How Icon by Design leveraged remarketing technology
- 19 September, 2017 07:09
Furniture brands trying to get noticed by online-savvy shoppers in today’s crowded retail marketplace need a robust marketing strategy. And that’s exactly what Icon by Design decided to build with its latest remarketing model.
The family-owned, Sydney based supplier of contemporary furniture sources its product line directly from manufacturers, eliminating wholesale suppliers to allow the business to keep their operation agile and prices competitive. But despite its unique brand offering, the company needed to find a unique way to stand out from the crowd. Building brand awareness in a crowded marketplace was key.
“Purchasing furniture usually takes time – you research it, shop around and sometimes it can take months,” Icon by Design’s co-founder, David Light, told CMO. “And the world of selling furniture is a highly competitive one. So for us, it is critical to be front of mind while the customer is going through that journey so they remember us.
“We had spent quite a reasonable amount of money driving people to the website, but it was time to remarket.”
Building a solution
To do this, the company brought on Criteo’s remarketing platform for maintaining ongoing content and emails for the customer as they go through the journey.
Prior to the investment, Icon by Design was using a number of internal tools. But when the software company approached the local furniture company and offered a broad range of services across a number of different platforms, Light said it made a lot of sense.
“Criteo’s pitch to us that Icon was not just buying a platform from them, but a service,” he said. “So it was very much a service-based offering as opposed to just a platform-based offering.
“It’s also a very personalised, performance-based model, so you set targets and can customise campaigns to meet those objectives. And with the ROI model you are also in control of spend and conversions.”
Since partnering with Criteo in 2016, Icon has grown its average monthly revenue by 29 per cent, through a targeted, personalised commerce marketing strategy. By using Criteo’s unique solution, Icon by Design is also now able to connect with potential shoppers with greater accuracy and persistence throughout the path to purchase.
As a result, shoppers are returning more frequently and buying more when on the site. Figures show the average order value has increased by a further 27 per cent.
“With Criteo, we’ve implemented a strategy that maps out and follows potential buyers purchasing patterns,” Light said. “This means we can engage with them early on in their research, in addition to when purchases are being made. The strategy ensures that our products stay front of mind from discovery to decision.”
Light stressed top of the line activity has also been impacted positively, while the brand continues to enjoy a very high Net Promoter Score (NPS).
“We’ve been balancing the continuous awareness and exposure of our brand with sales conversion, and we’re quite comfortable that people are finding us online and choosing to visit our store,” he said. “Our NPS is between 70 and 80 and the average is 11.
“We set an objective to be world class, and we are consistently encouraging our customers to give us feedback so we can consistently improve. We provide timeless design, clean, minimalist elegance with a Scandinavian luxury feel – and this style ethos really appeals to people.”
Moving forward, Light said Icon by Design sees its interaction with customers as a conversation, and in the brand’s marketing model, the focus is enticing people to continue to come to its website and physical store.”
“We’ve also now moved forward and created a new head of marketing and online role in the company to make sure we have continue to have consistency with our marketing, social, emails campaigns, as well as premium website and instore customer experiences,” he added.
Questions to ask yourself prior implementing a remarketing strategy:
- What are you trying to achieve?
- What are your targets when it comes to ROI?
- How will you be driving those metrics?
- Is your data clean?
- Can you correlate your online experience consistently with your physical store?