Expanding online presence has become essential for retailers, with consumers frequently purchasing products and services online β a trend that is expected to continue to grow. According to Forrester Research, U.S. e-retail sales are expected to grow from $263 billion in 2013 to $414 billion in 2018, a compound annual growth rate of 9.5%.
Not only are brick-and-mortar stores expanding their product offerings within their eCommerce sites, but online-only retailers are popping up, many of which are offering personalized shopping experiences via the web.
Stitch Fix, an online fashion retailer, has done just that. They offer expert styling and fashion services and utilize proprietary technology and unique products to deliver a personalized shopping experience. Consumers can fill out the Stitch Fix Style Profile and their personal stylists handpick a unique βFixβ of five clothing items, all of which consumers can purchase if they like them.
Stitch Fix offers a truly personalized and unique experience, and because of this, they face some challenges that an average retailer may not encounter. Firstly, Stitch Fixβs services are solely available online. This makes it crucial that their site be accurately and effectively promoted, ensuring visibility and growing awareness for the fairly new brand. Secondly, because they only offer services to women, it is imperative that they use precise and accurate targeting in order to reach their ideal customer base.
To overcome these challenges and drive online signups and sales, Stitch Fix teamed up with Ovative/Group, who, armed with Kenshoo Social, was able to successfully utilize Facebook advertising to generate leads for Stitch Fix.
Kenshoo Social was an ideal fit for Stitch Fixβs Facebook advertising efforts because it offered advanced targeting capabilities, creative testing functionality, and extensive analytics to effectively manage and optimize campaigns.
247% increase in leads
13% decrease in cost-per-lead
64% increase in click-through rate
In fact, the Facebook ads were so successful that Stitch Fix had to recalculate their ideal ad spend in order to maintain feasible fulfillment numbers and meet the high demand.
By partnering with Ovative/Group and Kenshoo Social, Stitch Fix was able to successfully extend their digital marketing efforts to a new channel, gain qualified leads, and further optimize their efforts to fit with their organization.