DALLAS--(BUSINESS WIRE)--Shop.org Annual Summit – Booth #1121 – OrderGroove, a pioneer in continuity programs that deliver real value to consumers and retailers, today unveiled its RetentionEngineTM Platform, a revolutionary new SaaS-based subscription solution that allows online retailers to successfully compete on convenience to lock in customers, drive repeat purchases and increase the frequency of those purchases. Through the RetentionEngine Platform, retailers can now easily offer shoppers the opportunity to turn any purchase into a subscription or club that the customer has complete control over and that is managed within a shopper’s existing account. By focusing on retention and sustained customer value as the areas where margins are made, OrderGroove is able to significantly boost revenue and simultaneously increase cost savings for retailers who are struggling to get more out of the billions they spend on customer acquisition (search, social, mobile) each year.
“We’re proud to offer a new kind of technology platform coupled with optimization expertise that focuses on building customer retention through convenience and ease of use,” said Greg Alvo, founder and CEO of OrderGroove. “With the holidays around the corner and with all the marketing dollars being poured into the next big acquisition tactic, it is the optimal time to lock in customers for 2011 and spread those dollars across incremental transactions. We’re seeing the industry’s focus begin to shift towards retaining customers for the long term by allowing retailers to compete on convenience and giving customers complete control over their subscriptions.”
Market Opportunity: The Rising Power of Convenience
Retailers spend billions chasing customers that slip away after a single purchase, and online consumers are notoriously fickle and price-driven. Recent data from the ChannelAdvisors 2010 Consumer Shopping Habits Survey indicates that brand loyalty is in sharp decline with low prices and free shipping acting as the #1 and #2 influencers on purchase decisions this holiday. Two out of three consumers stated that they would purchase an identical product from an unknown website if it offered a better value.
OrderGroove’s subscription platform goes beyond brand loyalty and taps convenience to retain customers, increase lifetime value, and ensure that customers don’t defect at the last minute to a competitor who might be offering a better promotion. Online subscription programs have evolved with industry leaders such as Amazon.com to become more broadly applicable to various types of retailers and deliver better value to retailers and consumers alike.
OrderGroove takes the next step in the convenience revolution by putting the power of next-generation subscription programs in the hands of every retailer. The RetentionEngineTM Platform is architected from the ground up to deliver a full range of benefits to retailers – from immediate sales lift to increased average order value with impulse purchase opportunities. OrderGroove also supercharges the customer experience by putting power back in the hands of the shopper with total control over delivery schedules, including the ability to accelerate, skip and cancel subscription orders within the retailer’s online store. Already, retailers in areas as diverse as apparel, beauty, groceries, office supplies and sporting goods are looking to OrderGroove as their path to ecommerce success.
The OrderGroove Solution
OrderGroove’s RetentionEngine Platform is the first and only SaaS-based platform that revolutionizes continuity programs while delivering retailers the revenue lifts they need. On average, retailers using OrderGroove are able to drive 3x more purchases annually with subscriptions versus standard orders with the pioneering solution that features:
- RetentionEngine Subscription Platform: Drive continuity by converting buyers into subscribers.
- Continuity Optimization and Analytics: Leverage robust dashboard and aggregate intelligence to drive customer behavior and provide real-time data on impact of continuity programs.
- Point of Sale Applications: Maximize lifetime value with point of sale impulse buy tools.
- Fast Implementation & Dedicated Launch Team: Enjoy rapid deployment with minimal resources.
- Retention Expertise: Unlock the true potential of OrderGroove’s Platform and continuity with a dedicated team of Retention ExpertsTM, who are focused on ROI and constant innovation.
How It Works
OrderGroove makes it easy for retailers to promote, test and optimize subscriptions anywhere on their site, such as adding a simple call to action on a product order page that promotes a subscription option with an offer that is iteratively tested to deliver optimal results. The entire experience is seamless to consumers – who interact solely with the retailer’s own site, own shopping cart, and own brand – and all subscription information (next delivery date, frequency, customer information) is immediately accessible through a client branded “My Subscriptions” tab in the retailer’s own account page. The content, which is hosted by OrderGroove, gives clear options for changing a delivery schedule, including accelerating orders, skipping orders or opting out of a subscription. OrderGroove also sends email notifications for key events such as subscriptions started, order reminders, subscriptions canceled, items added to upcoming order and more – so that a customer is always in full control of their subscriptions.
The OrderGroove solution is immediately available today. For more information, please contact firstname.lastname@example.org.
OrderGroove is a pioneer in continuity programs that deliver real value to consumers and retailers. The company’s revolutionary SaaS-based RetentionEngine Platform allows retailers to tap the power of convenience to turn new and existing customers into repeat buyers – dramatically increasing sales, building customer retention, maximizing lifetime value, and slashing customer defection rates. The company is privately held and headquartered in New York, NY. For more information, please see www.ordergroove.com.