Leading Online Eyewear Retailer Increases Conversion Rate by...
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www.ID.me Copyright © 2018 ID.me, Inc. Contact Info: [email protected] Leading Online Eyewear Retailer Increases Conversion Rate by 7x RETAIL CASE STUDY Challenge A leading online eyewear retailer wanted to expand online revenue by leveraging targeted promotions for members of the military, veterans, and first responders. A historically full-price brand, with an AOV of $177, the retailer’s E-Commerce team was tasked with finding a solution that would both increase conversions and maintain the integrity of their pricing position. The promotions needed to be exclusive and private, but – unlike physical ID checks in their brick and mortar stores – the retailer had no method for verifying eligibility online. Solution Integrating ID.me enabled the E-Commerce team to confidently deliver the most exclusive in-cart offers without the risk of fraud. Selecting the top-shelf verification solution on the market also guaranteed that the luxury retailer’s brand integrity would not be jeopardized. With its new ability to target specific customer segments, like the military and first responders, the retailer could offer an incentive and test the impact on conversions. Results One month after launching the incentive, the retailer recorded a 10.8% conversion rate amongst their ID.me users. In two months, that became 11.3%; three months after launch the conversion rate climbed to 13.5%; and four months out that number hit 14.6%, which is 7x higher than their standard conversion rate (2.1%). The retail landscape continues to shift. Shoppers now head to the Internet rather than the mall, use search engines to find the lowest prices, and have easy access to attractive, comparable alternatives. Increased competition has traditional and contemporary retailers alike devising new strategies for consumer retention and sales growth. In addition to the outstanding impact on conversion rate, the retailer also gathered consumer data on each customer who verified for their incentive. That empowered the E-Commerce team to develop meaningful relationships with their customers and re-target those customers with incredibly personalized messages – an essential when it comes to loyalty and retention. Retailer’s non-ID.me users Retailer’s ID.me users 3% 0% Pre-Integration 6% 9% 12% 15% 18% 120 Days Out Integration Complete 30 Days Out 60 Days Out 90 Days Out 2.1% 14.6% Conversion Rate Before and After Integrating ID.me
Transcript of Leading Online Eyewear Retailer Increases Conversion Rate by...
www.ID.meCopyright © 2018 ID.me, Inc.
Contact Info:[email protected]
Leading Online Eyewear Retailer Increases Conversion Rate by 7x
RETAIL CASE STUDY
ChallengeA leading online eyewear retailer wanted to expand online revenue by leveraging targeted promotions for members of the military, veterans, and first responders. A historically full-price brand, with an AOV of $177, the retailer’s E-Commerce team was tasked with finding a solution that would both increase conversions and maintain the integrity of their pricing position. The promotions needed to be exclusive and private, but – unlike physical ID checks in their brick and mortar stores – the retailer had no method for verifying eligibility online.
SolutionIntegrating ID.me enabled the E-Commerce team to confidently deliver the most exclusive in-cart offers without the risk of fraud. Selecting the top-shelf verification solution on the market also guaranteed that the luxury retailer’s brand integrity would not be jeopardized. With its new ability to target specific customer segments, like the military and first responders, the retailer could offer an incentive and test the impact on conversions.
ResultsOne month after launching the incentive, the retailer recorded a 10.8% conversion rate amongst their ID.me users. In two months, that became 11.3%; three months after launch the conversion rate climbed to 13.5%; and four months out that number hit 14.6%, which is 7x higher than their standard conversion rate (2.1%).
The retail landscape continues to shift. Shoppers now head to the Internet rather than the mall, use search engines to find the lowest prices, and have easy access to attractive, comparable alternatives. Increased competition has traditional and contemporary retailers alike devising new strategies for consumer retention and sales growth.
In addition to the outstanding impact on conversion rate, the retailer also gathered consumer data on each customer who verified for their incentive. That empowered the E-Commerce team to develop meaningful relationships with their customers and re-target those customers with incredibly personalized messages – an essential when it comes to loyalty and retention.
Retailer’s non-ID.me users Retailer’s ID.me users
3%
0%
Pre-Integration
Conv
ersi
on R
ate
6%
9%
12%
15%
18%
120 DaysOut
IntegrationComplete
30 Days Out
60 Days Out
90 Days Out
2.1%
14.6%
Conversion Rate Before and After Integrating ID.me
