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Malomo Raises $ 5 Million to Promote Repeated Purchases Through Shipment Tracking

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Shipment tracking platform Maromo Today, it announced that it has raised $ 5 million in seed funding. The company says it will use its capital to make strategic hires and develop new ones. big data We provide tools to expand our international career support while expanding our customer base. The funding will allow merchants to better control their post-purchase experience by integrating their products with marketing automation platform Claviyo, Maromo said.

Last month, consumer spending in the United States fell year-on-year, but pandemics as a whole are supercharging e-commerce.according to Data from IBM’s US Retail IndexBusiness closures and shelter-in-place orders will accelerate the transition to digital shopping by five years, with online shopping projected to grow by nearly 20% in 2020. Based on BMC and Mercatus survey data, E-commerce grocery order On its own, it totaled $ 5.9 billion, up 3.6% from $ 5.7 billion in August.

Founded in 2018 and headquartered in Indianapolis, Indiana, Malomo uses shipping tracking technology to drive repeat sales. The solution allows retailers to share shipping updates with buyers via web pages, app notifications, and email. When the customer confirms the order tracking, they will see the products, advertisements, and other content that Malomo offers to facilitate additional purchases.

Encouraging repetitive purchases remains a challenge for retailers in the explosive e-commerce space.that is Estimated 73% of first-time buyers do not make a second purchase from the same online seller. However, according to Malomo CEO Yaw Aning, the delivery experience can have a significant emotional impact. 96% of respondents to MyCustomer Survey A positive shipping experience said they would encourage them to shop with retailers again.

“The number one question for billions of people who buy things online is’where are my orders?'” Anning said in a press release. “Amazon spends billions of dollars [its] In the post-purchase experience to alleviate customer anxiety about that question, independent retailers who sell their products directly to consumers through their website do not have the same resources to compete. We level the competition by helping retailers own the customer experience from the buy button to the front door and beyond. We support post-purchase revitalization as a channel to promote growth, maintenance and trust with our fans. “

On average, clients have cut support tickets in half and have increased repeat purchase rates by 2% to 3%, according to Malomo. According to Customer Grace Eleyae, CTR has increased by 18.7% from tracking pages, and repetitive email and page purchases have increased eight-fold.

“When COVID forced SMEs to rely entirely on online sales, it became difficult for merchants to maintain meaningful customer relationships to build trust,” said Chris Zeoli of Malomo investor Base 10 Partners. Said. “Maromo’s transparent and proactive post-purchase shipping tracking platform is an easy return on investment for merchants looking to fully delight their customers throughout their purchasing and shipping experience, and to acquire and retain them.”

In addition to Base10, Malomo’s funding round participants include existing investors Harlem Capital, High Alpha, Hyde Park Venture Partners, Paul Singh, and new strategic investors The Vaan Group and CX Collective. Included, Curtis Cheng, Jeremy Cai, Alexandre Perrier. The company’s total funding is currently over $ 8 million.

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Malomo Raises $ 5 Million to Promote Repeated Purchases Through Shipment Tracking

https://venturebeat.com/2021/04/07/malomo-raises-5m-to-drive-repeat-purchases-through-shipment-tracking/ Malomo Raises $ 5 Million to Promote Repeated Purchases Through Shipment Tracking

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