How to Monetize Partial Consumer Data
The health & beauty and weight loss niche are always going to make a lot of money — especially now that there are plenty of white label and fulfillment companies in the world today. In short, it’s easy for anyone to start up a new branded product of their own and all they need to do is get a fulfillment company and put a solid marketing plan in place.
Once all of this is done, it’s time for you to figure out how long you can keep a customer happy while also keeping them on your recurring monthly billing as a new product is shipped to them each month. When the product is quality, it’s an effective business model.
Turning Lost Customer Data into New Signups
What’s also been very effective for advertisers and brands creating their own products, is the management of customer data and trying to squeeze out as much profit as possible per lead — more specifically, the data that might be provided when a customer starts to fill out your order form, but drops off and doesn’t complete the order, also known as “shopping cart abandonment”.
Knock out your costs and increase ROI by monetizing your partial consumer data
Here’s a typical example that commonly happens online:
- You run an ad campaign for your product (costing you money)
- Someone comes to your site and clicks on the order/free trial form
- The visitor fills out their personal information and clicks submit
- The visitor is now on the payment page and decides to leave your site
In the past, or unless you have a quality system in place… this lead would be lost and you would have spent money on nothing.
However, since that initial contact data was collected, it could then be used as follow up information to see if that potential customer can be contacted to complete the process.
This is where a company called Adpire and their call center comes in.
Our US based call center specializes in monetizing partials in the Health and Wellness and Beauty Space. These abandons – that is, customers who have expressed interest in your products but have not successfully completed a transaction are taken in through our API, we are able to call on your leads as they come in…usually within 30 minutes! This allows us to maintain industry leading conversion rates and maximize revenue for our partners.
Data collected from Adpire’s collection of clients and partners shows that their contact rate is about 35% and conversion rates are at 20%. When backed out into heavy volume and in terms of additional earnings, you can see from the chart below that you could be earning an extra $1,000+ per 1,000 uncompleted leads. (which can definitely add up if you are pushing heavy volume)
Adpire is currently working with healthy & beauty and weight loss lead generation companies of all sizes and this process is done on a rev-share partnership. Payments are sent out on a weekly basis and partners will have full access to real-time reporting through their admin area.
If you aren’t currently monetizing your partial consumer data, how much money are you leaving on the table?
Wait... before you leave, consider these top resources: