Helping Top-3 global athletic footwear brand to realise its digital potential
DIGITAL ADVANTAGE, %
Our client, a long-standing leader in global footwear industry has spent years trying to establish profitable digital presence.
Management had been working on digital initiatives together with outside experts and yet failed to generate meaningful results. While competitors were driving the buzz and sales through social media and websites, Company’s e-commerce sales remained sluggish; a huge missed opportunity that was putting the entire business at risk.
Waveup was brought in with the task to analyze the existing digital situation, and prepare data-driven analysis and future strategy for Board’s approval.
We were faced with virtually an impossible challenge. On the one hand, we realised we were lacking behind the competition in terms of our digital performance, and it was already affecting our sales and growth numbers. We needed more resources, a solid digital plan and a dedicated team of new hires. On the other hand, we were not producing any results – and the Board was not persuaded of the need of additional investment, treating digital initiatives as an unnecessary cost burden.
HEAD OF MARKETINGOUR APPROACH: STEP 1
High website bounce rates and cart abandonment rates; significantly above the market
Very low engagement and conversion figures; with less than 1% of website visitors buying
Slow online traffic growth (>20% vs 100%+ for major competitors)
Weak content and social media initiatives; with social channel responsible for less than 1% of overall website traffic acquisition
No centralized decision-making to set goals and oversee digital strategy execution, leading to lack of results, high budgets and duplicate efforts
OUR APPROACH: STEP 2
01
Setting the vision and long-term strategic objectives for the entire organisation
02
Setting specific goals for each of the digital streams and developing execution roadmaps
03
Identifying enablers, processes and tools to help the company achieve its vision in each area
04
Mapping key resources, timelines, budgets and KPIs to measure effectiveness
OUR APPROACH: STEP 3
01
Redefined organisational structure to ensure digital is incorporated in company’s strategy across all departments
02
Developed a scalable omni-channel customer acquisition strategy with specific goals and strategies for e-commerce sales
03
Built a content transformation plan to use existing assets more effectively and deliver strong engagement and sharing of the brand
04
Decreased cost per customer acquisition while drastically increasing overall brand’s reach and traffic
05
Designed processes for digital success driving adoption of data, analytics and tools that would allow to track performance in real-time and increase profit centers for the business
122%
increase in traffic
3.1x
higher conversion rate
2.2x
lower customer acquisition cost