How We Helped The Stockplace Double Their Year-Over-Year Revenues

The Brand & Their Challenge

The Stockplace is a women’s apparel boutique founded by two amazing women. After several years of success curating and launching dozens and dozens of new product launches, both founders were looking for relief from the daily pressures of such a demanding business model.

The business was particularly strenuous when it came to the marketing requirements of launching so many new collections and maintaining a strong customer retention rate. The founders of the Stockplace were looking for help in creating systems and processes to streamline their marketing ops and expand their customer acquisition channels.

Here’s how we were able to help the Stockplace double their year over year revenues.

Our Solution

Building a High Converting Website

First, we helped the Stockplace re-launch their website with dozens of new features and a brand new design. A few mentionable updates included helping customers to find the styles they were looking for easier, quickly determining if the items they wanted would fit correctly, showcasing user-generated content and reviews as often as possible and collecting customer emails & phone numbers.

We built custom features that would allow the brand to feature try-ons and short-form video of each style in a mobile-friendly way on each product detail page.

We also simplified the domain after taking a page out of Sean Parker’s playbook from the Social Network and dropped the ‘the’. We updated it from ‘shopthestockplace.com’ to ‘stockplace.com’. It was definitely cleaner.

Lifecycle Marketing

Our team knew that if we could acquire a new customer at a breakeven CAC, the repeat purchase potential to drive customer lifetime revenue would be where we could drive growth in profits.

To accomplish this, we built the brand new email and sms flows and an entirely new campaign & promotion strategy. We increased pricing, but offered loyalty discounts to ‘VIP’ customers like free shipping, cash back and buy more save more options.

Additionally, we introduced a brand new mobile shopping app that would allow customers an easier browsing experience. Coupled with the new app launch, we fostered a stronger community within the brand’s top customers by going live once per week. In these live videos, customers could actually shop right on the mobile app and buy the items they were viewing on the live video. The founders would try on new product releases and give discounts to customers who purchased directly on the live video.

We also then would feature snippets from the live videos on social media, including paid ads, as well as on the website.

All in all, we were able to significantly increase the average order values and lifetime customer revenues across the board. Repeat purchase rates also increased, but the clearest win for us was that customers were now coming back to make a second purchase much sooner than before.

Customer Acquisition

This brand faced some unique challenges when it came to new customer acquisition. Because of how the business model was structured, the brand had a lot of SKUs, but very few units in stock for each item. For example, they might have 50 different dresses of various cuts and colors available, but only a handful of each size on hand. 

This made running consistent advertising campaigns difficult. As soon as an ad on Facebook found traction, they were quickly out of stock of that particular SKU. 

In order to grow consistently, we fostered two levers;

1. Urgency: Creating a sense of urgency to buy because of low inventory levels - while also building a strong operation around restocks and pre-orders
2. Creator Partnerships: Working with creators to leverage their existing audiences to get the awareness we needed, centered around a big launch with lots of ‘hype’ leading up to the release

Creating a Sense of Urgency

Because of the limited supply of inventory in each size for a given SKU, we relied heavily on testing new products and then working on trying to quickly restock them to keep up with demand.

To make this a function of our marketing strategy, we introduced a lot of functional ways to drive pre-orders, and pre-authorized purchases for restocks. Through the mobile app and custom features on the website, we were able to not only allow customers to sign up with their emails to be notified of a restock, but also to pre-authorize their purchase with a credit card for when (or if) the item was restocked. This created a sense of urgency to buy quickly when we launched new items on the website or the mobile app. Customers knew that the demand for the Stockplace’s styles was high and this created a ‘feeding frenzy’ when we launched new collections.

Working with Creators

Additionally, because paid advertising was so difficult, we relied heavily on having a successful launch day when we introduced new collections to the catalog. 

To maximize the hype and awareness of each launch, we fostered close relationships with creators who resonated with our core audiences on platforms like Instagram and TikTok.

We partnered with these creators to help us curate a collection of items that they thought their followers would love. Then we would release the collection together in a co-branded way - appealing to both their audiences and our customer base.

We’d often run white-labeled ads on Meta, showcasing the products with the creator wearing each one. Additionally, we’d offer their audience a way to sign up for early access to the launch, giving us a way to collect emails and phone numbers, which would then convert at a higher rate.

By working with these creators to co-launch new collections, we were able to significantly increase our average sales for each new release.

Results

Overall, sales for the Stockplace more than doubled year over year since we began working with them. If you’re interested in working with our team, don’t hesitate to reach out!

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