“At Tyviso, we’re focused on helping brands grow their revenue through science-led, strategic partnerships. LG’s move to embrace Gift with Purchase shows true leadership in putting customer value first, without eroding margins.”
Ever feel like keeping customers happy is a never-ending quest? One minute they’re purchasing with glee, and the next, they’re lured away by a competitor’s shiny offer. The key to building lasting customer relationships is all about creating extra value at every stage. Enter: brand partnerships. By working with complementary businesses, you can drive higher conversion rates, boost average order value (AOV) and keep customers coming back. Here are four tried-and-tested tactics:
1. Entice with a Gift With Purchase (GWP)
Think of a GWP as the dessert after a great meal. A global kitchen appliance brand used Tyviso’s GWP widget on its checkout page and saw a 14% lift in AOV alongside a 10% basket uplift. It’s a simple yet powerful way to make shoppers feel special and push them over the line to complete their purchase.
2. Deliver Tailored Rewards
Customers love to feel valued, so reward them for sticking around. Broadband provider Plusnet showcased curated offers on its “My Perks” page, giving shoppers real reasons to stay engaged. As a result, churn dropped by 5% and visitors spent 33% more time on site. By offering carefully selected deals that match your audience’s interests, you build a sense of exclusivity and show that your brand genuinely cares about its customers.
3. Join Forces with Complementary Brands
Picking the right brand is like finding the perfect dance partner: you’ve got to move in sync. A baby and toddler products retailer teamed up with third-party brands who met the needs of the same demographic and experienced a notable 46% jump in conversion among users who picked a free gift at checkout. Customers appreciate relevant offers that feel natural, so choose partners whose products seamlessly pair with yours.
4. Use A/B Testing to Find Your Sweet Spot
There’s no one-size-fits-all formula for brand partnerships, which is why A/B testing is your best friend. Using Tyviso’s tools, Parcel2Go tested multiple widget designs to optimise layout and messaging, ultimately lifting its average order value by almost 30%. By testing different placements and designs, you’ll pinpoint exactly what gets your audience excited.
Brand partnerships can ignite your metrics, maximising customer loyalty and driving tangible growth in eCommerce conversions. By combining relevant offers, testing different approaches, and pairing with complementary brands, you can create an experience that customers notice and appreciate.
Transcript
“At Tyviso we know that brand partnerships are the key to unlocking higher revenue without spending additional budget or offering discounts that eat into your margins. Our science-led approach has consistently delivered outstanding results. In fact, we are delighted to share a new record set by Haier, who achieved a remarkable 177% increase in basket completion rates by adding value through carefully chosen gifts with purchase.”