SPLITIT LTD (Company) Objectives The Risk, Audit and Governance Committee (Committee) has been established by the board of directors (Board) of the Company pursuant to article 47 of the Company’s articles of association. The Committee’s primary objective is, in
“Our relationship with Splitit has been fantastic so far. We have a very clear and active dialogue, which I love. One of the big things we’ve done with Splitit is figure out best practices and messaging in tandem, which optimizes our objectives and accurately reflects the most important value props of both brands. Splitit has definitely added an element to our business that has been tremendously useful.”
Promoting Splitit Shows Positive Impact on Conversion for AceMarks
AceMarks is a direct to consumer premium Italian shoemaker, combining the old traditions of shoe making with new business models to make luxury more affordable. Their shoes are made 100% in Italy by fourth generation artisan shoemakers and sold online all over the world.
Paul Farago, Founder and CEO, is a second generation shoemaker who wanted to branch out from his family business and build something of his own. AceMarks was officially launched in 2016 on Kickstarter and has since joined strategic partnerships with companies like Splitit to help continue to grow and reach new audiences.
Partnering with Splitit
The search for the perfect installment payment partner began with their mission to make luxury more affordable.
AceMarks initially began offering a different financing solution to keep up with their competitors who were already offering pay over time solutions. However, after receiving customer feedback and realizing that the company’s business model did not align well with their brand, they set out to find a better solution for their target demographic of savvy shoppers.
During a Shoptalk conference in Las Vegas they met Splitit along with several other companies offering installment payments.
How AceMarks Uses Splitit to Improve Business
AceMarks onboarded Splitit in March 2019 and has enjoyed a great partnership with them over the past two years, even during the pandemic. In 2020, from Black Friday through the winter holiday season, the company saw the share of payments made with Splitit double.
The company tracks their visitors closely, surveying key anxiety points for shoppers as they leave their website. The biggest worry, they found, was regarding sizing issues. They are using Splitit to minimize this issue for shoppers with their “try it before you buy it” messaging.
AceMarks works Splitit into their A/B testing regularly, using Splitit copy in promotions, email campaigns, and throughout their website. Currently, they are promoting Splitit in their cart abandonment email campaign, which has proven to be a very effective step in their flow, resulting in a 10% click-through-rate and 2.7% conversion rate. Since implementing Splitit into their checkout process, they have seen their average order values increase by 10% and their conversion rate double.
The company feels that Splitit offers them the ability to get that extra bit of affordability into their shopping experience, which is directly in line with their mission.