In the bustling realm of online retail, an online bookstore faced significant hurdles from November 2023 to May 2024. The store, offering both physical and digital books, had experienced stagnation in sales, despite a robust catalog of over 50,000 titles.
The primary challenges included a saturated market, diminishing organic traffic, high bounce rates, and low conversion rates. Monthly traffic hovered around 150,000 visitors, yet the conversion rate was a dismal 1.2%, resulting in just 1,800 monthly sales. Furthermore, the average order value (AOV) stood at $25, insufficient to achieve profitability given the rising customer acquisition costs (CAC), which had escalated to $15 per customer.
Additionally, the company’s search engine ranking was declining, with their website slipping from the first page of Google search results for critical keywords. Competitors were leveraging advanced SEO strategies and aggressive advertising campaigns, leaving the bookstore struggling to maintain visibility.
Customer engagement was another critical issue. The email open rate was a mere 12%, and the click-through rate (CTR) was below 1%. Social media presence was lackluster, with minimal interaction and engagement, leading to negligible referral traffic from these platforms.
Recognizing the dire need for a strategic overhaul, the company partnered with a leading marketing and advertising agency. The goal was clear: to revitalize the brand, boost traffic, enhance customer engagement, and ultimately drive sales growth.