ODOSCOPE | Updates

By Ralph Hünermann

ODOSCOPE enables sales increases of up to 30%

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Public

Hello dear Companists,

In this update we would like to share with you some current Uplift successes that we have made possible for one of our customers. This will serve as an example for the uplifts of our other customers.

We cannot name the company for data protection reasons, as such sensitive information is classified as a trade secret. Nevertheless, we would like to demonstrate the added value of our platform to you once again on the basis of this anonymous example customer. The numbers and graphics come directly from our dashboard. The great success of one of our e-commerce customers in the month of July can be proven by several key figures.

We were able to generate demonstrably more than 40.000€ additional turnover in the mobile sector alone in the last month. This corresponds to a mobile turnover uplift of 30%. Mobile devices now account for two thirds of the company's total traffic, so mobile revenues are also highly relevant.

These significant increases were only generated within the sale category of this customer and were achieved exclusively on the basis of situation data. Imagine how much more uplift would be possible with an additional integration of personal data....

 

Umsatz-Uplift

In addition, a significant increase in the most important key figures was achieved. We have rounded the values to one decimal place for clarity:

• + 600 buyers converted

• + 18,7% product views

• + 20,8% product added/visitors who have added product to their shopping cart

• + 26,8% Product Ordered/Conversion Rate

• + 2,49% Basket (average shopping basket value)

• + 30% revenue per visit

• + 40.570€ additional turnover

• - 55,12% Bounce rate

• + 13,5% Session duration

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Key figure legend:


Visits
= visit/session of a page on which ODOSCOPE is integrated
Buyer = buyer/customer
Product Viewed = Percentage of visitors who viewed a product detail page

Product Added = Percentage of visitors who have placed in the shopping cart
Product Ordered = Proportion of visitors who bought a product (Conversion Rate)

Basket = average market basket value
Revenue per Visit = average revenue per visit
Revenue = Revenue

Bounce Rate = Percentage of users who leave a shop after only one page visit; the lower this value, the better for a company.

Session Length = number of page views per visit


 

A Small Digression: Statistical Significance

Many of you may still remember your statistics course at university in the dark and have got to know the concept of statistical significance there, among other things. Statistical significance means that the probability of a correlation between two variables is very high. In our example: The connection between a side element optimized by ODOSCOPE and the uplift of product orders.

A statistical test shows a significance as soon as the confidence intervals no longer touch (see below). In the following graph, this means that the results were statistically significant from around 4 July, i.e. there is a correlation between our playout of relevant products and the increase in product orders.

Statistically, this result means that the result is 95 percent likely to be in this range again if the test is repeated under the same conditions. In addition, the amount of data increases from left to right, as new data is added every day, the longer the test runs. The width of the confidence interval is therefore smaller the larger the sample size is (and vice versa).

 

 Signifikanz Test

 

Blue = Conversion Rate of ODOSCOPE

Grey = Conversion Rate of controll group

 

Invest in ODOSCOPE

Our campaign is slowly coming to an end and we would like to ask you to talk to your friends, acquaintances and business partners about ODOSCOPE and recommend us as an investment opportunity. Because we still have ambitious goals and need your support to achieve them. Invest in a future German technology champion!

 

Best regards on behalf of the ODOSCOPE team,

Ralph Hünermann



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