Your customers are talking to you!
That’s right. Every day, your shoppers are constantly communicating with you and your ecommerce store. Can’t hear them? That’s because most of this communication is nonverbal.
As shoppers surf your ecommerce site, they’re constantly leaving behind nonverbal cues.
These cues are the keys to unlocking the secrets behind what makes your customers love and purchase your products. As technology, data quality, and data science has improved, merchants now have opportunities to unlock these secrets to success.
Brands who use their data are profiting, and those who ignore their data are falling behind.
What kinds of data are your customers giving you?
Your customers aren’t just talking to you. They’re communicating, and communication goes two ways.
For example, when you offer a clearance sale on a product, you’re communicating to your customers that you are phasing out the product.
Your customers respond through their behavior: they click on ads about the sale, open emails, and convert at higher rates. They tell you that they like the newly discounted price.
If shoppers aren’t buying your clearance products, they’re telling you that, even with the sale, they’re not interested. They may still feel that it’s too expensive, or they simply just don’t want or need your product.
Where is this data and why does so much of it go unused?
It’s everywhere: Google Analytics, Facebook Ads manager, Shopify (or your preferred ecommerce platform), and a variety of analytics platforms.
Most data goes unused because most merchants just don’t know how to turn data points into actions.
Data is only useful when it clearly tells you what you should do differently, and how you should go about it.
When you thoroughly understand your data, you’ll find that it shows you how your customers think and feel about your brand, your prices, your website, and your place in the market.
How does data make my business money?
This is the source of a great deal of confusion for thousands of ecommerce businesses.
How are we able to know why shoppers do what they do? Their actions speak louder than you might think.
Some merchants are overly afraid of competition, so they use price matching software to price match competitors.
Other merchants believe that their product or brand is much more premium than it truly is, so they charge premium prices.
Both of these merchants make the mistake of letting their opinions get in the way of the truth.
Isn’t the customer always right? Take a look at what Sam Walton, the Founder of Walmart had to say about this topic.
It’s never been easier to use your shopper data to put your customers first.
If you make decisions using behavioral data, then you’ll be shoppers’ favorite store. Customers like brands that listen: it’s that simple.
I have the data, now what do I do with it?
We’ve established that you’re already (even unknowingly) collecting vast amounts of data.
Now, how do you monetize it and take action? How do you actively listen to your customers?
The Pricestack Ecosystem
At Pricestack, we’ve created an ecosystem of tools that make sense out of behavioral data!
You probably don’t have the bandwidth to tackle data analysis yourself. We make it easy to achieve excellent results, quickly, providing huge value at a reasonable cost.
To start using data to grow your business by listening to your customers, book a free Pricestack demo. We’ll learn about your brand and share how you can best approach customer data!