How a Struggling Online Retailer Went from Bankruptcy to Profitability to Acquisition in 10 Months. (You’ll Learn How You Can Grow This Fast, Too.)
In 2015, an investment firm acquired Karmaloop.com out of bankruptcy. Drew Sanocki – the instructor for this live course – came on board as the CMO to find that not much was working.
Karmaloop had alienated most of its vendors, core merchandise had been lost, loyal customers were walking away without products they had paid for pre-bankruptcy… it was bad.
Drew knew that he had to focus on three factors: acquisition, average order value (AOV), and repeat buyers.
Acquiring the Highest Value Customers
Karmaloop’s most valuable customers were gone and, as a result of the heavy investment in promotion pre-bankruptcy, only bargain shoppers were left.
You know, customers who only buy on promo. Drew’s biggest task was acquiring more high-value customers through strategic Facebook and Instagram funnels.
Boosting Average Order Value (AOV)
Not surprisingly, bargain buyers don’t have a high average order value.
To boost AOV, Drew introduced a few key email campaigns: onboarding, abandoned cart, a custom campaign for those with a high AOV, and post-purchase cross-selling and upselling.
Creating More and More Repeat Buyers
Karmaloop bargain buyers were only purchasing when something was on sale. Drew needed to change that.
If someone hadn’t purchased in 30, 60, 90 days, Drew’s win back email campaign would kick in with an ascending offer to keep customers coming back.
Less than a year later, everything had turned around.
They were acquiring high-value customers again, repeat orders were steadily going up and customer lifetime values were steadily increasing. Drew took Karmaloop from bankruptcy to profitability to acquisition in under a year.
The Process for Doubling Your Ecommerce Revenue
Now Drew is ready to let a few marketers look behind the curtain. He’s ready to show you, step-by-step how he achieved unprecedented growth for Karmaloop (and many other ecommerce sites since then).
Follow along as Drew shares his screen and gives you access to actual Google Analytics, Facebook, and ESP accounts.
This course is about boosting meaningful acquisition, AOV and retention to skyrocket growth. It’s about doubling your ecommerce revenue in less than a year.
