“Yieldify is extremely data-driven and their recommended approaches clearly perform – increasing opt-in rates, revenue per lead, conversion rates and AOV. If I had to do it again, I would have onboarded them years sooner.”
Extract Labs is a leading CBD (cannabidiol) brand in the United States recognized for providing the purest, highest quality products at the lowest price. They honor this promise by keeping every step of production in-house.
The brand offers a wide array of award-winning CBD and hard-to-find THC-free CBG, CBN and CBC products.
Since the company’s founding, CEO Craig Henderson’s vision that CBD will change the health and wellness world has remained the binding ethos at Extract Labs.
Challenge
Growth forecasts for the US CBD industry – which represents one-third of the global market – are nothing short of staggering. The major factors driving the growth of CBD are increasing consumer demand and government acceptance of its many therapeutic properties.
However, the industry has attracted hundreds of entrants and therefore it is essential that Extract Labs differentiate itself and build a strong brand.
That’s why Extract Labs turned to personalization to better communicate their brand story, build top-of-mind connections and loyalty with their customers, and make shopping easier.
Strategy
Yieldify identified numerous personalization opportunities for Extract Labs using its advanced analytics, testing and optimization capabilities which included:
- Drive high-quality email sign-up volume with lead capture experiences that personalize creative, messaging and incentives based on different points in the customer journey
- Maximize in-session sales using social proof experiences that create urgency by highlighting product demand and scarcity
- Reduce cart abandonment by messaging at-risk shoppers when they have earned free shipping or of how much they need to add to cart to achieve that threshold
- Continue shopper journeys with browse, cart and checkout abandoners by incorporating dynamic content in email remarketing campaigns like SKU, imagery and cart content
Result
Extract Labs achieved 5:1 ROI, increasing their email database by 39%, generating 83% more revenue per lead, and lifting conversion rates and average order values by 7% among the traffic served with experiences.
To help continue their market share growth, Extract Labs relies on Yieldify’s platform and services to better personalize and evolve their mobile and desktop experiences.