Big data for Ecommerce Small Businesses

One way to challenge big brands is to leverage data.

Which data?

Well, yours.

Amazon, Nike, etc. All the big names are into "big data" since a few years now.Sounds complicated. Sounds something like you can achieve only with a few millions in the bank.It's not.

There are several ways big data pays off instantly - and turns into revenue. The 3 main ones are:

  • 1/ Inventory
  • 2/ Customer Segmentation
  • 3/ Shopping Experience

Inventory Management

Two main reasons:

  • When you're out of stock, you miss obviously revenue - and even more costly, you potentially miss a long lasting customer to competitors. Yikes.
  • You have too much stock? Well, you paid too much right now, it's bad for you cashflow, your stock sleeps in the warehouse - it costs you a lot of money. Yikes.

Big retailers are good at this. Because of their volume and history, they're good at predicting behaviours.

What can you do?

  • Track your store searches - it gives good indications on a category appeal & a product potential
  • Estimate your average daily sales of a product to calculate your stock runway & plan accordingly.

Shopify and Amazon offer good reports for this.

Customer Segmentation

The more data you can acquire about your customers, the better.

It's easy to send a survey and questions.

It's another deal to send regular surveys and accumulate knowledge out of all the datapoints you can get - and then use them in another channel.

So what should you do?

This one's tricky - because it depends a lot on your CRM. My rules of thumb:

  • It's better to manage more data than you can handle - prioritize getting more data (and storing it) over complexifying your data structure
    Why? Because you're not (yet) a big brand - your speed is your main asset, don't get stuck because it needs to be perfect. Get the data, understand it, use it. Don't try to plan how it's gonna be used before you have it.
  • Run monthly analysis and don't just rely on tools reports. "Getting in" the data is key and leads to insights you won't expect. Get a look at some detailed profiles and anwers - don't just look at the macro picture.
  • Quarterly, make sure your data structure make sense. It's painful to migrate an entire data structure because it had grown too fast.

Shopping Experience

What's one of DTC powers over retail, even now?

In retail, everyone will always see the same products, same price tag, same billboard.

Not online. The products you see, the reco, the headlines. Everything can be personalized & improved for conversions.

Here, there are two enterprise-level tool you can use FOR FREE.

  • Google Optimize: handle your AB tests and your personnalization
  • Microsoft Clarity: understand how your shopping experience is doing.

Hope this helps. I have been reading too much useless "big data for DTC" click bait articles and got frustrated.

Hope this blog post is not useless. Take care of yourself and I wish you can get 10 minutes for yourself and your love ones today ✨

Auteur : 
Mehdi BOUFOUS
Retrouvez-nous sur YouTube pour des analyses marketing hebdomadaires.
▶ Je m'abonne !
Abonnez-vous à notre podcast hebdomadaire 3615 Marketing.
▶ Notre podcast
Author : 
Mehdi BOUFOUS
Subscribe onYouTube for weekly growth ecommerce best practices.
▶ Subscribe !
Connect with me on Linkedin!
▶ Connect
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

>

Improve your eshop with growth strategies

Your products are awesome. What if we could sell more of them?

Get ready for takeoff & land on your dream e-shop

Growth Insights • More articles

The Perfect Email Journey to get back +25% of your lost checkouts

I'm sharing here a proven tactic that drive results to get back at least 25% of your lost checkouts, while the e-commerce average is around 8%.

Read →

Your CRM action plan to take your ecommerce store to the next level [checklist included]

Launching an ecommerce store? You have everything ready, your products, your website, your design - even your analytics? Yupee !But how about your CRM ? In this article, we'll review a simple go-to plan you can start with today to extend your CRM capabilities. Let's dive in!

Read →

Facebook Ads Budget & Profitability Calculator

This calculator will let you know which budget you'll need on Facebook - and if your ads are profitable.‍

Read →

Emails Metrics A/B Test Significance Test

This email A/B test significance test will let you know which version of your email A/B test is the most performant - and on which metrics. Plus, we'll display which recommandations you can take.

Read →

How to Create SEO-Optimized FAQs To Get More Traffic

SEO-optimized FAQ for your eCommerce store gives people the information they're looking for without them having to leave your website or call customer service.

Read →

How Much Does an Ecommerce Website Cost?

The perennial, ever-so-sticky question: How much does an e-commerce website cost? The answers will vary. Also, the answer you don’t like: It depends. 

Read →

eCommerce Personalization Examples & Tactics For Shopify

Personalizing your eCommerce site is a great way to improve conversion rates.

Read →

How to Create FAQ Pages For eCommerce: Best Practices for 2023

Learn how to create FAQ (Frequently Asked Questions) for eCommerce and you’d not only do a service for your potential customers but also save time answering questions (on live chat, email, phone, or otherwise). 

Read →

Programmatic SEO and eCommerce: What are some best practices? 

Search Engine Optimization (SEO) is key to getting your website found and for you to take advantage of the phenomenal use of search engines as the starting point for most users’ journey on the web -- to find answers, to look for information, to compare product A with product B, to look for solutions, to find local stores or merchants, and also to buy. 

Read →

Proven eCommerce Marketing Strategies To Try in 2023

As far as proven eCommerce marketing strategies go, while we use the word “try” in the title, what we really mean is that you “should”. By the end of 2022, global eCommerce will be worth a whopping $5.55 Trillion. By 2023, eCommerce is going to be worth $6.17 Trillion. If anything, eCommerce is only going to get bigger and is a viable opportunity for any eCommerce brand.

Read →

Why Do You Need Landing Pages For eCommerce Sites? 

Landing pages -- unlike regular pages -- help convert better. Use them generously for all campaigns. eCommerce conversions -- along with sign ups with tracking pixels happen on landing pages. Sales happen on eCommerce product pages. All of this is tracked. 

Read →

What is a Good Conversion Rate On Shopify? [& Tips On How to Improve Conversions]

To help boost your Shopify store conversion rates, you’ll need a holistic approach.

Read →

Benchmark - Email strategies you can learn from these DTC Brands

What do customers want to see? Truth is, it really depends on what you offer and how you want to brand your business. Overall, here are the things that we highly suggest you consider when writing your newsletter.

Read →

How to increase click rate on emails?

How to increase click rate on emails? This is a very tricky question because it always depends on a lot of stuff and by a lot we mean — A LOT. So, we suggest to actually follow this checklist that we have formulated to help you get a bigger picture of what should be done. 

Read →

Growth Blog • D'autres articles

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
▲ hutte • que 2021 soit spécial • réalisé avec attention