Web Analytics Can Help You Sell More
Do you know the reason why online store like Amazon and eBay are on top? Is that just because they have the revenue that can be invested in advanced software? Does this software help them collect and analyzes the shopper data? Yes that’s right. When the customers move through these web-stores, the advanced data tools track all the customers, clicks, and conversion to understand the behaviour of these customers and also find out the obstacles they face to optimize the marketing campaigns and have an idea about the inventory needs. These analytics enable them to increase their conversion and drive sales.
These tools are not cheap. Due to this these tools have become accessible to only the top retailers who have deep pockets that are full. But with the latest developments in the field of web analytics it has somehow levelled the play field. The addition of Bigcommerce platform has helped online stores of all sizes with small budgets to use the power of these sophisticated data that will help them sell more.
Here we will discuss how you can utilize these data to work for your online shopping store and improve your business strategy.
Understand your customer behaviour
It is important for any successful business to understand the audience. Like the big ones do, you also need to collect data so that you can have a 360 degree view about all your buyers, which can then help you drive up-sell and cross-sell, etc. Did you know that the reason why Amazon still continues to dominate is because they utilize data driven information to suggest up-sell, cross sell and bundled products? This is derived based on what customers have purchased earlier, or what they’ve checked, and what similar customers have purchased.
Keep this in mind and search for the tools that will help you understand your shoppers like never before. These tools will also help you to track all the transactions and interactions and finally collect insights about your shoppers that will help you to determine from where they come, what they are searching for, what are they shopping, and what force them to add a product into the shopping cart and finally check out. When you start better understanding your visitors, you will be able to make wiser decisions that will also help you grow your business and also deeply relate to your customers.
Real Time Optimization of your marketing campaigns
The number of online shoppers is increasing and due to the best retailer who have access to the real-time data will help them know exactly where these shoppers are coming from and immediately plan out the ways to make them convert. It is important that you get hold of these rich data in real time and optimize your eCommerce store, especially during the holiday season when the sales have high impact.
Imagine you launched a new marketing campaign on your social networks and immediately you got a few visitors. How do you feel now? Ya, it obviously feels great, but what you need to do is analyze these customers. Have they bought from you earlier? When did they last purchase? How much did they spend? Are they using a mobile device to view your site? Did this have any effect on their response? How do they respond to promotions sent through texts, emails and social media? Based on this you can decide whether you should send them a text message with special promotion tailored for them based on the average order value. Thus, the real-time data and related insights are the key to win the competition with big retailers.
With the help of SaaS-based platforms things have become much easier for the merchants and now they don’t require multiple tools on different platforms to analyze their customers and thus can make strategic decisions in moments.
Better inventory decisions
Using the right analytics solution, merchants can now automate different processes and sell smarter. Now you don’t have to wait for the sales history to know the details about your inventory. With the help of robust analytics you can know everything immediately so that you can make stocking decisions and improve your stock margin. So, no more over-purchase. Also you can know the under performers easily so that you can launch sales and get rid of them. This will also help you to lower down abandoned cart rates. Now you can also optimize your web-store, just in a way the big ones do.
You don’t need sophisticated analytics to grow business, you only need a customer-centric solution that will help you sell more products that your customers love, and then improve profits using smarter business decisions.
The best eCommerce intelligence solution will be the one that you can easily use when you are getting started and will also help you scale while you grow.