Start-up who needed a solution to marketing in a profitable way
Start-up business now stocking products in the likes of John Lewis and Liberty.
A start-up like ourselves, Stitch and Story were created by the ambitious duo of Jen Hoang and Jenny Lam. They supply all-in-one knitting kits, online tutorials, and hold knitting workshops in London.
Today Stitch & Story are featured in magazines and newspapers, such as The Guardian, Elle Decoration and The Independent.
Stitch & Story wanted to find a way to market their business in a profitable way, without losing profit on every order.Download PDF
Previous to working with Bidnamic, they were working at a loss to acquire customers.
Stitch and Story needed a solution that would give them an opportunity to expand its brand globally and help increase their average order value.
The quality of products and the shopping experience they offer results in very loyal customers. In the short term, the cost of acquisition per customer created a cash flow challenge on Google Shopping as they would have to wait for the customer to purchase again for it to become profitable. This limited their speed of growth as they could not reinvest into the company.
They needed a change of approach to Google Shopping to help them make the most out of the platform.
in online catalogue
Average Order Value Growth
Conversion Rate Growth
“We have been truly thrilled by the results the Bidnamic platform has delivered for us, increasing our revenue by 60% whilst significantly reducing the cost to acquire customers”
Bidnamic reduced the cost per customer by 31%
Stitch & Story were wasting ad spend on genetic awareness terms such as “wool”, “yarn”. This is very common and very few companies using Google Shopping are aware of this.
Bidnamic’s purchase intent engine re-distributes ad-spend so that they only bid aggressively on terms that are likely to convert into a sale.
The second challenge was the low average order value, as customers would place single item orders. Bidnamic increased the average order value by 52%. To do this, Bidnamic’s machine learning technology first profiled every product to understand the relevant search terms and their performance. It then used this data to increase visibility for higher value products.
Working with Bidnamic, Stitch & Story managed to increase their average order value by 52%, whilst driving brand awareness, resulting in a 19% increase in conversion rate.
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