LONDON, January 7, 2015 /PRNewswire/ --
Retailers continue to invest in enhancing online user journey to curb growing consumer frustration
Yieldify, the leading abandonment analytics and personalisation solution, today announced that its revenue has grown 411% year-on-year since November 2014.
2014 was a story of expansion and extraordinary growth for Yieldify, who opened offices in Berlin, New York and Sydney all within the past 12 months to keep up with increased demand. The whole international Yieldify team celebrated the launch of its 10,000th campaign last month with the US team alone driving 325% growth in Q3-Q4 2014.
Global clients use Yieldify's real time analytics to gather actionable insights into on-site behaviour, empowering brands to understand where and why their users abandon site and how they can create a better customer experience. Clients can also make use of Yieldify's granular lens to tier on-site and email remarketing segmented by geolocation, basket value and traffic source.
Yieldify's growth and success has risen in parallel with online consumers rising expectations. Equally, this hyper-competitive marketplace has pushed retailers to look for new methods to convert online visitors into customers.
Basket abandonment has become a huge drain on revenue for e-retailers leading to revenue losses surpassing £6 Billion in 2013.
77% of shoppers abandoned their basket before making a purchase last year. That's three out of every four shoppers who never completed their purchase. Proactive e-retailers need to begin to use actionable insights to understand why their consumers are dropping off site.
Online brands that are using Yieldify to improve their onsite user journey and fight basket abandonment losses include O2, Goldsmiths, Monarch, Yves Rocher and BonMarche.
"We work very hard to deliver an engaging website that delivers an enjoyable customer journey," says Katherine Scott Head of Multi-channel at BonMarche. "With that in mind it was important that Yieldify's overlay technology added value to that journey, rather than interrupting it. We've been delighted with the results. Our campaigns have captured important data from new visitors and helped us to increase conversion rates from returning customers. The level of targeting and personalisation that is available has helped us to ensure that everything we implement adds value from both a sales and customer perspective."
Yieldify's evolution from 2 person start-up to 95 people strong global operation in 18 months has also been amplified by the recent British adoption of "Cyber Weekend" - a key sales period for retailers that was previously a purely US event. Yieldify alone experienced a 90% uptake in UK sales over Cyber Weekend compared to the previous weekend, rounding off a year that saw expansion and growth on all fronts.
"We are absolutely thrilled with 2014's growth," commented Jay Radia, CEO of Yieldify. "We have reached so many strategic milestones this year, especially with our launch into the US and Australian markets. Moving into 2015, we're dedicated to continually improving our customer service and enhancing our platform. We will continue to help brands around the world engage more directly with their consumers across all channels and empower them to deliver the best possible service for the modern buyer."
Yieldify's multi-channel abandonment analytics platform enables top global brands to create personalised buyer journeys for their consumers, converting abandoning visitors into customers.
Their technology creates incremental value by optimising online conversion rates and driving lead generation.
Founded by brothers Jay and Meelan Radia in June 2013, Yieldify is among the fastest growing technology companies from the UK. With offices in London, New York, Berlin - and now Sydney, Yieldify enables eBusinesses around the world to communicate better with their consumers.