Why Customer Intelligence is Important to grow your eCommerceUpdated on February 6, 2023 in Ecommerce by Nishant Shrimali
Let me ask you something. What efforts are you putting in to grow your eCommerce? In addition, let me just add that if you don’t have your Customer Intelligence by your side, all your efforts might not help you reach the results you are wishing for.
And that’s how much the Customer Intelligence Data is important to grow your eCommerce.
Customer Intelligence has and can prove itself to be the key to grow your eCommerce by guiding your efforts, and maybe even reducing the cost you are paying to gain each customer. Sounds profitable right?
But before jumping right towards “How To Use Customer Intelligence to grow your eCommerce Sale?” Let us first find out the answers to common questions that will help you build better strategies for your online business to grow.
What is Customer Intelligence?
There are various methods through which the information of your user/customer is collected.
Customer intelligence is a process of gathering, processing, and taking actions based on the useable data that you collected.
You can also say that it is a process to collect all the data and come to a common action-taking conclusion based on analytics and not on a random guess.
It is important to note that the data which is gathered is actionable. Hence, the overall aim of customer intelligence is to find out about your customer and to streamline your efforts according to your customer’s needs or wants.
What are the Benefits of Customer Intelligence?
As said, the data that you shall collect is and should be actionable. For eCommerce owners, it starts by understanding the customer in and out with regard to business.
It can help you know- How are your customers are? What are they looking for in your products? What are their pain points? And what is the best way to reach out to them? And much more.
All the following information is then converted into Customer Intelligence, helping you to understand your part better. And when you know your customer well, you can make sure that the time, money, and efforts that you are putting in are at the right place and are completely data-driven.
According to the McKinsey Global Institute, data-driven companies are 23 times more likely to acquire customers than the ones who do not use customer intelligence.
The reason is only and only because you would know what your customer is and wants. And nothing can be more beneficial than to get intelligence data of your store.
How to get Customer Intelligence Data?
If your data is right, the benefits and scale to grow your eCommerce are un-measurable. As you know the data you collect is the direct representation of your customer. Hence it is very important that the data you collect is genuine. For that here are a few ways you can collect customer intelligence data that would be very helpful to you.
Be it Google Analytics, Bing Analytics, or the analytical data collected by tools such as Semrush, Buffer, Hubspot, etc. It can be very useful in order to understand your customer and your store.
But more than that, the data which you should look forward to is the data from Tracking Cookies, Referral pages, etc. All the data combined well can tell you about the behavior of your customer, the location, and even the device that’s most commonly being used.
Market Research & Surveys
Now as you have managed to track down the customer’s analytic data, it’s time you understand your customer’s likes, dislikes, opinions, and feedback. The best way to know this is by asking it your customer itself.
Here, survey forms and market research can really come in handy. Forming the right set of questions and targeting different customer groups would let you know what is that they desire and wish to happen (regarding your eCommerce niche).
A simple poll system can help you know about the majority of your audiences and the likes and dislikes of your customers.
Interviewing and Understanding
The final and the most versatile way of getting the customer’s data is by interviewing them. This isn’t a wide-scale project such as surveys, or analytical research but it is a target data collection for a particular group of customers.
It would let you understand further about your customer and how they indulge with your product.
Must read: How you can Grow Profit using abandoned cart emails
How to Use the Data to grow eCommerce Store
By now you have understood how you can get customer intelligence data which is only the first step to growing your eCommerce. The more important step here is to take action. Hence, here are a few ways you can use the data collected to your advantage
Now as you know your customer, it’s time to make an effort to treat your customer personally. Showing that you care about your customer, and know what they like can make a great difference.
As per Verndale Solving for CX Survey about 92% of the marketing professionals believe that personalization is a very crucial element in your customer experience.
Some steps for personalizing your efforts for the customers are:
- Adding the name of the customer while messaging/emailing can really catch the attention
- Recommending the right product to the right customer
- Editing the ad Copy according to a certain group of your customers
- Change in the price of the products
Modifying according to the pain point
The data that you collected, can also help you understand what your customers want. Let it be the way your product is presented, the way your customer experience is, and the service your customer expects.
In addition to this, it also tells you what is the reason a person would buy your product. The reason may not be the same but in the broader picture you will find out the pain points that can make using your potential customer.
Once you know what the pain point is you can modify your site, product, ad copy, or your service accordingly to grow your eCommerce.
Updating Marketing Strategies
Until now you have understood what your customer wants and how you are going to update your eCommerce according to it. But you should also not forget about marketing.
You can use the same pain point to make better ad-Copy, better banners, and a more effective landing page. In addition, as you already have your customer intelligence data, you can target where your potential customer is.
Hence you can update your marketing according to the location, likes, dislikes, devices, etc., and get the best result out of your customer.
What Should you do next
Above as you have read Customer Intelligence is all about taking steps to grow your eCommerce.
Each data that you collected is very important as it is to be considered as the key to your customer’s mind. Once you know who your customer is, what does he want, and how you can use the desire to grow your business you grow your eCommerce at a pace like never before. We highly recommended reading this article How to Boost eCommerce Business with Third-Party logistics.
Lastly, we would suggest making sure that all your efforts are streamlined to attain a single goal. If you wish to learn more about eCommerce, product photography, product image editing, and how to grow online, subscribe to the PixelPhant email newsletter below.
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