ONLINE EXCLUSIVE: How Scentiments.com Increased Clickthrough Rates With Predictive Retargeting
Problem: Scentiments.com, a second-generation, family-owned multichannel retail business, wanted to extend the success it was seeing from its website recommendations and email alert program to additional online advertising efforts.
Solution: After trying several traditional retargeting services and not seeing meaningful results, Scentiments.com turned to its online product recommendation engine vendor's new predictive remarketing solution. The tool predicts what shoppers want to buy, then dynamically presents multiple options to them via display ads.
Results: Clickthrough rates doubled compared to Scentiments' previous remarketing service, posting a 623 percent return on ad spend.
Started as a single brick-and-mortar perfume store, Scentiments.com now operates three retail stores in southern Florida and an online store, offering a large collection of brand-name fragrances. Scentiments.com offers 8,700 SKUs and has more than 700,000 names on its email distribution list.
Scentiments.com began working with MyBuys, a provider of personalized product recommendations for online retailers, in the middle of 2008. MyBuys generates website recommendations and email alerts that bring consumers to Scentiments.com, where they find highly relevant, highly motivating recommendations for fragrances that fit their personal preferences.
The combination has delivered great results: Scentiments.com has enjoyed a 16 percent email conversion rate since working with MyBuys, its overall site revenue is up 11 percent and sales of its most popular item are up 56 percent.
Last year, Scentiments.com decided it wanted to extend this success to its online advertising efforts. After trying several traditional retargeting services and not seeing meaningful results, the company turned to MyBuys and its new Predictive Remarketing service. The solution takes a proactive approach by leveraging insights gathered from four years in the personalization of e-commerce.
Consumer preferences captured on 200 million anonymous profiles combined with a deep understanding of retailers’ catalog and merchandising events allows MyBuys to predict what shoppers want to buy, then dynamically present multiple options to consumers through display ads.
"MyBuys Predictive Remarketing delivered results immediately," said Howard Wyner, president of Scentiments.com, in a MyBuys press release. "The service was turned on and orders began coming through."
Scentiments.com's clickthrough rates doubled compared to what it was seeing with its previous remarketing service. The Predictive Remarketing service generated a 623 percent return on ad spend for Scentiments.com.
"MyBuys is taking advertising to a new level," continued Wyner. "We consistently see outstanding ROI from MyBuys on our website and through email, and now, using its comprehensive understanding of our customers to predict what they're going to buy, MyBuys is turning our ad spend into increased sales."