The use of data results in a number of improvements to the results obtained in all types of activities. Let’s see some:
Increases knowledge about the consumer profile
This is because it is possible to measure customer interactions with the content on the platform and with the type of product that arouses their interest.
In this case, we were able to assess the amount of time he spends viewing each item and the way he interacts with the brand through social media, etc.
As can be deduced, the data is much more complete than if an analysis were carried out only at the time the purchase is made.
From there, it is possible to predict behaviors and get ahead, showing each user a personalized solution.
This knowledge also makes it possible to make better decisions than competitors, as not everyone has mastered this technology yet.
Helps increase conversion rates
Based on the detailed information collected from the customer’s profile, there is a great basis for making personalized promotions, targeting different offers to each buyer, having better digital marketing strategies and segmenting consumer groups, which will guide relationship actions with them.
Also consider that these factors help to demonstrate the value that the company gives to the customer, allowing them to feel important to the brand.
Consequently, users become leads, who become buyers, who become admirers.
Allows you to improve the brand experience
All this data can be analyzed to find out if there are bottlenecks between one process and another, which results in a more consistent basis for decision making and failure improvement.
The e-commerce manager can also understand which products need to be kept in greater quantity in stock, to avoid stockouts.
Another point is that the descriptions of the goods can be made from the personality of the customer, which will make him identify himself even more and have the real desire to consume.
It is important to remember that the use of data will not give you a ready answer of what you should do, but insights for decision making.
4 tips for making data-driven decisions
1. Define business goals
One of the assumptions of data-driven decision-makers is that questions are more important than answers.
What is behind this concept is precisely the need for the company to define what its objectives are with that project.
It is from their choice that it will be possible to develop a strategy for collecting, storing and interpreting data that really impacts the business.
In other words, the manager’s main concern should be to focus on the result he needs. If you need numbers to plan production, you’ll need to know conversion rates by product.
If you need to improve campaign performance, you need to know how and when conversions happen.
Often, for example, carts are abandoned at night or on weekends, as people start shopping at one place or equipment and finish at another.
Each area needs to know very well the administration panel of their tools, what they can deliver and, importantly, how to consult the bases.
2. Collect the data
There are now numerous ways to capture data, but for that, the tools must be well used.
For your tools to work, the first step is to fill in all the fields, create bookmarks, keep records.
This task takes time, but this prior work results in higher quality information. Therefore, do not ignore the need to train the team so that they know how each system works and the importance of avoiding shortcuts – which usually save time at the moment and delay the delivery of results when we need to consult databases.
3. Analyze data and cross-reference for insights
As already mentioned, the data do not present the answers, not least because they are not worth much in isolation. The main thing is the correlation that can be made from the crossing of information.
The work is facilitated by the fact that all the information is present in a single system, but one should not ignore the importance of the data mining work, carried out by professionals specialized in extracting the most from each information.
Having a dedicated structure or hiring a specialized company depends on the structure of the operation, but keep in mind that the strategy is ideal to evolve over time.
Often, based on the results obtained with the strategy, the company is able to continually improve its decisions based on data.
4. Use good software
Finding the most appropriate solutions for the size of your business is important, but make sure that the available resources are being put to good use.
Choosing the right e-commerce platform helps a lot in this regard since the company has access to information that allows it to guide its strategies.