Jirafe E-Commerce Strategy Session: Learn How to Love Your Data and Grow Your Revenue in 30 Days

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Learn to Love Your Data & Grow Your E-commerce Revenue in 30 Days

Transcript of Jirafe E-Commerce Strategy Session: Learn How to Love Your Data and Grow Your Revenue in 30 Days

Page 1: Jirafe E-Commerce Strategy Session: Learn How to Love Your Data and Grow Your Revenue in 30 Days

Learn to Love Your Data & Grow Your E-commerce

Revenue in 30 Days

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Amit Shah

Chief Executive Officer

Jirafe

[email protected]

Meet Our Presenter: Amit Shah

Amit Shah is CEO of Jirafe, Inc., and has more

than 15 years of experience in the e-

commerce space.

As a venture capitalist early in his career, he

invested in petstore.com, and then went on to

serve as both an executive and founder at several

successful e-commerce technology companies.

He founded Jirafe with the belief that e-

commerce providers needed insight into their

businesses in a way that drives action. Prior

to Jirafe he helped start OpenX, and ran sales and

business development worldwide for Magento.

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How Do You Feel About Your Data?

• How easily can you find out if customers from Pinterest or Adwords spend the most

over the lifetime of their engagement with your brand?

• Can you find out what products create that need it, want it, have to buy it mentality

with your customers without wasting time creating reports or running queries?

OR

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Is Your Customer Targeting A Guessing Game?

Can you find out in less than 60 seconds what your customers are up to?

Which ones should join your loyalty program, and which ones should be part of a win back campaign?

??

? ??

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of merchants say it's difficult to make decisions that impact

their revenue based on their current e-commerce data (Jirafe Poll)

of your company’s revenue will come from 20% of your current

customers (Gartner Group).

existing customers are 14x more likely to buy as the result of a

marketing campaign than new customers. (Referral Candy)

of Amazon’s sales are repeat purchases - they optimize for

returning visitors, but the industry average is 7 percent. (ClickZ)

Competing for Market Share is Hard . . . Data Can Make It Easier If You Have the Right Tools

>50%

80%

14x

66%

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● They use existing customer purchase behavior to nurture new

customers.

How Are Successful Brands Using Their Data to Increase On Site Conversions?

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Example: Blue Nile Shares Trending Products to Inspire New Customers

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● They are make data-driven merchandising decisions to drive traffic to

various products and categories.

How do successful merchants turn Browsers Into Buyers?

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Example: Diamond Candles places best sellers on their homepage

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How Are successful brands growing their customer relationships?

● They look at which products their customers love, and deepen their

relationship by helping them uncover new items over time.

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Example: Nasty Gal makes product suggestions based on items purchased together

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Win More Customers, and Keep The Ones You Have

Happy

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● Knowing which marketing channels bring the highest value customers can

help you find more great customers like the ones you already have.

Win New Customers

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Example: Anthropologie Uses Facebook Retargeting To Encourage First Time Buyers To Convert

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Keep Your Big Spenders Motivated

● Pinpoint your best full-price customers and send them e-mails with

exclusive offers.

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Example: Sephora keeps their best customers coming back with loyalty programs

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● When was the last time some of your valuable customers made a

purchase?

Know what your customers are up to

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Example: Crocs uses e-mail campaigns to win back inactive customers

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● Give them exclusive access to new products, or include them in friends

and family promotions.

Stay Top-of-Mind With Existing Customers

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Example: Saks Fifth Avenue Sends Special Offer Emails to Existing Customers

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Master Your Merchandising: Turn Your Store Into An

Irresistible Shopping Destination

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Make Room For What Sells

● The easiest way to free up space on your site for products that aren’t selling,

or are out of season, is to discount them.

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Example: Carter’s Runs Flash Sales To Make Room For New Products On Their Site

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Look For Hidden Gems

● Are there promising products in your current product catalog that can

help you boost revenue?

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Example: Old Navy Leads Email Campaigns To Existing Customers With Emerging Products

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● Push cold products by running product focused promotions in order to

reignite interest.

How Do You Manage Products That Once Sold, But Aren’t Selling Now?

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Example: Gap Has Spotlight Sales To Encourage Their Customers To Purchase Specific Products

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● Drive up the average order value for new customers by leading with products that

are associated with highest first order. These products may be purchased in

bundles, or frequently purchased alongside complimentary items.

How Can You Increase The First Time Order Value Of A New Customer?

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Example: Ann Taylor Promotes Products That Can Easily Be Purchased With Multiple Items

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● Improve your product conversion rates by A/B testing price, changing product

descriptions, or optimizing images on your site.

You Have Products That Get A Lot of Visits, But Don’t Convert Well

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Example: Reshooting The Way A Product Displays on Your Site Could Increase Conversions

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About Jirafe

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More than 80,000 merchants use Jirafe data daily

to grow their online revenue.

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Jirafe Turns Your E-commerce Data Into Answers On Demand

Jirafe delivers data to everyone on

your team in just a few mouse clicks so

your business can:

• Reach more customers & keep them loyal

• Sell more stuff your customers want

• Promote the right products to the right

customers

• Personalize your marketing

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Just A Few Of Our Customers . . .

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Visit jirafe.com to learn more,

or start a trial!

Questions?