Pricing hack for 3X Repeat Sales
Six years ago, the eCommerce market was extremely saturated (holds true even today!) and every brand out there was just copying international brands or each other.
\nThere was absolutely no novelty, no trade secrets, no head-starts, and nothing which gave anyone an edge.
\nIn such a world, the challenge was to get a competitive edge and not just retain but drive customer loyalty and make them transact again and again.
\nThe B2C game is all about repeat sales and LifeTime Value and this is the time when we decided to set up a Marketing Lab where we would conduct hundreds of experiments.
\nThis is the story of just one successful experiment which debunked all mindless Pricing "templates". Learn about the behind-the-scenes story in this episode, and if you have questions, would be happy to answer in comments :) #GrowthHack #MarketingTales
\nResults
\nAverage daily numbers Pre-pricing change
\nActive Email base for Daily deals - 3,500,000
\nOpen Rate - 9%
\nClick Rate - 8%
\nPurchase Rate - 1%
\nPurchase numbers - 756
\nAverage daily number Post-Pricing change
\nActive Email base for Daily deals - 3,500,000
\nOpen Rate - 9%
\nClick Rate - 8%
\nPurchase Rate - 3%
\nPurchase numbers - 2250