Using Affirm as a powerful marketing tool to sell high-end shoes
Goal: Offer customers a convenient way to pay for their purchases over time in a way that best fits their monthly budgets.
Paul Evans has taken the fashion world by storm with its line of stylish and high-quality men’s shoes, belts, and bags. Co-founders Evan Fript and Benjamin Earley left their lucrative careers on Wall Street to launch the e-commerce retailer in order to solve a very real problem facing male shoppers.
“For men who appreciate the importance of shoes, there are very limited options in brick-and-mortar stores,” Fript, CEO of Paul Evans, explains. “Quality, good-looking shoes shouldn’t cost shoppers a thousand dollars a pair.” Traditional brands sold in-store cost an arm and a leg to compensate for rent and salespeople, not to mention high margins. Suddenly, a light bulb went off. “Why not make our own shoes and deliver them directly to customers,” Earley said. “No middleman markups. No retail space to rent or lights to keep on. From our hands to yours using the power of the Internet, with an assist from the delivery guy.”
So Fript and Earley packed their bags and flew to Italy with one goal in mind: design stylish, comfortable shoes made from the highest quality materials they could find, for delivery straight to shoppers. And this is how Paul Evans started and grew into a brand coveted by men across the country
Affirm’s impact on Paul Evans’ business
Paul Evans began working with Affirm to offer their customers a convenient way to pay for their purchases over time in a way that best fits their monthly budgets. Since then, sales and revenues have skyrocketed because of Affirm. Revenue for Paul Evans has increased by 50 percent, and the average order value has increased by 21 percent. Additionally, site traffic has risen by 140 percent as a result of advertising Affirm loans to their customers.
The key to their tremendous success came when Paul Evans quickly realized that Affirm wasn’t just a great payment option, but that it could also serve as a unique marketing tool for the company
Affirm increases sales & revenue for Paul Evans
“Shoppers have options in terms of high-end shoes. What they haven’t seen before are high-end shoes that they can pay for in fixed, monthly installments. That is a powerful point of differentiation from our competitors that we could use to engage existing and prospective customers,” said Fript.
Paul Evans includes messaging about Affirm in the majority of its creatives throughout the conversion funnel, from emails to paid social media, to onsite messaging on the homepage, product pages, and cart page, and even in abandoned cart emails. What has been most effective in converting sales is letting customers know how much their purchase could cost them per month if they transact using Affirm.
“While our shoes are more affordable than average, some customers are still hesitant to pull the trigger when they see a $369 price tag,” said Fript. “But when they see that they can pay as low as $34 per month using Affirm, the decision to buy becomes an easy one.”
Additionally, Paul Evans recently started offering 0% APR loans through Affirm, so eligible customers can pay for their purchases over 3, 6, or 12 months at no borrowing cost. “We are a luxury brand, and we prefer not to offer price discounts that can cheapen the brand. Instead, we are offering customers a free way to pay over time, at a cost to us that is much less than what we would pay if we gave a price promotion. Our customers love it, and we love it,” Earley stated.
Paul Evans’ mission has been to disrupt the men’s shoe industry. “Affirm has helped us also disrupt how fashion brands conduct marketing,” said Fript. “Together, we are creating a product that gives our shoppers a simple way to wear the stylish shoes they desire.”