Affirm fundamentally transforms traditional shopping experiences by providing consumers with upfront, flexible payment plans, thereby streamlining the purchasing process for businesses and driving sustainable growth.
This profile remains unclaimed. Blurbs can only offer a partial, unverified case
study.
1.
Situation
High-tech fitness market competition
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Intense competition in high-tech fitness market
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Need to expand customer base
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Aimed to make high-end product affordable
Tempo, aSan Francisco-based company specializing in strength and cardio workouts with virtual training, faced intense competition in the high-tech home fitness market. The company aimed to expand its customer base and make its high-end Studio product more accessible and affordable. To achieve these goals, Tempo partnered with Affirm to offer extended repayment terms.
2.
Task
Launch extended repayment terms
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Introduce 48-month payment plan
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Increase conversion rates and accessibility
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Improve customer experience with affordable payments
Tempo's main task was to introduce a48-month, zero-interest payment plan for its high-end Studio product alongside existing 12- and 24-month options. The intention was to increase conversion rates, provide agood customer experience, and make the product financially accessible to abroader audience by offering lower monthly payments.
3.
Action
Implemented Affirm payment plan
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Partnered with Affirm for financing
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Rolled out 48-month, zero-interest payment plan
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Focused on affordability and customer base expansion
Tempo partnered with Affirm to offer anew 48-month, zero-interest repayment plan for the Studio product. This new financial option was aimed at making the product more affordable, thereby boosting sales and expanding Tempo’s customer base. This initiative was driven by astrategic goal to see lower payments as aviable budget option for abroader demographic.
4.
Result
Rapid growth in sales and customers
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39% increase in average daily checkouts
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11% lift in conversion rates
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Significant growth in younger customer base
Within six weeks of launching the 48-month payment option, Tempo saw a39% increase in average daily checkouts with Affirm and an 11% lift in conversion rates. Additionally, the financing option led to asignificant 16% growth in customers under 40 and a64% increase among those under 25, positioning Tempo well among younger, trend-setting demographics.
Keywords
EXTENDED REPAYMENT TERMS
ZERO-INTEREST PAYMENT PLAN
HIGH-TECH HOME FITNESS
EXPAND CUSTOMER BASE
INCREASE CONVERSION RATES
MAKE HIGH-END PRODUCTS AFFORDABLE
YOUNG CUSTOMER DEMOGRAPHICS
IMPROVE CUSTOMER EXPERIENCE
MARTECH CASE STUDY
BUY NOW, PAY LATER SOLUTIONS
The Blurbs 20
20 Frequently Asked Questions
Are they VC funded?
Affirm has raised several rounds of venture capital funding.
Do they do retargeting?
Affirm does not appear to offer retargeting or digital advertising services.
Are they CCPA-compliant?
As a financial services company operating in the United States, Affirm is required to be compliant with data privacy regulations such as the California Consumer Privacy Act (CCPA).
Do they do marketing automation?
Affirm does not appear to offer marketing automation services.
Do they have fortune 500 clients?
Affirm has partnerships with many large retailers and companies, some of which are Fortune 500 companies.
Do they assist in buying of media?
Affirm does not appear to offer media buying services or consultancy.
Do they help optimize marketing mix?
Affirm does not appear to offer services related to optimizing the marketing mix.
Have they existed more than 5 years?
Affirm was founded in 2012.
Do they prove effectiveness with data?
Affirm provides data on their effectiveness, using case studies to showcase the impact of their services.
Do they help acquire and retain customers?
Affirm provides financing solutions for customers to afford purchases, which can help businesses acquire and retain customers.
Are they a content personalization solution?
Affirm primarily provides financing solutions and does not appear to offer content personalization services.
Do they specifically offer email and SMS marketing services?
Affirm does not appear to provide email or SMS marketing services.
Are they a CDP that segments and acts on customer data and behavior?
Affirm is primarily a financing platform, not a Customer Data Platform.
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