How GhostBed maximized pre-BFCM revenue while protecting margins through AI personalization
"LTV.ai's AI driven approach allowed us to achieve what seemed impossible - driving significant full-price sales right before Black Friday, adding tens of thousands to our bottom line."
+78%
increase in average
CTR
+342%
increase in conversion
rate per send
About GhostBed
GhostBed is a premium sleep technology company specializing in cooling mattresses, pillows, and bedding accessories. Known for their innovative approach to sleep solutions, they offer products across multiple price points while maintaining a commitment to quality and comfort.
The Challenge
Despite having a strong brand and loyal customer base, GhostBed faced several challenges in the period leading up to BFCM:
Timing Pressure: The pre-Black Friday period typically sees customers delaying purchases in anticipation of deep discounts, creating a challenging sales environment.
Margin Protection: The traditional approach of heavy discounting during the holiday season significantly impacts profit margins, affecting overall business sustainability.
Customer Expectations: With the industry trained to expect major discounts during Black Friday, convincing customers to purchase at full price required a new approach.
The Solution
LTV.ai enabled GhostBed to launch a VIP Sale, powered by 1-1 personalization as opposed to heavy discounts that eroded margins.
This allowed GhostBed to:
- Offer personalized product recommendations to every customer: Using customer variables like previous purchases, LTV, location etc, LTV.ai was able to offer personalized product recommendations to each individual.
- Push more sales in supplementary product categories: By understanding factors like what a customer purchased, when they purchased it and where they're based, LTV.ai was able to recommend specific product categories to customers in a logical and natural manner.
- Increase Conversion Rate per Send by 342%: By simply speaking to each customer like an individual as opposed to using catch-all emails, LTV.ai was able to significantly increase conversion rate per send metrics without the use of any discounting at all.
The Results
The collaboration with LTV.ai resulted in considerable incremental results for GhostBed, measured against a control group.
- Customer Segment: Haven't purchased in 3 - 48 months.
- Discount Used: None
- Average CTR: 1.67% (+78%)
- Cart Abandonment Rates: -65%
- Conversion Rate per Send: +342%
By partnering with LTV.ai, GhostBed was able to:
- Drive an incrementally significant improvement in their repeat purchase rates, customer engagement, and by extension, their owned channel performance.
- Hold hundreds of AI driven conversations with customers over Email, to answer questions and offer specific product recommendations, which accounted for 12% of the total purchases driven.
- Reduce their cart abandonment by 65% on this cohort, as LTV.ai's emails ensured customers were well informed and ready to make a decision by the time they got to the site.
"LTV.ai's AI driven approach allowed us to achieve what seemed impossible - driving significant full-price sales right before Black Friday, adding tens of thousands to our bottom line."
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