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UK bed retailer increases revenues and cuts costs using Monetate Personalisation. Mobile conversion rates up 23 per cent; Mobile revenue up 89 per cent.
LONDON, UK – Monetate, the leading provider of testing, targeting and personalisation technology, has announced it has been working with Dreams, the UK bed retailer and manufacturer, to increase online revenue, cut external agency costs and streamline implementation of site changes. Monetate’s testing and targeting technology has reduced mobile bounce rates for Dreams by over 10 per cent. The bed retailer will now use the data gained from this initial testing and targeting stage to take the first steps along the path to personalisation.
Founded in 1985, Dreams is a UK retailer and manufacturer that specialises in beds, mattresses and bedroom furniture. The company has over 170 stores across the UK. Over the last five years Dreams has focused on overhauling its order and delivery processes. Last year the company acquired its own fleet of home delivery vehicles, refurbished over 60 stores across the country and brought Mike Logue on board as new CEO in a bid to enable the company to continue leading in an increasingly competitive market
Dreams has set up an initiative to tap into the ever expanding online market in the UK as a first step to growing its customer base. As part of this mission, Dreams contacted Monetate to discover how the power of testing, targeting and personalisation would allow it to truly engage with the UK’s online audience. So far the partnership has led to the company’s most successful trading day in August 2014 with revenues up 198 per cent and a tailored mobile site that has captured sales that might have otherwise gone to competitors.
Richard Voyce, Head of eCommerce at Dreams said: “We have a goal is to be Britain’s biggest, best and most recommended bed retailer. For us our success rests on putting the customer first and doing the right thing. Since adopting Monetate’s technology we have managed to cut external agency costs dramatically, increase our conversions and reduce mobile visitor bounce rate by 10.8 per cent. Monetate allows us to do things we couldn’t before with ease and agility.” – Richard Voyce, Head of eCommerce at Dreams
One of the successful campaigns run by Dreams using Monetate’s technology saw the implementation of a ‘FREE DELIVERY’ banner on the top of a user’s shopping basket. This tweak alone increased the revenue per session by 8.9 per cent as shoppers realised they didn’t have to take additional shipping charges into account. Over all, this banner has generated an additional £31,300 ($49K) of Incremental Revenue.
Mike Harris, VP of EMEA at Monetate said: “It’s great to see how we have been helping Dreams to truly tap into digital audiences with our testing and targeting technology. The August bank holiday in 2014 was a testament to this when Dreams experienced their most successful online trading day of the year. Our specialist development teams here at Monetate designed, and helped Dreams deploy, a countdown timer for the Bank Holiday sale that instilled urgency in customers and increased conversions. It’s incredible the value that testing, targeting and personalisation technology is adding to traditional retailers.”
Dreams found that online customers came from a mix of 50 per cent desktop, 25 per cent mobile and 25 per cent tablet users. The company saw how, as the use of mobile devices and tablets continued to grow, desktop users were dropping rapidly. Using Monetate’s technology Dreams deployed a lightbox menu that appeared to users as they first visited the site. This lightbox allowed customers to navigate to key areas of the website including the store locator and sales sections. Implementing this lightbox lowered the bounce rate of mobile users by 10 per cent.
The next step for Dreams is to launch a responsive site using the customer insight and intelligence gathered from Monetate’s testing and targeting platform. This will enable the company to integrate testing and targeting into its next site and also allow them to look into personalisation in more depth.
Richard Voyce, Head of eCommerce at Dreams added “The bed industry is quite far behind when it comes to technology so it’s great that Dreams has a head-start. Working with Monetate has allowed us to create an industry leading digital offering and continually strive for improvements. The next step of the Dreams journey is to look into personalisation in more detail and use it to provide our customers with a better, more customised shopping experience.”
Monetate, the global leader in personalization software for consumer-facing brands, enables marketers to create truly individual experiences that surprise and delight every customer, increasing engagement and improving performance.
Monetate’s approach to personalization starts with the understanding that each individual is unique, and instantly chooses the best interaction for each one. Unlike testing, which identifies the best choice for everyone, or segmentation, which defines the best choice for a group of people, Monetate’s 1-to-1 personalization engine reflects the full diversity of human beings and creates an experience for each one, in each moment.
In order to deliver true 1-to-1 experiences, Monetate’s platform is:
Founded in 2008, with offices in the U.S. and Europe, Monetate is used by leading brands around the world and influences billions of dollars in revenue every year for QVC, Newegg Inc., J. Crew Group Inc., The North Face, and hundreds of other market leaders.