Key Takeaways
- Are you worried about poor performance of ecommerce advertising?
- Data driven marketing helps you bring together the digital marketing and ecommerce domains.
- Read our article to know how data driven marketing helps in making an e-commerce business successful.
Table of Contents
1. A few facts about Data-driven Marketing
2. What is Data-driven Marketing?
3. Benefits of Data driven E-commerce marketing
4. How does Data-driven Marketing help e-commerce businesses?
- 4.1 Personalized Email Marketing
- 4.2 Targeted Advertising
- 4.3 Dynamic Content recommendations
- 4.4 Behavioural Retargeting
- 4.5 Customer Segmentation
- 4.6 Similar and Idle Users Coverage
5. Data driven E-commerce Marketing: Examples
- 5.1 Website Widgets
- 5.2 Hyperpersonalization of Websites and Apps
- 5.3 Page-by-Page Optimization
6. Data-driven E-commerce Marketing: Best Practices
7. What are the common mistakes that should be avoided in the case of Data-driven marketing for e-commerce businesses?
8. Conclusion: Future of Ecommerce marketing is Data-driven!
9. FAQs
E-commerce businesses run on bringing maximum visitors to their websites and apps to convert them into sales.
That means digital marketing of the highest order is required by ecommerce businesses.
And digital marketing is made effective via data-driven insights, or shall we say, data-driven marketing leads to e-commerce success.
In this article, we will showcase the prowess of data-driven ecommerce marketing that will encourage you to bring together both marketing and e commerce.
If you are an ecommerce business owner, a digital marketer, a white label marketer, or an ecommerce enthusiast, this newsletter will help in making your ecommerce way more successful.
A few facts about Data-driven Marketing
- Personalization of Ad copies leads to 74% increased user engagement.
- 77% of the consumers prefer those ecommerce businesses that cater to personalized customer journeys.
- An automated analytics system can boost the CTR of a marketing campaign by 75%.
- Data driven marketing helps in boosting brand reputation by 50% via appropriate sharing of valuable information.
- Hyper personalization is preferred by 64% of the marketers across the globe.
What is Data-driven Marketing?
Data driven marketing is that type of marketing that runs on valuable insights driven by analyzing vital data points.
When you run digital ecommerce marketing campaigns based on data driven insights, then you get to automatically boost your conversions as well as ROI.
A few popular data driven ecommerce marketing platforms used by marketers are Google Analytics 4, Semrush, heatmaps, hubspot and more.
Benefits of Data driven E-commerce marketing
Are you excited to know the benefits of digital ecommerce marketing campaigns run via a data driven approach?
Well, here we go:
- Better Decisions
If you can make decisions based on the current behaviour, preferences, competition, and seasonal trends of your industry as well as your target audience, then those decisions will be the best for your ecommerce marketing.
- Deeper Customer Insights
Only by knowing your customers will your ecommerce marketing deliver them the best possible content, and this is made possible by data driven marketing.
- To the point Targeting
ROI or return on investment, is largely dependent on the apt targeting of the users via data-driven ecommerce marketing.
- Hyper personalization
Users like customized offerings and messaging as it makes them feel cared for.
Ecommerce marketing is delivering it using the data-driven approach.
- Optimization & Efficiency
When all the aspects of ecommerce marketing are boosted via data-driven marketing strategies, the optimization as well as efficiency of the marketing and business processes is unavoidable.
- Boosted Conversions
When more & more visitors are coming to your ecommerce website and the website content & structure are customized to their likings, the sales conversion will be unstoppable.
- Increased ROI
All in all, your ecommerce marketing will be so refined and streamlined via data driven marketing campaigns that exponential ROI increase will be the only result.
Doesn’t data driven ecommerce marketing make your ROI hassles disappear?
How does Data-driven Marketing help e-commerce businesses?
You must be wondering how an ecommerce company can leverage data driven ecommerce marketing because it sounds irresistible.
Here’s how you leverage the data driven ecommerce marketing for your business:
Personalized Email Marketing
Email marketing is one of the most reliable ways of doing free cold marketing for your ecommerce business.
But to become the most unique emails in your recipients’ inboxes, you need to know what the recipients like and dislike.
This information is gathered effortlessly via data driven marketing.
