Strategies and Operational Insights from Practitioners for eCommerce Sales & Marketing Performance and Growth -
Mastering Platforms, Acquisition, Conversion & Retention
eCommerce is the backbone of modern retail and direct-to-consumer commerce with customer expectations being set ever higher by the leading eCommerce giants.
The online retail experience cannot be treated as a simple online product catalogue, it must be approached with at least the same level of planning and rigour as a new physical flagship store. Taking account of the online customer profile, the right product mix and pricing strategy must be defined. As a leading international eCommerce consultancy, Together Group supports both the strategic planning and implementation of new eCommerce stores with professional services, as well as the performance-tuning of existing eCommerce businesses. We rely on the 5xT eCommerce Performance Model™ which we developed over the last 15 years at the cutting edge of eCommerce business, from the Virgin Group to Net-a-Porter.
Platform selection - with 5 year useful life expectancy - should take account of the expected run-rate and scope of the operation in years 3-4 in addition to the needs of the business today for technical integrations, regional focus and multi-channel operations. Our platform-agnostic eCommerce specialists will assist you in this critical question looking at all the functional requirements alongside Total Cost of Ownership, availability of global partners and accounting treatment of the expenditure.
eCommerce stores live and die by their repeat business metrics. We can identify your relative performance vs peers and work directly with you to enhance repeat customer purchase frequency and basket size.
Acquisition-Strategy Performance & Customer Journeys
Acquisition is the heartbeat of any business, and growing the customer base is essential for success. In our experience, we generally look to turn around an acquisition issue within 6 weeks of engagement, relying on our 5xT eCommerce Performance Model™ and working across multiple disciplines and territories.
Reducing friction in the eCommerce journey can result in double digit revenue gains in a very short time period. Our UX optimisation team enhances conversion rates while respecting the brand aesthetic and personality.
Once eCommerce was a simple bolt on to an existing business - now eCommerce forms the back-bone of your retail or direct to consumer strategy. Talk to us to find out how you performance compares to your peers and what an investment in eCommerce strategy could yield for your business.
Retaining customers is about more than just data. It is also about understanding how your customers think and behave, and developing a strategic plan to grow retention and increase customer lifetime value (LTV) across the diversity of touch points. 5xThinking have developed a dedicated 5XT Retention Acceleration Programme™, which allows us to quickly benchmark your current retention rate and the opportunities available. We then follow up our recommendations by developing the architecture and roadmap for success and the necessary tools to implement.
Do you know how much business you are losing today because of poor retention management?
eCommerce Conversion Strategy
5xThinking have developed the 5xT eCommerce Conversion Strategy™ for substantially growing eCommerce companies’ conversion across multiple touch-points. We benchmark your conversion to understand the potential opportunity before developing out a strategic roadmap to grow conversion across all areas of the eCommerce business.
We look across all platforms and aspects throughout the customer journey - all the way to post-purchase and the final mile customer experience, ensuring all traffic and interactions with the company achieve maximum conversion level across all traffic sources.
Projects typically range from 6 weeks to 12 months, depending on the complexity and level of structural integration needed to achieve conversion goals.
Organisational Design & Operations Services
5xThinking work with brands to streamline eCommerce structures, systems and teams to improve customers’ eCommerce experience and ensure companies are prepared for growth.
We have developed a structural review process for understanding eCommerce companies’ tools, systems, stock management, website updating, team structures and systems. Throughout this process, we examine the entire customer journey: From the moment a customer arrives at the website to receiving the final product. It is through this journey that we look to quickly understand the challenging areas and develop a critical path to success alongside a roadmap for implementation.
Most companies fail when entering new territories. With over a decade in growing businesses in international markets - including China, the US and Europe & Middle East - 5xThinking understands the common pain points when taking businesses global: From issues with payment providers to logistical challenges, to recruiting a team and developing the correct marketing strategy. We see our role in growing your business as a partnership, helping you focus on the opportunities in new territories, and navigating the challenging areas. 5xThinking also understands that going at it alone in a new territory is not always the best option, which is precisely why we work with international partners to develop joint ventures in new territories to grow brands through our partnership model.
Building the internal team
Growing and developing in-house eCommerce expertise is a real challenge as operations grow. Typically our clients work with us as a strategic partner to run eCommerce operations for them until the business is large and mature enough to support an in0house team. This allows them to accelerate growth with our experienced team while nurturing their own talent.
Driving down the cost of new customer acquisition should be the KPI eCommerce teams live by. Incremental improvements in this area can create a business with leverage where capital can be deployed to radically accelerate revenues and profitability. We work hand-ons with our brands to optimise this crucial metric and can identify if you are performing vs other businesses in your industry.
Pre-&Post-Deal Services for Private Equity:
Digital Due Diligence & Digital Acceleration for your Portfolio
As one of our core competencies, 5xThinking offer a well-defined series of pre-deal & post-deal services for private equity and venture capital funds, as well as for organisations that want to have a professional, pragmatic and independent assessment on their real state of business. Let’s talk.
MEET THE AGENCIES LEADING
ECommerce Strategy & Organisation
”They simply make High-Performance eCommerce and Multi-Channel work for you.”
5xThinking is an eCommerce agency advising and implementing strategies for retail, premium and luxury clients on all things digital. They help accelerate their customers´ businesses.
The 5xT eCommerce Performance Model™ has been developed over the last 15 years at the cutting edge of eCommerce business, from the Virgin Group to Net-a-Porter. Based on our long-term international field experience, we have developed a proven, pragmatic approach to:
Quickly understand your current business performance
Assess its potential for growth
Develop of a strategy, hands-on roadmap and organisational architecture to achieve these goals
What our clients love most about 5xThinking is our passion to collaborate closely with their teams, and to deliver tangible results. So we don’t work as a traditional agency but as part of your internal team, taking responsibility for strategy, targets and performance. The partners consist of the former eCommerce and Digital Director of La Perla and Marketing Director of Net-A-Porter. 5xThinking has excellent Ecommerce design and implementation partners: OVERDOSE.
Our practitioners are ready to work with you.
YOU´RE IN GOOD COMPANY
ASAP Boat Supplies
Drapers Menswear Fashion Brand of the Year
3 x IMA eCommerce Site of the Year Awards