Client Success Story - Shoe Retailer
This shoe retailer has been an industry leader for over 30 years and has both an online and brick-and-mortar presence on both east and west sides of the United States. With 141K MUVs (monthly unique visitors) and solid name recognition the challenge was to show our client that our campaigns truly will bring new shoppers that had never been to their shops before.
Q: How do you improve on an 18% conversion rate?
A: Bring it up to over 32%.
From July 1-July 31st, 2016
Hivewyre was able to achieve the following results:
32% Conversion Rate
When a company is hitting 141K MUVs, then something is going definitely right for that company. And when you add that the company’s online conversion rate is hovering at 18%, then you may think why would they decide to use Hivewyre? Because we have data that they could not find anywhere else (because it’s ours - from Hivewyre’s exclusive data co-op)...Oh yeah, and because of this data, the shoppers we brought to our client’s site converted at a whop-ping 32.33% rate. .
Nearly 80% More Conversions
The increase in conversions by almost 80% with the new shoppers we were bringing to this site compared to what this company was converting 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 an impressive $19.04 and the cost per visitor (CPV) was only $1.66. Meaning, our campaign for this client was very cost effective because each new shopper brought to this site was a net gain of $17.38.
But let’s find out what else was good:
2969 - new shoppers brought by Hivewyre (NS)
960 - Hivewyre shoppers converted (HSC)
Revenue from shoppers = $56,529
Cost of getting new shoppers = $4,929
Net gain/loss = $51,600
Avg. Net = $17.38 (AN)
Avg. order by converted shoppers = $92.50
$8,800 total order
Overall gain: $123,716
Overall gain = (Total order + ((NS-HSC) x AN)
Lower Average Order - No Problem!
We did see a 12.70% decrease in order value from the shoppers we were bringing to this site vs. the site’s overall average order value ($92.50 vs. $105.96).
But because the shoppers we were getting to the site converted close to 80%more often than the site’s other shoppers, this little dip in average order value did not hurt our campaign’s overall effectiveness.
Using the number of new visitors our campaign brought to the site (2969) and substituting the site’s overall conversion rate (18%), this would have netted the site 534 new purchases at $105.96 each or $56,582.
This is over $30K less than what our campaign was able to generate for this shoe company with the second-party data from our ecommerce data co-op.
Other 2016 Client Success Stories: