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Customer Behavior Analytics for eCommerce Retailers

Customer behaviour analytics unlocks customer's mind and provides behavioral insights to e-commerce retailers. Behaviour analytics analyses three behavioral traits (Browsing Behavior, Purchase Behavior, E-mail Behavior) of customers and sticks them around until they buy what they've been looking for. Interestingly, a combination of all the behavioral inputs can result into countless combinations of Customer Segments.<br>Analytics assists ecommerce businesses to gain useful customer insights and implement measures for increased revenue and customer satisfaction.

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Customer Behavior Analytics for eCommerce Retailers

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  1. CUSTOMER BEHAVIORAL ANALYTICS Analytical evolution of Modern eCommerce Retail

  2. TABLE OF CONTENT • Introduction to Retail • Evolution of E-commerce • What Is Behavioral Analytics? • On-site or Browsing Behavior • Purchase Behavior • Email Analytics • Behavioral Customer Segmentation • Intelligent Automated Campaigning

  3. Introduction to Retail

  4. Retail Business Retail is the process of selling products to customers, as per their needs and interests. In other words, retailing is the transaction between seller and buyer for a product.

  5. eCommerce Evolution Ecommerce is the most productive and active thing since past 3 years and it's evolving at rapid pace. Wall Street Journal, it happened for first time in 2016 that people bought more goods online than from brick and mortar store. United Parcel Service Inc. surveryed 5000 shoppers and found that 51% people purchased goods online, increased from 48% in 2015 and 47% in 2014. Also, 44% of smartphone users admitted they bought something from their phone in 2016; 3% more than 2015.

  6. What Is Behavioral Analytics?

  7. The most important basis of analysing customers. It comprises of three types of analysis and each one brings more insights about customers. Behavioral Analytics

  8. On-site or Browsing Behavior

  9. The objective of analysing On-site or Browsing behavior of customers can be understood by these "Know Thy Customers" Analysing the browsing behavior of customers is the most important aspect of modern retail. It focuses upon tracking and understanding the finest details of customers on-site activity.

  10. Keeping track record of on-site behavior of customers provide the core foundation of important analytics for modern day retail. Personalized experiences on landing page results into higher conversion ratio.

  11. 2. Purchase Behavior

  12. Purchase Behavior of customers Purchase Behavior of customers is the strongest source of customer preference data. One looks at so many products but buys only what is most important.

  13. 3. Email Behavior

  14. Most important behavioral information of customer to keep track of is Email Analytics by observing and optimising. 1. How many emails were sent to a specific customer? 2. How many emails were opened? 3. How many emails were clicked at? 4. How many emails generated a visit? 5. Did any email resulted in a sell?

  15. An effective campaigning strategy can be built by combining all the behavioral information of customers in terms of browsing, purchase as well as email. An in depth analysis of all these behavioral statistics can result in better conversions

  16. Behavioral Customer Segmentation

  17. Combining all the three behavioral aspects results into billions of possible customers segments

  18. Intelligent Automated Campaigning At any given time only a few of these segments represent profitable campaigning opportunities Using Artificial Intelligence Techniques Retail Reco helps you identify these Customer Segments • Predictive Analytics Outcomes gives each customer’s product affinity

  19. Automated Campaigning to these segment results into increase in revenue & profits & Customer Satisfaction

  20. https://retailreco.com

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