Leveraging eCommerce Data Analytics to Improve Marketing Ops Productivity

Organizations that have data-driven workflows will be able to have higher customer acquisition and retention rates.

Enterprises can make micro and macro-level decisions based on the eCommerce analytics gathered to set standard marketing operations work processes. Businesses today can even get valuable business insights from the data generated from their eCommerce channels. CMOs should consider integrating the most effective eCommerce data analytics platform to get more valuable insights into the total addressable market.

The need for eCommerce data analytics

Business leaders can evaluate the data generated through their eCommerce channels to determine the customer’s intentions and which pages of the website are mostly visited by them. Moreover, the data analytics will even offer insights into which channels they engage with and what products or services are more appealing to them. CMOs should consider leveraging these eCommerce data analytics to improve the marketing operation by streamlining stock levels management, inventory management, forecasting, and pricing. These analytics can also have valuable insights about when and how to reach the customer to deliver a better purchase experience.

Also Read: Digital Marketing Data Key to Gaining a Competitive Advantage and Improving the Bottom Line

Effective eCommerce data analytics will enable businesses to identify the right audience and what the optimal price point is and evaluates if the approach is a success or not. Marketing operations that make strategic changes to their presales campaigns will be able to determine the customer needs and exceed their expectations. Organizations can even leverage clean data gathered from digital channels to design hyper-targeted marketing campaigns that create an impact. Here are a few ways to leverage eCommerce data analytics to enhance the marketing Ops efficiency:

Evaluate the business data needs

Business leaders should evaluate the type of their business and the customer lifecycle to design the campaigns accordingly. Determining all the recurring business options will help businesses to optimize their marketing expenditure. If the business has more revenue opportunities through cross-sale and upsells needs to prioritize improving customer lifetime value rather than acquiring a new customer base. Enterprises with fewer recurring business opportunities can focus their entire marketing efforts on acquiring a new customer base. eCommerce Data analytics will enable enterprises to align their marketing and business decisions to improve productivity.

Allocate the marketing budget effectively

Businesses need to ensure that the data collection channels are aligned with the marketing tools to ensure the data is evaluated in real-time to make strategic decisions. It is crucial for businesses to evaluate their budget allocation for paid, organic, branding, or conversion rates and make necessary adjustments to optimize the budget expenditure.

E-Commerce Data analytics helps an organization to make smarter budget considerations and ensure the marketing is aligned with the business goals.

Also Read: Top 4 Blunders that B2B eCommerce Enterprises Make while Calculating ROI on Ad Spend

Because evaluating the data in real-time will assist the enterprises in making more informed decisions that prevent the enterprise from significant potential bottlenecks. Furthermore, it is one of the most effective ways to analyze each marketing channel and understand whether its key performance indicators (KPIs) are met or not. eCommerce data analytics will assist in making necessary changes to the marketing campaigns based on their performance. Organizations that implement the best-automated eCommerce data analytics reduce human errors and increase marketing operations’ confidence in their decisions and processes.