Data Analytics Derive Online Buying Pattern, Retain Customers

Digital era is dawned with many exciting gifts. More than half of the business premises are shifted to the virtual digital space. The smartphones and iPhones have eliminated mediators between the buyers and the merchants. Now, the brick of distance is removed. Email marketing, newsletters and many more means of communications are pinning them up.   

How does the cycle of E-Commerce go on? How is it spinning with accelerated speed? Are the merchants throwing arrow in the dark? Or, is there something latent that is bridging the gaps between the sellers and shoppers? 

Yep! There is indeed something that is benchmarking. It’s the hidden pulley of the deep analysis that pulls up a wall to bridge the gap that traditional trading system has put in. Big data is bridging it. But the need is to identify the power of data. Business intelligence will never be a challenge then.

 Here are a few viabilities of data analytics that would make you a big fan of big data if you’re willing to come on the board of entrepreneurs.

1. Shopper behavior:  Shoppers are online explorers. These shoppers become buyers later. But only right strategy can turn them into buyers. Its method routes from understanding shopping behaviour and deriving absolute shopping patterns. For it,

Let’s say, a buyer spends 15 minutes to half an hour while doing online window-shopping every day. Mostly, he searches for sport shoes and sunglasses. The data mining reveals his shopping patterns. The merchant can offer certain discounts or complimentary products, like wearable for a gym like T-shirt and towel, cases of sunglasses and so on. The decision would definitely pay off via this mind-blowing data analytics.     

2. Customer Services: Customers are the blunt yet valuable critiques. Their reaction has meaningful tips. But almost 68 % brands say ‘bye’ to the brands just because they neglect customer support. A bit of support can turn the negative reviews into positive buzzwords.

Take dividends out of data analysis. Install cloud telephony so that you can remotely access the customers’ inquiries, tap their problems and pitch for the right decision to take. This highly functional and interactive system reveals the true version of customers’ problem & their solution. The repetitive inquiry from a customer indicates that his/her support was unsupported.  Screen such issues & track their addressing or delivery timing. At this critical stage, the data analysis driven from the database of cloud telephony system can prove a big game changer. More satisfied clients would exaggerate the brand value which would be absolutely free mouth of words promotion. 

3. Customizing pricing & offers:  Customizing price/offers is the magical trick whereby new customers turn into loyal ones.  But the huge number of eCommerce websites has made retaining customers a tough deal. Online market research through online survey have been delivering them A to Z delights of the customers.  So! How can they retain them?

The data analytics feature of the website makes you gaga. Just walk through the purchase history of the customers. Spend some valuable time over segregation of their taste, preferences and likes. Eventually, you would have a unique customer profile whereby speculating what to offer would be a walkover. You can bet on this customers’ engagement trick. Then, tailor the offers, loyalty programs/points or discounts.

4. Supply chain: Supply chain requires great vigil since it marks the last leg of the sale. Unreasonable delays can irk the customers. Consequently, they can use the power to cancel the order online anytime.

Data analytics show the actual image of the inventory or shipping problems. Trace the commonest and repetitive problem.  Remove the error that can damage the reputation of the company.  

5. Predictive analysis: This is the last yet the most valuable point. Whatever data analysis report depict, it needs proper monitoring.  Develop a sense that can prove a big trend-setter.  Segregate the period, like festive season, when sales go on peak. Prep up catalogue accordingly with the ideal blend of customized offers and discounts. All these decisions would play a decisive role in developing innovative business decisions.