Case: Vurdere & Midea - Unveiling the Spectacular 300x ROI!
In a digital world where customer engagement is essential, innovative collaborations can be the foundation of success. Vurdere, a pioneer in AI-driven customer engagement platforms, and Midea, a global giant in home appliances, have joined forces to create a new path in the e-commerce market. This partnership not only demonstrates how cutting-edge technology can be used to enhance customer interactions but also lays the groundwork for exponential growth and brand loyalty.
In this article, we will delve into the inception of this alliance, the integration of Vurdere's cutting-edge solutions into Midea's online framework, and the impressive results achieved. Whether you are an industry veteran or an emerging entrepreneur, the insights from this success story will highlight the immense potential that exists in purposeful partnerships.
Midea Founded in 1968, Midea is the world's largest air conditioning manufacturer. In 2011, with the aim of internationalizing its operations, it partnered with Carrier, a leading HVAC company founded by the inventor of air conditioning, Willis Carrier, to produce and distribute products in Latin America, primarily in countries such as Brazil, Argentina, and Chile.
As a global reference in the home appliance segment, Midea has continually sought to evolve the customer experience. With a diverse range of products and a vast customer base, the company prioritizes fostering a sense of community and brand loyalty, ultimately leading to higher conversion rates and increased revenue.
Challenges In pursuit of greater visibility in reviews and increased consumer interaction on their product pages, Midea faced significant challenges with their old product review tool. The situation was concerning, as this previous tool could capture only a minuscule fraction, less than 1.5%, of customer comments and reviews. In a market where the average response rate reached around 8%, this gap represented a considerable disadvantage.
This disparity in response rates highlighted the urgent need for a new approach. The brand realized that achieving more satisfactory results for its business required the adoption of a new tool. The challenge, therefore, lay in finding a more effective solution that not only collected a larger volume of consumer feedback but also turned that feedback into valuable insights to enhance their products and services, increase customer satisfaction, and boost their presence in the market.
The Choice It was in this context that, in mid-2022, Midea established a strategic partnership with Vurdere, a collaboration that has been generating exceptional results since then.
"Different from other product review tools, Vurdere brings a different experience to our customers, like a kind of social network with interactions on product pages. This makes our customers interact with reviews in a dynamic and friendly way." – Adriana Bastos | Virtual Channels - Midea Carrier Brazil
The Solutions The first task of the Vurdere team was to test, analyze, and validate the plug-and-play tools on Midea's e-commerce platform. Aligned with the strategy they were pursuing to create a more authentic and engaging review space, the brand's online store now features the solutions Social+Expressions™ and Social+Reviews™, which incorporate Vurdere's Artificial Intelligence (AI) to provide a unique experience to consumers.
The AI behind these solutions enhances the authenticity of reviews, optimizes the time involved, improves product visibility, and connects people based on common interests and social histories, resulting in a more personalized and efficient shopping journey for Midea's customers.
"We believe that word-of-mouth marketing is the most effective way to build a trustworthy brand accepted by customers. Nothing is better than the customer themselves sharing their stories and experiences with our products." – Adriana Bastos | Virtual Channels - Midea Carrier Brazil.
Furthermore, Midea has also incorporated the solutions Social+Displays™, Social+SEO™, and Social+Ring™ to generate more sales conversions and a personalized journey for customers. Thus, sharing experiences with products, whether good or bad, enables the creation of a relevant content community for future customers interested in the online store's products.
Engagement Fostering AI-driven engagement from Vurdere was the key to unlocking the full potential of Midea's online presence. As we analyze the insights presented in the graph below, it is worth noting that in the past six months, Vurdere's innovative solutions have delivered remarkable results for Midea in terms of the quantity of collected reviews.
The percentage increase in collected reviews compared to April 2023.
*Period considered from 09/01/23 to 09/19/2023.
As can be observed in the numbers above, even during the winter, it is worth highlighting the remarkable increase in customer active participation in the store between the months of August and September. This fact indicates that the solutions implemented by Vurdere not only maintained their effectiveness during periods of lower activity but also contributed to boosting customer engagement and brand interaction during these challenging times. Furthermore, the strategies adopted by Midea stemming from Vurdere's innovative solutions have the potential to mitigate the seasonal effects traditionally present in the HVAC sector.
Below are the data collected from June 2022 to August 2023, demonstrating the successful partnership between Vurdere and Midea:
- On average, about 33% of purchases made at Midea went through Vurdere's social platform, demonstrating the platform's involvement in Midea's customers' purchasing process.
- Customers who access through Vurdere have an average session value 1.4 times higher than those who do not use the platform. This not only indicates Vurdere's decision-making power but also highlights that customers found more value in each interaction with the online store, contributing to overall success.
- Similarly, customers who go through the social area created by Vurdere have an average conversion rate 1.4 times higher than those who do not go through the platform. This is due to the personalized engagement environment that attracted consumer preferences and provided customers with quality reviews and feedback from like-minded individuals.
- The incremental revenue represented by Vurdere was 14.5%, which translates to a return on investment for Midea of approximately 300 times.
In light of these qualitative and quantitative indicators, it is important to emphasize that by creating an environment in which customers can share opinions and connect through shared interests, engagement and conversion levels have soared. This circumstance underscores the power of social commerce stemming from Vurdere's innovative solutions, as the construction of a sense of community among customers has had a positive impact on Midea's online store operations.
The collaboration between Vurdere and Midea represents a successful e-commerce partnership. Through AI-driven personalized engagement, they have achieved improved conversion rates, increased revenue, and built a strong brand community. This case illustrates the transformative power of intelligent customer engagement in e-commerce.
The main results achieved by Midea since the beginning of the partnership until August 2023.
"Vurdere is a highly organized company in project execution and in monitoring key performance indicators with their clients. Since we implemented the tool, we've gained much more visibility into consumer opinions about our products, and our metrics have been improving. The success model is ideal for mutual commitment." – Débora Secundo | Ecommerce Marketing Manager
As noted by Débora, mutual commitment and the constant pursuit of excellence are the keys to the enduring success of this strategic alliance. Looking ahead, Vurdere and Midea are setting new standards in customer engagement for online commerce, serving as a great example for companies seeking to transform and revolutionize the customer experience in their online stores.
Experience Vurdere on your online store! Inspired by the success story of Vurdere and Midea? It's time to explore how Vurdere's solutions can drive your business. Contact us now and schedule an exclusive demonstration for your website.