Data-driven marketing is by no means a new concept – although it’s still trendy. The reason for it lies within the importance and undeniable impact that data-centered campaigns have had on the way we perceive marketing — especially on E-Commerce marketing strategies.
Hence, it wasn’t long before the buzzword “data-driven marketing in E-Commerce” become the cool kid on the block (or is it the buzz-phrase?)
Being familiar with futuristic marketing methods is one thing, but applying and using them most profitably is another.
If this sentence has clouded your thoughts: “how to utilize data-driven marketing in your E-Commerce business to get more customers,” then we have some informative headers that can uncloud your consciousness.
First of All, What is Data-driven Marketing?
Data-centric marketing and analyzing customer behavior are the exact opposite of traditional marketing. In the old days, focusing feverishly on customer data was just a far-fetched business idea; but today, it’s the pillar of the new-age business promotion.
How Facts Based On Data Help E-Commerce Marketers?
Customer facts and numbers are everything, and they can’t be reached but through data-focused identification efforts in the online spaces, like social media platforms.
The cultivated data depicts customer behavior, marketing-oriented performance numbers, market trends, and a general understanding of how well online products or services are doing.
Advantages of Data-driven Marketing in E-Commerce Environment
Data-driven marketing strategies for E-Commerce bears many heavenly fruits that can stir you to an eternal passageway of unmatched blessings and profit. Here are a couple of these advantages:
- Mapping Out Precise Buying Process
- No Guesses/Blind-shots
- Predicting The Future Trends
- Cut in Costs
And if these aren’t enough to entice you to follow through with the idle data-starving marketing plan on the agenda, then we don’t know what CAN!
Mapping Out Precise Buying Process
It’s brutal out there, and it’s just getting worse with each passing day: the tiny portion of the online shoppers that you can invest in getting distracted by unending possibilities, jumping from one destination to another; it’s a fight for survival.
With such tiny corners to work with, drawing a customer roadmap from the second they hop on to your website to the last step before finalizing a purchase becomes a lifeline necessity.
The “why’s, when’s, where’s, and who’s” must be answered, and extracted data is the only formidable way to go about it. The turnouts determine the step-by-step marketing efforts that you should consider to minimize risk margins and to grab the attention of buyers for the long haul until they become ride-to-death users.
If you have the time, energy, manpower, and obviously the cash to spare on a marketing wild-goose chase, then, by all means, knock yourself out. But if you like your every action planned, then data-driven marketing is the only option to go with.
With a fact-brewing marketing plan, you get solid numbers and data on your customers or anyone who views your shop, making the end results objectively more reliable and eliminating the threats of half-baked decisions.
Predicting The Future Trends
Nothing helps a business in a highly competitive market more than knowing what’s up ahead; that’s one of the many perks you receive by relying on a data-driven marketing strategy.
We’re all aware of the changing future and how it can throw any well-thought plan off the tracks; yet, having a layout for things to come — a heads-up for the future if you may — only makes taking the next step more straightforward.
Customer behavior undergoes a rapid change in an E-Commerce environment. Also, their purchase cycle can evolve and get impacted by uncontrolled elements such as seasonality. Knowing how customers might interact with a particular product/service prepares you for what the future holds.
Cut in Costs
This is probably the most tangible aspect of data-driven marketing in the E-Commerce space; cost reduction.
A well-established E-Commerce marketing plan that revolves around data saves a business from overwhelming and unnecessary costs and directs the financial resources into the right course where customer needs have priorities.
Timing, Flexibility, And Personalization
For anything that happens in the E-Commerce world, there’s a plethora of undiscovered data that can drastically alter how you implement marketing strategies.
Customers move items to the cart when the time’s right and the need’s urgent, and data-driven marketing gives you the tools and the information to pinpoint these timestamps.
This specific method of E-Commerce marketing enables you to act harmonically with customers; for example, when they are prone to visit your website or the golden opportunities when they want to make an impulse purchase.
That being said, what happens in uncalled and totally bizarre moments?
Let me give you an example:
“In the last after-match press conference, Ronaldo, the former Real Madrid striker, casually moved two bottle of CocaCola away from his desk, replacing them a bottle of water and advising everyone to drink responsibly.”
Now that might not make any sense to what I’m discussing here, but would it still be so queer if I told you that CocaCola stocks took a brutal beating the next day?
Can you picture your product up there being moved outside camera lens reach by a celebrity?
The spontaneous act caused massive waves across shoppers who now think water is the best choice instead of sodas, consequently buying less of them. On the other hand, mineral water companies had a blast!
Data-driven tactics help you analyze sudden impact radius and act accordingly to the market by reshaping to new customer desire.
It bends to the split-second marketing shifts and random trends while tending to the new customer needs, eventually causing a profit surge for your E-Commerce brand.
Data-driven Marketing Role In Retention Marketing
For an E-Commerce business, it’s a hell of a lot easier to retain a customer than to attract new ones, and it’s a hell of a lot easier to do so through a data-driven marketing plan than traditional methods.
Data-focused promoting strategies bring the customers right into the center of attention. It helps E-Commerce and other sectors set up personal relations with their customers and treat them with respect.
If the customers also feel the connection and that the other side (you) backs their value, they will be more likely to interact with the brand, repeat purchases, and become loyal users.
As a result, customer retention rates go up, and everybody’s happy!
If you’re looking for a way to get data-driven marketing activities, why don’t you try Markight? Markight helps you design and perform marketing campaigns based on facts and actual behavior by classifying customers and measuring metrics related to retention marketing. To get started, complete the demo form.