Jun 10, 2023
Monk's suite of upsell/cross sell features account for >15% of their monthly salesProhormones is a UK-based brand specializing in high-quality, cutting-edge nutraceutical products. They have been actively involved in e-commerce for 12+ years, currently operating at a 7-figure annual revenue run rate.
ChallengesThe team at Prohormones keeps innovating and introducing new ranges of products regularly. However, promoting these new items & testing them at a low budget posed significant challenges. They were on the lookout for an easy-to-use, holistic app that supports all the critical features they needed, had a no code/low code setup & could be customized to suit their brand language and theme design. With this in mind, they experimented with 4-5 apps on the Shopify App Store and finally decided on Monk. Strategy & ResultsThe store employs 2 different features of the app to drive additional sales & test new products: 1. Bundle on the product pageUsing Monk's granular and targeted rule engine, they're able to create specific bundles and display them on the relevant product pages - right below the description and add to cart button. Each bundle on a product page is different from the others and consists of specific products that are complimentary in nature with the main product on the page. Customers that avail the bundle also get an additional 10% off ('Freuqently Bought Together' in the image below)
2. New product testing on the cart pageThe store uses Monk's cart page recommendation (below the 'Checkout' button in the image) as a way to drive adoption and discovery for their newly launched products. They keep a single recommendation store-wide and then measure the take-rate as well as the repeat rate for customers that purchase the new product. This is a significantly cheaper way to market new products as compared to running ads on Meta/Google at sub optimal ROAS.15%+ of their monthly sales is now attributed to Monk with all of the above features playing different roles in different buying journeys and working in conjunction to drive impact. Since adding Monk to their store 7 months ago, they've seen a 25% increase in AOV and a near 40% increase in profit margins. 1 person from thier team currently spends just 3 hours/week to maintain the app and setup new experiments.
Here's what they had to say about the app:
Enhancing AOV at a 7 figure+ scale requires targeted offer setup based on the specific product page and products in cart. Higher the relevance, higher is the take rate of the offer/recommendation. This is where Monk's deep eligibility rules come in handy for 1000+ brands using the app to drive incremental sales. And, with multiple critical features, all in the same app - merchants don't need to pay for or integrate/manage several apps at once.
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