Leightworks is an award-winning jewelry store that among other things is famous for its custom jewelries, crystals and sculptures that are sold throughout the world. David, who is the brainchild behind the store, was personally commissioned by Google founders, Sergey Brin and Larry Page, to construct a five-foot sculpture of the Google logo for their office!
Background & Problem
Background & Problem
While the store has a loyal set of customers, they have not utilized the full purchasing potential of their customer base. Their customer base has a wide variety when it comes to buying potential. But the customer acquisition strategy did not take that into account which led to inefficient return on investment. Moreover, among their returning customer base, the purchase frequency varied quite a bit which their outreach efforts were unable to take into consideration. This led to customer churn and apathy.
Solution
Solution
To improve the return on investment in customer acquisition as well as improve the lifetime value of their existing customers, Leightworks used CausalFunnel’s Anonymous Visitor Conversion Booster and Lifetime Value AI model. CausalFunnel platform combines the store’s anonymous visitor with existing customer data to improve the acquisition strategy. Not only that, the platform also improve the existing customer’s lifetime value by building custom lifetime value models for each significant cohort. The teams worked together to i) come up with tiered customer acquisition strategy to different customers cohorts, and ii) make the outreach efforts align with cohort buying behavior to improve the lifetime value.
Results
Results
Using CausalFunnel platform, Leightworks is able to increase their revenue by 27% year over year! See the “Sales by channel” screenshot below.
Moreover, for some products category we improved the number of orders by as much as 455%.
