Client Success Story - Women's Apparel Retailer
When a client, which is a women's apparel shop, has nearly 500 brick-and-mortar stores across the country, almost half a million monthly unique visitors (MUVs) to its website and been in business since the late ‘80s, how do you go about increasing this company’s reach? Simple, you add this business to Hivewyre’s exclusive and trusted ecommerce data co-op, where its business is only exposed to shoppers looking for women’s apparel who have not yet visited its online retail space.
Q: If order values stay constant how do you grow?
A: Increase conversions by over 400%.
From July 1-July 31st, 2016
Hivewyre was able to achieve the following results:
25% Conversion Rate?!
A company that has just under 500K MUVs is obviously doing a pretty good job getting the word out about its brand. But with any company, there is always room to grow. Hivewyre saw this opportunity with this established women’s apparel retail site and felt confident that by exposing this business to our monthly 12-million women’s apparel unconverted shoppers, that growth and new business was as close to an absolute as possible for our client... And low and behold, the shoppers Hivewyre brought to our client converted at nearly an unimaginable 24.92% rate.
Nearly 5x More Conversions
The increase in conversions by almost 500% 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 methodology.
Revenue Per Visitor vs CPV
The average revenue per visitor on this women's apparel site was $3.96 and the cost per visitor (CPV) was only $1.59. Meaning, our campaign for this client was definitely cost effective because each new shopper brought to this site was a net gain of $2.37.
But let’s find out what else went well:
7259 - new shoppers brought by Hivewyre (NS)
1809 - Hivewyre shoppers converted (HSC)
Revenue from shoppers = $28,745
Cost of getting new shoppers = $11,542
Net gain/loss = $17,203
Avg. Net = $2.37 (AN)
Avg. order by converted shoppers = $92.92
$168,092 total order
Overall gain: $181,009
Overall gain = (Total order + ((NS-HSC) x AN)
Higher Average Order - Added Bonus!
We did see a small 1.02% increase in order value from the shoppers we were bringing to this site vs. the site’s overall average order value ($92.92 vs. $91.98).
So this becomes just an added bonus this client received from working with us. Combine the nearly $1 extra spent per order with our higher conversion rate and you will see the big bump we gave to our client’s revenue.
Using the number of new visitors our campaign brought to the site (7259) and substituting the site’s overall conver-sion rate (4.3%), this would have netted the site 312 new purchases at $91.98 each or $28,710.
This is just under $140K less than what our campaign was able to generate for this women’s apparel company by leveraging the exclusive second-party data from our ecommerce co-op.
Other 2016 Client Success Stories: