Role of web analytics in e-commerce
I finally experienced it, the inevitable reality of staying in Delhi, a power outage! I thought when I was sitting in the dark waiting for the generator to work. Imagine being asked to play darts in a dark room. Throw the arrows in all possible directions, hoping that at least one of the arrows will hit the target. When the light comes on, you can see that some arrows are closer, but most are far from the target. It’s like a pointless exercise. But in reality, many companies do this to their customers every day.
Most online retailers are still focusing on a “universal” approach that offers customers all kinds of offers and promotions in the hope that they will accept at least one. This approach does work to some extent and can lead to modest sales, but it’s like throwing arrows in different directions and then looking around them and being happy with your actions. ..
Retailers can significantly improve their effectiveness by truly understanding how their customers interact with websites and other channels and targeting offers based on these insights. The best part of the online environment is that these insights are readily available. Online visitors leave these signals every second. However, in most cases this information goes nowhere. For more sophisticated retailers, this information can go into records, databases, or some sort of analytic engine. However, even in such cases, this information does not work effectively. This is even worse. Taking the analogy to darts further, it’s like playing darts in a bright room, but with your eyes closed all the time.
The arrow analogy is sufficient, but let’s take a look at what online retailers can do to collect the information gathered in an online environment and act effectively. The first thing online retailers should do is implement a good web analytics engine. Web analytics engines are very easy to implement and can provide meaningful information about how customers navigate the site, what they are looking for, and where to leave the site. Comparing it to a real-world store environment is like having a team of observers who constantly track every customer in the store and literally monitor every move they make to evaluate their purchasing options. Some advanced tools can be used to generate a “heatmap” for your website. This heatmap gives you a visual view of the revenue generated by each link or ad on your website. There are several options available on the web analytics platform. However, the two suitable options are Omniture or Webtrends. If you’re not ready to make a financial investment, Google Analytics offers a great alternative to its paid counterparts.
As soon as TikTok Analytics Platform you implement an analytics platform, you’ll see a wealth of information. But what is it now? Information alone is meaningless if it cannot be dealt with. I strongly believe in factual decisions, so all decisions regarding promotion, advertising, or product placement on your website should be based on the relative revenue potential of these assets. I recommend it. The home page is the most privileged area of the website and should be optimized to every corner of the properties of this page and assigned to the most profitable assets.
One feature that every online retailer needs to implement is to use the concept of A / B or multivariate testing. For marketers, this isn’t a new concept, it really means a champion / challenger approach to measuring different marketing promotions. The idea is to run two versions of your ad or promotion at the same time and measure customer response to see which one is generating the most conversions or revenue. It is very helpful to quickly create new advertising or promotional concepts. Then implement the optimal concept based on real-time customer feedback. Offermatica provides a great and cost effective way to perform A / B testing. Once you’ve gathered these insights and used them to make business decisions, you’ll supplement this information with something more powerful: your customer profile. I’m not talking about the basic profile that most retailers follow. for example. Your billing address, shipping address, etc. I’m talking about improved profiles that provide psychographic and demographic information about clients and can be used to understand their needs, needs, and motivations. Imagine a customer calling a call center to make changes to an order and asking about a digital camera. A sophisticated customer profile engine keeps track of whether a customer is interested in a digital camera so that the next time the same customer visits the website, the home page of the best-selling digital camera will be displayed. increase. Certain offers of these types are much more likely to be accepted. In addition, business-focused email campaign programs need to be driven by segmentation based on customer profiles.