Just two weeks after Betabrand began offering Affirm financing on its site, it saw some incredible results. Average order value was 35% higher among those who checked out with Affirm versus those who didn’t. The Betabrand team believed that offering a friendly financing solution like Affirm would foster a better relationship with their customers and grow the business. They were right, and here’s why:
Mutual Belief in Placing the Customer First Every Step of the Way
Betabrand is an online fashion community that crowdsources ideas and crowdfunds them into existence. It is, at its very core, a company that puts customers first. Placing customers’ wants and needs at the core of business decisions is key to Betabrand’s success. The community collaboratively proposes products, votes on them, funds their favorites, and submits photos for the platform. Betabrand has grown brand loyalty by giving shoppers what they want.
The retailer is best known for the success of its women’s pants, particularly the popular Dress Pant Yoga Pants. According to the Betabrand team, “We look to create fashion with a function.” In crafting each new product, they focus on the “why”—putting a lot of thought behind everything from the choice of materials to the various design elements. They source ideas from their customers, who become “fans” and brand advocates invested in each step of the retailer’s growth.
Aaron Magness, Betabrand’s chief marketing officer, was happy to find a financing partner that fit with Betabrand’s ideals and image. “I thought there were a lot of brand synergies between Betabrand and Affirm,” he said, “and as soon as we began offering Affirm, my hunch was validated.” Magness added, “Keeping our customers well informed is a cornerstone of Betabrand’s mission, and Affirm’s approach underscores that for us. It’s super transparent, so our shoppers know up front exactly what they’ll pay, and over what time period. We love that there are no hidden costs or fees with Affirm.”
A Community-Driven Approach—Even With Payments
Not only does Betabrand produce products inspired by its community’s creative ideas, it also works to make the entire shopping experience as easy as possible. To better align its payment options with the preferences of their community, the team eagerly searched for the perfect solution. They chose to partner with Affirm because it provides a uniquely customer-friendly solution, unlike the various card wallets and other payment options they could have thrown into the checkout funnel.
Betabrand recognizes that millennial shoppers are shifting away from a reliance on credit cards. They’re taking more control of their finances and are more budget-conscious. When shopping for clothes, millennials—as with most consumers—want to craft an outfit by buying multiple items at once , as opposed to piecing one together from several purchases. However, most do not want to part with a large chunk of discretionary dollars to get their outfit. When Betabrand shoppers choose to check out with Affirm’s easy financing, they can pay on a schedule that fits their budget, splitting their purchase into simple and transparent monthly payments.
Affirm’s process aligns well with Betabrand’s shopper-centric website design, which makes it as simple as possible to shop and pay. Affirm is integrated in both the product page and the shopping cart, so the customer is empowered at each step of the journey to make informed purchasing decisions.
“Integrating Affirm was fast and simple. We were up-and-running in no time,” said Magness. “Affirm also offers a variety of marketing programs that we’re eager to try. If our shoppers’ early reaction to Affirm is any indication of what’s possible, I can see this becoming an important, ongoing part of our strategy.”
Betabrand is driving fashion forward by giving its community the power to bring their desires and preferences to life. Affirm’s innovative financing empowers responsible shoppers to get what they want, when they want it. Together, Betabrand and Affirm have built a progressive partnership that boosts revenue by placing their customers first.