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10 E-commerce Data-Driven Marketing Metrics and Strategies that you Should Know About
February 1, 2019 |
Ecommerce Data-driven marketing metrics
and strategies are the processes of decisions on marketing metrics and strategies based on facts and data. This is no guesswork, intuition or assumption. You have the facts; hence you are able to know what works best.
Data and facts are correlated and they are very solid foundations to build your
Data can be generated from different processes such as orders, customer relations, marketing campaign stats, sales, e.t.c.
With all these data, you are able to see facts about market trends, what the customers need, what’s new, market behavior, correlations, results, e.t.c.
With all these data, you are able to know what works best and what does not work. This allows you to make good and solid decisions that can help you in your marketing campaign.
Application of data-driven marketing metrics and strategies eliminate mistakes and failures in E-commerce marketing. It produces results and growth in your marketing campaign.
We are going to be discussing on some E-commerce data-driven marketing metrics and strategies that work, which you should know about.
Identify Potential Customers
Identification of potential customers means knowing the right place to look when searching for customers. You can do this by looking at the
behaviors of your potential customers
, the geographical locations of your already existing customers, their lifestyle, age, and other behavioral patterns.
If you want to sell notebooks, you look for students. You don’t expect to make high sales from selling notebooks to elderly ones. This is because students are the primary users of notebooks.
Know where your existing best customers came from, know what works best for them, identify what they like. Leverage on all these data to identify your potential customers.
Gain Customer’s Loyalty by Delivering the Right Products
With the right products that customers want, you will gain their loyalty and trust. This will make them want to continuously transact business with you. How can you know what the customers want?
You can know this from product insights, the products that sell more, and customer satisfaction. After having all the important information, use them to gain customer loyalty by giving the customer what they want.
By delivery the right products, customers will trust your products and get hooked to you. Loyal customers can also help you grow your customers by referring their friends and families.
Focus on Channels that brings Return On Investments
Business is all about Return On Investments. When there is no return for your investments, your business will not grow. Data-driven marketing increases Return On Investments by providing you with stats on things that work and things that do not work.
You will know the channels that bring more returns and focuses your investments on those channels. You don’t get to waste your time and resources on things that do not yield good results.
Use Location and Seasons to Determine Sales
Customer’s location determines the number of sales for some products. There are some products that are seasonal. Hoods and sweaters sell more during winter and cold seasons.
People Living in countries like Australia and other south-east Asian countries do not buy Hoods and sweaters like the people living in America and European countries.
When marketing your product, you need to be conscious about the location of your potential customers. You also need to take note of the seasons in order to increase your sales.
Track Conversion Rate
of your marketing campaign to have an insight into the processes of your campaign and how well you are doing.
You can track the amount of traffic on your E-commerce website, your visitors, and customers. How many people filled and completed your forms, how many people contacted you, how many people actually made purchases.
Tracking down all these data will give you an insight on your conversion rate.
Social Media Engagement Metrics
Social media can be very instrumental to the success of your marketing campaign. In fact, social media is the number one marketing platform in recent years.
As a marketer or business owner, you can use social media to drive-in traffic to your Ecommerce website. Social media such as Facebook, Instagram, Twitter, e.t.c, can significantly increase your customer base.
Tracking Down Marketing Qualified Leads
The quality of leads is more important than the quantity. Leads could be very many but only a few will be converted to customers. As a marketer or salesperson, you need to track down marketing qualified leads and nurture them.
A marketing qualified lead is a lead that is likely to become a customer. How do you know a marketing qualified lead?
You can know this based on their engagement and behaviors such as the websites visited, contents downloaded and some other similar behaviors.
Track Down Sales Qualified Leads
A Sales Qualified Lead is a lead that is ready to become a customer. This is a lead that has indicated interest to buy your products or services.
These class of leads needs to be tracked down and followed up. They are the leads that generate final results of your marketing and sales campaign.
Track Websites Traffic Sources
As a marketer, you need to track down your website traffic sources to know which sources generate the highest traffic to your E-commerce website.
There are different sources where traffic is generated from such as social media, ads, organic web searches, e.t.c. Doing this will help you better understand your marketing campaign and give you an insight into what works best.
Website and Products Development
The reason why there is less traffic on your E-commerce website might be the poor look of it. Your Ecommerce website should be easy to navigate and beautifully designed. It should be easy to use.
You should always look for ways to develop on your products. Your products should not depreciate in value, instead, it should increase in value. Do not lose already existing and potential customers by producing low-quality products.
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