Here at Silverbean we know that once our clients have splashed out on attracting new customers, we want them to spend. But what happens if they don’t? How do we then manage to re-engage them and bring them back to the site to finally make that all important purchase?
Whether customers are doing a little bit of window shopping, using their basket as a wish list or just having a browse, we know that basket abandonment is something that is forever in the back of our clients’ minds – cue Ve Interactive!
Ve Interactive are like the ‘Nutty Professors’ of the digital retargeting world, viewing data as a science and continually developing new services to minimise leakage from their partners’ retail sites. The science continues with Ve’s ‘Veriodic Table’ which serves as an interactive tabular guide to all of the ‘elements’ required to achieve total online efficiency. By facilitating the blending of ‘variables,’ you can see what online results can be achieved through Ve solutions.
So Silverbean’s Amy caught up with Jonathan Weeks, Senior Partnerships Manager at Ve Interactive to find out exactly why a brand can benefit from reviewing their re-engagement methods by working with Ve Interactive.
Of course every brand wants to minimise the number of customers that leave the site without making a purchase or at least attempt to re-engage the customers that do but how can Ve Interactive help?
Our VeLabs team (the Nutty Professors!) have developed a portfolio of software solutions that allow brands to maximise their ‘online efficiency’ so that they can ensure that they fully engage with their customers throughout their journeys in order to drive revenue from as much traffic as possible. Cart abandonment is a key failure point for shopping carts and our software handles this particular area with incredible results.
We don’t agree with treating cart recovery as a silo solution that just feeds off the retailer’s cart abandonment problem. Instead we offer solutions that work together to help reduce abandonment in the first place, like VeChat – our fully customisable, multilingual chat agent that can be activated to counter comparison-shopping during the checkout process. VeChat engages with the customer to deliver customer service and advice 24/7, and is delivering an average of 3-4 times the revenue of VeCapture (cart recovery) alone.
We also have VeCompliance – a piece of software to ensure that all our campaigns are fully compliant with local data privacy regulations in highly regulated industries and countries. We even have our own multilingual, multi-currency e-commerce platform; VeCommerce.
So you provide the technology, is that all?
The software does the work but how we set it up and implement it is absolutely key. An agency like Silverbean that really knows their client really is valuable when we are trying to understand the business model and handle the key points of customer attrition.
Remember, the data that the campaign collects is owned by the brand, our job is to make sure that we use it to maximum conversion effect. This includes:
- Advice on targeting customers
- AB testing
- Segmentation of data
- Email design
- Advice on how best to capture customers’ data to allow Ve to re-engage them
- In house general counsel and a Data Compliance manager to keep both us and our clients au fait with data protection regulations
Can you give us some words of wisdom for all of our clients and any other advertisers that follow our blog?
Well first of all I would recommend that a brand fully engages with the audience they have generated before they start looking to grow that audience. There is so much low hanging fruit to convert so make sure your site is performing at its maximum efficiency first.
Some lack the legal approach to data integrity too. There are campaigns out there today that do not comply with the most basic of legal standards so make sure you trust your provider (if it’s not Ve Interactive of course!)
Now the question we all want you to answer – how much does it cost?
- Work on a CPA/CPL basis
- No contract
- No minimum term threshold or turnover
- No hidden costs whatsoever
Finally we’re going to be cheeky and ask if you can give us any gossip? What’s next for Ve Interactive?
Well, we do have a new solution on the horizon, we’re currently BETA testing this. All I can say is deepest and most impactful online efficiency solution yet but until it launches my lips are sealed!
Stay tuned for the big reveals but we’re also nominated for ‘Digital Company of the Year 2013’ at the National Business Awards so wish us luck!