Client Success Story - Apparel Retailer
When you are an international apparel retailer with more the 5000 stores and 2 million monthly unique visitors (MUVs) to your website, the question arises what could a company like Hivewyre bring to the table that it hadn’t been approached about before? Answer - An exclusive ecommerce data cooperative with over 95+ million unique monthly shoppers, who are actively looking to make purchases on similar products that this apparel site sells.
Q: When is a 10.3% conversion rate not good enough?
A: When we are able to get you closer to 40%.
From July 1-July 31st, 2016
Hivewyre was able to achieve the following results:
38.21% Conversion Rate
Even when you’re one of the bigger fish in the apparel industry, you are still trying to find different ways to reach out to new potential customers. Hivewyre’s first focus has always been new customer acquisition. With this apparel client, we were able put its business in front of over 8-million unconverted shoppers, who had just left other apparel sites within our ecommerce data co-op. The result was quite impressive. This site’s usual strong conversion rate was at 10.3%, but the shoppers Hivewyre was able to bring to this client’s website converted at an astounding 38.21% rate
Nearly 3x More Conversions
With an increase in conversions by over 271% with the new shoppers we were bringing to this site compared to what our client was converting before using Hivewyre, it’s hard to argue with our data and methodology.
Revenue Per Visitor vs CPV
The average revenue per visitor on this site was $9.48 and the cost per visitor (CPV) was $1.78. Meaning, for every new visitor brought to this site, there was a net gain of $7.70. Not too bad of a trade-off.
Let’s see what else went well:
9146 - new shoppers brought by Hivewyre (NS)
3495 - Hivewyre shoppers converted (HSC)
Revenue from shoppers = $86,704
Cost of getting new shoppers = $16,280
Net gain/loss = $70,424
Avg. Net = $7.70 (AN)
Avg. order by converted shoppers = $78.18
$273,251 total order
Overall gain: $316,763
Overall gain = (Total order + ((NS-HSC) x AN)
Lower Average Order - No Need to Fret!
We did see a 15.32% decrease in order value from the shoppers we were bringing to this site vs. the site’s overall average order value ($78.18 vs. $92.32).
But because Hivewyre’s campaigns brought nearly 3x more conversions than this client’s conversion rate before starting with us, there was no negative effect brought by this discrepency.
Taking the number of new visitors our campaign brought to the site (9146) and substituting the site’s overall conversion rate (10.3%), the company would have netted 942 new purchases at $92.32 each or $86,965, with the type of shoppers it was getting previously.
This is closing in on $190K less than what our campaign was able to generate for this apparel company with the second-party data from our ecommerce co-op.
Other 2016 Client Success Stories: