Switching Trading Partner

May 23, 2022

By admin

Background

Poor performance, unforgivable mistakes, and difficult collaboration, many reasons can motivate the decision to change TP. A new team to work on your project may be what you need to rejuvenate your business. A family-owned company with more than 100 years of business history has been trying to grow and reach profitability in China for quite a few years without success. Prices have been dragged down, impacting the brand’s reputation and the room for margin. Even worse, the peak of operation of their Tmall Global flagship store seemed to be behind them, with their sales and customer base shrinking month by month. Some changes were needed, and they entrusted us to reverse the trend and save the business.

What we did

In the previous months before we took over, the customer base had decayed to the point where most loyal customers weren’t recoverable, and we had to restart the store almost from scratch. We first designed a new strategy with a different product focus and target audience, updated selling points, and a new store visual identity. We then implemented an omnichannel marketing strategy, establishing brand presences across mainstream social media, building private traffic through official account management, and partnering with KOC and KOL to build brand equity and quickly attract sales.
Within three months, we established a new monthly sales record, and it was the first time the brand made a profit with their Tmall store. To maintain the balance between growth and profitability, a great emphasis was put on customer relationship management, and we reached a retention rate above competitors’ average.

After six months, the store recovery attracted Alibaba’s category manager’s interest, and the brand was offered a strategic partnership, providing more resources and support to keep growing.

After one year

One of our new hero products is ranked first in its category. Our CRM effort successfully produced above average retention rate on multiple products. Our AI-powered audience segmentation supported our promotion strategy, leading to accurate targeting of high potential customers and increasing returns on ad spend by 200%.

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Increase in return on ads spend

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Growth YOY since changing TP

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Retention rate with a 100% growth

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SKU in the category within 6 months

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