Targeted Advertising
You wouldn’t wanna waste your ad budgets by running non or low-performing ads for your ecommerce business, right?
Via data driven ecommerce marketing, you get to act upon previous marketing campaigns insights as well as the current user preferences.
This way you craft ads that help you sell whatever like hotcakes (pun intended).
Dynamic Content Recommendations
Do you wish to wait for your competitors to launch a mind-blowing ecommerce marketing campaign and then copy it?
Or, you want your ecommerce marketing to garner the first mover advantage for your business with amazing and viral marketing campaigns.
Data driven ecommerce marketing is here to make your dreams come true.
Behavioural Retargeting
Normally, marketers would run an ecommerce marketing campaign, keep it on till it works, and then run a new campaign.
Via data driven marketing, your marketers can leverage the insights gathered from previous marketing campaigns, such as users who visited your website & did not make a sale and more.
This helps in specifically targeting these users as per their behavioural choices to ensure maximum conversions.
Customer Segmentation
By proper segmentation, you can deliver effective and truly exceptional ecommerce marketing to each of the target audience subgroups.
You can segment them depending upon their demographics, engagement patterns, purchase history, and more.
Data driven ecommerce marketing helps in gathering those data points that deliver accurate customer segmentations.
Similar and Idle Users Coverage
Your ecommerce marketing strategies can also target similar and idle users using a data-driven approach.
So that your ecommerce business can generate extra visits as well as leads.
This is how you can start leveraging data-driven ecommerce marketing.
Data driven E-commerce Marketing: Examples
Here are some real-world examples of utilizing data driven ecommerce marketing to help your brand ease into it.
They are as follows:
- Website Widgets
Did you know that websites that have widgets on them get 70% more sales?
These widgets leverage the data-driven approach to deliver user-specific information to each user, making them feel special.
- Hyperpersonalization of Websites and Apps
By now, you must have realized the significance of hyperpersonalization in today’s world.
If your ecommerce apps and websites are personalized as per the users, then you can rake in immense profits and a huge ROI.
Some of the big players in ecommerce industry are personalizing their digital solutions as per the visitors’ choices, for example Amazon, Myntra and more.
- Page-by-Page Optimization
Have you also witnessed that some of your web pages are doing way better than the others and even the whole website?
This is because those pages are optimized for the users while there is room for improvement in the rest.
Data driven ecommerce marketing updates you with which pages need changes and what changes so that the whole website can perform great.
If you include these three real-world examples for your ecommerce business, then you would see significant improvements in the visitor count and the conversions leading to ROI.
Data-driven E-commerce Marketing: Best Practices
We bring you the best practices of data driven ecommerce marketing so that once you start incorporating it in your marketing campaigns, you get the best possible results in the first go, itself.
- Setting Measurable Goals
You must have specific goals for the ecommerce business’s success, as they will become the guiding light when the challenges appear.
You can focus on reducing cart abandonment, boosting customer retention, or increasing the signups to start off.
- Crafting Data-driven Marketing Strategy
You would need to sort out the data sources, their integration, and the tools needed to oversee these while crafting a data driven ecommerce strategy.
These three things will become the backbone of your data driven marketing approach for ecommerce success.
- Ensuring Data Quality & Accuracy
The data that will drive your whole marketing strategy must be accurate and reliable.
So, keep auditing the data quality and accuracy on a regular as well as random basis.
- Segmentation & Personalization
When you have the raw data with you, it’s time for segmenting it so that your ecommerce marketing can cater personalized marketing campaigns to them.
- A/B testing of marketing campaigns
A/B testing is the simplest and yet quite effective technique, as it allows the users to choose what they like about your offerings and how they are presented.
These little insights help in delivering the best possible data-driven ecommerce marketing.
- Creating Automated Workflows
When you know how your websites and apps will react to each user action, you can automate some integral parts of customer journeys, making the conversion times shorter and customer retention maximum.
These best practices will not let you falter when you start off your ecommerce data driven marketing journey.
What are the common mistakes that should be avoided in the case of Data-driven marketing for e-commerce businesses?
Knowing what to avoid is vital as well after knowing what to do, as then you pave a path that will help the ecommerce business be successful and beneficial.
