Office Depot sees online conversion rates improve by 3%, boosting revenue by a projected £2.5m a ye
Office Depot says its online conversion rates have improved by 3% following the introduction of personalisation technology.
The office supplies retailer predicts a £2.5m rise in annual revenues as a result of the rise. The boost to conversion rates, which came after it implemented a personalisation strategy using Monetate's platform, was monitored over the first four months that the technology was in place.
During that four months, the company launched 44 campaigns, which gave a 3% lift to conversion rates. It created a tablet-specific navigation that produced a 22% increase in revenue per session. The launch of a free next-day delivery countdown timer generated more than £1.3m in projected annual revenue.
Previously Office Depot
relied on a slow and difficult to use legacy ecommerce platform, in which every change had to go through the IT department.
Jonathan Newman, VP ecommerce and marketing operations at Office Depot, said: “We are absolutely delighted to be recognised for our use of personalisation to improve the customer experience whilst benefitting the bottom line.
"We are passionate about our customers and we’ve always been looking at how we can get a little bit closer to understanding their needs. Monetate’s technology allows us to create, test, and deploy personalised experiences on the web. With Monetate we can change any aspect of our website and target those changes to specific audience segments. For every dollar we spend with Monetate, I’m confident that we’ll see a return of 15x return on investment in 2015 and 2016.”
Office Depot trades in Europe through the Office Depot and Viking brands. It now has a presence in more than 57 countries worldwide.
Mike Harris, VP EMEA at Monetate , said: “Office Depot has used Monetate technology to create a truly personalised customer experience and is reaping the rewards. With a mixture of targeting campaigns and tailoring the experience for different devices, it has contributed to increasing revenue while also improving the customer journey. The Office Depot team has delivered impressive results and have received this award by demonstrating the significant impact that personalisation has had on their business."