Every brand harbors the ambition to spread its business far and wide. Possibilities are immense, with people finding the products they love online and quickly adding to the cart. The purchase, however, is far from complete as several steps authenticating the transaction with prompts of necessary details cause huge drop offs. That’s where an integrated, merchant-friendly check-out platform such as Shopflo comes into picture.
Solving drop-offs and improving intent
Priy Ranjan, Co-founder & CEO of Shopflo, demystifies the crucial issue of drop-offs. “Many emerging D2C brands use online as a capital-efficient channel to grow in their formative period. But the differentiating factor is in the experience they provide as compared to established brands,” he says. Unfortunately, almost 70% drop-offs are caused during that customer journey. Incremental changes in UI and UX can’t solve that process. The four fool-proof solutions on login, promotion, payment, and analysis by Shopflo helps the merchant control and deliver a great experience to their customers.
These solutions help merchants track the points where the drop-offs are happening and enable deep customization to enhance user experience. This has helped many companies venturing into online space with Shoplo in getting a 15-20% growth. That’s a steep ascent which takes months for companies to reach without the assistance of such platforms. Shopflo now caters to roughly 30-40% of the d2c audience in India and that number is growing every single day.
Shopflo focuses on reducing purchase friction, increasing buying intent, and create urgency, which is a big problem area that customers encounter before paying. They start second-guessing on whether or not they trust the brand, their delivery or return policies. Shopflo helps customers tide over these thoughts impeding the purchase process with a two-step check-out experience, wherein firstly they need to key in their address and pay in the second stage. Also tackling fraud, the brand has taken steps to block certain pin codes and customers with a history of fraudulent interactions. These processes are in-built on the platform.
Shopflo now enjoys a network of roughly 25 million customers getting repeat experience across Shopflo brands. The brand is also creating a seamless mobile-native experience, catering to the internet-rich mobile customer base of India.
When it comes to improving intent, Shopflo now boasts of a discount experience resembling that of top food aggregator platforms, where one can play around with coupons and ladder discounts fuelling purchase intent. These enable deep constructs that help understand customer behavior, while merchants can key in their own brand messaging and connect that back to analytics to customize the user experience. “This helps apparels brands who prefer offering services such as ‘Free Exchange in Returns’ to build trust, and 100 percent refund in 24 hours to build more comfort towards online shopping,” mentions Ranjan.
Optimizing a funnel with customizable reward systems
“These four solutions maximise returns out of every prospective customer and complete the customer life cycle ending with checkout,” says Advait Shankar, Founding product lead, Shopflo. These four key solutions create superb focus through complete freedom to run offers the way any merchant wants to, thus unlocking opportunities for customers to discover offers before or after logging in. “The native Shopify platform may have a hundred other disjointed apps, all of which lack Shopflo’s focus to create the ideal checkout flow,” he adds.
Such levers optimize different metrics for every merchant operating on Shopflo and aiming for a loyal customer base. That’s where a reward system goes the extra mile in any form such as store credit. Citing the classic example of the Starbucks’ wallet system, Shankar says that closed wallet systems have historically been proven on customer retention.
But a solution never existed which seamlessly integrates a close wallet system with customer’s purchase flow for brands to monitor and optimize lifetime value of a first-time or repeat customer. “With a closed wallet system, a merchant can have coins running a wallet system, that allows them to give credits to their consumers or cash-back on a purchase. For D2C brands in India, a closed wallet system, which is in-sync with the checkout flow,” Shankar maintains.
Shopflo ensures a brand-owned wallet system for all types of credits in multiple ways, stitching the purchase flow to the checkout process. Launched in May 2022, Shopflo is live on about 200-plus brands, helping them directly with conversion rates on top of the funnel, says Deeksha Bhargava, Founder’s Office at Shopflo. The metric where you optimize from add to cart to your order, we have helped in boosting conversion to the tune of 15-40%. Our brands have seen, at least 30x to 50x return on investment. Various reputed brands such as Yoga Bar, Sleepy Owl, Dot and Key, Juicy Chemistry, Suta, Dr. Sheth's, and mCaffeine have gone live on Shopflo. Optimizing on their last and most critical step of customer purchase journey directly boosts their revenue,” Bhargava adds.
As more brands come onboard, the team understands the pressing need for a multi-module solution for every form of merchant, instead of offering a one-size-fits-all service. Shopflo gives control to merchants to chart their own way of customer acquisition that reflects the brand's positioning, messaging, and actions. Set to make a big splash with early access to their new wallet system at IReC 2023, Shopflo is determined to provide a seamless rewarding experience with repeat users to every progressive brand.