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Case: Marketplace #1
Introducing you to the real-life case and willing to make this type of rubric for our blog a regular one.
Caution!: these are all real data and numbers, even though the naming has to be concealed due to NDA terms & conditions.
The marketplace did not have enough sales (which is a pretty common issue), so they started to attract paid traffic. As a result, cost-per-engagement was high, while the user retention rate was low.
Besides, the cost of each subsequent user was not decreasing.
To increase the Retention Rate
Decrease the cost of each subsequent user
Our team has proposed to deploy the cashback service and developed 3 browser extensions: for safari, firefox & chrome.
Firstly, cashback is an additional source of income for a business + strong motivation for the user to make a purchase by accessing this service. Also, cashback provides the opportunity to launch browser extensions, which will be constantly right before your eyes. Do not forget that browser extension is a full-fledged and very powerful sales tool.
Secondly, one of the key functions of web extension is that it helps to return the user back to the service regardless of how he/she gets to the store's website in the first place (e.g. social media, Google, or the user ended up on the website purposely.) As soon as the user visits the site of the partner store, the animation of the extension icon runs, the icon is blinking thus attracting full attention and the modal window pops up blinks, attracting attention, and a modal window pops up with a suggestion to activate cashback, which means there is no way the user will miss it.
There are 5 fundamental goals which the web extension helps to achieve
A user remembers the opportunity to earn some money back (and to actually use the service)
A user can activate cashback in one click (literally!)
A user enjoying all the benefits
After a great experience, he/she will be inclined to make another purchase with a bigger check, (than without cashback)
After some time, a user gets used to the whole process and keeps checking the extension to find any special deals & offers at the favorite store
In a nutshell
Retention Rate (for a year)
Operating profit (for a year)
The number of secondary purchases (per user, per year)
no extra costs
Cost Per Order (CPO) in a year
Impressive, isn't it? And this is just one case out of a hundred successfully implemented. Do not hesitate to contact us for further information. Let's create awesome things together.
Successful cases, development life hacks and guaranteed ways to increase user retention and profit growth.