If you work in e-commerce, listen. You will know that technology is constantly changing and moving fast. Some of these software providers have grown out of their niche and are now operating in saturated markets. There are thousands of marketing platforms, but Moneverts solves a specific problem that many retailers and brands are trying to solve. How can you lower your cost per acquisition while increasing online sales?

A quick way to do this is to restore abandoned shopping carts on your website.

On average, 70% of customers who visit your website and enter it in a shopping cart give up on it. These are customers who have shown a particular interest in buying from you, but for whatever reason, a doorbell, shipping costs or your favorite show starts, you give them up and close your screen.

Remarketing is more critical than ever for e-commerce retailers today, perhaps even more so than for any other type of online business or advertiser. If you're not addressing people who were about to cross the border, you're effectively limiting yourself to just trying to get visitors to convert, and that would be in one session – an almost unimaginable feat in that today's multi-session. Device and online environment.

WHO ARE MONEVERT?

UK-based Monevert is a humble technology startup and marketing company with people who are experts in their industry. They offer a fully managed service that was very audible. You can work together during the consulting and implementation phase and advise on best practices for retargeting your customers. Think of it as an outsourced team of specialists and work hard to bring more sales to your company.

The software platform itself was developed by its internal technical team. It is a multilingual marketing tool that is used specifically to increase online sales by up to 30%. This is done through live data collection on your website and then using email and SMS messages to bring customers back to their abandoned shopping carts and to compete with them.

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HOW DO YOU RECEIVE YOUR CUSTOMERS?

Monevert is an intelligent solution with many functions with which teams can communicate in a targeted and effective manner. The software can be integrated into leading e-commerce platforms and its optimized funnels are quickly activated as soon as a customer creates an online shopping cart.

The target group of retailers can be so different that a single message would never work. Monevert's powerful segmentation and playbook capabilities enable you to deliver more targeted messages to your prospective and current customers for more sales and brand loyalty.

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WHAT ARE THE KEY FEATURES?

Data acquisition

The Monevert tech team has managed to create software that captures data live when customers enter key fields in their shopping cart. This can then be used to aim again almost immediately. Competitors can aim again via email if they have registered but do not offer an option to check out guests. This is one of the main causes of the abandonment of the shopping cart. About 14% of online shoppers said that forcing them to complete a purchase was a sufficient reason for them to cancel the process. However, Monevert can continue to address these customers.

Global SMS and email coverage

They are marketed via email and SMS, which are available worldwide. It can be integrated into SMS and email providers and the SMS tariffs are even included in your contract! All messages can be tailored to your products and brands and highly optimized.

It is multilingual

Okay, one of the things that I think makes money different from any competitor in the market is the use of multilingual technology. All messages can be translated by your mother tongue support team for your target audience. When a user visits your online store, they can recognize the country and send messages in their own language. It's been proven to increase conversion, and I'm not sure if there is any other solution that offers this feature.

Bespoke playbooks

This is where the product and service prove themselves. Intelligent segmentation means you can literally create hundreds of bespoke playbooks that cover everything from customer profiles to order values ​​to specific product SKU codes.

reporting

With their reporting and analysis module, retailers can assess which campaigns and playbooks are most effective for their company's goals. Every communication includes performance metrics to improve the customer experience and deliver valuable insights. Monevert makes these available monthly and can then make suggestions for improvements based on the market and their experience across the board.

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WHO WOULD BENEFIT FROM USING MONEVERT?

I would say that if you have an e-commerce business with annual sales of over £ 1m, it is definitely worth talking to. Assuming that your shopping cart's abandonment rate is industry standard (70%), you could lose £ 2.3m left over without a purchase. Monevert can recover up to 20%. There are many reasons why customers give up carts, but with Monevert play books you can fight almost all of them.

If you use WooCommerce, Shopify or Magento 2, this is an added bonus as the software is plug and play ready almost immediately and the trolleys can be restored instantly.

Professionals

1. Monevert has an internal team that takes care of everything

2. You can collect data faster than competitors

3. Your results are well above the industry standard

4. It is fully customized so that you can customize and improve communication

5. They can be integrated into leading e-commerce platforms, making implementation easy

6. The pricing model is based on commissions, so they work hard for you

disadvantage

1. It can be more expensive than standard solutions like Klayvio or MailChimp

2. They are currently fully integrated into WooCommerce, Shopify and Magento 2, but for all others they have to create an integration that can take some time

3. While designing the playbooks, you need to invest some time to work with them and develop your email design and text messaging templates

My verdict

I like the fact that it is a Manged Service. Having someone who specializes in something is a big bonus, rather than buying a plug-in or a standard solution. Their pricing is a CPA model, so they take a percentage of what they recover. This is good to hear because I think they will work harder for an e-commerce company as it is in their best interest.

When they spoke to my contacts in the e-commerce sector and talked about other market participants, they were surprised by Monevert's proven results and the larger retailers were thrilled with the multilingual and global functionality.

Treat them as advice that brings you a significant return on investment from day one and definitely increases sales.

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Customer testimonial

Med One Solution Ltd.

Christian Tremmel -> Marketing Manager

“We have been using the Monevert application since November 2019. When Monevert contacted us, we were already using a demolition truck solution, so we were skeptical that it would add great value to our business. We ran it on a trial basis. We literally didn't have to lift a finger other than to install a plugin on our WordPress sites and add our credentials. The Monevert team designed our email, SMS and call center playbooks and integrated them into the call center services. We never looked back. We get an average of 17% conversion across 6 websites. We achieved an average of 8% conversion with the previous marketing solution. In financial terms, this means an additional turnover of EUR 73,000 per month compared to our previous solution. Overall, we achieve additional sales of an average of EUR 143,000 if there was no solution at all. The user interface could be a bit refined, but our business manager is very responsive and can always answer any questions we have. It is a pleasure to work with him. "

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