Fire-Boltt Uses GoKwik To Increase Conversion By 25.88%
ABOUT
Reduces Return-to-origins By 30%
HQ
India
INDUSTRY
Electronics
About Fire-Boltt
India is witnessing a huge influx in the demand of new-age audio and wearable products adorned with today’s leading cutting-edge technology. In fact, according to IDC, about 100 million plus units of wrist bands, smart watches and earwear were sold in FY 2022. And, a major contributor to this number is Fire-Boltt.
A venture of Savex Technologies, India’s third largest technology distributors, Fire-Boltt is a homegrown venture that sits amid the top three audio and wearable brands of India. It offers a premium range of audio, fitness, and fashion products ideal for all ages groups and genders.
Besides bagging successful home runs since 2015 and holding a 29% share in the domestic market, Fire-Boltt is also a popular brand overseas. Globally, it holds about 5.5% of the global market share. It’s major product line includes,
The Challenge Of Online Selling
While the company is on an excellent growth trajectory and registering a high volume of orders every month, the contribution from its D2C website was comparatively low. This was especially concerning because the company was heavily investing in various marketing activities. Its return on ad spend was lower than expected.
Meanwhile, its return-to-origin (RTO) rate was also quite high. To give you an example, if the company was clocking 100 orders a day from its website, about 70 of them were cash-on-delivery based orders. Of these 70, nearly 40 of them were getting cancelled while the product was in transit or rejected at the doorstep. This was severely hurting Fire-Boltt’s revenue.
The audio and wearables giant started digging deep to find the right solutions to solve these major concerns at hand. This is when Fire-Boltt partnered with GoKwik.
Boarding The GoShip
Examining Fire-Boltt’s website, GoKwik saw that the brand’s website was attracting much traffic. However, it was unable to convert prospects into paying customers due to leakages in its checkout funnel.
GoKwik then implemented Kwik Checkout on Fire Boltt’s website and streamlined the entire checkout process.
A. Kwik Checkout
Unlike before, here’s what the prospects now experienced on Fire-Boltt’s website which persuaded them to complete the purchase.
- Faster Login – Backed by GoKwik’s Single-sign-on and Truecaller-powered login process, visitors were now able to login to the website super fast.
- Auto Address Fill – Owing to the GoKwik network effect, visitors could now avoid the hassle of adding addresses on Boltt’s site. GoKwik auto fetched and filled it for them based on their recency and relevancy in the past.
- 1000+ Discounting Options – Buyers could now easily find & auto-apply discounts on the checkout window itself, which significantly reduced the risk of drop offs.
- Kwik Payment Stack – Offering an array of payment options considering that different buyers prefer different payment modes.
Visitors were now able to complete the entire purchase process within 2 minutes.
B. RTO Protection Suite
The next problem at hand was to reduce the number of order cancellations and rejections on the doorstep. To do so, GoKwik embedded its RTO Protection Suite on Fire-Boltt’s website.
Here’s what happened next. Backed by artificial intelligence and machine learning, GoKwik’s proprietary model,
- Analysed the incoming website traffic
- Filtered these visitors in three categories – high, mid, and low-risk shoppers with high risk being the one which showcased the least buying intent
- Placed interventions during order placement for each of the identified buckets. For instance,
- Dynamically hid COD as a payment option for high-risk shoppers to reduce the risk of cancellations and rejections
- Strategically identifying problematic pin codes and product IDs to disable COD as a payment mode
- Embedded many behavioural nudges in the case of low/mid-risk shoppers such as, risk-based COD confirmation, COD-OTP authentication, etc.
- Added many different types of post-order customer experience communication tactics such as, using WhatsApp communication to send reinforcement messages like shipment status, out for delivery messages, etc.
Besides these, GoKwik also implemented its one-of-a-kind Cash-to-Prepaid or C2P Feature on Fire-Boltt’s thank you page.
In this case, as soon as a person placed a cash on delivery order on Fire-Boltt’s website, they’re redirected to the brand’s Thank You page. On this page, the buyer sees the following window.
The page gives customers another chance to avail additional discount on their purchase and instil a sense of urgency through the 3 minute timer prominently placed on the page. This further helps reduce the risk of RTOs and also increases the share of prepaid orders.
The Result
By implementing GoKwik solutions and interventions on its website, Fire-Boltt witnessed the following upliftments.
- Prepaid order percentage increased by 127%
- Overall checkout conversions increased by 25.88%
- Address pre-fill conversion rate increased from 132.3%
- RTO rate reduced by 30%
The Future Perspective
From acquiring 0.3% market share in 2020 to leapfrogging to a staggering 29% market share in 1Q 2023, Fire-Boltt is on a very solid growth trajectory. This means that Indian consumers are adoring the audio and wearables giant’s gadgets and trusting the brand. With an aim to build many new and interesting, daily use gadgets and gizmos for today’s youth, it’s just a matter of time to see Fire-Boltt ooze fire globally.
Meanwhile, GoKwik continues to support Fire-Boltt in its mission and aims to build many advanced solutions that help the audio and wearables giant platform scale its business worldwide.
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