Gift Market

Client Story

At A Glance

Customer-centric digital transformation

28%

Decreased cost per lead acquisition by 28%

42%

Revenue increased by 42% YoY

About Gift Market

Gift Market is a Singapore-based startup founded in late 2013. They are dedicated to digitizing and improving the corporate gifts industry, and committed to making the experience of shopping for corporate gifts a more pleasant experience.

About Gift Market

Gift Market is a Singapore-based startup founded in late 2013. They are dedicated to digitizing and improving the corporate gifts industry, and committed to making the experience of shopping for corporate gifts a more pleasant experience.

The Challenges

Closing, Retaining, + COVID

Prior to engaging Brew, the Gift Market team was simply operating as an order taker. They were little more than a vendor who took and fulfilled corporate gifting orders. On top of struggling to close and retain customers, COVID-19 emerged.

Returning Customer Rate Less than 1.2x

It’s common to get repeat customers, especially when the order is fulfilled well. But Gift Market was failing to forge relationships with their customers – leading only 20% of them to repurchase the next time they needed corporate gifts.

COVID Impact on Corporate Gifting

The COVID-19 pandemic slammed the corporate gifting industry hard – leading to a devastating 50% dip in revenue. They needed a solution to continue serving customers during the pandemic if they were going to rebound.

Lead-to-Customer Close Rate Only 20%

In the corporate gifts industry, a lead-to-close rate of only 20% was very low. Very low in this industry – it’s common to get repeat customers. If Gift Market was going to grow, they would have to close deals more efficiently.

Comprehensive Transformation

Gift Market knew they needed to transform the way they do business if they were to survive and grow their revenue over the next year.

The Solutions

Shifting to a Customer Centric Approach

After sitting down with the Gift Market team, familiarizing ourselves with their company, getting to know their customers, and hearing their challenges – we agreed they needed a big transformation. They needed to move from being “order takers” to being a customer-centered brand that forged deep relationships with loyal clients.

We worked with them to put together a bold plan of action, that began with a bold transformation:

Restructuring the Sales Team

We worked with Gift Market to improve business development by allowing their BDR’s to focus on a certain segment of business. We organized them into a few sales teams based on order size and company vertical.

Defining the Customer Lifecycle Journey

Gift Market had no clear or direct journey for their customers. Defining specific stages and putting language to next steps dramatically improved the way marketing and sales handled and nurtured leads.

Implementing a CRM to Build Better Relationships

Gift Market’s sales team had no idea if another team member had talked to someone from a company before. With the help of Salesforce, management received improved transparency on salespeople and were able to provide more pointed coaching. In the process we improved their closing rate from 20% to 40% within months.

In-Depth Persona Research

We interviewed a number of Gift Market’s customers to learn more about their challenges, aspirations, purchasing behaviors, and much more. We developed customer profiles that would guide our campaigns and help their team better connect with potential customers.

Redefining Their USP

In talking to the Gift Market team, we realized they needed to refresh their USP (Unique Selling Proposition) in order to differentiate themselves in a crowded market. It needed some clarity to better resonate and build confidence with their customers – and to help their sales team communicate it more clearly.

Email Marketing Automation Through Pardot

To better connect with customers and grow brand loyalty, we put together two automated email sequences:

  • Welcome Series – We wrote seven emails focused on telling the Gift Market story and clarifying what makes them unique
  • MQL to SQL Sequence – We wrote five emails that would nurture MQLs by highlighting the benefits Gift Market provides, and encouraging leads to book a 15 minute video call

We activated these workflows in Pardot and connected them to Salesforce to keep marketing and sales on the same page.

Driving Leads for COVID Care Packages and Christmas Packages

In an effort to identify unique ways to grow their customer base during COVID, we worked with Gift Market to come up with the idea for COVID care packages. This was a game changer, as Gift Market was the first to roll out an offering like this during COVID, allowing companies to encourage their employees and keep morale high. In addition to COVID care packages, we also worked with the team to create Christmas packages this year as well.

We ran a successful ad campaign for these new products that generated hundreds of quality leads each month and decreased their cost per acquisition by nearly 30%.

The Results

Bouncing Back from COVID

Our work with Gift Market led to a 42% YoY increase in revenue and a 28% decrease in cost per acquisition. On top of that, we helped them revitalize their business through digital transformation and a fresh focus on customers.

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BREW INTERACTIVE

Digital Marketing Agency in Singapore

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111 North Bridge Road, #08-11, Singapore 179098 info@brewinteractive.com

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