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The Signature Hardware Objective: Efficiently Locating Untapped Revenue
With over 60,000 products, multi-channel advertising, complex campaigns, and evolving seasonality, Signature Hardware had many factors that affected its eCommerce performance. To help address their pain points, Metricstory showed Signature Hardware how Machine Learning can automatically discover untapped revenue.
Located in Northern Kentucky, Signature Hardware is an online retailer of over 60,000 products for the kitchen, bath, and home.
The Signature Hardware Metricstory
Before Metricstory, Signature Hardware would manually sift through their marketing and merchandising data to uncover insights to move their business forward, which was like trying to find a needle in a haystack. While this approach resulted in success, they knew it was not the most efficient way to operate.
In 2017, Signature Hardware turned to Metricstory for an efficient, cost-effective way to leverage their data so their eCommerce team could spend more time taking action on insights.
The company wanted a solution that would automatically find products that are over or underperforming across their channels and serve them up directly to the appropriate team member who could best take action on the insight.
Revenue from Metricstory insights.
Hours per week that Metricstory saves Signature Hardware.
The number of analysts you'd need to hire to match Metricstory's speed, depth and versatility.
"Metricstory cuts out the noise and gives me granularity I can't get anywhere else allowing my team to make quick and well informed decisions."
—Sean Fisher, Director of eCommerce
Here are 2 examples of how Metricstory set Signature Hardware up for success:
Signature Hardware received this Metricstory Alert, which included analysis on revenue, channels, ROAS, and more.
Without further analysis, they immediately knew it was an opportunity to capitalize on.
The merchandising team had implemented a creative refresh on this specific product page and Metricstory's analysis revealed it was a success.
This allowed Signature Hardware to plan similar creative refreshes across the rest of the products within the same product category. They now look to Metricstory's analysis to reveal additional revenue opportunities across the rest of their products.
Signature Hardware's merchandising team received this Metricstory Alert and looked into this product. They realized it had been out of stock during the previous period.
Given enough time, the Signature Hardware team could find which products are in and out of stock, but what makes Metricstory uniquely valuable is its ability to alert them to the revenue impact of an out-of-stock item.
Metricstory's analysis revealed the consistent demand for this product, preemptively informing the Signature Hardware team to adjust their projections to ensure inventory will meet demand.
This analysis saves them time and allows them to make informed, revenue-based inventory decisions.