E-commerce -
Food & Beverage, Consumables
Retained 240 customers daily. On average 40 additional customers with AOV $170
Additional Revenue $160K monthly ROI 14X
Overview
A Fortune 500 beverage and e-commerce company running 23 wine brand websites. The company just relaunched its main e-commerce website. The relaunch included changes in their sales approach and product portfolio structure to tackle revenue growth.
Problem
The main problem was identifying the conversion blockers on the new site. The site has to show the revenue results quickly.
The lack of analytics and engineering resources makes it problematic to solve the issue within a reasonable budget and time.
Solution
Based on Google Analytics data, after the website launch, the conversion to sales was lower, customers researched the main page and there is a lack of clicks to Product Detail Pages (PDP).
Insightarc connected a solution via JS code connector to the website. Our algorithms built the full statistical model of the website to discover all the possible on-site shopping journeys and conversion blockers. At the start, the website had 5.000 daily sessions. The algorithms identified 32% of daily visitors as valuable but close to exit. About 1600 exits are predicted and intercepted daily.
For every anonymous customer Insightarc identifies buying intent and next steps, including exit probability. Insightarc intercepts about-to-exit shoppers with hyper-personalized offers based on buying intent. The offer is delivered via pop-up by ConvertFlow. Pop-ups were shown only to tend to exit shoppers, and not touch other visitors, so the company avoided negative customer experience.
Results
The Click Through Rate (CTR) for hyper-personalized popups is an average of 20%. The solution implemented helps retain 300-400 shoppers daily, with on average of 60-80 of them converted into buyers daily.
Insightarc.com helped the e-commerce website address conversion blockers and retain customers leading to significant revenue growth on autopilot without expensive manual analysis and tech changes.
ROI
The value of retained visitors is $1.2 million in annual perspective (retained, click through the offer, added the product to the shopping cart). The increase in daily revenue is about $6,000 which is about $160,000 monthly. (shoppers click through the offer before exiting and successfully purchasing). ROI 14X.