Sole Society + Custora: 3.5% revenue lift in two weeks using conversion predictions

 

The visibility that we get from Custora in terms of what we should send to whom and when, helps us understand exactly which call to action is most effective for retaining different customer segments.
-Andrea Wasserman, CEO of Sole Society

Sole Society is a leading lifestyle brand of women’s shoes, handbags and accessories. Catering to smart, savvy consumers, Sole Society offers exclusive styles and curated content. In partnership with Nordstrom and Vince Camuto, Sole Society delivers quality product at an accessible price point.

 

The challenge: Converting e-mail subscribers to active buyers

As an expanding online retailer, Sole Society knew that its ever-growing database of email subscribers was one of its most valuable assets. After investing a considerable amount of resources bringing in those subscribers, the marketing team wanted to maximize their investment by increasing the subscriber-to-customer conversion rate.

The data-driven marketing team at Sole Society knew that there was no “average customer,” so smart segmentation was the key to delivering the right message, to the right person, at the right time.

The problem? The rapid expansion of the company meant that Sole Society’s marketing team wasn’t able to run all the necessary analysis and segmentation in-house. They knew that truly improving their conversion rate would rely on utilizing data science and predictive analytics to find meaningful and actionable customer insights.

 

The solution: Custora’s individual conversion rate prediction

Within two weeks of working with Custora, Sole Society was able to segment new email subscribers based on predictions of individual conversion rate and customer lifetime value.

Combining Custora’s predicted likelihood of conversion with other variables like customer persona and product purchase affinity, the marketing team was able to see which types of messages and discounts were best suited to each customer segment.

For instance, discount-oriented customers with a low-conversion likelihood might get an email with a discount, while fashion-conscious customers with medium conversion likelihood would receive an email highlighting that season’s trends without any special discounting.

Rather than classic, labor-intensive A/B testing, Custora’s platform allowed Sole Society to run numerous experiments at once and automate the most successful combinations.

 

The results: 3.5% revenue lift, 1.75% lift in member activation rate, 12x ROI

Using email messages tailored to meaningful customer segments, Sole Society’s conversion rate for new members improved by 75% over the control group. The improved campaigns drove a combined 3.5% revenue lift for Sole Society.

 

 

We’re a small team and don’t have a staff full of data scientists, Custora helps us be relevant in a different way that’s practical for the size of our company.
-Andrea Wasserman, CEO of Sole Society

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