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.
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:
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.