Wishpond Technologies Ltd said it has actively worked on enhancing the product offering, customer support, and sales coverage of its Winback business - acquired in December 2021 – resulting in the platform performing better than expected.
"Winback is proving to be a key acquisition for Wishpond," the company's COO Jordan Gutierrez said in a statement. "Winback offers many great opportunities for eCommerce stores to grow their revenue. Winback's abandoned cart SMS marketing is a powerful marketing tool. Hence, we've had tremendous success in introducing Winback to our existing Wishpond clients."
The Vancouver, British Columbia-based company noted that the number of Winback's customer installations is increasing, and it is now integrated across Wishpond's departments and sales channels.
“Since the beginning of this year, Winback has increased the number of clients by over 50%, including more than 180 Wishpond clients who are now trialing the platform under promotional pricing plans,” it said.
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The company noted that Winback provides an automated short message service (SMS) marketing platform for small and medium-sized businesses, including a cart abandonment app for Shopify (TSX:SH., NYSE:SHOP) merchants, which installs with one click.
Winback allows Shopify (TSX:SH., NYSE:SHOP) store owners to increase their revenue through high return-on-investment cart abandonment SMS campaigns. The cart abandonment app is triggered when a shopper browses but doesn't add anything to their cart.
“This service allows clients to use a tool that is proven to increase revenue and stickiness for customers visiting their sites,” it added.
Wishpond has developed and launched new innovative features to the Winback platform since the acquisition. Some of the powerful new features that have been added include:
- "back in stock" messages to notify customers when a store has new inventory of items that were sold out
- product exclusions that let customers be very specific about which products to show in the browser abandon popup
- upgrades to increase the Winback platform's performance and reliability
“The Winback business is attracting new clients through the Shopify App Store, Google Ads, webinars, and newsletters,” Wishpond said, adding that it has also started using its outbound sales team to showcase the platform to its clients.
Wishpond offers an all-in-one marketing suite that provides companies with marketing, promotion, lead generation, and sales conversion capabilities on one integrated platform, replacing disparate marketing solutions for a fraction of the cost.
Wishpond serves over 3,700 customers who are primarily small and medium-sized businesses in a variety of industries. It employs a Software-as-a-Service (SaaS) business model, where substantially all its revenue is subscription-based recurring revenue, which provides excellent revenue predictability and cash flow visibility.
Contact the author at jon.hopkins@proactiveinvestors.com