5 Ways Ecommerce Companies Can Make Use of
Real-Time Analytics

June 18, 2018 posted by VANI

In the age of instant gratification, the need for ecommerce companies to be nimble becomes inevitable. Agility and instantaneous decisions are key for quick sales in this digital age and that is exactly where real-time analytics comes into action.

In real-time analytics, data is crunched and valuable pieces of information are uncovered as they come in. Like you know, ecommerce companies have several touchpoints on their framework that allows data scientists to collect customer data and offer more personalized services. If you run an ecommerce company and looking for ways to make consistent sales to your traffic, here is how you can make use of real-time analytics.

VINIEO 5 Ways ecommerce companies can make use of real-time analytics

Offer Them Personalized Deals and Discount Coupons

Clustering your customer data platforms for qualified prospects and probable prospects would give you an idea on the algorithm you need to have to offer instant and personalized deal. Customers coming in by keying in a specific product keyword are more likely to buy a product than other generic searchers. You can leverage this opportunity by giving a free shipping or discount to compel a purchase.

Cart Abandonment

It is a plaguing concern, where customers add things to their cart and do not proceed for checkout. Identifying them and giving them instant discounts on their cart is the most practical approach to retain the sale.

Omnichannel Customer Engagement

If you have multiple channels of stores, you can retain your customer by giving them an in-store coupon voucher they can redeem on your store purchase. It can also work the other way around. Substantial omnichannel analytics will even give you insights on dormant products and facilitate their sales with vouchers and offers.

Personalized Chats

Sometimes, customers need resolutions to their concerns but are not sure of what they want. Initiating a real-time chat is a great way to sell (or upsell) products and solve their problems. Choosing a personalized gift or an online course is an ideal example for this.

Customer Preferences

With real-time analytics, you can also deduce customer preferences and show them products they are most likely to buy. They may not the product but your offer and positioning at the right time has all the potential in the world to lure them for a sale.

With real-time analytics, you can also publish instant content on what would push your visitors to buy your product or service and help them make informed decisions. Though it takes time for optimization, you cannot ignore the potential of real-time analytics for your business.

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