Are you looking to drive more conversions and skyrocket revenue for your online store? Do you want to retain customers by winning their trust and loyalty? Wouldn’t it be great if you could know precisely what your customers are buying, and how they’re doing it?
Did you answer “yes” to any of the above questions? Then it’s high time you start leveraging eCommerce shopper intelligence data to deliver an outstanding customer experience.
The Changing eCommerce Landscape
The eCommerce sector has witnessed unprecedented growth due to the COVID-19 pandemic. Today, online shopping is no longer an exception or a novelty for consumers. Instead, it’s become the norm for purchasing almost anything, from groceries and household appliances to apparel.
In fact, online sales account for more than a quarter of worldwide retail sales. As more consumers realize the benefits of online shopping, that figure will spike further north.
But the rapid rise of online shopping has also tempted more retailers and manufacturers to jump on the eCommerce bandwagon. With millions of eCommerce stores flooding the internet, acquiring and retaining customers has become a herculean task.
Even the smallest glitch in customer experience could lead target consumers to a competitor’s website.
That’s where shopper intelligence data steps into the picture. It helps you drive more sales by gaining deeper insights into your target audience.
In the following sections, we’ll take a closer look at how you can leverage eCommerce intelligence data to skyrocket sales and grow your online store. Let’s get started.
The Role of eCommerce Shopper Intelligence Data
The use of data analytics in eCommerce isn’t new. Big data has been leveraged by a plethora of eCommerce businesses to reduce operational costs and improve sales processes. Also, it can help optimize product pricing, as well as identify fraudulent online transactions.
But the applications of eCommerce intelligence aren’t restricted to building a more secure and efficient online store. It plays a key role in helping you understand customer behavior. You can identify product search trends, and the keywords they’re using to find those products.
Additionally, you get a vivid glimpse of how consumers are interacting with your eCommerce website. It helps you identify elements that could be driving customers away instead of converting them.
Also, it gives you a fair idea of the different touchpoints a consumer goes through before reaching a product page. That’s the kind of insight you need to understand the customer’s journey and improve the purchase experience.
How to Leverage eCommerce Intelligence
Harnessing the potential of eCommerce intelligence is more than simply monitoring website traffic and sales. You need a concrete strategy to collect, process, and analyze a ton of data from multiple sources.
Build Your eCommerce Intelligence Toolkit
When it comes to collecting eCommerce data, the most obvious choice is a website analytics tool. But these tools only offer limited insight into consumer behavior. If you want to gain a competitive advantage in the evolving eCommerce landscape, you need a top-notch shopper intelligence solution.
Look for tools that help you monitor consumer behavior across different channels, from third-party marketplaces to your website. Also, make sure they provide actionable insights to help you enhance your eCommerce marketing and conversion strategies.
The tool should be equipped with a robust retail algorithm that gives you accurate data and insights from different desktop and mobile devices.
Optimize Your Conversion Funnel
The biggest benefit of using shopper intelligence insights is that they give you a closer look into the customer journey. You can identify the touchpoints they use to learn about your brand/products. Also, you get a glimpse of the actions they take at every stage.
All that information empowers you to improve the conversion funnel according to the preferences and pain points of target consumers. You can modify product descriptions, calls-to-action (CTAs), and other elements to grab the right eyeballs.
Also, you can use shopper intelligence data to make personalized product recommendations at the right time. You can even reach out to potential and existing customers using their most preferred channels. That, in turn, will help you amplify the average order value, as well as boost customer retention and loyalty.
Focus on Search Optimization
An eCommerce marketplace is more than simply a platform that facilitates online shopping. It’s a search engine that helps consumers find the products they need. As with any search engine, you need to optimize your product listings with the right keywords.
Shopper intelligence insights help you understand what your target consumers are looking for and how they’re searching. You gain a deeper understanding of your brand, category, and product performance. Also, you can identify the terms and phrases they’re using to search for various products.
These insights can be instrumental in improving your brand’s visibility on popular eCommerce marketplaces. Ultimately, it’ll help you acquire new customers and generate more revenue.
Shopper intelligence insights are integral to the survival and success of modern eCommerce businesses. Make sure you leverage consumer behavior data and other actionable insights to improve your conversion funnel. It’ll go a long way to help you skyrocket sales, as well as enhance the shopping experience.
Founder Dinis Guarda
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news and distribution to create an unparalleled, full digital medium and social business network spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems.