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- Your Brand Performance 2023 📊
Your Brand Performance 2023 📊
It wasn't the year for few, but was it for you?
A regular dose of D2C-centric resources & tools for Growing Brands, Startups & Entrepreneurs.
Would you like to know how your brand has performed FY 2023?
Of course you would. But you also need to know how the rest of the market did.
Because..
You might be doing something right that they are not. You need to capitalise more on that advantage.
You need to know who your closest competitors are, just so you are not competing with someone technically out of your league. At least currently.
You can straight-up copy & paste whatever you can from what you learn, and add-on something extra. There’s nothing wrong with it, it’s a competitive world.
By the way, while you are waiting for our PRAGMA WRAPPED 2023.. Checkout our wrapped from 2022 🥳
TOP 5 Performance Data Brands Need
We analysed 1,64,26,547 orders and showed D2C brands the importance of performance data and optimisation.
- Understanding Location based customer satisfaction
- Understanding Location based fulfilment rates
- Understanding Location based ROI (return on investment)
- Understanding Location based returns & RTO data
This, combined with the location info of competitors helps to optimise and compete in areas where they lack.
- Understanding Payment Mode success rates
- Evaluating cross-selling & upselling success rates
- Monitoring device preferences etc.
Limit RTO risk with historic customer data from 450+ brands
- Disable COD for the risky consumers
- Show selective coupons and offers
- Spend less on marketing for regions with high RTO %
And more 📈
There is an inevitable increase in the number of returns during the holiday season sales, yes.
But brands can adjust a couple things in real-time to maximise satisfaction when it comes to return experience.
- Automate 100% of the refund & exchange process, showing instant action to all customers
- Keep tabs on SLA breaches etc. from the logistic partners’ side
- Have access to realtime data to communicate clearly.
Brand ↔ Customer ↔ Logistics.
(PS. In 2022, we were able to help avoid 9,35,053 NDRs and helped 150+ brands automate 100% of Return Management.)
Cart abandonment rate in India has steadily increased from 69.57% in 2016 to 81.52% in 2022 (oof!)
Making it crucial to..
- Understand the stage of drop-off and then the cause
- Optimise and monitor with AB testing & Ecommerce Dashboard
FYI, we converted a total of 6,20,127 abandoned carts in 2022
Make sure you get your performance data for your brand every year.
Make sure you get better the next year.
That’s the end of our talk on “Your Brand Performance 2023”...
☕ See you on the next coffee date!
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