Data management plays a crucial role in the ecommerce industry. It is important for merchants to analyze trends and patterns in shopper behavior so that they can conduct future planning for the growth of their businesses. Here are three tips from Practical Ecommerce to consider when managing data.
Credit: Measureful, Stack Overflow
- Hire Data Scientists: Practical Ecommerce suggests that retailers should hire data scientists to handle all of their data records. By hiring employees, a merchant is able to have an “in-house” way of discussing data trends. Important things to consider when hiring employees are software systems. Investing in a database software system is vital to the success and direction of your company. You want to purchase a database that is “robust” so as your company grows, it is able to “handle the increased loads.”
- Outsourcing Data Needs: This is a good option for retailers who want to focus solely on selling products, customer service and profit. Outsourcing your data needs to a firm will allow them to handle all of the data collection, entry, and analysis. This helps takes some pressure off of retailers.
- Use Free or Inexpensive Tools: For merchants that are on a tight budget, there are inexpensive databases that enable you to manage data on your own. Some of these include Google Analytics, Crazy Egg and Kissmetrics. These options may be limited in providing extensive data analysis, but they are affordable and definitely a better alternative than not handling your data at all.
For more information on handling your data, visit the article on Practice Ecommerce.
“Your website must look and function in a way that caters to their [shoppers] convenience.”
The ecommerce industry is able to financially prosper as a result of online shoppers purchasing products. The key word to consider here is “purchasing.” Although many people browse the web for items, not all individuals actually buy anything. In order to generate promising purchases, it is important to structure your marketing in favor of the shopper. Entrepreneur suggests four strategies on how to turn a shopper from browsing to buying:
- Synchronize – To keep your customers from your competitors, it is beneficial to create “a multi-channel sales department” and synchronize multiple marketplaces to appear on your website. By doing this, shoppers will not be exposed to similar products from different retailers.
- Be Where Your Customers Are – Entrepreneur states that buyers spend a significant amount of their time on Facebook, therefore, making the social media site a huge platform to market products. Paying attention to online traffic trends is crucial to distinguishing where you want to advertise your goods.
- mCommerce – As stated above, it is essential to consider what platforms are popularly used among browsers. The use of mobile apps is continuously increasing and developing a way to shop on the go will allow your company to grow. Shoppers are more likely to buy when it favors their convenience.
- Room to Expand – Consider expanding the size of your company internationally. Check out Multichannel Merchant to see how translating your market according to global consumers can benefit retailers.
The ecommerce industry has made huge headway in establishing online shopping as a significant platform for consumers. The success of ecommerce and mcommerce has been made possible not only because of technological advancements, but also because of retailers’ strategy to personalize their customers’ shopping experiences.
Although many retailers send emails addressed to their customers’ names, there is much more to truly personalizing their shopping experience. According to Fourth Source, “…brands are personalizing much more than just email based on name and location; they’re using a combination of explicit behavioural and implicit interest data natively collected from all channels, allowing them to build a true single customer view.” This means that these companies customize their emails according to a single client’s repeated shopping patterns. They send out emails with subject lines that suggest products relating to the customer’s previous purchases. It is crucial to understand the needs of your customers; when you know what they want, it is much easier to market specific products to them. Prioritizing your consumer’s demands is a useful strategy in growing your company.
The ecommerce industry is taking advantage of shoppers’ increased use of smartphones during their shopping experience, with online retailers progressively catering their sales strategies around the mobile app industry. On August 19, Internet Retailer published their annual Mobile 500 report, which details the growth and statistics around ecommerce’s top 500 retailers.
As an official data partner on the report, TheFind provided quantitative research around mobile apps among top retailers, including apps for different platforms as well as app and commerce features.
With Internet Retailer predicting a 74% growth in U.S. mobile commerce sales and that 42.4% of mobile sales will stem from mobile apps in 2014, it is clear that retailers who prioritize their sales strategies around mobile apps are in a position to reap huge financial rewards.
The mcommerce industry is still relatively young and TheFind’s contributed research around app proliferation supports Internet Retailer 500’s prediction that there is only more room to grow. Be sure to check out Internet Retailer’s website for additional information around the report’s findings.
In addition to using their mobile devices in-store to see if they are getting the best deal, many are also using their phones to do more in-depth research on the product they’re buying, Internet Retailer recently reported. Smartphone users engage in a variety of activities to help them decide if they are going to purchase a product—27% read customer reviews, 22% read product details, 18% scan a QR code and 17% check in-stock status at that retailer’s other stores or website.
Credit: MultiChannel Merchant
TheFind’s mobile app provides easy access to product details, a QR code scanner, price comparison and a list of retailers where a product is in stock, making it an ideal app for shoppers that want to do product research on their smartphone. Ensure your store’s items show up in TheFind search results by registering for free online and submitting your products.
