Taking it to the next level
1stdibs.com is a global destination for the best in furniture, fine art, vintage fashion, and jewelry. The company set out to revolutionize an old-world industry by connecting the finest international dealers with clever buyers online. As business grew, 1stdibs realized it would need a broader and deeper understanding of ecommerce customers and the marketplace.
“You can only go so far on gut feelings,” says Adam Karp, CMO of 1stdibs. “When I came to 1stdibs, we were using digital information, but it was in the very early stage. To be a high-growth company, we needed to put ourselves in a position where insights and analytics would actually drive our decision-making.”
1stdibs needed a scalable infrastructure to collect, process, store, and visualize digital information. The company also needed to recruit analytics talent and build a culture in which that information was at the heart of the business.
Working well together
Cardinal Path, a Google Marketing Platform Partner, helped plan and deploy a custom solution for 1stdibs with Google Analytics 360, Google Tag Manager 360, and BigQuery. They first helped 1stdibs explore and document stakeholder objectives. Then, they established frameworks and key performance indicators (KPIs) to measure both failures and successes.
“Cardinal Path helped us move through this process faster and more efficiently than if we’d done it all ourselves,” says Adam. “We know our business as well as they know theirs, so it’s been a partnership built on mutual respect and benefit from the beginning.”
Deeper customer insights
1stdibs was already using Google Analytics to collect and analyze digital information, but knew they were just scratching the surface. Without a solid attribution strategy, the marketing team didn’t know what it cost to acquire a customer, and the team had no way to measure the effectiveness of cross-channel programs. By delving further into Analytics 360, the 1stdibs team could get a wide-angle view of their business.
Not only do we trust the insights we’re seeing, but the advanced features help us identify and benchmark acquisition costs ― even across different segments ― and determine how we’re going to get the best return on our media planning. That’s power we’ve never had before.
, Manager of Analytics, 1stdibs
Using more powerful analytics to make decisions, 1stdibs saw a 47% lift in transactions on paid media campaigns and a 10% gain in overall return on ad spend (ROAS). Plus, newly optimized email strategies led to a 34% increase in email clickthrough rates.
Finding new dimensions
With Analytics 360, 1stdibs used Universal Analytics and took advantage of custom dimensions. “We were finally able to define different visitor and customer groups by new attributes and compare them,” says Jung Lee, head of analytics for 1stdibs. “This lets us understand and fix the problems different groups are having, or see which types of visitors are most valuable to our ecosystem.”
1stdibs created dozens of new customer, session, and product attributes. For example, the company can measure traffic and goal conversion among customer groups like design professionals or VIPs to understand behavior patterns and tailor the on-site experience to their needs. These insights also help 1stdibs find and identify new prospects, delivering the right message to the right person at just the right time.
Improving the experience across devices
Cardinal Path also helped 1stdibs design and deploy an Analytics 360 mobile measurement solution for its iOS app. 1stdibs can now visualize user behavior through all touchpoints, screens, and devices for a new level of customer understanding.
For example, 1stdibs didn’t know if people would actually buy on an app, or if they would simply browse and buy later on a laptop. Since about half of registered sessions come from multi-platform users, these insights are valuable.
A new level of analysis has been instrumental in making 1stdibs a better platform for the dealers at the heart of its business model. “As we share these insights with our dealers, they use them to improve their offerings and benefit even more on our platform,” says Jung.
Optimizing strategies with insights
With a new and powerful analytics strategy squarely in place and the benefits piling up, the 1stdibs team knows that it’s been worth the effort and investment: “You only need to look at the growth of our analytics team — which has quadrupled in the past year — to see what a critical role insights now play in our business. We just continue to unlock more and more value from our digital information assets,” says Adam.