Last Updated on: 1st May 2024, 06:45 pm
Made With Intent has announced a successful £1.5 million funding round to enhance their segmentation platform, which places customer intent at the forefront of eCommerce strategies. The funding, led by Mercuri and supported by Portfolio Ventures and Haatch, will bolster the company’s product development, marketing, and partnership initiatives.
The founder, David Mannheim, has spent over a decade in eCommerce, during which he pinpointed significant inefficiencies in conventional retail strategies. He argues, “The current measures of success are the problem. Metrics like conversion rate, and therefore the actions retailers take to improve them, are short-term, retrospective and aggregated. This creates a race to the bottom. A numbers game that forgets how people really buy.”
The platform aims to equip retailers with a more nuanced view of their website performance and a predictive targeting system that reacts to consumer needs in real-time. This intent-based approach has already proven to yield a 9.4% average increase in revenue compared to standard practices.
Addressing the limitations of traditional eCommerce, David remarked, “eCommerce is often guilty of trying to convert all customers at all times. It focuses on the minority who are ready to buy, at the expense of those who are not. Our product helps retailers be appropriate for every customer. To progress both in-market and future buyers.”
Early adopters of the Beta platform, including well-known brands such as Ernest Jones, Bensons for Beds, and Rapha, have aligned their selling strategies more closely with consumer buying patterns, thanks to Made With Intent. Nik Fletcher from Rapha shared his enthusiasm for the product: “the closest we can get to understanding subconscious visitor signals, like we can in a physical store.”
By analyzing over 250 different signals from online shoppers, the platform provides predictive intent metrics in real-time, enabling automatic segmentation of visitors based on their buying intent and engagement.
Moreover, the platform’s design facilitates easy integration with over 40 existing marketing tools, allowing eCommerce teams to improve shopping experiences effectively.
Alan Hudson from Mercuri praised the innovative approach of Made With Intent: “Made With Intent has embraced first-principle thinking and a decade of insights to shake up the vast eCommerce market,” he said. “It empowers online commerce, making it more personal and focused on the quality of prospective customers. The product roadmap excites us and, importantly, those using it.”
David Mannheim summed up the mission of the company: “Made With Intent is about more than a platform. It’s about a movement to create a more personal, human eCommerce. This investment brings us closer to fulfilling our mission.”
