It all started back in 2011, when...
As the CMO of a large player in online car insurance, I faced the challenge of improving conversion rates and customer retention.
To tackle this, I ran customer research and ran experiments on our website and acquisition campaigns. This got us a 36% incremental revenue within a year.
Inspired by our success, we developed a technology to help other eCommerce companies convert and nurture customers.
Valentin Radu, Founder & CEO
We founded a company with a team of four and a promising future ahead. Our platform was already live & kicking and already got our first paying customers. We've created the first CRO platform that offered A/B testing, surveys, and overlays under the same cockpit.
The adoption started to happen and the leading private equity growth and venture capital fund Catalyst Romania invests 1 million EUR in Omniconvert. Soon after, we rebranded to Omniconvert: our former name, Marketizator, was hard to spell, and we decided to leave it behind.
We faced premature scaling as our go-to-market strategy was effective, but the CRO market was not mature enough to handle our complex product. Our target customers lacked the necessary knowledge to leverage it properly. Thus, we underwent a restructuring to address these challenges. In summary, we adapted to the market's limitations and focused on larger and more mature companies.
We re-engineered the A/B testing reporting. Now, there are 2 types of reporting: frequentist and Bayesian, that allows websites with lower traffic to gain insights from their experiments earlier. G2 named us the "highest overall customer satisfaction" CRO tool. After 200 interviews with eCommerce and retail leaders, we realized that they face a big problem around improving Customer Lifetime Value.
After the revamping of Google Optimize, it was clear that we wanted to differentiate: almost every marketer used Google Analytics for free, and now they had a free solution to run experiments coming from Google, as well. So, we decided to create a new category: CVO: Customer Value Optimization We kicked off the development of our customer analytics platform for retailers: the first one that blends qualitative and quantitative data to improve the CLV for ecommerce
Omniconvert Reveal is LIVE. Companies can run RFM segmentation to understand their customers and then nurture them differently on ads, emails, or website. Our first beta customers, Decathlon, Office Direct, and Otter are offering us precious feedback. A large shoe retailer achieved a 30% increase in customer retention after 6 months of experimentation. We defined the CVO methodology thanks to our blend of technology + analytics services.
Our customer analytics solution, Omniconvert Reveal gest a good traction and exciting feedback on the Shopify marketplace. The exact words of on of our first early adopters: "I've just realized how little I knew about my customers, event though the data was there for all these years…"We teamed up with 8 practitioners and experts from the academic space and launched the CVO academy to help companies grow their customer lifetime value and individuals learn and apply the CVO methodology, in order to become certified CVO experts.
Hundreds of companies are using Omniconvert tools and our rating is a perfect 5/5 on the Shopify app marketplace. Omniconvert has once again achieved a 'High Performant' rating on the G2 Conversion Rate Optimization (CRO) Report, as a result of positive reviews by verified users. We launch the dynamic audience builder - empowering companies to trigger relevant ad campaigns based on RFM segments on Meta and Google, and email campaigns on Klaviyo or Sendgrid.
After years of struggles, we're now profitable. Our team of 35 exceptional people are 4X more efficient than our team of 60 people back in 2017.We launched our advanced NPS solution for omnichannel retailers that allows them to analyze customer feedback by employee, city, store, etc AND to take action in real-time with our integration with helpdesk solutions.Large retail companies like Tempur, Auchan, Orange, Avon, or Max Mara are successfully using our solutions.
As the retail market is now extremely competitive, we're now listening to what our customers need and we're in private beta with our in-store experimentation solution that allows them to be agile, despite their large size.
Dip your toes into CVO. Then dive.
How much would you earn with a data-driven growth mindset & tools?