Insight Presentation: "How to Move the Needle in eCommerce"
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Transcript of Insight Presentation: "How to Move the Needle in eCommerce"
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@RichardCohene
Richard Cohene Director of Marketing &
Business Development
Insight Presentation
“How to Move the Needle in eCommerce”
Beyond the Rack
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How to Move the Needle in eCommerce
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Members-only access
Distinct sales events start every day
Limited-time (48 to 36 hours)
Limited-quantity
Deep discounts (40% to 85% off retail)
First-come / first-served
Selection refreshed daily
WHAT WE DO
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IT’S A MARKETPLACE…
A WIN-WIN SCENARIO
It’s what consumers want Value-conscious shopping
Convenience
Entertainment
It’s what brands need Convert excess / idle inventory into cash
Discreet, brand-enhancing clearance channel
Brand exposure
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Over 5,000 Brands and 12 Merchandise Categories Fashion, Accessories, Footwear, Home, Jewelry, Beauty, Kids, Men’s, Consumer
Electronics, Travel, Lingerie, Swim
20 Events – 8,000 Items Every Day
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Operations in Montreal, New York, Las Vegas and Toronto
Ship 30K shipments per day
#3 fastest growing company Canada for 2012 (Profit Magazine)
#1 fastest growing online retailer for 2011 (Internet Retailer)
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How We Did It In 6 Easy-to-Follow Steps
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1. ESTABLISH BRAND EQUITY
Ever-evolving
On-trend
Seasonality
Real time
KEEPING PACE
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Featuring magazine editors, famed TV hosts, and much more!
2. BUILD A COMMUNITY OF ADVOCATES
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Facebook – Twitter – Pinterest – Google+ – Instagram
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“Thank you for your quick and prompt replies and for your great customer service! You greatly made up for this error in shipping in a fast and fair manner. Thanks again and looking forward to do some more shopping on BTR!”
“Customer service is one of the best that I have come across. The company is eager to satisfied its customers.”
“Customer service was top notch. Their willingness to go out of their way to satisfy my shopping experience just makes me want to return as a customer.”
4. SATISFACTION. PERIOD.
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4. CORPORATE CULTURE
Responsibility
is taken
not given
Merchandising, Marketing, Creative Services, Photography, Production, Imaging, Styling…
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5. EMBRACE FAILURE
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6. IT’S ALL ABOUT THE DATA
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It’s All About The Underlying Equation Build The Business Model One Assumption at a Time
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The Bottom Line is if You Aren’t TESTING….
MEASURE & TEST EVERYTHING
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YOU ARE
GUESSING
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CONFIDENTIAL 21 CONFIDENTIAL 21
$-
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
$35.00
$40.00
$45.00
$50.00 Cost of Acquiring a BUYER
From the cost of acquiring a buyer – in $ and time
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22 CONFIDENTIAL 22
6% 13% 11% 11% 10%
17% 11% 14%
19% 24%
17% 21% 26%
21% 17% 15% 11% 15% 16% 14% 16% 16% 17% 18% 16% 19% 19% 16% 16%
27% 24%
26% 27% 27% 22% 22%
17% 23% 20%
29% 39% 22%
20% 22%
41% 24%
21% 21%
15% 16%
6% 9% 7% 9% 8% 8% 7% 8% 8%
7% 9% 15% 12%
68% 66% 61% 61% 60%
65% 67% 73%
67% 67%
55% 50%
64% 61% 54%
42%
55% 53% 58%
68% 69%
83% 76% 78% 77% 76% 76% 76% 74% 76% 74% 72% 69% 72%
Jan
-10
Feb
-10
Mar
-10
Ap
r-1
0
May
-10
Jun
-10
Jul-
10
Au
g-1
0
Sep
-10
Oct
-10
No
v-1
0
De
c-1
0
Jan
-11
Feb
-11
Mar
-11
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
Direct Navigation Invitations Paid Channel
To the impact of social media on our marketing budget
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23 CONFIDENTIAL 23
94%
82% 76% 76%
72% 73% 73% 68% 69%
64% 59% 58% 57%
50% 49% 50% 49% 47% 44% 44% 42% 40% 38% 39% 39% 38% 35% 32% 33% 34% 33% 30% 28% 24% 27% 25%
30% 26% 22%
26% 30%
26% 22%
26%
6%
18% 24% 24%
28% 27% 27% 32% 31%
36% 41% 42% 43%
50% 51% 50% 51% 53% 56% 56% 58% 60% 62% 61% 61% 62% 65% 68% 67% 66% 67% 70% 72% 76% 73% 75%
70% 74% 78%
74% 70%
74% 78%
74%
Mar
-09
Ap
r-0
9
May
-09
Jun
-09
Jul-
09
Au
g-0
9
Sep
-09
Oct
-09
No
v-0
9
Dec
-09
Jan
-10
Feb
-10
Mar
-10
Ap
r-1
0
May
-10
Jun
-10
Jul-
10
Au
g-1
0
Sep
-10
Oct
-10
No
v-1
0
Dec
-10
Jan
-11
Feb
-11
Mar
-11
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
Dec
-11
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
First time buyers Repeat buyers
REVENUE FROM CLASS OF BUYERS
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1-time buyers 3%
multi buyers 2%
LOA 0-3 42%
LOA 4+ 53%
What type of customers are unsubscribing from our emails?
24 CONFIDENTIAL
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Build Brand
Create Advocates
Satisfaction = Loyalty
Team
Fail & Innovate
Test & Measure
SUMMARY
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