//3 powerful ways to maximize data to grow your e-commerce business
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3 powerful ways to maximize data to grow your e-commerce business

 

 

People from outside think that the game of e-commerce is an easy way to quickly win the business. money.

Online trading company is not an easy task and building a profitable brand is even more difficult. Transforming new visitors into loyal customers can sometimes seem like a difficult and expensive feat in this regard.

Part of the difficulties faced in these companies lies in learning, messaging, tactics and techniques give the most fruitful results on the funnels of a company.

Although "blind growth" can certainly occur, it represents a risk and can be significantly improved through effective learning to harness and exploit the data available in e-commerce. owner. This is essential to establish the longevity and vitality of businesses.

In fact, a study IDG found that 78% of companies said that data collection could fundamentally change their activities.

Data collection and analysis allows retailers to define customer preferences, needs, and customization opportunities, which will help to gain and retain an increasing number of potential customers, increase the number of conversions and increase sales exponentially.

Fortunately for digital merchants. Today, in the technological landscape, customer data and collection tools are not lacking. Once you learn how to extract meaningful data points and turn them into actionable solutions, you can dramatically scale your business.

Here are three powerful ways to use the data to effectively increase sales.

Expose Interests of Customers

Prospects have a wide range of needs, wants and interests that they seek, analyze and respond online.

Google can help you determine those interests and better serve those interests. the needs and wants of your customers.

If it is important to understand demographic information such as the age range of your audience, its breakdown by sex, location, etc., Google Analytics helps e-commerce merchants to analyze in detail the details of their consumers with his . Report on categories of affinities .

This report describes "a way of life similar to that of viewers, such as techies, sports fans and food lovers." The rket segments report reveals interest for the purchase of products.

This information is valuable to e-commerce vendors as it helps to identify the consumer categories that your audience is interested in, which is essential for increasing sales.

Using this data can help your brand align more with the valuable elements that your users deserve, while generating superior content marketing efforts that can improve your site's rank, backlink profile and loyalty.

Increasing Average Order Values ​​

The average value of a site's orders is one of the most important key performance indicators to be measured and optimized for customers. e-commerce businesses. Higher values ​​mean that you are probably offering a fantastic shopping experience through conservation and design elements.

Your AOV simply represents the total business figure of your store for a period, divided by the number of orders placed in the same amount of time.

For example, if your store generated $ 15,000 last month on 986 orders, revenue ($ 15,000) divided by the number of orders (986) would be an average order value of 15, $ 21.

There are many ways to grow your e-commerce business (ie, acquire more customers, increase the number of loyal customers, etc.), boost your AOV is the tactical that costs the least, if at all.

Strategies to increase this number. You can:

Cross-sell relevant products. Offer free shipping for orders above $ XX. Provide discounts for purchases on multiples of the same item. Provide coupons for the next purchase that reaches a dollar amount. specific.

to reliably increase the AOV, one has to analyze the data generated by each of the strategies.

Try to try A / B by testing each strategy to see how it compares and determine which technique increases the AOV the most, and

Reduce the number of dropouts

According to the Baymard Institute, the average dropout rate of is about 70%.

There are a variety of reasons for desertion to occur; However, the three main reasons are as follows:

Extra costs too high (shipping, taxes, fees) The site asked me to create an account Payment process too long / complicated

By examining the rate Your site's rebound you can accurately determine where consumers leave your site and if your store gets hurt with any of these major sales obstacles.

To analyze this data and obtain relevant information, segment your bounce rate into a variety.

Depending on where you find that visitors are leaving your site, you can optimize the payment experience to effectively reduce the abandonment rate of your shopping cart.

If users leave at the beginning of the checkout process, you probably encounter problems with account creation and the possible lack of payment options as a guest. To solve this problem, implement visitor validation to encourage new customers to buy as easily as possible.

If prospects turn in the middle of the process, paying for your site is probably too long or complicated. If this is the case, reduce the number of pages and fields to your order to a minimum.

If consumers give up their shopping cart at the end, this probably results in fees. Make sure that users know beforehand any charges and consider providing them with shipping information and a tax calculator to establish this information before the final screen.

This will not prevent them from bouncing back. In this case, it may be wise to use exit surveys that encourage consumers to supplement their purchase with coupons or other offers. These are particularly effective on cart pages.

Learning to use the data at your disposal can be a little intimidating. However, effectively learning to do this provides your business with the information needed to increase sales and traffic while gaining an edge over competitors who do not analyze this digital gold.

The opinions expressed in this article are those of the client. author and not necessarily Marketing Land. The authors of the staff are listed here .

About the Author

3 powerful ways to maximize data to grow your e commerce business - 3 powerful ways to maximize data to grow your e-commerce business

Ronald Dod is the Director of Marketing and Co-Founder of Visiture Marketing Agency of end-to-end e-commerce aimed at helping online merchants acquire more customers through the use of search engines, social media platforms, markets and their online stores. His passion is to help leading brands use the data to make more efficient decisions to drive new traffic and conversions.