Extending analytics to the web: moving from in-store to online


In a time when we all struggle to have more time to ourselves, having the option of doing your weekly shopping without the need to travel to a store, is priceless. However, many retailers are not using analytics effectively to enhance the shopper’s experience throughout their online channels; missing a great opportunity that could enable them to provide a more personalised service. In fact, through the use of their martech (marketing technology) solutions, traditional retail outlets can enhance their online store conversion rates by taking into account some useful insights:

 

Personalising the experience

When customers are visiting a shop, retailers can always count on their shopping assistants to help buyers through their journey: from finding a particular brand or product in an aisle to answering any questions they might have.

At home, this experience can be lost online, so what can retailers do to differentiate themselves from others and make the customer shopping experience enjoyable?

Personalising the experience as much as possible can be the key to achieve this. Identifying new customers vs existing ones can help online retailers to tailor their services in the most effective way. For example, in the case of a returning customer, data can be tracked in order to know what their preferences are when they buy and show particular recommendations when revisiting the site based on data from their last visit. A new customer would require a different experience, as initially there is not enough data from them to be tracked, so offering a quick guide through the website or asking a few questions could help the retailer discover what the customer is looking for.

 

Staying relevant throughout the entire customer journey

It’s important to ensure your customer doesn’t lose interest throughout their buying journey. Don’t just entice them into your site, make sure you keep them. Do you track analytics for where customers most often leave the site? Analysing this type of information can help you to rearrange parts of the website so that the customer journey is improved. For example, before they check out, what can you do to increase their average spend value by offering add-ons to match with their product selection.

Additionally, how do you currently handle abandoned cart customers? Through the use of analytics, you can check when a customer has decided to leave your site: after tracking the particular selection of products they last viewed, you may be able to contact customers to remind them that they haven’t completed their last purchase, or send them an offer to encourage them to return and buy.

Tracking all data

Retailers are often not gathering enough information about their customers during the buyer journey. Moreover, knowing how a customer came to your website in the first place is key when deciding where to invest your energy and marketing budget, and tracking data more closely will help you with this.

Are your customers coming to you directly? Are they visiting you because they were looking for a particular product or location, or are they coming from Google? Is your AdWords budget a good investment? Or are customers coming to you because their favourite blogger has recommended your product? Learning which sources have the highest conversion rates will help you to tailor your marketing strategy, attract more customers in the future and ultimately enhance your service and the buying journey.

Analysing all that data could enable retailers to pre-empt customer demand; for example, depending on your customer’s buying patterns (when they usually buy, their previous requested delivery times and dates), specific delivery slots could be directly suggested to them without them having to go through all the available slots. Or, your site could send out timely reminders about certain products they regularly buy to encourage a follow-up purchase.

 

In short, more sophisticated e-commerce data analytics collection is a way for retailers to increase sales through gaining a better awareness of your customer. The sooner you fully incorporate them into your martech strategy and use that data to make informed commercial decisions, the sooner you will be able to increase your sales whilst providing the best service to your customer; creating a win-win situation for both of you.

 

 

 

References:

(1)    https://blog.kissmetrics.com/the-8-most-important-conversion-metrics-you-should-be-tracking/

(2)    http://www.cmo.com.au/article/612861/gartner-how-cmos-will-spend-more-technology-than-cios-2017/

 

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