Retailers have teased and rolled out online deals for days, even weeks, but the real Black Friday is here.
CRM efforts at Odimo Inc.`s retail web sites are driving significant increases in the number of orders, COO Jeff Kornblum tells InternetRetailer.com. "We shipped 47% more orders in 2002 than 2001," he says.
Customer relationship management efforts at Odimo Inc.`s Diamond.com and WorldofWatches.com are driving significant increases in the number of orders, COO Jeff Kornblum tells InternetRetailer.com. "We shipped 47% more orders in 2002 than 2001," he says. The number of units per order also rose close to 50%, he adds.
Kornblum, noting that he expects to also see strong results for the first quarter, says the increased activity is largely due to Odimo`s efforts to improve site navigation, search function and merchandising displays based on its analysis of customer buying behavior and traffic patterns. "Every year we get a little smarter and get a better idea of what our customers like to buy," he says.
Among recent improvements is an enhanced keyword search based on Odimo`s analysis of the most frequent terms customers use in conducting searches. Now, when shoppers land on a page as a result of a search for a particular product, they see a larger number of related products. "When they go to a page for one item they`re looking for, we give them more related items," Kornblum says. "This has absolutely led to the 47% increase in orders."
Odimo uses customer shopping data collected through its proprietary CRM system, though it also has improved its merchandising efforts through cooperation with shopping portals Yahoo, MSN and AOL, Kornblum says. For example, he adds, Odimo has seen better conversion rates from portal promotional ads that linked to a display of several related products in addition to the one being promoted.
Kornblum says he expects analysis of customer shopping behavior and traffic patterns to also begin producing an increase in orders at Ashford.com, which Odimo acquired late last year from GSI Commerce Inc. Odimo is currently building improved site navigation on Ashford and building up its merchandise levels in areas such as jewelry and leather goods, Kornblum says.