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Bog & Idé x Raptor

Case Study: Bog & idé – More Inside

Bog-og-ide-logo

Bog & Idé

Industry: Hobby, Office & Books

Partner: IMPACT

Solutions:

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Up to Total Revenue by Raptor

About

Bog & idé is the largest retailer of books in Denmark. Their value proposition is based on the needs of their customers, and to support those values they are using Raptor to combine customer data from their online channels and their physical stores in order to recommend the most relevant products to their customers.

Furthermore, Bog & idé is developing a tool, which will allow in-store personnel to utilize real-time data from Raptor Services. This feature will reveal relevant up- and cross-selling opportunities in relation to all “Click & Collect” customers in physical stores.

Currently, 65% of all online orders are collected in-store, so there is an enormous potential in personalizing an omnichannel-solution based on data from Raptor.

Established in 1969 as Bogpa with 36 booksellers, Bog & idé is now operated by Indeks Retail A/S with 125 stores.

A growing online presence represents a very important source of income for Bog & idé. Therefore, they always strive to meet the different needs of different customers, both online and in-store. As a result of their efforts, Bog & idé have been awarded the 3rd place for “Best Omnichannel E-Commerce Business” at FDIH’s E-Commerce Awards.

Solution

Recommendations that convert

In order to optimize user experience and customer loyalty, Raptor is delivering personalized product recommendations, which are engaging, converting, and easy to scale across an entire platform.

It is very important to our success that the expertise from our physical stores is also represented online, and Raptor helps us to recommend the most relevant products for each individual customer no matter where they enter or land on our site.

Nicolai Lind Jørgensen

E-Commerce Manager, Indeks Retail, Bog & Idé

To ensure that every online interaction is as personal as possible, every recommendation from Raptor is calculated in real-time, which means that the customer’s own decisions are helping to shape their individual customer journey.

Take-aways

  • As our algorithm continuously learns from behavioral patterns, the performance increases over time. This is because our recommendations become more qualitative and relevant for the individual end-user.
  • When we collaborate closely with our customers we understand their individual business needs, and that is the key for both parties to succeed. Therefore, working closely with our customers is what makes the difference, when it comes to performance and Return on Investment.
  • Volume of data is essential for any machine learning process. The more data we have, the better the recommendations will become.

Results

Revenue increase from 3.74% to 15.83% in three weeks

Following the initial integration, Raptor gave the algorithm some time to learn from clickstream data, and after the first week, revenue lift had increased from an initial 3.74% to 9.79%.

In close collaboration with the team at Indeks Retail, we started a process to fine-tune and customize the solution on Bog & idé’s online platform.

By doing so, a more advanced synergy between our recommendations and the customer journey on their site was achieved. One week later the revenue lift had increased to 15.83% with Direct Revenue at 5.66%.

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Week 1

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Week 2

Week 3

Revenue by Raptor explained

Revenue by Raptor is defined as the revenue generated directly and indirectly from Raptor modules.

Revenue from customers that click on and buy a product from a Raptor module registers as Direct Revenue, whereas revenue from customers that click a product from a Raptor module and then purchase something else, register as Assisted Revenue. Together they make up Revenue by Raptor.

 

Raptor helped us realize revenue we otherwise would not have captured. In about 3 weeks we saw our revenue lift go from 3.74% to 15.84% as a result of working with the team at Raptor to optimize our solution.

Nicolai Lind Jørgensen

E-Commerce Manager, Indeks Retail, Bog & Idé

Timeline and results

 

Week 1

At this point, Raptor is recently implemented. The modules are on the website, but the algorithm has not yet mined large amounts of data. Therefore, the patterns calculated by the algorithm are less intricated, and the recommendations are less accurate in the first few days after launch.

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Total Revenue by Raptor

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Raptor Assited

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Raptor Direct

Week 2

A week later the algorithm has mined clickstream data and mapped the co-relation between products and user behavior. The modules on the site now recommend products that are much more relevant to the individual user than before.

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Total Revenue by Raptor

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Raptor Assited

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Raptor Direct

Week 3

Just one week after the optimization process, the total Revenue by Raptor had increased to 15.83% of total online revenue, compared to 3.74% Revenue by Raptor two weeks before the optimization. After the optimization process, Direct Revenue increased more than double from 2.37% to 5.66%.

Direct Revenue is a major factor in terms of how the modules are performing on the site. The more products are sold directly from recommendations, the more effective the solution is. The increase in Direct Revenue is also a clear indication that the recommendations are more accurately tailored to meet the needs of the individual user.

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Total Revenue by Raptor

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Raptor Assisted

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Raptor Direct

The great thing about our algorithm is that it improves itself over time based on a continuous stream of user behavior and product affinities, but when you start to actively fine-tune the solution your results will be impossible to beat.

Kenneth Boll

CEO, Raptor Services

Latest result – Week 25

On September 14 (23 weeks after the 2 week optimization process) 30,8% of all online revenue on bog-ide.dk is affected by Raptor’s modules. 13% of all online revenue is from Raptor Direct revenue.

This is a clear indication that the algorithm is continuously improving its performance. For 23 weeks the performance has increased automatically, which indicates that users increasingly rely on the personalized recommendations to optimize their shopping experience.

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Total Revenue by Raptor

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Raptor Assisted

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Raptor Direct

Raptor Solutions

E-mail & Triggers

Personalized products and content in e-mails and behavioral triggers

Website Personalization

Product- & content recommendations for web and search

Do you want to know more about this case?

A Raptor expert can share more about the product and answer any questions you have

Mads Thorsen

Kenneth Boll

CEO

Phone: +45 20 26 65 94
Mail: keb@raptor.dk

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