Simba Sleep, a leading technology brand, started in the mattress industry in 1979, supplying the thread that went on to be used in over 50 million mattresses in over 35 countries. In 2002, Simba diversified into mattress design and supply, setting out to create the ultimate mattress that would trump all others.
Consumers quickly jumped into bed with the Simba mattress, drawn in by the quality of the product. However, many could not afford to make a one-off payment, as mattresses ranged between £500 to £1000. To combat this issue, Simba was using an interest-free, instalment-based payment method but was not happy with the results being achieved. This is when DivideBuy entered the room.
Simba was using an interest-free, instalment-based, payment but it found the conversion rate of customers to be low. Many customers using this method were abandoning their payments in the checkout and Simba had no visibility on why this was happening. This is a problem Simba needed to fix but their interest-free credit provider at the time was not able provide the necessary data needed to fix the issue. This is when Simba was approached by LendTech company DivideBuy, who understood the problems it faced and presented them with an industry-best solution.
“DivideBuy has a proven success with conversions, so we were convinced that its offering could solve the checkout problems we were experiencing and lead to a better ROI.” – Jon Moore, Head of Ecommerce, Simba.
DivideBuy offered Simba a tool that not only provided the necessary interest-free credit payment option, at an increased speed, but could also track the customer journey across its e-commerce website and discourage cart abandonment by providing an intuitive user experience. Simba decided to trial DivideBuy alongside its current provider and the results were outstanding, with conversion rates increasing against its competition. What was originally a two-week trial lasted nine weeks, and after that DivideBuy was permanently on board.
DivideBuy achieved this increase thanks to its quick and simple sign-up process that works to the customers benefit by retaining interest in the sale. In addition, DivideBuy’s high rate of acceptance meant that more customers were able to take advantage of instalment-based payments. In addition, DivideBuy showed customers the various options for splitting up their payments earlier in the process before making their purchase, which made the final check-out significantly easier and faster.
“We were supported by a lead developer throughout the entire process, with DivideBuy’s technology integrated directly into the Simba platform. This made the checkout process much easier than with our previous provider,” Jon explained. “After nearly a year in partnership, Simba has tracked a noticeable improvement on both a product and a service level.”
Main benefits of the Simba-DivideBuy partnership:
Increased order rate by 25% against the previous provider
Higher rate of customer conversion
Improved quality of customer service
Enhanced checkout experience with reduced friction
Customer tracking capabilities
Ongoing support to further increase conversion rates
“I would absolutely recommend DivideBuy to other businesses looking to implement an interest-free credit solution. DivideBuy will work directly with you to tailor a journey that works to your business’ needs, like it worked with us to create a solution that helped us hit our KPIs.” – Jon Moore, Head of Ecommerce, Simba.