Elegoo, a popular 3D printer retailer, has experienced phenomenal growth recently. And this has translated to very ambitious goals for 2023 and beyond, requiring new revenue streams and an excellent brand presence.
With the help of AfterShip Personalization, Elegoo has made significant strides toward achieving its goals. As a result, Elegoo has seen a 70% increase in average order value (AOV), 40x return on investment (ROI), a 6.4% conversion rate, and a 4.5% increase in total revenue.
Elegoo’s 3D printers provide the key to a new world
Elegoo has emerged as a significant player in the 3D printer space. With sales exceeding $100M in 2021, and a customer base that is passionate and growing, Elegoo is determined to reach higher levels of success. Once an OEM factory, Elegoo has leveraged its user-oriented approach and cutting-edge innovation to become a global player in the 3D printer space and own the mission of creating a new future with 3D printing. And while they have continued to scale up their operations, it has come with challenges.
Optimizing the shopping experience
While building out their Shopify-branded store, Elegoo wanted to find ways to enrich the entire purchase journey. They found that adding multiple tools to deal with only certain parts of the journey was time-consuming and negatively impacted site performance. "With such an ambitious revenue goal, we needed to find a one-stop solution that could help us convert more customers and increase AOV," says Elegoo's VP and Director of Operations, Kevin Wang. "We also needed a solution to optimize user experiences with Shopify Checkout Extensibility."
AfterShip Personalization is an official Shopify Checkout Extensibility partner. It aims to increase customer engagement and lifetime value by creating a unique purchase journey for each customer—leveraging AI to deliver thoughtful experiences for each individual. By selecting AfterShip Personalization, Elegoo is able to hyperdrive business performance without compromise.
Using Personalization to increase conversions
1. Driving higher AOV with smart algorithms at checkout
By employing 'Frequently Bought Together' at its checkout page, Elegoo empowers customers to browse bundles and supplementary products - boosting their Average Order Value (AOV) while they shop!
For example, Elegoo suggests resin for 3D printer purchases or encourages bundle deals for consumable items. Elegoo also uses the Smart Banner at checkout to enhance the customer experience by showing which products are unavailable so customers can avoid ordering them until they are restocked.
2. Using flexible merchandising rules to reduce excess inventory
Another way that Elegoo moves merchandise is by making it visible. Elegoo uses merchandising rules to pin clearance products to the top to clear excess inventory easily. AfterShip's powerful merchandising rule allows businesses to target specific audiences according to their goals and adjust recommendations for maximum efficiency.
This helped Elegoo optimize the recommendation results of underperforming products to increase ROI and cut excess inventory.
Monthly order volume
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3. Using subscriptions to fuel Elegoo’s future growth
Since there is so much competition in the 3D printer market, building a loyal customer base is essential to success.
By utilizing Personalization, retailers like Elegoo can easily connect with major subscription apps such as Recharge, Appstle, and Seal in just one click. This seamless integration allows for automatic synchronization of subscription selling plans from Shopify, which includes delivery frequency, discounts, billing policy, and inventory policy.
With the ability to create a subscription-based program, in the future Elegoo can offer exclusive deals and discounts on fast-moving goods, ultimately turning customers into loyal followers who drive recurring revenue.
After incorporating AfterShip Personalization, Elegoo took significant strides in achieving its revenue goals. There was a 4.5% increase in total revenue, conversion rates increased by 6.4%, AOV rose by 70%, and their customers experienced an enriched purchase journey from start to finish.
Looking forward, Elegoo can focus on what matters most—innovating with new 3D printing advancements and growing its business!