Read the full transcript
My name is Colby Dennison and I am the Vice President of Marketing at MakerBot. MakerBot is the global leader in desktop 3D printing. We were founded in 2009 and since that point, we have sold over 100,000 printers, more than anyone else in the world, to over 150 countries.
Why is personalization important for MakerBot?
Personalization is very important to us at MakerBot. We have a very diverse customer base. To speak to all of these customers, in a way that addresses their needs and helps them specifically understand how 3D printing can help them with their goals, requires you to provide very specific messages to these customers.
Why did you choose Dynamic Yield?
We decided to go with Dynamic Yield for a number of reasons. First off, we were really impressed with the team. We felt like an important part of their platform. We felt like our business was valued. We knew that our success was also going to mean their success and that our interests were always aligned.
The value of a product like Dynamic Yield is that we can create custom, segmented audiences to make sure that we are delivering the message that most appeals to you and helps you understand how 3D printing, and specifically MakerBot, is going to fit into what you do.
With Dynamic Yield, we can make changes in a day, in an hour, that our team controls. We can test it, get it up there right away, and as a result of having that power, it’s changed the way that my team see the website because we actually see it as a marketing vehicle now, not a platform that’s controlled by our development team.
Which Dynamic Yield capabilities do you use?
The first place that we started was in our shopping cart. When people had products in their cart, when they were going to leave the cart, we could present them with four different offers. We used multivariate testing to see which offer was actually going to be the most relevant for people and have the highest conversion rate. Two of those offers really proved to have a huge impact in helping people convert and capturing revenue that otherwise would have been lost.
The second area that we focused on was on our homepage and making sure that the site feels relevant and updated to drive more revenue, to increase conversion rates. These are areas that when you compound them over the hundreds of thousands and millions of visitors that we get to our site have a really huge impact, both on our top line as well as our bottom line, in terms of converting to our direct channels.
What improvements have you seen?
In the experiments that we talked about, first in the homepage, we saw an 18% increase in engagement with our hero module because we were able to one, make sure that the content was relevant to you, and two, that it was updated, so that you weren’t seeing the same content over and over again.
The second area that we tested and that we’ve been running Dynamic Yield improvements is through our cart. Just with this one test alone, we’ve actually seen a 5X return on our investment in the platform in reduced cart abandonments and increased conversions.
The 3D printing industry has been around for nearly 30 years, but it’s never experienced a spike like this before. According to the Wohlers Report, the most trusted report about the additive manufacturing (AM) industry in which 3D printing falls into, 3D printing is expected to grow by more than 31% per year between 2014 and 2020 and eventually generate over $21 billion in worldwide revenue.
The undisputed leader in 3D printing is MakerBot, a Brooklyn-based company that has sold over 100,000 3D printing units. The challenge MakerBot faces isn’t just attracting people to its site and telling them a story: it’s knowing who it attracts and what story to tell them.
3D printing has a wide array of industry applications and end-users: home appliance manufacturers, Game of Thrones enthusiasts, architects, and musicians alike have used MakerBot’s printers to fulfill diverse and individualistic needs. How does MakerBot cater to the unique needs of each of these customers? By morphing itself as soon as each user lands on the site.
In a recent article featured in the popular Stores magazine (part of the National Retail Federation) Makerbot reveals how it uses Dynamic Yield to reduce cart abandonment, test key website experiences, and transform to meet the needs of each visitor.
Personalization and continuous optimization are a critical components of MakerBot’s ongoing success. With Dynamic Yield, MakerBot delivered targeted messaging via its homepage creatives, A/B tested banner locations to drive more leads, and triggered real-time notifications on cart pages to increase sales. The result? A 5X return on investment and lots of happy customers.
Read the full case study:
MakerBot Achieves 5X ROI and Increases Sales