MoneyMagpie

Nov 26

Customer experience digital: Why it’s important for your business

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Customer experience digital is the game changer in every business enterprise. They enable sellers to comprehend how potential buyers interact with products prior to purchasing.

Most businesses, for example, have both physical and online stores. A certain percentage of their clientele prefer buying from the enterprise’s online store, while others literally fancy driving over to their physical store.

However, such enterprises keep a track record of how many buyers show up to their physical store, and those that purchase online. Using customer experience digital the seller is capable of identifying where their mainstream buyers resonate from, calculating the average profits from each and finally employing the appropriate marketing techniques to increase sales on the marginalized channel.

 

So why opt into customer experience digital?

Customer acquisition analytics

A business that spends little and successfully retains customers makes large amounts of profits. Alternatively, a business that actually puts in large amounts of investment into acquiring new customers, as a countermeasure to clients lost, most definitely does not rake in large amounts of profit.

With the help of customer acquisition analysis, sellers are capable of monitoring the various aspects that facilitate customer conversion rates, the costs per lead and costs per qualified lead.

 

Web analytics

Web analytics determine the market trend and how effective your enterprise blends, in order to make profits. This analysis is entirely based on consumer behavior when they visit your e-commerce website, or according to online market trends.

Therefore, what do all these analytics bring to the table in terms of customer experience digital?

  1. Geocodes

When you buy an item online, it is quite obvious that you need to key in your shipping address. Online vendors use this shipping address to bring purchased items over to you. However, analytic tools use this information to process quite a lot of information:

  1. Customer geographical distribution

Which region do most customers confirm orders from? Are they domestic or overseas buyers? Analytics tools also use address information to figure out a company’s clientele distribution. This is made possible by zip code geocoding and street-level geocoding, where zip codes represent a large area.

  1. Exact customer location

One of the main purposes of geocoding is to accurately reference the address provided by a customer for the purpose of global positioning. This is essential, especially when delivering goods and items to an unfamiliar location.

  1. Location-based ads.

Which products are purchased in plenty by customers from a specific location? Analytics provides in-depth information about which products have a high demand from a precise location. This enables marketers to generate location-based ads, therefore, increasing sales from the same region.

  1. Cart desertion rate analysis

Sometimes buyers visit your online store, navigate comfortably through several pages and finally add a few items to cart. Regrettably, they “abandon cart” and fail to check out. Analytic tools call this cart desertion rate. A high cart desertion rate can be a possible sign that your buyers have an issue trusting checkout methods provided.

Also, analytics tools enable you to track the average influx of repeat customers, who are more likely to opt into referral programs your company offers. Repeat buyers also have a 65-80% chance of converting each time they visit your online store and practically spend up to 50% more than first-time customers.

So basically it is a necessity for every business to adopt customer experience digital in order to understand how consumers interact with each of their brands.

 

WHAT DO YOU THINK?

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Joanne
Joanne

Some good advice for the digital side of your business.

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