Within a year, Estée Lauder's The Cosmetic Company Store Brand was responsible for bringing in an additional $1.8 million in revenue using a Solution for Next-Generation Mobile Commerce.
Textual, a leader in the mobile commerce market and the developer of a text to buy platform, announced today that Estée Lauder Companies has generated $1.8 million in new revenue with a 98x return on investment (ROI) in the first year of text to buy campaigns with Textual. This was accomplished through the use of Textual's text to buy platform, which Textual developed. Textual is the entity that made the announcement.
Because the Textual SaaS platform sends merchandise directly to consumers with a great deal less overhead than typical mobile commerce solutions, Estée Lauder's The Cosmetics Company Store was able to reduce the amount of money that it spent on marketing to only six percent of its total sales.
"Customers are still irritated by the number of steps it takes to make a transaction on a phone or tablet," said Blu Atwood, Co-Founder and CEO of Textual. "Even if the mobile commerce industry continues its exponential expansion, consumers are still frustrated by the number of steps it takes." "During my 14 years working in cloud communications and MarTech, I noticed a chance to improve the funnel and enhance conversions by providing customers with a text to buy option. Textual typically sees conversion rates ranging from 15 percent to 30 percent for companies like Estée Lauder. Textual makes the process of texting to buy simple on both the backend for our customers and on the frontend for consumers, so that everyone gets what they want, whether it's more sales or their favourite beauty goods.
According to eMarketer, over half of customers now prefer to communicate with companies using text rather than any other channel. This indicates that conversational commerce is swiftly gaining steam. However, the vast majority of conversational commerce solutions demand a high level of human interaction and call for sales representatives to hold frequent, brief exchanges with prospective consumers both before and after a sale is made. Customers are still need to click on a link that takes them to a preloaded shopping cart and proceed through many stages before reaching the checkout page.
The Textual platform takes use of the rising popularity of conversational commerce and does away with these time-consuming and expensive stages. Textual, on the other hand, allows a consumer to either reply to an offer in the form of a text message or directly request to buy a product using text. The purchase process may be completed in as little as one text, delivering a seamless customer experience. This is made possible due to the fact that shipping and payment information is securely kept in a tokenized vault.
Even the more conventional format of Daily Deals may serve as a viable example of a use case for texting to buy because the products, prices, and formats are all kept the same. The only things that are changed are the channel and the purchasing friction.
Textual is similar to email marketing systems in that it provides sellers with a self-service SaaS platform through which they can easily manage audiences, design and run automated campaigns, and track transactions. Textual marketing methods are similarly analogous to email marketing systems. Textual is also able to offer full-service help to third-party vendors that require further support. Text to buy also establishes a direct marketing channel to the end user, doing away with the requirement to use other marketing media such as commercials or websites.
Within a year, Estée Lauder’s The Cosmetic Company Store Brand was responsible for bringing in an additional $1.8 million in revenue using a Solution for Next-Generation Mobile Commerce.