"People love the thrill of finding a great deal - discovering the best product, at the best price - and we’re able to serve that experience nearly every time a user visits our site."
Josh Meyers, CEO, Slickdeals
Slickdeals' CEO, Josh Meyers, sat down with Katie Perry from The Millennium Alliance's #MillenniumLive to discuss Slickdeals' unique shopping platform.
In the interview, Josh covers what makes Slickdeals so compelling to advertisers, its position in the shopping journey, the most important thing brands should focus on to engage shoppers, and how Slickdeals continues to stay "sticky" with consumers. Catch the video below or read the transcript!
Hi everyone, welcome to Millennium Live. My name is Katie Perry and today we're joined by a very special guest, Josh Meyers, who's the CEO of Slickdeals. Thank you so much for joining us today, Josh.
Thank you, Katie.
So, I know many of us have heard about Slickdeals and I know the site is gaining so much momentum, but can you provide us with a little bit of an overview for the people who may not know? How do consumers interact with your product?
Absolutely! So, Slickdeals is the only shopping platform powered by millions of real shoppers. Our goal is to help savvy shoppers win at shopping and we do that by providing insights from millions of real people on what products to buy and where to buy them for the best price. Slickdeals offers a broad suite of tools to help shoppers win - a personalized deal feed, articles and videos, a loyalty program, and a browser extension. We aim to support the shopper’s journey from start to finish.
So I know that Slickdeals’ engagement and session times are bar none. What makes the site so sticky and why do consumers keep engaging with you?
You know, it's simple. People really love the thrill of finding a great deal and discovering the best product at the best price, and we're able to serve that experience nearly every time a user visits our site.
In much the same way that consumers log on to Instagram everyday to check what’s new in their social feed, Slickdeals is social and interactive. Our users are checking back regularly to see what new products and brands other shoppers have discovered. Comments and voting provide an element of social proof that not only creates excitement but inspires urgency and purchase confidence.
That’s why 40% of our monthly app users come back at least daily, sometimes multiple times per day! Few if any other eCommerce sites are able to create that kind of engagement. Our content is especially unique and compelling because it's exciting to see what other shoppers have discovered, especially at a great price.
Absolutely. So Josh, how should brands think about where Slickdeals sits in the user’s shopping journey?
From an advertiser's perspective, Slickdeals is the holy grail of incremental sales. Shoppers often come to Slickdeals with no product in mind, they come just to see what we have because it's exciting to see what other shoppers have discovered. Often that leads to purchases of a new product or brand that the consumer had never considered before. What we've captured is the ability to make shopping fun and entertaining and drive discovery; and that drives incremental sales.
I'm curious, how does Slickdeals work with brands to drive growth and consumer engagement?
Slickdeals users are a highly attractive audience. They over-index to higher income and education, they clearly have disposable income and they are savvy in how they deploy it.
We work very closely with retailers to achieve their objectives, whether it's introducing a new product, boosting sales, or winning back customers. We provide our partners with 1:1 account management to collaborate and help guide them to success on our platform. We provide targeted sponsorship and advertising opportunities to help reach target audiences and boost sales.
What would you say is the most important factor for brands looking to engage with avid online shoppers?
It is critical to be present at every stage in the shopping journey
There’s plenty of evidence to suggest that your relationship with the consumer is strengthened with the more integrated touch points you have, so it’s important to nurture top-of-funnel brand marketing as well as bottom-of-funnel performance marketing. Slickdeals unique ability to generate top of funnel demand based on deal discovery and its position as a trusted shopper resource present a powerful complement to an overarching brand and performance marketing strategy.
I want to ask two quick questions about Slickdeals – can you tell us what's in the future for Slickdeals and what are you personally most excited for?
The complexity that shoppers face continues to increase.
At Slickdeals, we’re constantly enhancing and broadening our tools to achieve our objective of helping savvy shoppers win at shopping. I'm most excited about the personalization features that we've launched along with first-party data targeting, dramatic increases in improvements to the user experience, as well as to the targeted opportunities that we're providing advertisers.
We've also launched a browser extension that allows users to take Slickdeals with them in the browser in every shopping journey, Slickdeals Rewards which allows users to earn loyalty points that are redeemable, and our editorial content, both video and written, which is now being syndicated out to MSN, Apple News, SmartNews and other outlets.
That sounds very exciting! I don't want to keep you too long so I just have one final question for you. What is the secret to an advertiser's success on Slickdeals?
Great question, today's consumers are very savvy. They’ll open as many as 10 tabs in a browser just to make a single purchase. In our surveys, users have reported that 50% of shoppers in general would spend more than an hour researching a product to find the best value. Slickdeals is uniquely at the epicenter of this type of shopping activity.
As one of the most trusted shopper intelligence platforms on the internet, we can give you insights into what is going on in the world of real shoppers. By partnering with Slickdeals, you’ll be positioned for success, not only on our platform, but beyond. What Slickdeals can do is help you hone your message to be successful with consumers who are increasingly savvy.
Thank you so much Josh, it was a pleasure having you join us and learning more about Slickdeals. We're so excited to see what the future holds – it sounds like you have some really amazing things coming.