Client Success Story - Indoor Home Retailer
An established company, which has been in the indoor home & furniture space for over half a century and has nearly two dozen brick-and-mortar stores across the country, was intrigued with our unique campaign strategy. Becoming part of Hivewyre’s exclusive ecommerce data co-op found this client new shoppers and great metrics in numerous categories
Q: When is a lower average order a good thing?
A: When you’re getting 3.5x more orders than usual.
From July 1-July 31st, 2016
Hivewyre was able to achieve the following results:
18% Conversion Rate?!
Even when you have over 130K MUVs (monthly unique visitors) to your site you still want to find advertising methods which will find new qualified shoppers to your online store. Our client’s overall conversion rate was pretty strong by industry standards at 4%; but when you looked at the 17.99% conversion rate we brought to this retailer with our second-party data, there really was no comparison.
3.5x More Conversions
With an increase in conversions by nearly 350% with the new shoppers we were bringing to our client’s site compared to what they were doing before using Hivewyre, it’s hard to argue with our data and methods.
Revenue Per Visitor vs CPV
The average revenue per visitor on this site was $6.11 and the cost per visitor (CPV) was $2.63. So our campaigns were very cost effective because for each new shopper we brought to this client’s site, there was a net gain of $3.48.
But let’s see other benefits:
2501 - new shoppers brought by Hivewyre (NS)
450 - Hivewyre shoppers converted (HSC)
Revenue from shoppers = $15,281
Cost of getting new shoppers = $6,578
Net gain/loss = $8,703
Avg. Net = $3.48 (AN)
Avg. order by converted shoppers = $127.08
$57,186 total order
Overall gain: $64,323
Overall gain = (Total order + ((NS-HSC) x AN)
Lower Average Order - No Problem!
We did see a 16.32% decrease in order value from the shoppers we were bringing to this site vs. the site’s overall average order amount ($127.08 vs. $151.87).
But because the shoppers we were getting to our client converted 3.5 times more often than the client’s other shoppers, this drop in average order value did not hinder our campaign’s overall effectiveness.
Taking the number of new visitors our campaign brought to the site (2501) and using the site’s overall conversion rate (4%), one would net 100 new purchases at $151.87 each or $15,187.
This is over $40K less than what our campaign was able to generate for this indoor home/furniture company with the second-party data from our ecommerce data co-op.
Other 2016 Client Success Stories:
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