Optimizing the Customer Journey for Price Comparison

+4%

Overall conversion rate uplift

+4.8%

Conversion rate uplift by highlighting new products

+8%

Conversion rate uplift with session-based personalization

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HobbyKing is a pureplay online retailer specializing in remote-controlled hobbies, selling RC planes, drones, cars and accessories. With a team firmly focused on selling the latest products at the best price, the brand wanted to ensure these values were embedded in the online customer journey.

Challenges

With a huge range of SKUs available, HobbyKing hypothesized that it may be difficult for returning visitors to see the newest arrivals. The challenge was therefore to assist them in doing so, and as soon as possible in the customer journey.

Once visitors find what they are looking for on the HobbyKing site, the next challenge is ensuring that they don’t go elsewhere to compare prices. This is particularly key for branded products available via other stores or sellers. 

A common price comparison behavior is to highlight and copy the product name in order to perform a Google search. HobbyKing wanted to understand if its visitors were doing this, and the scale and the impact of it, in order to develop a strategy to combat this ‘copy-paste-compare’ behavior.

Finally, HobbyKing wanted to incentivize those visitors who returned to its site multiple times without purchasing. However, it was key to do this at the right point in the customer journey – not too early that the brand would be giving away margin, and not too late that the visitor might buy elsewhere.

Solutions

Working with Yieldify, HobbyKing was able to develop innovative, but simple solutions to its challenges. 

As a solution for promoting new products, the brand hypothesized that directing visitors to new arrivals would increase engagement, and in turn, conversions. A bottom bar highlighting ‘shop new arrivals’ was therefore served to returning visitors dwelling on the homepage or category pages.

Mobile customer journey

Combatting comparison behavior, and specifically, the ‘copy-paste-compare’ action hinged on being able to recognize this behavior in the moment, and proactively prevent it. Using Yieldify’s click trigger functionality, the brand served a ‘best price guarantee’ message to visitors who highlighted product names on product pages.

HobbyKing Customer Journey
HobbyKing: Click Trigger Price Guarantee

To identify the right moment in the customer journey to target returning non-purchasers, the Yieldify team worked with HobbyKing to analyze how many sessions were generally needed before a transaction, and if there was a particular point where this dropped off:

The results were clear. Users in their third session represented just 8.5% of transactions vs. almost double this (15.9%) for those in their second session, so the team decided to test targeting visitors in this group with an incentive via Yieldify’s session targeting functionality.

Results

The hypothesis that directing returning users toward new arrivals would increase engagement and conversions was tested against a control group, and drove a conversion rate uplift of 4.8%, proving the effectiveness of this strategy.

By testing the click trigger message, HobbyKing was able to understand the scale and impact of price comparison behavior. In total, it identified over 80,000 instances since launching the campaign. The USP message has driven a conversion rate uplift of 2% and generated 233 incremental sales that would otherwise have been lost.

Session-based targeting allowed HobbyKing to validate the hypothesis that the third session was the best place to incentivize visitors, driving an 8% uplift versus the control group.

Overall, the customer journey optimization strategies implemented by Yieldify have resulted in a 4% increase in conversion rate.

Results

+4%

Overall conversion rate uplift

+4.8%

Conversion rate uplift by highlighting new products

+8%

Conversion rate uplift with session-based personalization


“The success we’ve seen to date with customer journey optimization has been down to a data-driven approach. Since our very first kick-off meeting, the Yieldify team has consistently demonstrated its ability to surface insights that improve our customer journey. Not only that, but the flexibility of the platform means it’s easy to adapt our strategy to respond to the needs of our visitors.”