
experience
*Sources: ecommerceloyalty.com, blog.accessdevelopment.com, insightsquared.com, salesforce.com, blog.hubspot.com, citygro.com
76% of customers�want kind customer service
2. What Customers Want From Ecommerce Stores
In 2015, 35-50% of sales went to competitors who responded faster to a customer question.* Source: blog.purechat.com
**Screenshots are from Purechat.com
3. What Customers Want From Ecommerce Stores
Loyalty Program
Coupons can improve conversion rate to fans by up to 33% and grow the number of followers by 25%.* Source: ecommerceloyalty.com
69% of customers�want to be recognized and �
rewarded
***1st screenshot is from Couponpop and the 2nd is from Antavo.
4. What Customers Want From Ecommerce Stores
66% of millennials left their brand of choice because the brand no longer fit their identity.* Source: LimCollege via blog.accessdevelopment.com
****Screenshots are from Qbic.
64% of customers�want shared values with brands
5. What Customers Want From Ecommerce Stores
*1st screenshot is from The Shelf and 2nd screenshot is from Luxy Hair. Learn video marketing tips on the Saleslion.com and the Shopify Blog.
62% of customers�want online content �
from brands
73% of millennials feel that it is their responsibility to help their friends to make the right purchase decision. Source: socialmediaweek.org
6. What Customers Want From Ecommerce Stores
*1st screenshot is from Formisimo, 2nd screenshot is from Stripe.
The average cart abandonment rate in 2015 was 68%.* Source: ecommerceloyalty.com
48% of customers�want a seamless purchase �
experience
7. What Customers Want From Ecommerce Stores
*1st screenshot is from Amazon, 2nd screenshot is from Findify.
Personalized offers improve click-through rates by 14% and conversion rates by 10%.* Source: echidnainc.com
41% of customers�want a personalized �
experience
7. Customers Who Love You…
It’s 7x more expensive to acquire a new customer than to keep an existing one.
Source: Spoken.com
Make more purchases
Become brand advocates
Refer their friends
Learn more about how to be lovable at Meaningful-brands.com.
1. About Animail.se
Established in 2007, Animail is now the leading online pet supply store in the Nordics.
150,000+ customers
200,000+ monthly site
visits
10,000+ monthly orders
6,000+ SKUs
2. Animail.se’s Problem
Animail invested a lot of time and money bringing traffic into its site, and needed to optimize conversion rates.
Animail had to identify, which segment of its users had the biggest potential for revenue growth, with the lowest investment required? The answer was - searchers.
1. What is the difference between "searchers" and "browsers"?
2. Why is it important to invest in "searchers"?
3. Animail’s Solution
Animail decided to run an A/B test on 50% of its traffic, to determine how much more value it could actually see through an improved search.
- Brand new learning autocomplete - Machine-learning-powered search
results - Custom-built synonyms - Search merchandizing capabilities
The newly added components were:
3. Animail’s Solution
Animail decided to run an A/B test on 50% of its traffic, to determine how much more value it could actually see through an improved search.
- Brand new learning autocomplete - Machine-learning-powered search
results - Custom-built synonyms - Search merchandizing capabilities
The newly added components were:
3. Animail’s Solution
Animail decided to run an A/B test on 50% of its traffic, to determine how much more value it could actually see through an improved search.
- Brand new learning autocomplete - Machine-learning-powered search
results - Custom-built synonyms - Search merchandizing capabilities
The newly added components were:
3. Animail’s Solution
Animail decided to run an A/B test on 50% of its traffic, to determine how much more value it could actually see through an improved search.
- Brand new learning autocomplete - Machine-learning-powered search
results - Custom-built synonyms - Search merchandizing capabilities
The newly added components were:
4. Animail’s Results
An A/B test that ran for 3 weeks and reached 95% confidence level showed a 10% total revenue uplift.
Animail already had a pretty good search solution in place, with basic spelling tolerance and filtering.
