Retention Grid

Opportunity Mining. Automated Selling.

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Opportunity Mining. Automated Selling.

1 follower

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Retention Grid

Maker

Hi, I'm Kevin Dykes, CEO of RetentionGrid. I'm thrilled to have the chance to discuss what we're doing and where we're headed. As we have historically gone to market via e-commerce add-on marketplaces (such as Shopify), so you can learn more about us here as well. https://apps.shopify.com/retenti...

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12yr ago

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Hunter

The ecommerce holy grail. Let's see if @kdykes will jump into the conversation.

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12yr ago

Retention Grid

Maker

@BlendahTom I'm in, thanks!

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12yr ago

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Hunter

@kdykes sweet. Tell us a bit about why you guys set out to solve this problem. What type of ecomm stores are best fits?

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12yr ago

Retention Grid

Maker

@BlendahTom We began RetentionGrid with a mission to SMB e-commerce businesses to be able to utilize the massive amounts of data they have, but in an understandable and affordable way. We began last year in March working with merchants using the Shopify platform. We've since launched on BigCommerce, Tictail and released an API this year for shops on other platforms. During that time we've grown to work with over 4500 shops in 55 countries - in all types of verticals.

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12yr ago

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Hunter

@kdykes any notable wins that you could share with us for your customers?

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12yr ago

Retention Grid

Maker

@BlendahTom One of the most interesting things we've learned is what we refer to as the one-time buyer problem. Across over 5 M consumers around the world, on average we see that only 19% ever make a 2nd purchase. This is a real challenge for these online merchants since the cost of acquisition is going up and the margin on first purchase is often quite low due to discounts offered. But, our data also shows that if a customer makes a 2nd purchase, their likelihood of buying a 3rd time doubles, likelihood of a 4th purchase triples , average order value increases and interval between purchase decreases. So, our mission begins by helping our customers address that one time buyer problem.

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12yr ago