When Fashion and Crowdsourcing Collide: How Betabrand Increased Repeat Purchases by 42%
May 10, 2016
San Francisco-based retailer Betabrand is at the forefront of fashion’s movement into crowdsourcing. The company is more of an online clothing community than an online clothing retailer. They’re crowdsourcing product design and then crowdfunding products to life.
More than 60% of US consumers are interested in providing input to design and build new products or improve existing products, according to Forrester Research. The benefits of this approach are wide-reaching. Betabrand’s team can easily understand demand for products well before they are launched. Customers feel closer to the brand, and exhibit more loyalty once they’ve helped build a product or backed production. It also helps Betabrand solve a common retail challenge: stale inventory.
In addition to being on the cutting edge of customer experience, Betabrand is one of the retailers leading the way when it comes to prioritizing and honing retention.
Giving the People What they Want — Literally
Betabrand’s community has grown 1000%+ in the last year alone, but with new products being launched every day, batch-and-blast marketing was no longer an option for keeping customers engaged. In order to better understand customer behavior, leverage data more effectively, introduce complex customer lifecycle programs, and personalize messaging to their growing customer base, Betabrand came to Sailthru.
Aaron Magness, Betabrand’s CMO, commented that the company needed “a technology that is quickly actionable and something that wasn’t going to require 47 engineers to manage in order to be successful. Sailthru stepped up pretty quickly as being the right tool. Sailthru is really an extension of our team; they’re committed to driving the success of our business and it’s a benefit of working with Sailthru that others simply don’t provide.”
With a renewed sense of focus, Betabrand worked with us to:
- Centralize customer data to build comprehensive profiles and insights
- Increase engagement, repeat visits and purchases
- Increase customer lifetime and decrease customer churn
Through a combination of smarter retention solutions and laser-focused goals, Betabrand has achieved a 42% increase in repeat purchase rates in a three-month time horizon. And this is how smart digital retailers are turning low hanging fruit into profitable opportunity.
Learn more about how Betabrand achieved these results in the full case study!
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