Coravin Achieves a 38% Increase in Affiliate Revenue in the European Luxury Wine Market
+71%
Voucher Sector Revenue Increase
+38%
AOV Increase
+33%
Revenue Increase
The Challenge
In an economic landscape where consumers were tighetning their belts, Coravin faced a daunting task. Known for their high-end wine preservation systems, Coravin’s products sat at a price point significantly above many competitors.
Despite their affluent customer base, the prevalent cost-of-living crisis threatened to destabilise sales.
The challenge was multifaceted: How does one grow an affiliate programme in an uncertain economic climate, especially when their products don’t naturally align with lower-funnel, cost-conscious marketing strategies like voucher and cashback schemes?
The Gen3 Approach
Embracing this challenge, our affiliate marketing experts devised an ingenious strategy.
We leveraged our extensive database of premium brands to craft a unique approach that married luxury with accessibility. By nurturing relationships with key voucher and cashback partners, we tapped into a network of affluent yet value-conscious consumers.
This strategy was complemented with a smart implementation of pay-per-click (PPC) advertising, a new venture for Coravin. Crucially, a dynamic commissioning model was introduced, balancing the need to drive revenue without eroding profit margins. The team’s savvy negotiation secured preferential partnerships and placements, enhancing brand visibility and enticing new customers.
The Results
The results were nothing short of extraordinary:
- Coravin witnessed a +38% year-over-year affiliate revenue increase, while commission costs only rose by 28%, exemplifying efficient spending. Notably, the cost per sale dipped from 3.29% in the previous year to 3.06% in the next.
- Average Order Value (AOV) soared to £199.11, a staggering +38% increase.
- The voucher sector alone generated an uplift of +71% in revenue, with AOV climbing by +39%, showcasing the effectiveness of the voucher strategy.
- Even in the loyalty and cashback segment, significant growth was observed, with revenue up by +33% and AOV increasing to £198.75.
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