Knowing the demographics of a customer base and understanding their purchasing behaviors are the keys to successful marketing. With eCommerce continuing to grow, the constant stream of data necessary to keep track of consumer behavior has become so large that it’s been dubbed “big data.” Managing and understanding this information is essential to delivering a high-quality customer experience.
Big Data in eCommerce
Big data comes in two forms:
- Structured including name, address, gender, age and basic preferences
- Unstructured, such as social media interactions, images shared, videos viewed, emails received and consumer responses to products
Unstructured data in particular falls outside the category of what can easily be managed using traditional databases. Even images are beginning to find their way into big data thanks to the efforts of Google and Pinterest to use image search and pinning behaviors to discern consumer preferences.
Storing and managing this much information can be a challenge for today’s business owners and marketers. When properly correlated, big data can be used to spot trends in customers’ behaviors, including how they research products and make purchases. This gives businesses a clear set of data-driven guidelines that can be used to target new customers in various markets as well as build loyalty among existing customers.
Making Big Data Work for Business
Modern marketing is all about personalizing the customer experience. Big data provides more information than ever to help businesses do just that. Using the data gathered on a daily basis, it’s possible to target specific subsets of existing customers through marketing channels such as email and social media. Personalization establishes a connection that goes beyond advertising to create a sense of loyalty between customers and brands.
Highly personalized marketing campaigns and shopping experiences drive conversions by showing customers that the companies they purchase from understand their wants and needs. By using the inputs from big data, it’s possible to make predictions about what customers will want to buy based on past purchases, searches and social media interactions. Presenting these choices to customers throughout the shopping and purchasing experience is similar to how brick-and-mortar stores place “impulse” items near the point-of-sale but with a customized twist.
Big data can also be used to understand how customers are searching for products and what they’re willing to pay. Adjusting prices and promotions based on this information is helpful for creating conversions, especially on products that haven’t moved well in the past.
Data Management Through eCommerce Platforms
A good eCommerce platform has a user-friendly dashboard with tools that clearly present each data set and provide straightforward options for management. With the massive influx of information going on all the time, it’s essential that business owners and marketing teams be able to look at, analyze and compare data to find trends that occur over time.
Correlating data from various sources and linking similar topics keeps the stream of big data from getting out of control and makes it easier to understand how seemingly unrelated information can be used to improve the customer experience. From monitoring times of peak activity to noting periods of high traffic with low conversions, modern eCommerce platforms provide the resources that businesses need to make positive changes that drive sales.
How Clarity Can Help
With a host of comprehensive data management tools, Clarity can help you organize the constant stream of inputs from customers and improve eCommerce performance. Our business intelligence platform manages data and presents it in a clear, concise format that is easy to understand and easy to translate into real results for your business. Contact Clarity today to get started with a smarter eCommerce solution.