In the past year, mobile commerce retail revenue grew 97%, totaling $18.2 million, FierceMobileIT recently reported. Shoppers are not only browsing items on their mobile devices more frequently, but they are completing more purchases. Trinity Ventures investment firm associate, Phil Carter says “moms, millennials and multinationals” make up most of the ecommerce market surge, though they aren’t the only groups in the ecommerce increase.
Credit: Compete Pulse
Ecommerce is an essential part of the shopping experience that retailers can’t afford to neglect. TheFind can help ensure your products are seen by mobile shoppers, even if they aren’t using your store’s app or site. Simply register for free online and submit your products to ensure shoppers using TheFind to search for items will be able to easily find and purchase yours store’s products.
Ever wondered what drives people to shop on their smartphones? MediaPost recently reported that the biggest mobile shopping motivator is getting a good deal. 91% of consumers identify their smartphone as their preferred in-store device, 40% of consumers that plan on buying an item will wait until it goes on sale and more than a third of shoppers look for deals on their mobile devices.
While it’s no surprise that sales attract shoppers, it is essential for consumers to be able to find your store’s deals with their mobile device. With TheFind’s option to refine searches by sale and in-app coupons feature, savvy shoppers can easily find deals. Be sure your discounted products show up on TheFind by registering for free online and submitting your products.
Fortune recently reported that in the past four years, mobile shopping in the U.S. has grown 19-fold to total $40 billion. While many shoppers tend to wait until they get to a tablet or computer to buy more expensive items, the report found that more than a third of visits to online stores come from mobile devices and that these users are indeed making purchases while on the go.
Don’t miss out on this quickly growing market. If your store lacks have a mobile platform, TheFind can help. Simply register for free online, submit your products and shoppers can search for and purchase items from your store on their mobile devices via TheFind.
It is projected that one out of two devices will run on Android by 2015 worldwide. Scale, usability, performance and reliability are top priorities across all teams and products at TheFind, and the Android app is no exception. So we plan to release an all new Shopping Search by TheFind for Android the next month.
In preparation of this big release, we have created a closed community on Google Plus, to allow friends, fans, and partners to download our new app and give us feedback. We want to impress you with the completely updated Catalogs feature, which is now more visually-pleasing and contains more titles. These catalogs are shop-able, just like search results.
As partners, who would benefit from our reach, and valuable retailers who help us provide great search results for our users, we would like to invite the Android users amongst you to join the community with your gmail address.
This private Beta community is not just about an early preview or performance feedback, it’s about including our partners in our development and growth, and gaining a fan base that will help us introduce the app to Google Play with positive reviews and word of mouth.
Please join the community here, using your gmail account. Please be sure to have a Google Plus profile activated beforehand.
We look forward to seeing your participation in the community!
Your friends at TheFind
Announced today, TheFind, the most comprehensive ecommerce search engine in North America, has launched their new advertising program, which provides options for all retailers to improve their search rankings and increase and diversify their qualified traffic. TheFind has over 15 million unique monthly shoppers and more than 100,000 retailers that already receive traffic from its award-winning mobile apps and website, making it one of the largest independent retail traffic sources available. Retailers are already participating in the beta release of the program and the commercial launch is expected in mid-Q3, well in time for the start of the 2014 holiday season.
Sign up for the CPC program or CPA program options now.
“With the growing importance of mobile traffic coupled with a competitive advertising landscape, it is becoming harder for retailers to efficiently reach their customers,” says Siva Kumar, co-founder and CEO at TheFind. “Our advertising program provides an excellent opportunity for retailers to gain experience with TheFind, benchmark traffic and conversion results from our mobile apps and website to prepare for the upcoming holiday shopping season.”
TheFind’s new advertising program will enable retailers to increase traffic and visibility for promoted products. Category and product level bidding provide quality traffic with higher than average order values, more new to file customers and access to the rapidly growing mobile shopping audience. The advertising program supports both cost-per-click and revenue share based models. Those retailers already familiar with search advertising and PLAs will find it beneficial to join the cost-per-click program. Retailers who prefer marketplace type models will be able to leverage TheFind’s revenue share advertising program.
Participation is simple. If you already have an account with TheFind, you can go to the newly launched Retailer Central to log in and pick your program. If you’re not yet set up with an account, you can go to our CPA form or CPC form and enter your info.
We’ll also be at IRCE in Chicago Jun 10-12, 2014 – feel free to coome see us in booth 420 for more information!
PS – See our latest thought leadership: ‘Democratizing the Shoppable Web’ whitepaper by immr and GigaOm analyst, Dr. Phil Hendrix and try out our shopping engine comparison test to see how TheFind compares to search engines and comparison shopping sites