As we continue to progress through the digital age, there has never been a better time to implement data-driven marketing into your e-commerce company.
Analyzing data can grant a business insight into consumer habits, help companies identify customer needs, and increase CR by examining the results of A/B testing. These are a few elements of why, in 2020, The FinTech Times stated that data is the world’s most valuable commodity.
Verfacto is a tool that makes data-driven marketing for e-commerce easy, providing tailored marketing insights, advanced customer segmentation, and personalized behavior predictions.
That’s only a beginning. Let’s take a look at 6 ways that Verfacto can use data-driven marketing to transform the way you do business.
1. User Segmentation
User segmentation involves categorizing potential customers based on unifying factors. If you were running a B2C business, these factors could include location, age, and gender. In B2B marketing, these categories would look at things like their industry, location, annual turnover, and company size.
Through customer segmentation, you can receive specified data for individual categories, allowing you to understand your target audience on a deeper level. This data allows you to create personalized content for each segment, driving conversion and decreasing bounce rate.
For example, data that suggests one category of user converts to a sale, while another rarely does, could provoke you to change your approach with the second group of customers.
This specified knowledge of how certain categories act allows you to focus on particular groups, upselling based on their interests or homing in on the best communication channels for their demographic (we’ve discussed upselling and cross-selling on this article). Over time, this personalized data-driven marketing approach will lead to more conversions and grant further understanding of your customer base.
Although you can segment your user base through Google Analytics, there are a limited number of filters you can choose from. While categories like ‘Bounced Sessions’ and ‘Converters’ reveal some areas you could work to improve on, there is still a lot of data left unturned.
Verfacto makes it easy to visualize, control, and affect change based on user segmentation. Instead of using an external service to monitor your data, Verfacto incorporates vital data statistics into your eCommerce platform.
By taking data from several sources and constantly running calculations to keep that data up to date, Verfacto provides a comprehensive data summary broken down into individual user groups. As this process is completely automatic, you can spend less time crunching the numbers and more time focusing on furthering your business.
2. Data-Driven Marketing Pop-Ups
When attempting to raise CRO through on-site marketing, websites will usually integrate a template pop-up for everyone that visits their site. While these can be effective for some users, the generalized structure can equally repel other demographics.
By using Verfacto, you can use data-driven marketing pop-ups to trigger based on certain user habits (it’s called behavioral targeting). You can enable pop-ups for different pages and use different structures, triggering them based on the pages someone views, the time they spend on a page, or when the probability of a user segment converting is highest.
Not only does this give users of your website a more personalized experience, but the data-driven marketing approach increases your CR when compared to generalized pop-up on-site marketing.
3. Website Optimization
One of the main goals of an e-commerce platform is to increase both the AOV and the overall CR. Running A/B tests using Google Optimize on factors like button color, homepage layout, or product listing order can provide a dataset with which you can customize your site to a greater extend.
However, with Verfacto, this process becomes even further simplified. Verfacto will analyze your data set, recommending particular product pairings and unique cross-selling opportunities to your customers. With these additional user prompts and pathways, you can effortlessly increase your AOV and boost your total CR.
4. Evaluating Online Results, the Right Way
Digital marketing campaigns return data through Facebook and Google advertising channels. Key information like ROAS, CPC, and CPA gives businesses an opportunity to run A/B testing and improve their ROAS over time by homing in on which marketing campaigns grant more engagement.
While Facebook and Google will grant your business insight into CPA, they don’t display any data about long-term gain. By incorporating lifetime value (LTV), Verfacto allows businesses to make data-informed decisions and predict how much each channel will earn in the long run. With long-term goal customization, you can use data-driven marketing to transform the longevity of your business.
By evaluating your online data, Verfacto can boost your ROAS and help you visualize the long-term trends of your distinct marketing campaigns.
5. Email Automation Based on Data-Driven Marketing
Typically, digital marketing campaigns reveal that emails are among the best ROAS channels to utilize. An additional benefit of using Verfacto is that in line with personalized pop-ups, we will help you build your mailing list base, attracting sign-ups by appealing to what each user segment most responds to.
By understanding what each category responds best to, Verfacto will then automate your email process, sending cross-sell emails that target certain users based on their interests.
You can then customize the goals of each campaign, using data-driven marketing in e-commerce to focus on particular segments such as discount buyers, loyal customers, or trendy buyers to deliver a personalized email that will increase CR.
6. Keep an Eye on Your KPIs
With Verfacto, data is always at your fingertips.
You can use the Report Builder tool to create behavioral and CRM data sets, allowing you to keep track of your eCommerce’s KPIs in real-time. This goes one step further than the data included in Google Data Studio, CRM data from Verfacto allowing you to further understand your customer base.
With understanding comes personalization, Verfacto’s tracking of KPIs allowing you to target segments based on their interests and increase conversion rate.
Final Thoughts
Data-driven marketing allows you to transform the way you do e-commerce business. From gaining further insight into your customer base to customizing your ecommerce marketing strategies across distinct user segments, Verfacto opens the door to personalized digital marketing.
If you want to boost CR, increase your AOV, and improve your ROAS over time, give the one-month free Verfacto trial a go today.
And, if you like this article, we’re sure you’ll love the post we’ve written with some great data-driven marketing examples for your business!