While online retail is already highly competitive, the medical accessories market comes with unique growth challenges. With the right strategy, technology stack, and execution – someone is winning in this space every day. Smart Medical Buyer, an Indian medical instruments and accessories retailer, experienced something similar.
Here is the story behind Smart Medical Buyer’s secret to breaching an 18% conversion rate through marketing automation and personalized engagements.
Smart Medical Buyer: The Brand’s Background
Smart Medical Buyer is an e-commerce portal that deals in high-quality medical products, medical instruments, medical equipment, and related accessories in India. SMB is known for selling quality multi-brand medical products at highly competitive prices.
SMB’s business model is their exclusive tie-up with surgical equipment brands like Intersurgical, Philips Respironics, Coloplast, Romsons, and B Braun and pushing their best products online to the medical consumers.
Mapping Growth Challenges for Smart Medical Buyer
Like any other e-commerce brand looking to make a mark in its niche, SMB managed to get its name out in the market to become a recognized player. However, they soon realized that mere ‘branding’ efforts were not sufficient to keep their products flying off the shelves. SMB faced these four sequential challenges;
- Growing subscribers’ list – SMB received a ton of traffic on their website. Though, their subscribers’ list wasn’t growing in proportion to it.
- Building first-party database – Without substantial growth in subscribers’ list, SMB couldn’t create their own first-party customer database that can be leveraged in the long run. They had to rely on third-party databases to keep the revenue up.
- Increasing sales conversion – Stagnant conversion rate was another hindrance for SMB. Despite putting more marketing muscle, the revenue graph moved glacially.
- Retaining existing customers – A rising annual churn rate for any e-commerce is not a good sign. SMB found it difficult to retain their existing customers without a well-aligned marketing infrastructure in place.
SMB’s switch to smart and tactile marketing with Wigzo
Wigzo’s marketing automation suite came in as the spot-on solution for SMB’s growth challenges. In a nutshell, Wigzo’s marketing automation aligned opt-ins and personalized engagements with SMB’s sales pipeline.
Discarding multiple tools, platforms, and dashboards integrated with an archaic marketing strategy, Smart Medical Buyer adopted Wigzo for its newfound growth.
Here is how it implemented the AI-driven marketing tech-stack to regain its footing in the medical supplied market.
Growing subscribers’ database with seamless opt-ins
SMB needed a first-party customer database for securing long-term sales prospects. Wigzo’s web push opt-ins came in handy for the situation.
Web opt-ins allowed the customers to subscribe to Smart Medical Buyer’s notifications and updates without giving their contact details. Intuitively, SMB’s subscribers’ list grew sizeably within a short period.
Unleashing the power of effective customer segmentation
Customer segmentation can be a powerful strategy for higher conversion rates, personalized engagements, and much better customer retention. Surprisingly, just less than 49% of marketers leverage customer segmentation for more profit. SMB employed the same with Wigzo.
For instance, they segmented their customer based on past purchases, online behavior, and purchase frequency. Post that, SMB deployed personalization at scale to boost their sales conversion. E.g., a customer segmented as ‘first-time visitor’ was greeted with appropriate discount coupons and opt-in nudges. A repeat buyer, for instance, was greeted with personalized communication based on their last visit.
“These efforts lead to a 43% increase in online transactions for SMB.”
Deploying personalization at scale for steady growth
Providing a personalized customer experience became a priority for Smart Medical Buyer since it yielded results that surpassed their sales expectations.
SMB deployed personalization at scale with Wigzo via;
1:1 Personalized Push Campaigns
With smart customer segmentation and consolidated customer data over a single dashboard, SMB launched personalized push campaigns to persuade different customer segments.
E.g., by grouping the customers via their purchase history, SMB offered them discounts, coupons, and product recommendations for a better CX. This resulted in a higher ROI vis-a-via spend for every campaign.
“SMB garnered 112% increase in sales conversion through personalization at scale.”
On-site Personalized Nudge
One of Wigzo’s standout feature is the ‘On-site Nudge.’ These automated, personalized pop-ups are triggered by an AI-engine based on every visitor’s unique journey on the website.
SMB leveraged this feature to its core. They used it for;
- Personalized cart recovery nudge in case of cart abandonment. This allowed them to recover up to 68% of the otherwise lost sales.
- Reducing browse abandonment via exit-intent predictions and pop-ups. E.g., the AI-engine triggered exceptional deals and offered if the user was about to exit the website after browsing medical products.
- Pushing cart-based value offers to increase their average order value. E.g., offering a person an exclusive discount if they added a certain product into their existing cart.
On-site nudge helped SMB boost their customer experience score in addition to pushing more sales.
“The above efforts raked in 68% more revenue for SMB within just months of implementing Wigzo.”
In Kunal Sood’s own words (Director of E-Commerce, SMB) – “Great experience overall! Lots of new features and a great support team to help us with our requirements.”
Wigzo’s seamless tech integration, one dashboard for consolidated marketing analytics, actionable insights, and AI-based marketing automation allowed Smart Medical Buyer to overcome all its growth challenges.
Thanks to Wigzo’s assorted palette of smart marketing automation tools, e-commerce brands can now easily navigate through the complex digital markets of today. Frankly, this is what we strive for all our clients 😉
If you wish to uplift your digital retail brand’s profit bottom line, Wigzo has got the right stack for all your unique needs. Request a FREE Demo today!