using ecommerce data to significantly boost conversions and roi

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Sean Godier, VP of eCommerce for Business-Supply.com, has generated significant lifts in conversion rates and ROI by leveraging eCommerce data to send the right message to the right person at the right time. He was able to instantly sync his shopping cart data from AspDotNetStorefront to Bronto, which then enabled him to fully utilize powerful tools in the Bronto platform to achieve impressive results. Sean will cover RFM Segmentation (best customers, churning customers), automated replenishment campaigns using Bronto's Workflow feature, and share specific performance statistics to demonstrate the success he's had by practicing "Engaged Commerce."

TRANSCRIPT

Page 1: Using eCommerce Data to Significantly Boost Conversions and ROI
Page 2: Using eCommerce Data to Significantly Boost Conversions and ROI

Using Ecommerce Data to Significantly Boost Conversions and ROISean Godier

VP, Ecommerce

Business Supply

Page 3: Using eCommerce Data to Significantly Boost Conversions and ROI

The Value of Targeting…

Targeting delivers increased value

RFM Analysis

Recency, Frequency, Monetary (and Spend)

Other ways to measure

Consistently relevant, lower complaints, higher AOV

Page 4: Using eCommerce Data to Significantly Boost Conversions and ROI

Meet RFM Analysis

Frequency – Number of purchases made

Recency – Number of days or months since last purchase

Monetary Value – Amount spent by a customer

Page 5: Using eCommerce Data to Significantly Boost Conversions and ROI

First, Sort and Split “Recency”

Quartile 4 (R=4)

Quartile 3 (R=3)

Quartile 2 (R=2)

Quartile 1 (R=1)

Page 6: Using eCommerce Data to Significantly Boost Conversions and ROI

Continue with “Frequency” &“Monetary”

Quartile 4 (M=4)

Quartile 3 (M=3)

Quartile 2 (M=2)

Quartile 1 (M=1)

Quartile 4 (F=4)

Quartile 3 (F=3)

Quartile 2 (F=2)

Quartile 1 (F=1)

Page 7: Using eCommerce Data to Significantly Boost Conversions and ROI

Best Customer (R1-F1-M1)

Quartile 4 (M=4)

Quartile 3 (M=3)

Quartile 2 (M=2)

Quartile 1 (M=1)

Quartile 4 (F=4)

Quartile 3 (F=3)

Quartile 2 (F=2)

Quartile 1 (F=1)

Quartile 4 (R=4)

Quartile 3 (R=3)

Quartile 2 (R=2)

Quartile 1 (R=1)

Page 8: Using eCommerce Data to Significantly Boost Conversions and ROI

Marketing to Best Customers (R1-F1-M1)

Exclusive preview of new products.

Early access to limited inventory.

Exclusive discounts or offers.

Free gift for best customers.

“We Love You”

“You’re The Best”

“Thank you!”

“Exclusive… Just for you!”

Recency(Top Quartile)

Monetary Value(Top

Quartile)

Frequency(Top

Quartile)

Page 9: Using eCommerce Data to Significantly Boost Conversions and ROI

Churning Clients (R4-F1-M1)

Quartile 4 (M=4)

Quartile 3 (M=3)

Quartile 2 (M=2)

Quartile 1 (M=1)

Quartile 4 (F=4)

Quartile 3 (F=3)

Quartile 2 (F=2)

Quartile 1 (F=1)

Quartile 4 (R=4)

Quartile 3 (R=3)

Quartile 2 (R=2)

Quartile 1 (R=1)

Page 10: Using eCommerce Data to Significantly Boost Conversions and ROI

Marketing to Churning Clients (R4-F1-M1)

Win Back Campaigns.

Aggressive Discounts to Re-engage.

Incentivized Reviews / Surveys.

Personal Appeals from Execs.

“We Miss You!”

“Baby, Come Back!”

“$25 Gift Card for Survey”

Recency(BOTTOM Quartile)

Monetary Value(Top

Quartile)

Frequency(Top

Quartile)

Page 11: Using eCommerce Data to Significantly Boost Conversions and ROI

One Foot Out the Door…

Challenge: Churning Customers

Solution: Automated Win Back

Results: 20% re-engagement

Page 12: Using eCommerce Data to Significantly Boost Conversions and ROI
Page 13: Using eCommerce Data to Significantly Boost Conversions and ROI

Rewarding Loyalty…

Target: Best Customers

Segment: RFMS =<6

Solution: Exclusive Reward

Results: 38% Open 44% CTC

Page 14: Using eCommerce Data to Significantly Boost Conversions and ROI

Replenishments

Target: Buyers of consumables

Segment: Varies

Solution: Targeted Workflow

Results: 20-50x Increase in Revenue

Page 15: Using eCommerce Data to Significantly Boost Conversions and ROI
Page 16: Using eCommerce Data to Significantly Boost Conversions and ROI

Price Drops

Challenge: Price Reduction

Segment: Custom

Results: 14k on 13,000 sends. Remail added another 7k.

Page 17: Using eCommerce Data to Significantly Boost Conversions and ROI
Page 18: Using eCommerce Data to Significantly Boost Conversions and ROI

How Are We Doing?

Want: Customer Feedback

Solution: Mini-survey with coupon incentive

Results: 13% Response

Page 19: Using eCommerce Data to Significantly Boost Conversions and ROI
Page 20: Using eCommerce Data to Significantly Boost Conversions and ROI

100x Increase in Revenue Per Email (RPE)

Problem: Need some revenue fast

Segment:

• RFM =<6• RA 6/1/11 or after• S=<3• FA=>2

Results:

• 15% Higher AOV• 134x Revenue per email• 6.4x Revenue from 1/21st of Customers (compared to

Batch N Blast)

Page 21: Using eCommerce Data to Significantly Boost Conversions and ROI

How Did I Pull This Off? Windsor Circle

Custom Data Feed

Page 22: Using eCommerce Data to Significantly Boost Conversions and ROI

The Windsor Circle Promise

Bronto Integrated Partner

Page 23: Using eCommerce Data to Significantly Boost Conversions and ROI

Tips

Exclusivity

Targeted

Test. Test. Test…

Get feedback

Discount sparingly

Photos

Scrub carefully

Welcome, thank you series

Remail

Consistent voice

GIVE A CRAP

Page 24: Using eCommerce Data to Significantly Boost Conversions and ROI

Thanks…

Sean GodierVP, Ecommerce

[email protected]

Twitter: @seangodier