Data Insights for Real Business
The client runs e-commerce offering a large number of various products on special deals. Together with e-shop, he runs 15 physical stores in the Czech Republic. What can we do to improve sales?
Together with the client, we start working on deeper knowledge about their audience. What customers buy certain products? Are they browsing offers from mobile and finishing the purchase on the desktop? What is the LifeTime Value of such a customer, compared to his acquisition costs?
We are now connected to the client’s CRM. Within each customer visit, we can add customer digital footprint data to their CRM account. This way we know, that they are often looking at the other kitchen accessories from the same brand. Also, they browse the coffee, but for some reason, they don’t buy it that much. Why is that?
Propensity to Buy
A „propensity to buy“ represents a likelihood that given customer or visitor will buy a particular product. It is an extremly useful tool for personalized product offering to the right audience. We are using many channels for that: email campaign, custom offers on the e-commerce website, display or social campaigns, and many others.
We implement a Behavee Insights tracking code to client’s e-commerce website. Within a week we have enough data to analyse them and offer a basic business overview: how well the traffic sources work concerning product sales and other KPIs.
Dynamic Segmentation in Real-time
Another logical step is creating segments, for further analysis and operations. Segments are being updated in real-time, and are created by combining various parameters, so for example, let’s consider customers who came from a last year’s Facebook display campaign “Coffee_for_all”, and purchased a coffee machine. Segment saved for later use.
We still have that „Coffee_for_all“ segment, and we are one click away from sending them an email when new kitchen accessories are on stock. We can precisely target those, who are really interested. And we have also pushed that audience to Facebook and Google Ads, to create a lookalike audience, to bring new potential leads in.
LifeTime Value and Retention
Let’s get back to one of the most important points: when calculating ROAS of a “Coffee_for_all” campaign customers, we now take into account not only that coffee machine purchase but their whole LifeTime Value, including „offline“ coffee purchases. Something that we can’t see in the Facebook campaign report. As it turned out, that campaign was highly profitable. And, as those customers keep buying the coffee, their value grows.
Online and offline worlds connected
We have shed some light on the visitors of 15 physical shops. A loyalty card is an ideal solution, allowing us to bind offline and online worlds together into one customer journey. And a useful discovery: a “Coffee_for_all” coffee machine owners do buy a coffee in our physical stores! The 10 Euro minimal purchase value limit on the website was the blocker for them.