Increased Conversion Rates Using Better Data For Retargeting

Optimize and automate your marketing retargeting with augmented data discovery
Direct-to-consumer (DTC) eCommerce is a major part of online retail today, and it is driven heavily by how well companies can engage with their customers for repeat business. DTC retailers are constantly looking for better messaging, different ways to attract consumers, and more importantly, techniques that will increase the lifetime value of each shopper. With only historic data, and focusing on manual methods, many of the most promising leads can quickly go cold, or even be ignored.
The problem

Our customer has built a large online presence providing DTC products in several verticals and has become one of the largest retailers on the market. However, they have handled their predictive retargeting efforts manually, leading to missed opportunities and inefficient budgeting. They looking to improve their total net new users by optimizing their spending both in terms of high-value users and the channels they’re on.

The solution

Using Explorium, the company was able to build a machine learning model that combined their internal historic data with external sources to identify those customers most likely to become repeat shoppers and prioritize marketing spend toward these high-value targets. With the Explorium Enrichment Catalog, our customer was able to add context on each customer, including: 

  • Location-based data such as zip code and IP address to understand the highest-value targets 
  • Geospatial financial indicators that show a propensity to make more than one purchase
  • Time-series data that indicates repeat visitors and the likelihood to purchase based on clicks.
The results:

Improved conversion rates with reduced costs

After building a new predictive retargeting model connected to the Explorium Enrichment Catalog, the company saw a rapid improvement in their efforts. After automating this part of their marketing efforts, they saw a 33% increase in their conversion rates for repeat sales. This new model also led to smarter budgeting and prioritizing of marketing dollars toward those users who are more likely to become repeat shoppers, and who have a higher lifetime value. The company was able to focus its marketing efforts better and even provide better dynamic customization on its site.

Enrich your retargeting models, optimize marketing spend, and increase conversions.

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