4. Animail’s Results
After implementing the solution on 100% of the traffic, search-generated revenue continued to grow at an average rate of 5% faster than non-search-generated revenue.
This is a direct result of the learning feature in the search. The more customers use it, the smarter it becomes.
1. About Shop.Builder
With an online store launched in 2000, Shop.Builder is now the leading online nutritional supplement store in Europe. Today it serves 10 countries, including the UK, Ireland, Germany, and Hungary.
157,000+ customers
266,000+ monthly site
visits
14,790+ monthly orders
2. Shop.Builder’s Problem
Shop.Builder’s marketing strategy is built on: “Engage or die.” (Quote from Brian Solis) Remember: “62% of customers want online content from brands.”
Shop.Builder had the content to educate customers, but it still faced 3 main challenges:
• Converting one-time customers to frequent buyers
• Increasing user logins • Boosting interaction with its
content
3. Shop.Builder Solution
Shop.Builder launched a point-based loyalty program to let customers collect points and then redeem them for awesome rewards.
Purchase-driven loyalty program approach:
Makes a purchase
Redeems rewards
Collects points
3. Shop.Builder Solution
Shop.Builder launched a point-based loyalty program to let customers collect points and then redeem them for awesome rewards.
Purchases
Collects points
Refers visitors
Watches videos
Plays quizzes
Shop.Builder’s gamified loyalty program approach:
Redeems rewards
3. Shop.Builder’s Solution
1. Rewarding referrals Customers needed to share an article via social media, email, or chat. Once a visitor came from the share, the customer was rewarded with points. It helped to get word-of-mouth.
In one week 2,200 new prospects visited the shop’s site, thanks to 44 advocates.
3. Shop.Builder’s Solution
2. Rewarding reviews When a customer wrote a review, he received points. A perfect way to get social proof for Shop.Builder’s products. It also strengthened the webstore SEO and improved its rank in search results.
With this incentive, Shop.Builder received 3x the number of incoming reviews.
3. Shop.Builder’s Solution
3. Rewarding content consumption Shop.Builder wanted to make sure that its message came across and that customers really consumed its content. That’s why it created content quizzes.
So, when a customer visited a page or watched a video, a call-to-action asked them to complete a quiz for more points. Then the question with 3-4 answers appeared.
3. Shop.Builder’s Solution
Rewards are the heart of a loyalty program. They are what makes customers sign up to a loyalty program and stay active in it in the long run.
Rewards should make customers feel: 1. Positive emotions 2. Part of a community 3. Exclusivity
3. Shop.Builder Solution
Rewards are the heart of a loyalty program. They are what makes customers sign up to your program and stay active in it in the long run.
Shop.Builder included the following rewards on its lists:
- Relics - Badges - Discounts - Sweepstakes - Branded items
4. Shop.Builder’s Results
After 3 months, this is what Shop.Builder achieved:
+51.1% frequent buyers
+3.2 revenue
+17.2% logins
+373.4% product reviews
ABOUT FINDIFY Findify is an intelligent search solution that uses big data and machine learning to help ecommerce sites increase their revenue. Our three main features: - Incredibly simple integration via our modules,
or Javascript libraries. - Easily collect behavioral data and use of
machine learning to dynamically adapt the search results and magically match what your customers are looking for.
- Actionable analytics that give you insight into what your customers are really doing, combined with a simple dashboard to act on these insights.
ABOUT ANTAVO Antavo is a loyalty software for e-commerce, retail, and CPG companies delivering 5x ROI. It helps to run omni-channel loyalty programs to increase revenue. Our three main features: - Gamified loyalty programs - Customer referrals - Incentivized purchases
5. Special Offer
- One-on-One consultation session
- Beta tester opportunity for our product
- 50% off for two months for all Shopify merchants
- UX analysis
DO YOU HAVE ANY QUESTIONS?
Meni Morim, CEO of Findify meni@findify.io
Zsuzsa Kecsmar, CMO of Antavo zsuzsi@antavo.com