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How we helped the fast-growing women’s footwear brand grow its revenue by 25% by setting up the right performance marketing, retention and product placement practices

Client

About the Client

CAI is the brainchild of Aradhana & Dhanraj Minawala, two entrepreneurs who dared to take an unprecedented business stride, and shaped an extraordinary trend in the footwear industry. The CAI store was launched in 2015 with the sole purpose of providing non-leather footwear locally and globally to the trend-conscious at affordable prices.

The CAI Store has served more than 2,00,000 happy customers to date and has grown sixfold since March 2020.

Website: https://thecaistore.com/

Problem

The founders (Dhanraj Minawala and Aradhana Minawala) aimed to substantially increase their website revenue, emphasizing the necessity of devising an effective model for both performance marketing and demand planning.

Project Timeline

October 2022 - September 2023

Project Title

How we helped a fast-growing women’s footwear brand grow its revenue by 25% by setting up the right performance marketing, retention and product placement practices

Approach and Findings

Zeroing upon the problem statement

We went through a series of interactions with the management team to identify the various bottlenecks and challenges in each function such as performance marketing, social media, retention practices, website product placement, and demand planning. We also analysed the data for each of these areas to understand what has worked and not worked for us in the past.

Bucketing of problems/challenges

We bucketed the issues into two broad categories viz. strategic and efficiency improvement areas and defined priority for these changes to be affected.

Roadmap Planning

Based on the findings and priority, we decided to improve the performance marketing function, followed by website positioning and demand planning. We also decided to amp up the retention capabilities by using a more data-intensive tool for the same.

Work Done

We delivered the following during the project:

We delivered the following during the project.

1. We analysed data for styles that were liked by people and past performance of the styles to understand performance considering parameters such as sale periods, seasonal trends, geographic trends, age of the style and availability of similar styles with other players.

2. Based on the analysis we bifurcated the products into different buckets such as products to be put on ads, discounts, marketplaces, and so on.

3. The performance marketing budget was then split into categories with allocated budgets and distinct targeting.

4. A thorough audience analysis of the past 12 months to understand the performance of different categories of products for different audiences and bucketed audiences for product categories in a way that they do not compete with each other.

5. Continuously optimised performance marketing by monitoring the performance of styles after pushing the same on ads and also through continuous analysis of performance and styles.

6. Based on the performance of different styles we planned the styles to be re-stocked and styles to be phased out. We also helped the design team in planning the demand for upcoming styles based on different product attributes.

7. Planned different sale periods and new product launches to amplify the reach and achieve record sales numbers during such periods.

8. Suggested content ideas to help build the brand further and increase revenue through social media and organic reach.

9. Designed the integration framework for a data-intensive tool for retention. This tool will enable CAI to have a deeper understanding of customers and help in the personalisation of communication with customers. This tool is now ready to go live.

Outcome

The CAI Store was able to achieve a growth of 40% in website revenue with an increase of 15% in their marketing budgets. They were on the verge of reaching their target Cost of Acquisition and ROAS (Return on Ad Spend) levels for their marketing spends. Over the project span, they were able to reduce their overall inventory levels and inventory in slow moving / non-moving styles thereby freeing up working capital.