Last week, Elie Khoury, Woopra's CEO, contributed an article to Retail Online Integration titled 3 Ways to Increase Sales with Real-Time Analytics. In case you missed Elie's advice, below are a few of the key points.
1. Customer Centric Decision Making
The most important knowledge you can gain from your web analytics is a deep understanding of who your customers are — behaviorally, demographically, psychographically, etc. This insight is going to factor into every single business decision you make. Having this insight in real-time will enable you to make those decisions on the spot.
Every marketer knows that the key to successful communication with your customers is being both timely and relevant. Having customer insight in real-time allows you to seamlessly do both.
While demographic segmentation is useful, you need to take a holistic approach to profiling your customers by also including their behavioral history and patterns. Knowing what a customer did in the past is one of the best ways to predict their future behavior. Knowing what she's doing right now is the best way to leverage all of that information.
Elie's point here is that you need to have a full and accurate picture of each customer. Relying on a single type of data isn't enough. Rather, you should integrate all of your data silos to gain a single, 360° view of each customer. This is exactly what Woopra does for you. While Woopra tracks details of each visitor out of the box, you can also integrate customers' account information, deeper demographic data and any other information you have about customers into one place. Having this full profile of each visitor that is constantly being updated in real-time enables you to act appropriately in the moment, while the customer is still on your website and engaged with your brand.
2. Targeted Live Chat
Forty-five percent of shoppers say that online chat is one of the most important e-commerce customer service features to them and 36 percent of online shoppers want retailers to improve their availability of live customer service. With statistics like these, it's not surprising that e-tailers see an immediate lift in conversions once they implement live chat.
Those numbers alone are pretty convincing, but Elie goes on to write that organizations will realize the true power of Live Chat when they combine it with their real-time customer intelligence to proactively initiate chats with targeted website visitors who would likely benefit from assistance. He gives the example of rescuing hesitant visitors who show signs of abandoning their carts. A chat invitation from a sales associate will allow the visitor to have any questions answered and concerns relieved.
3. Personalized Promotions
Thankfully, when it comes to your online store, your analytics will automatically give you the information you need about your customers to better segment and target promotions.
While having online customers can present some challenges that you wouldn't have to worry about in a brick-and-mortar store, it also provides many opportunities to learn even more about your customers' behavior using web analytics. This gives you the ability to target customer segments with much higher accuracy than you would otherwise be able to. Elie gives another example of a way to rescue a hesitant customer while they are still on your website using a personalized promotion this time.
One quick and effective trick is to offer visitors who are hesitant about making a purchase an incentive to pull the trigger. For example, target shoppers who have over $300 of product in their cart with a free shipping promotion if they purchase within the next 10 minutes. A simple promotion like this can mean the difference between a sale and an abandoned cart.
Read Elie's full article for more details on the above three tips as well as a bonus tip.