01-12-2016 Project Updates
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This document summarizes marketing projects and key performance metrics for Daily Deal, Fanplayr, Short Expiration, and New Year Store promotions from January 2016. For Daily Deal, bounce rates decreased as more deals were featured per day, and sessions increased leading up to Black Friday. Conversion rates were consistently high. House product deals had much lower sales compared to other deals. Fanplayr had closely matched revenue and transactions, less affected by seasonal dips than other upsell strategies. Improvements included invoice changes and plans for new features. Short Expiration saw added automation and improved forecasts and reporting. The goal was more intelligent formulae to manage varying expiration dates. For New Year Store, certain
01-12-2016 Project Updates
- 2. Daily Deal: Retention Extreme bounce increase correlates to heavy featuring of expiring SKUs Bounce decrease correlates to start of 3 deals per day Sessions increase (equally new & old visitors) leads up to Black Friday peak
- 3. Daily Deal: Conversions Seasonal low correlates to overall site traffic & conversion lows around Christmas Consistently high conversion rates lead to 1% growth in 12-week average 1% growth over previous period Similar to previous period Similar to previous period Similar to previous period
- 4. Daily Deal: House Products Comparative performance: 0.06 sales of other deals If deals sell 100/day, a day featuring a house product will sell 6. On average, lower house product pricing does not increase sales. Possible causes: ● Lack of brand awareness ● Perception of low value ● Poor previous experience Product lines featured: 1. BONIES 2. Joint Treats 3. Chickles 4. Duckles 5. Ora-Clens 6. Otis & Claude 7. Resvive 8. ChloraSeb 9. Shed-Pro 10. TranQuil-Tabs 11. Urinaise 12. PHS First Aid Kit
- 5. Fanplayr: Performance Closely matched revenue & transactions mean consistent AOV Less affected by seasonal lows around Christmas than other upsell strategies
- 6. Fanplayr: New Stuff Improvements: ● Excluding affiliate-driven conversion from monthly invoices New developments: ● Modals ● Content insertion ● Customized experiences Plans coming up: ● Free shipping to California (may be product-specific, e.g. food) ● Valentine’s Day offer (if no conflict with Newsletter)
- 7. Short Expiration: Management Improvements
- 8. Short Expiration: Management Improvements Added: ● 50% of formulas now auto-populate, saving time & reducing error ● Sales forecasts based on demand ● Loss forecasts based on demand ● Adaptive forecasts based on changes in demand after expiration promotion Next step: ● Create action recommendation to address SKUs with demand loss Wish: ● Create “intelligent” formula to correctly manage sales of SKUs with multiple expiration dates ● Create new discount levels based on customer behavior data from Daily Deal & stores ● Differentiate discounts by product type to account for value perceptions
- 9. Short Expiration: Reporting Improvements
- 10. New Year Store: Holiday-only Items Considerations: ● All SKUs marked down to 20-30% margin Observations: ● Holiday loofas & hedgehogs popular despite seasonal design ● Holiday plushes & stockings unpopular ● Holiday whimzees & candycane rawhides very popular Recommendations: 1. Continue selling holiday treat SKUs at regular pricing
- 11. New Year Store: Overstock & Normal Items Considerations: ● Heavy markdown on overstock only Observations: ● SKUs with demand increase match SKUs with decrease or no change Recommendations: 1. Lower sale price for SKUs with large performance increase 2. Test SKUs with decreased sales as features with no promotion 3. Investigate trends (e.g. type, size, color brand) for each grouping
- 12. New Year Store: Short Expiration Items Considerations: ● No extra markdown applied ● Short expiration already has its own feature page Observations: ● Demand increase across the board ● Store differs from short exp page layout Recommendations: 1. Test different page layout for short exp 2. Decrease markdown on popular SKUs already projected to sell out
- 13. Review Daily Deal ● Expansion correlates to decreased bounce rates ● Growth continues steadily Fanplayr ● Consistent performance ● Opportunities to try new things Short expiration ● Improving management & reporting ● Laying foundation for more intelligent management New Year Store ● Customer behavior data gives insight into how to improve performance ● Sales data will apply to improve sales during future promotions