Background & Challenge
ThredUP is a fast-growing online consignment retailer based in the Bay Area. They recently closed series F funding of $175MM and growing with strong technology, analytical acumen, and recent advanced partnerships announced with brands like Gap and Macys.
The ThredUP team sought out a way to inject life into their affiliate program. They had stood up strong performing paid marketing channels but had yet to see affiliate really “work” for them. They wanted a rigorous and analytical growth minded agency to keep up with them and sought affiliate partners to help increase their % of new customers acquired. They needed an adept and experienced affiliate strategy and execution allowing them to get the much needed growth their affiliate, partner, and influencer marketing plan.
RBL deployed a team of experienced affiliate managers and quickly launched several tactics to immediately clean up & scale the channel.
- Cost Savings: Restructured publisher commissions to fall in line with contributions and revised network contract to eliminate $60,000 in annual excess costs.
- Publisher Amplification: increased publishers 83% in the first 90 days. Identified known performers & enacted targeted growth campaigns by publisher segment. New publishers accounted for 21% of revenue contribution
- Increased AOV +$15 for new customer purchases, driving higher Lifetime Value (LTV)
- Content Focused Strategy: created influencer outreach strategy & deployment utilizing look-books, gift guides and gift cards as the tools for growing the social following on Instagram
Creative Activation Campaigns for existing partners. RBL utilized a range of activation campaigns based on an increased payout, bonus structure, & credit incentives. This helped get us to a program Return On Ad Spend (ROAS) of $7.63!
ThredUP is a great example of an advanced fashion retailerWe were able to take over an existing affiliate program utilizing Impact SaaS tracking technology. We came in and recalibrated network fees, commission structures, and program priorities to save ThredUP nearly $100k in revenue and increased program revenue 2X in less than five months.
As a result of some agile recruitment effort, here is a snap shot of partner growth in just four months:
Here is a snapshot of revenue per month over the partner growth in just four months: