How Chakra perfected the "Propensity to Buy" model and experienced a rise in the ROI by 30%
E-commerce experiences very regular website traffic; while every website visitor is a potential customer, not everyone ends up purchasing something. However, all these visitors have some distinct behaviors that separate the ones that buy something and the ones that don't. No e-commerce should let this vast pool of potential customers go unnoticed, especially a company like Chakra with such length of market influence.
Chakra wanted to prioritize their add to cart conversion and improve their targeting for potential customers. In order to do so, they needed to model and segment the website visitors' behaviors. While the conventional methods can take weeks or even months to construct any meaningful insights, Using Enhencer Chakra was able to accurately predict visitors' propensity to buy and segment their behavior for potential customers targeting.
As the first step, Chakra integrated Enhencer's Custom-Designed API to collect all the website traffic for further analysis automatically. Secondly, using Enhencer's AI Algorithms, Chakra accurately predicted the visitors' likelihood to purchase alongside the insightful segmentation of these visitors' behavior.
Enhencer's accurate predictions helped Chakra to engage and target the right visitors and secure that possible purchase. As a consequence, they have experienced a rise in the add-to-cart conversion rate extensively. The visitors' behavior segmentation has provided Chakra with a massive potential customer pool to target for their marketing campaigns. In return, this has improved Chakra's marketing campaign's conversion rate considerably.
Increased marketing campaign ROI by 30%:
The visitors' behavior segmentation has helped Chakra to understand, distinguish the visitors that end up purchasing from the ones that don't and organize impactful personalized marketing campaigns. As a result, they have increased their campaign conversion ROI by 30%.
Increased target audience by 35% and decrease marketing cost by 2 times:
Using Enhencer Chakra predicted the visitors' likelihood to purchase very accurately. In doing so, they could target similar visitors for marketing campaigns by more than 35% and reduce the marketing cost by more than 2 times.
25% better ROI on new users:
For Chakra, all these meant more sales and more revenue, even more so in the longer run. Chakra was able to increase their revenue and ROI on the new users by 25%.