Advertiser: GuoLine eMarketing Sdn Bhd Brand: GEMFIVE Creative Agency: - Credits: -
Competitors in the ecommerce industry typically adopted an aggressive push strategy by offering big incentives or discounts to shoppers. As a newcomer in this category, lesser scale meant that our client struggled to match the level of incentives that the competitors were giving out. Our task was to entice consumers to shop with GEMFIVE although prices were less competitive. An illogical challenge but we took it up anyway!
Insight, Strategy and the Idea
Many of the competitors shared one thing in common, which worked perfectly to our advantage. They were all putting their best offers or prices up front, creating a perception among online shoppers that no further value could be derived. We, on the other hand, staged our incentives by offering different values at different points of the consumer journey. Not only was this strategy effective in masking GEMFIVE’s lesser competitive offers, the gradual increase in incentives given out convinced consumers that they were receiving more value from the purchase. Furthermore, where there were consumers who converted during earlier stages with lesser incentives, this contributed to higher overall ROI.
A simple but effective retargeting and copy sequencing strategy was executed. For each time that the consumer visited our site and left without purchasing, the level of incentive grew. 1. Consumers visited site • Initial offer shown 2. Left site without exploring further • Recommendation of other similar but better offers 3. Revisited site and spent more time but did not purchase • Additional discount given for app purchases 4. Added to cart but did not proceed to purchase • Further incentives provided such as extended warranty 5. Made purchase • Conducted cross-selling and repeated cycle.
Results and Effectiveness
25% rise in average monthly revenue. 47% higher conversion rate. 95% increase in ROI! Busted the previous daily sales record by 175%. Finally, an impressive 569% increase in monthly new customer acquisitions.