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JAN 19
2013
Fanplayr, a startup based in Palo Alto, has recently secured a $2 million seed investment round led by Denali Venture Partners. The company, founded two years ago, aims to enhance conversions on e-commerce websites by providing an Amazon-style recommendation, upsell, and sales conversion mechanism. Unlike standard website data tracking tools such as Google Analytics, Fanplayr offers more guidance and minimal hassle to websites of all types. With the new funding, the startup plans to expand its sales and marketing efforts to reach a broader audience.
Fanplayr works by analyzing visitor behavior on websites and collecting at least a month's worth of data before taking action. By creating visitor profiles and comparing them to an extensive database, the platform can identify potential customers who share similar profiles with actual purchasers but haven't made a purchase yet. Fanplayr can suggest actions to convert these visitors into customers and can implement specific steps based on predefined profiles using converting traffic as a benchmark.
Simon Yencken, CEO of Fanplayr, explained in an interview that the platform delivers automated reports to e-commerce sites, showcasing visitor behavior insights, and recommending strategies to improve conversion rates. Unlike other products that simply provide data without analysis, Fanplayr has demonstrated conversion rate increases ranging from 20% to 50% and an average order value increase of up to 50%, depending on the company's size.
Fanplayr employs a performance-based pricing structure, ensuring that its services are effective in delivering actual conversions. This pricing strategy aligns with the startup's target market, which includes smaller and medium-sized e-commerce companies seeking to offer on-site shopping features similar to online retail giants like Amazon. These companies often lack the in-house engineering resources to develop such capabilities. Fanplayr aims to contribute as a key player in the emerging industry that supports smaller businesses in competing with established e-commerce players like Amazon. Other companies, such as Hong Kong-based package tracking startup AfterShip, are also part of this movement.
Fanplayr's core offerings include retargeting and personalized offers, which position the company well to cater to online merchants' growing concerns about keeping up with larger competitors. As the market evolves, Fanplayr hopes to play a crucial role in empowering smaller e-commerce businesses to seize similar opportunities and succeed in the online retail landscape.
For press inquiries please contact pr@fanplayr.com
