When Traditional BI Isn’t Enough
Calling the eCommerce and retail industries competitive is an understatement. Facing competition from a fragmented market as well as massive companies, Charlotte’s Web needed a steady stream of insights from their data to get an edge.
With so many products, subscriptions and packaging options paired with a robust ecommerce platform, Charlotte’s Web recognized the need to embrace their data complexity in order to reveal insights that were immediately actionable — and they needed them on a weekly basis.
Without the luxury of employing hundreds or thousands of data scientists, Charlotte’s Web turned to Unsupervised to embrace their eCommerce and customer data from Adobe Magento and Adobe Analytics to identify better ways to engage customers and increase Customer Lifetime Value (CLV). Charlotte’s Web wanted to make sure the insights were used in a way that served their customers wellness experience to their mission.
Turning Insights to Actions
In just a few weeks, Unsupervised surfaced granular insights about their customer’s purchasing behavior to the Charlotte’s Web’s team without requiring a massive investment in data preparation and management. Unsupervised’s AI sifted through Charlotte’s Web’s complex data, spotlighting the patterns most relevant to their KPIs (increasing CLV through retention rate across 5 categories of products).
Unsupervised found over 50 previously unknown insights and more than 10 had immediate, actionable implications for the Charlotte’s Web ecommerce team. They’ve continued to identify new patterns about product usage, reorder frequency, and cross-category customer retention that has allowed their business to thrive.
These insights best served the Charlotte’s Web organization, helping the team better serve their family of customers. As part of their mission-driven approach to business, the team’s first goal is to serve their consumers and provide the best possible experience with their botanical products. Secondarily, the team identifies opportunities to optimize their limited resources.
An example of this optimization of resources resulted from one pattern’s actionable insight: it resulted in increased customer engagement and revenue. Unsupervised identified a customer usage pattern for a particular product that wasn’t featured heavily in marketing materials. By creating a promotional cadence targeted at this customer segment based on the specific product, usage timeline and promotional receptivity, Charlotte’s Web drove additional six-figure revenue within a month.
One pattern Unsupervised identified resulted in additional six figure revenue within a month.
New Promotion Strategy for a Key Sales Weekend
In preparation for a key sales weekend in Q3 2020, Charlotte’s Web used the Unsupervised platform to inform its segmented customer engagement and promotional strategy. Charlotte’s Web identified an opportunity to cross sell a category to a buyer of another category. If it worked, it would not only improve the consumer’s CBD experience but Charlotte’s Web would also recognize an higher CLV. The team used insights gleaned from the data to target highly specific promotions to customer segments to drive repeat purchases.