jetlore founder, eldar sadikov, presents at etail west, 2016
TRANSCRIPT
THE SHIFT FROM TRANSACTIONAL COMMERCE TO RELATIONSHIP COMMERCE
Eldar Sadikov CEO of Jetlore
@elversatile [email protected]
eTail West 2016: Palm Springs Track E: The Shifting Fundamentals of eCommerce Tuesday, February 23 2016
E-commerce success is about repeat revenue / high LTV
Average number of orders for
top-performing companies is
2x higher than average
AOV for top performing
companies is 50% higher
than bottom performing ones
Customer lifetime value for
top performing businesses is
5x higher than average
3 7
Bottom 3 quartiles Top quartile
$0
$20
$40
$60
$80
$100
$60
$72$76
$94
$0
$1,000
$2,000
$3,000
$4,000
$508$460$769
$3,641
5x higher
CLV BY QUARTILEAOV BY QUARTILE
* Data provided by RJMetrics.
› SEO is the primary transaction driver
› Product recommendations in the context
of a specific session / product view
› Dominance of guest checkout (little focus on user identity)
› Focus on triggers in response to a user
session / action
Transactional Commerce
Relationship Commerce
› SEO is a user acquisition strategy, not the
transaction driver
› User identity / profile is key
› Nurture relationship via personalized
communication with the user:
› personalized periodic emails and lifecycle
marketing (welcome series, lifecycle emails)
› Engaging and personalized experience in
the upper funnel
› No more guest checkouts!
› Maximize the percentage of logged-in traffic
Traits of relationship commerce
› No more guest checkouts!
› Maximize the percentage of logged-in traffic
› Have users invest in their profiles
› Idea boards, favorites, reviews, ratings, ability to follow other users
› Loyalty / rewards programs
Traits of relationship commerce
› No more guest checkouts!
› Maximize the percentage of logged-in traffic
› Have users invest in their profiles by contributing data
› Engaging and personalized upper funnel experiences:
› Promotional and lifecycle emails
› Homepage experience
› Product listing pages
› Search experience
Traits of relationship commerce
The promotions are
personalized to each user
based on the user’s likelihood
to purchase from the associated
sub-catalog of items.
↻
User is presented with the most
relevant sub-catalogs and top
five products within each of the
top sub-catalogs.
↻
Other relevant sub-catalogs are
presented with each sub-
catalog represented with an
appealing relevant image. For
example, Women’s Shoes are
shown as heels rather than flats.
↻
↻
↻
Products within sub-catalogs
are re-ranked for each user
based on relevance: based on
user’s shopping preferences,
favorite brands, styles,
appropriate price range.
Customer lifetime value for
top performing businesses is
5x higher than average
$0
$1,000
$2,000
$3,000
$4,000
$508$460
$769
$3,641
5x higher
CLV BY QUARTILE
Transactional commerce is reactionary.
Relationship commerce creates an urge to
come back for more fresh and relevant
experiences.
RELATIONSHIP COMMERCE PERSONALIZATION
@elversat i le eldar@jet lore.com
Booth #120