How To Utilize Customer Data For Ecommerce Selling
Generally – When you meet someone you cannot help learning something about them. The more you interact with this person, the more you learn. In the context of interpersonal relationships – it is also true for business relationships.
Interacting with a customer, for a retailer – has an opportunity to learn a little more about them. This gives retailers and idea about how to serve them better. There is an opportunity to market to that shopper in new or better ways that improves his shopping experience and increase store profits.
As an online or multichannel retail store interacts with a shopper, there is a similar exchange of information. Each party learns something about the other. Over the time, if a customer makes several purchases or interacts with the retailer in other ways, the retailer will get to know that customer.
This sort of customer knowledge, gives the retailer so much more scope which enables him to do a much better job of upping his selling game. Here are some ways which can help in increasing sales:
Find Likely Product Affinities
A multichannel retailer uses customer purchase behavior to find likely product affinities or needs.
When a shopper purchases a set of items in combination, the retailer assumes that the customer has or is about to have a product related to it.
Using this information, the retailer begins an automated email marketing series offering related products.He will receive a message recommending all the items related to that product, that he might want to purchase in future. Try to identify combination of items that indicates a lifestyle or behavior or what can you do to support that lifestyle or behavior.
Discover When Your Customers Shop
If an online retailer has a loyal customer who has made three purchases and each of those purchase were made between a regular time slot – it likely makes sense to market to this customer around this time.
A marketing email personalized and timed for this customer may be significantly more effective than a similar message sent out in with a lump of other emails earlier in the day. Adjust email or other personalized marketing to arrive when a specific customer is most likely to be interested and active.
Recognize Subscription Opportunities
Subscription ecommerce is becoming increasingly popular with both shoppers and merchants. For shoppers, subscriptions can make it easier to replenish consumable items or discover new products. For merchants, the subscription makes inventory easier to manage and reduces costs.
You can monitor the kinds of products that customers order and reorder over time to find possible subscription opportunities that you might not have otherwise recognized.
Reward Your Best Customers
A retailer introduces a new customer reward program based on surprising its best customers. Each quarter, the retailer is identifying shoppers who spent more compared to previous months.
Customers who spent a threshold limit would get a different amount of digital card, and those who have crossed will get rewarded by an amount more than them.
These loyal customers should be happily surprised. What’s more, the program can be easily automated and replicated. Your online store could easily use customer data to create a similar program.
Identify Events Or Special Occasions
An online retailer receives an order from another country, that it was to be shipped at an address at a different country. While there could have been any number of motivations for the purchase, he assumes it was a special occasion and marked the customer for follow-up.
Some months later, the retailer sent this customer an email message, offering a selection of toys.
Look for patterns of buying, which may indicate a special occasion or event, and market to that event.