With customer loyalty across the retail industry at an all-time low, Office Depot claims it is leading the office supplies sector with an innovative new digital personalisation strategy that is already proving to increase customer engagement. In just four months, Office Depot has managed to boost online conversion rates by three per cent, generating more than £2.5 m in projected annual revenues.
The leading global provider of office products and services needed a personalisation solution that would enable them to track the behaviour of customer segments and then easily create targeted experiences without dependency on their internal IT team. Using Monetate’s platform, Office Depot was able to achieve these goals and dramatically increase on site engagement through creating tablet-specific navigation for mobile customers, countdown timers to promote offers and run multiple campaigns in real-time.
After implementing Monetate’s technology, Office Depot’s e-commerce team:
- Launched 44 campaigns in the first 4 months increasing conversion rates by up to 3% that generated more than £2.5m in projected annual revenue
- Created a tablet-specific navigation that produced a 22% increase in revenue per session, equating to a couple of million dollars of incremental revenue across Europe
- Generated over £1.3m in projected annual revenue through use of a “free next day delivery” countdown timer
In Europe, Office Depot is the number one reseller of workplace products and services with around 6,000 associates and two main brands: Office Depot and Viking. Established in 1986, Office Depot is now present in over 57 countries worldwide. The company strives to deliver a world-class customer experience and wanted to ensure that this was replicated online.
Previously, Office Depot had relied on their legacy eCommerce platform which meant it was slow and difficult for the company to target customers in real-time. Even the smallest site change had to be processed by their IT department.
Jonathan Newman, VP e-commerce & marketing operations at Office Depot, said: “We are absolutely delighted to be recognised for our use of personalisation to improve the customer experience whilst benefitting the bottom line. We are passionate about our customers and we’ve always been looking at how we can get a little bit closer to understanding their needs. Monetate’s technology allows us to create, test, and deploy personalised experiences on the web. With Monetate we can change any aspect of our website and target those changes to specific audience segments. For every dollar we spend with Monetate, I’m confident that we’ll see a return of 15x return on investment in 2015 and 2016.”
Mike Harris, Monetate’s VP EMEA, said: “Office Depot has used Monetate technology to create a truly personalised customer experience and is reaping the rewards. With a mixture of targeting campaigns and tailoring the experience for different devices, it has contributed to increasing revenue while also improving the customer journey. The Office Depot team has delivered impressive results and have received this award by demonstrating the significant impact that personalisation has had on their business.