SEATTLE--(EON: Enhanced Online News)--BevyUp, the e-tail social revenue optimization company, today announced that two new e-tailers have deployed its cloud-delivered social revenue optimization (SRO) platform to boost order size, revenues and engagement. On average, existing BevyUp customers have increased conversion rates by 37 percent since deploying the SRO service. Jewelry designer Amrita Singh and fashion designer Vanessa Knox are now using the BevyUp service to enable social shopping and gather sentiment intelligence from visitors.
“E-tailers want and need to use social data to drive merchandising and pricing decisions, but this business intelligence is locked up in social networks like Pinterest and Facebook, emails and texts. They need to reclaim sentiment information about their products and services that is being shared outside their web stores”
“Our users have told us they really enjoy the ability to shop together online, which at the same time enables us to gather valuable data for making real-time marketing decisions,” said Vika Osipenko, digital marketing manager for luxury jewelry designer Amrita Singh. “The numbers speak for themselves. Since deploying BevyUp, we’ve increased our conversion rate and revenue per visit by more than 200 percent, and average order value by 44 percent.”
Social networks have emerged as the leading tool for sharing product and service sentiment information. According to industry estimates, 87 percent of consumers look to friends first for product recommendations and purchasing advice. The BevyUp platform enables e-tailers to embed social sharing and collaboration capabilities into their websites so they can capture sentiment intelligence that is otherwise “locked up” in social networks.
“BevyUp enables us to provide a unique online shopping experience that supports the personal voice of my brand, it is a significant differentiator,” said Vanessa Knox, owner of the fashion design house of the same name. “The ability for shoppers to place products in a visual pinboard on the site really helps to replicate how you might organize clothing in a fitting room to make your final buying decisions. The products and sentiment tags that are placed on the pinboard also help us with pricing, promotion and inventory decisions.”
Online retailing is a data-driven business. The ability to collect, analyze and extrapolate actionable insights from shoppers’ sentiments is the holy grail for e-tailers. However, it can’t be harvested from click stream data. BevyUp enables retailers to understand what consumers think and feel about their products’ pricing and features by capturing both structured and unstructured sentiment data from collaborative online shopping sessions.
“E-tailers want and need to use social data to drive merchandising and pricing decisions, but this business intelligence is locked up in social networks like Pinterest and Facebook, emails and texts. They need to reclaim sentiment information about their products and services that is being shared outside their web stores,” said Mauricio Cuevas, CEO of BevyUp. “The BevyUp service provides a unified platform that enables social revenue optimization. For e-tailers, this means the ability to foster social interactions on their site, gather sentiment analytics and monetize this intelligence to increase revenues.”
BevyUp Service by the Numbers
Many online purchases involve more than one decision maker, including apparel, travel, bridal, jewelry, real estate and more. Often, buyers are in different cities, states or even countries. BevyUp layers a social experience on top of any e-commerce site to enable consumers to organically share and discuss products and content in a track-able and contextual manner. In deployments, BevyUp has increased:
- Time on site per visit by 238 percent
- Conversion rates by 37 percent
- Average order value from 17 to more than 21 percent
- Incremental revenue per visit from 14 to 26 percent
For every dollar invested, the BevyUp service delivers an average of $2.18 in incremental revenue.
BevyUp video: http://www.youtube.com/watch?v=CMIqqLLCmRY
BevyUp Test Drive: http://www.amritasingh.com/ click on “Ask a Friend”
BevyUp product information: http://www.bevyup.com/features.html
BevyUp management team: http://www.bevyup.com/about_us.html#Team
BevyUp provides a cloud-delivered social revenue optimization platform for e-tailers. The service integrates in minutes, provides engaging real-time social shopping across web and mobile platforms, and gathers previously unavailable sentiment intelligence. BevyUp is proven to boost conversation rates, average order value and incremental revenue per visit by up to 37 percent, and engagement by 238 percent. Visit us on the web, on Facebook and follow us on Twitter.