265. Increasing Average Order Value by 20% and Converting First Time Buyers With a Product Add-On

Cubicle to CEO

Ellen Yin

Entrepreneurship, Business, Marketing

5.0 • 580 Ratings

🗓️ 23 September 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s case study is a lesson in using customer feedback to evolve your brand. Despite uniquely positioning themselves as frameless prints for 15 years, Fracture recently made a surprising move. When Meredith English, who led teams at well-known consumer brands like Crocs and Daily Harvest, became the new CEO of Fracture, she recognized the customer demand for a framed option of their signature frameless glass photo prints, and took a calculated risk to roll out this product add-on. Introducing this add-on to their checkout resulted in a 20% increase in their average order value, improved their customer acquisition costs, and finally converted fence-sitters who had been sitting for ages on their email list into paying customers. Here’s exactly how Fracture made this decision and launched this add-on, and when it's smart to adapt your business to grow alongside your customers’ evolving preferences. View the transcript for this episode at: https://otter.ai/u/RpoGvP9Pdn_GV-_ZhZ38y3pWehA?utm_source=copy_url Thank you to our sponsor! Uplevel your healthy habits with Soursop's Cell + Immunity gummies and shakes! Get 20% when you use code 'CEO20' at https://www.soursopnutrition.com/ Connect with Meredith: www.fractureme.com IG: @fractureme TikTok: @fractureme_ https://www.linkedin.com/company/fracture/ https://www.pinterest.com/fractureme/ Link mentioned in the episode Net Promoter Score software: https://fracture.asknice.ly/login/?uri=%2Fdash%2Foverview Iconic business leaders all have their own unique genius. Take this quick 10 question quiz to uncover your specific CEO style advantage: https://ellenyin.com/quiz If you enjoyed today's episode, please: Post a screenshot & key takeaway on your IG story and tag me @missellenyin & @cubicletoceo so we can repost you. Leave a positive review or rating at www.ratethispodcast.com/cubicletoceo Subscribe for new episodes every Monday. Join our C-Suite membership to get bonus episodes! Check out everything our members get at https://ellenyin.com/csuite Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to Kivocalda CEO, Episode 265. Today's case study is a lesson in using customer
0:05.9	feedback to evolve your brand. Despite uniquely positioning themselves as frameless prints for 15 years,
0:12.5	Fracture recently made a surprising and bold move. When Meredith English, who led teams at well-known
0:17.9	consumer brands like Crocs and Daily Harvest became the new CEO
0:21.7	of Fracture, she recognized the customer demand for a framed option of their signature
0:26.8	frameless glass photoprints and took a calculated risk to roll out this product add-on.
0:32.3	Introducing this add-on to their checkout resulted in a 20% increase in their average order
0:37.4	value, improved their
0:38.9	customer acquisition costs, and finally converted fence sitters who had been sitting for ages
0:43.9	on their email list into paying customers. Here's exactly how Fracture made this decision
0:49.3	and launched this add-on and when it's smart to adapt your business to grow alongside your customers' evolving
0:55.2	preferences.
0:59.3	Welcome to Cubicle to CEO, the podcast where we ask successful founders and CEOs, the business
1:05.4	questions you can't Google.
1:07.6	I'm your host, Ellen Yin.
1:09.4	Every Monday, go behind the business in a case study style interview
1:12.6	with a leading entrepreneur who shares one specific growth strategy they've tested in their own
1:17.8	business, exactly how they implemented it, and what the results and revenue were. You'll also hear
1:24.5	financially transparent insights from my own journey, bootstrapping our media
1:28.5	company from a $300 freelance project into millions in revenue.
1:41.3	Hey, everyone, welcome back to the show. Today, I have Meredith English joining us. And Meredith,
1:47.4	you have an interesting cubicle to CEO story because you actually used to work at Crocs. So I'm going to say
	...

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