Table of Content:
- Global Data
- About Amounee
- Challenges Faced by Amounee.com
- Shoppr as a Solution
- Key Takeaways
Every marketing dollar that you put into paid ads, chances are you are losing the same amount of marketing dollars.
According to Statistica, e-commerce was responsible for around $2.3 trillion in sales in 2017 and expected to hit $4.5 trillion by 2021.
With the advancement and growing acceptance of e-commerce, it’s one of the fastest-growing segments in the world.
However, yet there are thousands of new e-commerce websites that fail every year.
Lack of data analysis.
The native software’s while a power hub to sell, aren’t strong enough when it comes to providing powerful analytics.
And if you don’t have the comprehensive data of your leads & customers, then you are leaving on thousands of dollars on the table.
India is a 1.3 billion people of a complete power hub. Over 550 million in India today have access to the Internet.
When you are selling online, such statistics matter because the number of people has access to the internet, the better your potential reach and the Internet is a number’s game.
Indian handicraft and art market is $4.5 billion and growing at 4-5% on a YOY basis while the global market is as big as $583.4 billion.
Every state in India has its own skills, art, and century-old knowledge.
Amounee.com wanted to grab this opportunity to tap into this global market by capturing the audience earlier than anyone else.
Amounee.com platform is for art lovers to buy 100% homemade products from weavers across India.
Challenges faced by Amounee:
From the beginning, Amounee has been growing steadily but from June to September 2019, the growth rate went down by 46.6% and the revenues numbers started to remain the same for several months.
Moreover, their cost per purchase went up by 245% and overall campaign performance also became stagnant.
Before June 2019:
September 2019 :
Here are the 5 key challenges faced by Amouncee on the native WooCommerce:
- Inadequate reporting
- No native analytics
- Hours and hours of manual hard work to keep track of basic metrics such as Growth Rate, Retention rate, New Vs Repeat Customer Ratio
- Manual tracking for new products being introduced
- Data spread across unreliable plugins
They were looking for a solution that could help them understand the root cause of these issues and provide a solution to overcome these problems as the native Shopify store failed to do so.
Shoppr Came to rescue Amounee used and increased their revenue by 2x:
When Amounee started discussing their problem with the Shoppr team, Shoppr knew that the solution can only be found with deep data analysis.
Shoppr team, along with its solution, dived deep into the analytics to find out some of the key problem areas which they discovered as below:
- Inability to keep track of important metrics of the business
- Insufficient use of historical customer data
- Marketing campaigns targeting wider audiences for the regular and premium segment of products
- Inadequate email marketing
- No goal tracking
After carefully analyzing the above root cause, Shoppr started monitoring the changes for the next three months and without spending an extra dime on marketing, Shoppr was able to successfully able to increase the revenue of Amounee by 2x and was able to reduce the cost per acquisition of a new customer by whopping 700%
After applying learning from Shoppr (January 2020):
Here is what the Founder & CEO, Megha Das has to say about Shoppr,
“Perfect for my store! I wish I had integrated my store at the beginning stage. After running my store for a year successfully, we were going through a rough patch with stagnant growth and increasing marketing spend. A lot of manual work just to know from which location my store is getting more orders and sales. Shoppr made everything easy to understand which reduced my Ad spend drastically.”Megha Das, Founder & CEO, Amounee.com
Here are the 5 Key Learning & Takeaways from this incident that WooCommerce failed to provide in its native app:
- Always stay on top of key metrics for your business. Some of the metrics you need to regularly track are your Growth Rate, Ratio of your new and repeat customers, Churn and Retention rate.
- Use your customer segments for your marketing campaigns. Historical customer data is a gold mine for any business.
- There’s no one size fits all. Use different types of campaigns for different customer segments. (Shoppr also provides campaign suggestion ideas)
- Define goals a.k.a. Success metrics for your business and track them regularly. This gives you a sense of progress being made. It also tells you whether your marketing efforts are turning results or needs a revision.
- Save time and efforts spent to go through data points spread across dashboards.