Publisher Spotlight: Letyshops
Can you briefly introduce yourself?
My name is Kate Buinovska. I have over 5 years of experience in Digital Marketing for e-Commerce. Now I am Country Manager for the DACH Region in Letyshops and responsible for establishing business relationships with core advertisers on the DACH market.
Can you introduce Letyshops and the core business values?
Letyshops is the biggest and most commonly used cashback service in the CIS market, Poland, and Spain. For over 6 years more than 12 million customers from Europe, Latin America, USA, Canada, United Kingdom, India, and Australia made 48 million orders and received more than 14 000 000 EUR as cashback.
Letyshops works with more than 30 affiliate networks that represent more than 2400 online retailers all over the world. We receive a negotiated percentage of purchase price for referring clients to the shops. Part of that amount is paid to a shopper and we obtain the rest.
Our business motto is to help people gain a part of their expenses back. You can’t lose anything while using a cashback service, but can receive a small profit. Of course, at first glance, 3-10% of cashback seems meaningless, but when you buy online at least once per month, you can save almost 1250 EUR for a year.
What would you say are the biggest benefits for an advertiser working with Letyshops?
Letyshops has been active on the market for a long time already and is presented in several countries (we take position of the leading cashback service in more than 5 countries). That proves that Letyshops has established itself as a reliable partner.
We know that cashback affects consumer’s desire to make a purchase. And that is why we are not afraid to experiment and create collaborations that are equally effective for our partners and users.
We cooperate with top influencers on each market where we are presented and with their help, we raise both our and our partners’ brand awareness. We like to give away valuable prizes (the last time those were Apple gadgets) just to consolidate the knowledge that cashback can bring significant benefits to our users. Cashback can be quite valuable, and one shouldn’t lose an opportunity to use it.
The most important thing in local markets for us is to build strong business relationships with corresponding e-Commerce companies to develop a region. For example, thanks to close cooperation and identification of partner needs (new clients), we have developed a special marketing activity plan for the partner who is among the top 10 online shops in Germany. As a result, 40% of users that came from LetyShops were NEW for this shop. This is a very large proportion of new customers, taking into account brand awareness of this store in Germany.
Tell us more about your audience and what types of advertisers do you work best with
Our core audience in the DACH region are young women (35%) and men (65%) between the ages of 18-25 (34%) and 25-34 (41%). They prefer to shop in marketplaces (30%), buy gadgets, hardware (20%) and clothes (15%). Their average bill per order is 290 EUR.
We prefer to work with advertisers, which have interesting offers for our audience – hardware and electronics shops, fashion and beauty brands, marketplaces as well as travel offers.
What makes Letyshops an exciting company?
We are very ambitious and don’t plan to stop. Our North Star Metric is to increase the number of Monthly Active Buyers all over the world. It’s very inspiring to work with motivated enthusiasts and create great things together.
Any exciting plans coming up in the next 12 months?
All our plans are exciting. We launched Letyshops in several countries this year (US, UK, India, Australia, New Zealand) and we are developing not only cashback but other products such as nonsimple cashback as well. It means that our aim is to create an ecosystem for useful and pleasant shopping. For example, LetyClub is a community where users share the best discounts and special offers from both online and offline stores, Letyprice is a special tool for monitoring prices for items with cashback, Letybank is a credit card service for online and offline shopping. The Corona Crisis hasn’t spoiled our plans. The ambitiousness of our goals has only increased due to that.
Where do you think is the Affiliate space heading to in the next year and what are the main market disruptions?
I think that the current corona crisis has pointed out a lot of weak points in different business models. Regarding the affiliate business that is probably the lack of transparency in cooperation between all participants. We all know that in the midst of the crisis, many companies unilaterally halted activity, reduced commission or delayed payment of already confirmed commissions etc. without proper communication with partners. But it is the trust and cooperation that the whole affiliate marketing is built on. Therefore, I believe that all of us – CPA networks, advertisers and publishers – should try to build transparent and trusting relationships in the future, be ready to make concessions and help each other, and that will make the whole affiliate branch much more stronger.
What is the most exciting time of year for you as a business?
The most challenging time is November-December. We simultaneously support 3 grand events at all our markets: 11.11 (Single’s Day), Black Friday, and Christmas Sale.
But frankly speaking, it’s more compelling to make promos during “unpopular” periods. That’s when our creativity turns on. We come up with additional promotions in collaboration with our partners. For example, exclusive discounts, an increased percentage of cashback or Lety-codes in a number of stores presented on our website. The idea is that LetyShops is not only for those who are looking to save money but also for those who like to get more benefits and comfort from shopping. Our goal is to remind that cashback is always available and does not depend on the sales’ season.
Is there anything else you’d like our advertisers to know?
We are always ready for experiments and new collaborations. So if you are searching for additional value for your customers or you are thinking about how to increase frequency, a number of purchases or how to grow the average bill – don’t hesitate to contact Letyshops.
What is one fun fact about Letyshops?
In my opinion, we have one childish but cute tradition. We have a large scratchable world map hanging on the wall in our office. When we launch a new country we scratch that off. One day we noticed that a part with the USA started getting unstuck. We decided that our map is giving a sign to us and immediately started analysing the US e-commerce market, competitors, payment systems in this region, and so on. And just in a couple of months, we have scratched the USA off. So we are waiting for new signs from our map 🙂
Thank you Kate for the interview and the insights!