Crowned Jewelers: Conversion Funnel Analysis…

© 2016 SlideRule Labs Inc. Revised: October 11, 2016 ——————————————————————————————————————————————————————————- Crowned Jewelers: Conversion Funnel Analysis Crowned Jewelers is a leading, international online jewelry retailer. They specialize in selling high-quality rings, earrings, necklaces, and watches. Crowned Jewelers is the world’s third largest online retailer by revenue. The company has expanded quickly, especially on the back of international growth. In 2015, revenue increased 16% compared to the year prior. For the next year (2016), the company wants to see online sales surge by at least another 20%. However, Crowned’s management is worried that global economic uncertainty may disrupt this goal. In the most recent quarter, revenue slipped compared to the year-ago period. With an international clientele, the company is worried customers may not have as much disposable income to continue buying luxury jewelry items. To combat this, the company has recently started to offer installment payment plans for online purchases, a decision that was controversial and debated heavily on the team — opinion is divided on whether installments plans have a positive impact on conversion, and if so, in which regions. Given the divided opinion, information about the installment plan is not prominently displayed during the checkout process on the website. Crowned Jeweler’s marketing team wants to optimize their website to increase online sales. They want to improve their conversion funnel and pricing strategies to better match consumer preferences. To help with this project, they have brought in a prestigious full-service digital marketing agency — Springboard Associates. You’ve just been hired as a Business Analyst at Springboard. You’ve been tasked with analyzing Crowned’s conversion funnel data to see where the bottlenecks lie and to recommend a few improvements to optimize the website. Just as you start to wrap your head around the assignment, Corbain Jengings, Crowned Jeweler’s Head of Marketing, sends you an email. The email says: Hi, Congrats on your first assignment! We're really happy you're working with us to analyze our conversion funnel. We're not quite sure what's going on, so we're really hoping you can help figure it out to improve sales. Here's all the analytics data from our most recent holiday sales period, Dec. 1-31. (It's the tab called crowned_jewelers_data_set). This document is authorized for use only by Loice Ruttoh ( Copying or posting is an infringement of copyright. © 2016 SlideRule Labs Inc. Revised: October 11, 2016 We think there might be something going on with our pricing strategy, especially for shoppers from different regions. Therefore we've also included GDP data (tab called gdp_data) for the five regions most of our shoppers are from. Looking at it with the our web analytics data, you might be able to uncover some interesting trends. We're going to present your findings to upper management, so please create some nice charts we can show to our board of directors. We're looking to see: ? What our conversion funnel currently looks like ? Where the biggest problem lies within the funnel ? If there's any relationship between the region where shoppers reside and the type of payment they're making Thanks so much! Corbain Jengings, Head of Marketing, Crowned Jewelers You start by downloading the dataset. At first, you feel a bit overwhelmed, and you don’t really know where to start. You speak with Deborah Horowitz, your supervisor at Springboard. She provides the following guidance. 1) Start by using the company's analytics data to create a conversion funnel visualization report. Use the template provided in the dataset to state the conversion rate (%) and actual visitor numbers within each step of the funnel. 2) Analyze the company's web data to: (A) Show how device usage varies by region (try a clustered column chart), and report what implications device usage might have for the company's website. (B) Determine if there's a correlation between purchases made and the average time spent on the product pages (try a scatter plot chart). (C) Analyze the GDP data in relation to purchase data, specifically “payment type”. See if you can find any correlation between GDP growth rate in 2015 and payment patterns by region. Then, state why you think this pattern may exist. (D) Based on (C), any recommendations for improvements to the funnel? Best of luck! This is your chance to impress the client and prove to your new boss you’re the right person for the job! This document is authorized for use only by Loice Ruttoh ( Copying or posting is an infringement of copyright.

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