GRAYSONLINE

THE AV SEGMENT

GraysOnline is a prominent eCommerce auction platform locally based. Operating across various sectors, offering a wide array of products, from consumer electronics to industrial machinery, GraysOnline was established in 2000, becoming a trusted name in the online auction industry, facilitating the buying and selling of goods for both consumers and businesses.

 

PROBLEM OVERVIEW

GraysOnline, an eCommerce auction company, faced challenges within the high-end consumer AV segment of the business. The AV division was either breaking even at best or incurring a 10% loss.

Auction lots, on average, were valued at approximately $100,000 and occurred every fortnight. This presented a less-than-ideal situation as AV played a crucial role in the consumer ecosystem, and major vendors were losing confidence in GraysOnline's AV offerings, a significant pillar in the consumer section.

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THE
CHALLENGE

The challenge arose within the high-end consumer AV segment of the business. This particular sector was struggling to maintain profitability, often hovering around breaking even or even incurring a 10% loss. Compounding the challenge was the fact that the average auction lot in this category held a value of approximately $100,000 and occurred every fortnight.

This posed a suboptimal situation, as the AV segment played a vital role in the broader consumer ecosystem, and major vendors were losing confidence in GraysOnline's ability to effectively handle AV products, which represented a significant pillar of the consumer section.

THE
SOLUTION

  • Leveraging printed local advertisements in AV-centric publications, incorporating QR codes to streamline the path to the website, thereby leveraging our reach to customers.

  • Created landing pages for specific categories to enhance the customer journey and improve SEO, as these campaigns ran continuously.

  • Arranged product listings by least bids, ensuring the lowest prices were dynamically displayed first to enhance the customer journey.

  • Promoted the auction on-site, featuring cross-promoted products to improve SEO and capture audiences higher up in the funnel.

  • Implemented timed EDMs segmented by categories, targeting those in the consideration phase.

  • Published Facebook posts at the start of the auction and on the day of auction closure, emphasising a sense of urgency to encourage action.

  • Sent a second-to-last chance EDM to a segmented database, targeting those who had already bid on an AV item in this sale or others, with updated creative to create a stronger sense of urgency and win back customers with abandoned bids.

  • Cross-promoted the auction on other supporting EDMs.

  • Conducted comprehensive reporting on analytics, both wins and losses.

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THE
RESULT

Sales Surge: GraysOnline achieved remarkable sales growth, generating a total of $120,000 in revenue. This surge in sales not only surpassed the initial target of $100,000 but also demonstrated the effectiveness of the strategies employed.

Increased Page Engagement: The implemented actions led to a substantial 30% increase in visits to the website. This uptick in website traffic reflected heightened interest and engagement from users.

Extended Page Viewing Time: Users spent more time on the website, indicating enhanced user engagement and interaction. The extended page dwell time suggested that visitors were not only more interested but also exploring the platform in greater depth.

These results underscored the success of the initiatives taken to transform the AV segment of GraysOnline's business, reaffirming its position as a competitive force in the online auction industry.

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