So, here are the common mistakes that must be avoided in the case of ecommerce marketing following a data driven approach,
- Over-reliance on a Single data type
Never rely on one type of data because if there are any discrepancies in it, then your whole ecommerce marketing will fail or deliver poor results.
Always have diverse reliance on data types and sources.
- Ambiguous KPIs
Never choose the KPIs, or key performance indicators, that do not give you a clear picture about the current status of data-driven ecommerce marketing campaigns.
Always focus on ROI and conversion-based KPIs.
- Improper Data Management
Since the whole of your ecommerce marketing relies on data and its quality, you cannot let the data pile up left unaccounted for.
Keep cleaning and organizing past data while adding in the current data insights.
- Avoiding Qualitative Feedback
If your ecommerce business gets quality-related feedback, then act upon it as soon as you can.
Because an issue faced by one user might be bugging others as well. Also, users nowadays share important updates on social media, be they their happy experiences or the unhappy ones.
In short, grab all the opportunities to become a better and more user-focused version of your ecommerce business and leverage data driven marketing for its success.
Conclusion: Future of Ecommerce marketing is Data-driven!
When the pressure on businesses is rising higher than the inflation or user demands, then doing the right marketing is the only way forward.
In case of ecommerce marketing, it is the data driven approach that helps you know more about your users, your digital solutions (websites and apps), and the current market demand & supply curve.
Only by adapting to the new strategies can you hope to stay relevant for your users and the stakeholders.
So choose data driven marketing for your ecommerce business’s success now!
Wildnet Technologies is a leading Digital marketing company in India that has helped ecommerce clients to rake in 50k+ orders and more than 40% increase in conversion rates, leading to USD 100 million+ revenue generation via our Ecommerce marketing services.
If you would like to know more,
- Case Study | Revolutionizing E-commerce with Custom Software Solutions
- 5 advanced E-commerce SEO techniques for Larger E-commerce websites
- Driving Online sales with E-commerce focussed Digital Marketing Services
Contact us now at info@wildnettechnologies.com and ensure your ecommerce business’s continued growth and success.
FAQs
FAQ 1: Why do ecommerce businesses need advanced ecommerce digital marketing techniques?
Ans: Because the players in the ecommerce industries are increasing and the ones that get all the traffic are using the latest and most advanced digital marketing techniques, such as data driven marketing, AEO (answer engine optimization) and more.
FAQ 2: How does AI and ML help in data driven marketing for ecommerce businesses?
Ans: Data driven marketing runs on top-quality data, and AI & ML help in gathering this high-quality data.
AI helps in automating the digital marketing for ecommerce businesses wherever possible, such as data collection, analysis, prediction, and reporting.
While ML helps in learning from the past user data to help AI predict future offerings for the users.
FAQ 3: How can Wildnet Technologies help us with data driven marketing?
Ans: We have been in the digital marketing industry for more than 17 years.
Thus, we have seen digital marketing evolve in front of us, and it has helped us deliver the latest digital marketing services to our ecommerce clients.
We understand that ecommerce business need digital marketing the most and as diverse as possible.
FAQ 4: How can data driven ecommerce marketing help in delivering mixed realities?
Ans: Mixed realities are a combination of reality as well as augmented reality (AR) or virtual reality (VR).
Users love to try out the goods offered by ecommerce businesses to see how they look on them.
Via mixed realities, it is being made available by a few leaders in the ecommerce industry.
Data driven ecommerce marketing is the backbone that helps in catering mixed realities by catering to the user preferences, behaviours, and past shopping histories as well as browsing history.
FAQ 5: What are the key metrics to be focused on in the case of data driven ecommerce marketing?
Ans: Here are the key metrics to be focused on for data-driven ecommerce marketing,
- Sales and ROI metrics
- Total Sales
- Average Order Value (AOV)
- Customer Lifetime Value (CLV or LTV)
- Checkout Abandoned rate
- Customer Metrics
- CAC or Customer Acquisition Cost
- Customer Retention Rate
- Churn Rate
- Net Promoter Score (NPS)
- Marketing Performance Metrics
- Conversion Rate
- CTR (click-through rate)
- Bounce Rate
- Traffic Metrics
- Number of Users
- Traffic Sources
- Engagement Metrics
- Time spent on Site
- Pages per Session
- Inventory & Fulfilment Metrics
Order Fulfilment Time
Stock Turnover Rate
