The ConvertWay by Shipway
The e-commerce landscape thrives on innovation and a constant race to stay ahead of the curve. With rising customer acquisition costs and an increasingly competitive market, brands are constantly seeking out new ways to enhance the customer experience, drive conversions, and foster brand loyalty. In this dynamic environment, Shipway Technologies, a leading logistics automation company established in 2015, has unveiled its latest offering this year: The ConvertWay.
The ConvertWay by Shipway is the brainchild of Mr. Gaurav Gupta and Mr. Vikas Garg, founders of Shipway. Their shared vision and complementary expertise led to the creation of Shipway.
Intrigued by how The ConvertWay leverages first-party data and gamification to drive conversions? In this exclusive interview featured in “The Most Innovative Tech Company To Watch 2024” edition, we delve into the minds of the founders of The ConvertWay. Stay tuned to glean their insights and life lessons for building a thriving business in the ever-evolving e-commerce world.
Prime Insights: What inspired you to start your tech company?
The rising cost of customer acquisition, especially with reliance on unreliable cookie-based data, is a major pain point. In logistics, we handle millions of orders monthly, generating massive amounts of valuable first-party data. We saw an opportunity to leverage this data to help merchants segment their audiences and personalize the customer journey. By analyzing buying patterns and behaviors, we can help reduce customer acquisition costs and improve return on ad spend (ROAS).
Prime Insights- What were the initial challenges your business faced?
Early on, building a one-stop solution for DTC brands was tough. Many struggle with customer engagement and retention. You need a system to remind people to reorder. Manual reminders are impossible, so automation is key. This focus on retention, conversion, and personalized engagement through data is what sets The ConvertWay apart. This strong data foundation allows for effective marketing campaigns across SMS, WhatsApp, and gamified experiences. We then analyze these campaigns to optimize performance and reduce costs, ultimately maximizing ROI.
Prime Insights- How does your brand define “innovation” in the market? What makes it unique?
Our secret weapon is first-party data. We use it with cutting-edge AI, like generative AI, to create micro-segments and personalize the customer journey. This lets us automate capturing buying behavior and identifying drop-off points. Imagine someone browsing our website; we can see when they’re about to leave and nudge them back with a personalized message, boosting sales.
Prime Insights: What are your key offerings (products, services, or solutions)?
Our core offerings help D2C merchants thrive. First, we convert website visitors into paying customers. Second, we use smart segmentation based on our data to personalize the buying journey. Finally, we boost engagement and conversions, helping merchants achieve a 40% conversion rate from existing buyers and a 5x return on investment from their marketing campaigns.
Prime Insights: In an age of rapid technological change, how are consumer expectations evolving regarding innovation?
Consumers crave innovation that boosts conversions. They expect unique solutions, not just rehashed technologies. Our focus is on inventing new flows and experiences to achieve this. Ultimately, they want lower customer acquisition costs and stronger buyer relationships. Conversion and retention are important, but fostering a personal touch is key to building brand loyalty and long-term recall.
Prime Insights: How did you establish your company’s reputation in the tech industry and gain customer loyalty?
Since day one, Shipway has been a customer-centric company. We have a dedicated team that actively listens to feedback. We personally connect with D2C brand founders and leaders to understand their needs and challenges, both with our product and in the broader market. This allows us to develop solutions that address their pain points and meet market demands. Furthermore, we’re committed to providing exceptional support to all our clients, regardless of their size. Everyone receives the same level of dedication from Shipway.
Prime Insights: What does customer satisfaction mean to you?
Customer satisfaction, for me, boils down to truly listening and understanding their pain points. As a tech partner, we believe technology can solve anything. Our solutions shouldn’t be band-aids; they should provide permanent fixes and anticipate future needs. Focusing on long-term improvements ensures we’re solving problems for years to come. The ultimate satisfaction comes from hearing our clients say our solutions helped them achieve their goals, whether it’s increased ROI or overcoming a specific challenge. There’s no greater happiness than knowing we listened and delivered value.
Prime Insights- How well are your clients connected with your brand, and what strategies do you use to maintain these connections?
Our dedication to customer satisfaction starts with dedicated account managers for every client, regardless of size. We prioritize clear communication; you can always reach your account manager directly. Forget impersonal ticketing systems; we offer immediate support by phone. Furthermore, we’re committed to proactive solutions. If a client encounters a common issue, we develop a fix that benefits multiple clients, ensuring a swift resolution and a commitment to exceeding expectations.
Prime Insights: What are the most effective marketing initiatives or programs you have used to promote your innovations?
Our success hinges on word-of-mouth. Satisfied clients recommending our solutions and support fuel our growth. We foster this by building a strong D2C community where positive experiences spread organically. Additionally, we host knowledge-based webinars led by industry experts, which tackle common pain points and raise brand awareness. This one-two punch of exceptional service and market education creates a buzz that translates to new clients.
Prime Insights: How do you measure the impact of your innovations on consumer trust and satisfaction?
We measure success by two key metrics: low negative feedback and a low churn rate (around 5-6%). This tells us our clients are happy and using our solutions for the long term, indicating high customer lifetime value and a strong commitment to meeting their needs.
Prime Insights: What’s the first thing that enters a consumer’s mind when they think of your brand?
When it comes to brand perception, I hope customers think of us as three things: First, a company that prioritizes customer success. Second, a provider of exceptional support, regardless of client size. Finally, a one-stop shop for D2C brands, offering everything from pre-purchase marketing automation to post-purchase logistics and communication. We understand that small businesses and startups can’t afford to have multiple tools and support teams, so we offer a comprehensive solution with a single point of contact. This simplifies their operations and allows them to focus on what they do best.
Prime Insights: What are your future plans for continuing to innovate and grow your brand?
Our future is about building a complete D2C ecosystem. We’re innovating to offer everything brands need on one platform, from marketing automation to logistics. This one-stop shop will empower D2C merchants to thrive.
Prime Insights: What advice would you give to aspiring tech entrepreneurs and marketing mavericks?
For aspiring entrepreneurs and marketing mavericks, my advice is simple: master the fundamentals first. Truly understand your customer’s pain points. Don’t chase after creating something entirely unique; focus on solving those core needs effectively. Listen intently to your target audience; they’ll guide you towards building solutions and shaping your brand positioning. By constantly engaging with your customers, you’ll gain invaluable direction for innovation and future success.
Prime Insights: What are your thoughts on the current state of the tech industry and future trends?
The tech industry is a whirlwind of innovation. To stay relevant, we can’t afford to be stagnant. We need to constantly evolve alongside emerging trends, whether it’s AI or the latest tech buzz. Customers trust companies that keep pace. That’s why The ConvertWay by Shipway Technologies is built to be future-proof. We target the ever-evolving e-commerce landscape, ensuring our solutions stay ahead of the curve and our clients remain competitive.
