Innovative wheel company kick flips into higher conversion with Fast Checkout
When you hear that saying about reinventing the wheel, folks usually aren't talking about Shark Wheel. That’s because contrary to the idiomatic metaphor, the California-based company did just that.
We think of a wheel as a circular object that moves perfectly when set in motion, but Shark Wheel found room for improvement by creating a 540-degree product that offers scientific advantages over the traditional wheel, Chief Operating Officer Zack Fleishman explained.
“We started Shark Wheel because we knew we had a shape that is found all throughout nature. Everything in nature moves in a sine wave, and we know that when you follow nature, you tend to have the best designs.”
Shark Wheel launched in 2012, but the company gained international attention after it’s namesake appeared on a 2015 episode of ABC’s “Shark Tank.” Fleishman and David Patrick, inventor of the Shark Wheel, made a deal with three "sharks" (Kevin O'Leary, Mark Cuban, and GoPro's Nick Woodman) to invest $225,000 for 7.5% equity and 10% in royalties until the original investment was paid back. The duo originally asked the investors for $100,000 for a 5% stake.
Shark Wheel began by selling skateboards, but the company now also manufactures wheels for luggage, medical carts, forklifts, and more. Shark Wheel touts products with less friction and more load capacity than the traditional wheel.
“We've had it university tested for years, lab tested, and we have significant advantages: how we go over rough terrain, how long the wheel lasts. We last 50% longer than any wheel in the world,” Fleishman said. “We sell to multiple Fortune 500 companies in different industries for that very reason.
“One of our most common pain points is how many clicks it takes to go from seeing a product that the customer wants to actually buying it.”
Fleishman said before installing Fast Checkout. “Some companies have that process streamlined and I can tell you that we don’t, and we've been trying to find that solution to speed up the process and make it really easy on the customer. People want to go as fast as possible and be able to have a seamless, easy experience.”
Then, Fleishman learned about Fast, a startup revolutionizing the shopper’s experience by eliminating the tedious routine of searching for a credit card, typing out an address, and remembering a password for every single online purchase. With Fast Checkout, customers can complete a purchase with one click in mere seconds.
“When I first heard about Fast, I think the name says it all,” he said. “We want it to go fast. That's what we wanted to do. We wanted to give the customers the quickest possible experience and get the product in their hands as fast as possible.”
Fleishman and company got just what they expected. Shark Wheel saw a 157% increase in conversions after installing Fast Checkout in September. Also, the average order value skyrocketed from $91 to $225, with 98% of orders coming from product pages (something only Fast Checkout can offer). By November, Fast was processing 30% of all Shark Wheel orders.
With conversion increasing 157% after installing Fast Checkout in September, Shark Wheel's average order value also increased 2.5X from $91 to $225 –– with a stunning 98% of orders coming from product pages.
Special artwork commissioned by Alee Plazas for the Fast Instagram account.
It’s been exciting to watch the wide range of businesses installing Fast Checkout over the last couple months –– everything from solopreneurs to larger enterprises with $100M+ in annual sales. Stay tuned for more case studies at fast.co/stories.