Walmart High Impact Perfection Initiative
Recently we were blessed to be part of a high impact initiative at Walmart.com lead by veteran eCommerce all-star CEO Mark Lore.
When you are in the Walmart ecosystem, if you do the basics right you win. There are over 7 million products on Walmart.com, their traffic is crazy big and their sales volume is crazy high. Mr. Lore contends that if his buying teams do the basics right in merchandising there will be huge impact to the bottom line.
Walmart wins by hitting five key components during their shoppers’ journey for a given product. Those components come together in Mr. Lore’s Consumer Value Index (or CVI for short):
- Having it as a listed product
- Configuring the product in the system so a shopper can Find it
- Displaying it in a way that best merchandises the product
- Pricing it right, and
- Shipping it in the way the shopper prefers
I am here to tell you that Mr. Lore is right!
By implementing Sellpoints proprietary technology to optimize the display and interaction with products, add-to-cart rates were immediately boosted and validated with A/B testing.
How Interactive Images can benefit your brand
We are so lucky here at Sellpoints to have this exclusive product and channel marketing technology available to all brands selling across Walmart.com.
Our Interactive Images, or i2s as we sometimes call them, allow brands to tell their product story in the most engaging manner all above the fold on a product page – where 80% of shoppers remain rather than scrolling down below the fold to learn more.
Here is a video overview about our Interactive Images and how they work:
As our tagline says, “if we can’t double your sales, then one of us is in the wrong business”.
Proving ROI with Math
We care about our customers which is why we nerd out on their behalf constantly. Since it’s possible to measure everything in eCommerce, we do it whenever we can so our partners and clients can be sure they are getting the most bang for their buck. The image below is a 3 dimensional surface plot showing what we are all about:
As visitors or conversion rates increase, and time progresses, there is a direct correlation to ROI.
We went back to school and came up with this derivation of what it means for one of our customers to see a positive return on their investment from our eCommerce enablement technology. While we aren’t on a lecture series, we think and act quantitatively to communicate clearly on what we are delivering. To simplify what’s below: if the cost of Sellpoints Service divided by the additional margin coming from more visitors doing more buying is less than one we are creating value. We are always looking for new and innovating ways to make it much, much less than one; more often than not we target at least 1:20.
The bottom line is actually straightforward: our clients make money when the margin from incremental sales is greater than the investment in our technology.
If you’re interested in learning more about how you can activate Interactive Images across Walmart, Costco, Office Depot and dozens of other leading retailers, we’d be happy to answer any questions and walk you through the simple process.
And when you’re ready to activate your Interactive Images with Sellpoints, we’ll help you sell more … immediately.