Company spotlight: BounceX
What is the BounceX USP?
Founded in 2012, BounceX’s PeopleBased Marketing (PBM) Cloud is the first new channel with scale in 10 years. Our technology powers thousands of digital properties, spanning across a variety of industries. For the first time in years, marketers have a meaningful revenue channel outside of Google, Facebook and email. With the combined use of our identification engine and our PBM channels, ecommerce marketers can now activate users in the middle of the funnel and convert unidentified high-intent prospects into buyers generating an incremental 5%-10% of digital revenue. We have offices in NYC, San Francisco, and London, and were recently named the fastest-growing SaaS company in America by Inc. Magazine & Deloitte. We are trusted by global enterprises such as Uniqlo, Samsonite and Forever 21.
What are you doing that’s so different from other players in ecommerce/multichannel?
We are an expensive product but we enter every partnership with a derisked agreement. We’re the only SaaS marketing technology company that commits to such an ambitious performance level floor. The notable part of this is that we almost always under-promise and over-deliver. In the truest terms, we’re able to put our money where our mouth is.
So how do you go about generating this scale?
We scale by sending the most relevant emails to the highest amount of relevant people. Using our identification engine and People-Based Marketing channels, we can send messages to people who are highly engaged, regardless of whether or not they are logged into your website. This opens a new door to a previously untapped cohort of prospects. These are people who have looked at several reviews, looked at 6-10 products, added a size and colour but didn’t add to cart – all of these actions, if not logged in, go unnoticed.
BounceX’s identification engine hyper grows our customers’ email lists by identifying this previously untapped group. In doing so, we make triggered emails a prospect acquisition channel and not just a retention channel.
How do you so successfully convince shoppers to give up their emails?
That’s part of our secret sauce. Our strategies are largely rooted in behavioural psychology paired with the behavioural data we see across all of our ecommerce clients. We see more than 3bn impressions a month across all our clients, this gives us the advantage of truly knowing the best time to get people to self-identify themselves in a way that doesn’t interrupt their shopping flow. As a result, we are able to exponentially increase not only the number of emails captured but also the number of high-intent individuals.
How does this compare to what your competitors are doing?
We don’t particularly compete with another software vendor, even though we are one. Marketers and retailers look at us as a new revenue channel, measuring our performance in their own analytics platform against other paid channels. Our customers invest in us because we’re a lever they can pull with the certainty that the more money they spend, the more they will get out.
Why are you happy to be judged on performance, not cost?
Because we believe that performance is the best way that we can align ourselves with our clients’ success. We take on the onus of succeeding, as opposed to typical software technology companies which push that responsibility onto their clients. We care first and foremost about helping our clients grow their business, so why not align with that?
What do you see as challenges in the coming year and what are you doing to meet those challenges?
There are two main things that we see in the coming year. The first is the trend of convenience, where consumers expect more and more to shop easier. When they add an item to cart on their phone, they expect that item to still be populated when they return to the site on their own computer. Consumers expect that the homepage they land on reflects their own personal preference as well as the behaviours from their last visit. This trend of convenience can be answered primarily through identification – the ability to identify a customer across all sessions and all devices. Over the past year, we’ve invested a significant amount of resources into solving this problem. We’ve made good strides but we still have a long way to go. The second issue we foresee is diminishing returns in traditional marketing formats – which isn’t new. We’ve already started seeing this with the death of banner ads, batch and blast emails and so on. We search constantly for the untapped, high-impact real-estate where we can create a dialogue for our customers. Web push for example is an avenue we are testing and initial results are promising.
How do you see the ecommerce/multichannel industry developing in the longer-term future?
The future is really all about the consumer and tailoring everything around what they want. Too often, brands and marketing departments have taken the easy way out through mass advertising, banner ads, mass emails and so on. But the market is starting to be put in guardrails to protect the consumer from such invasive efforts. We’re already seeing this happen through GDPR, new Facebook algorithms and more. This is why BounceX believes in People-Based Marketing, because marketing should start and end with the consumer at its centre.
CUSTOMER CASE STUDY: Samsonite
Samsonite is the world’s leading luggage brand, providing ranges of revolutionary and stylish bags and cases that are backed by nearly a century of heritage. When Jay Nigrelli joined Samsonite as VP of ecommerce, his ambitious goals were to significantly grow the company’s database, to improve triggered email revenue and to increase onsite conversions.
To help him achieve these goals, he brought in BounceX, which he’d partnered with in his previous role. Within the first month, BounceX was contributing to 9.8% of Samsonite’s total digital revenue – nine times the cost of investing in BounceX. This allowed them to unlock their highest performing non-direct revenue channel.
Over time, the partnership has more than tripled Samsonite’s email capture rate, which increased from 11,000 to 39,000 emails within a month of BounceX going live. With less than two hours a month required for upkeep, BounceX’s managed service requires minimal resources from the Samsonite side. That’s an impressive return on investment and Nigrelli is clearly pleased with the results, saying: “BounceX allows us to leverage their effective email collection and identification technology to grow our email database and decrease exit rates, all with minimal resource and time invested on our end.”
BOUNCEX IN BRIEF
Company founded: 2012
Global reach: UK and Europe, with offices in San Francisco and headquartered in NYC
Turnover: Privately owned
Customers: Over 300 customers worldwide across major ecommerce/retail brands, publishers and travel verticals, including Hugo Boss, Samsonite, Lufthansa and Avis
Number of Employees: 300
Telephone: + 44 (0) 20 7297 2551www.bounceexchange.co.uk