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5 Ways You Can Use Big Data To Make An Impact In Marketing

For people in marketing, it’s impossible not to have heard of Big Data before. 

However, you may not be totally sure about what it is, and how it can impact you and your work. What’s important to know is that it can really change the way that you market to your audience. 

Here’s some of the best ways you can use big data to make a real impact.

Source: ibm.com

Personalise Your E-commerce

E-commerce has totally changed the way people shop, and you want to make sure that your customers can find you and your products. When you have access to Big Data, you can ensure that you’re reaching your audience in the most efficient way possible. 

When you use analytics, you can predict user preferences, offer recommendations, and more. For example, many businesses are using data to optimise their pricing. This allows them to analyse marketing data, sales history, and company accounts to see what the best price is. That should allow you to bring in more customers and get maximum profit. 

There are companies out there that have used data to bring a more personal shopping experience to their customers. Shopify suggests that E-commerce sites use something called product-detail page (PDP) recommendations to guide shoppers to the products that are based on their browsing history, locations, and more. 

For example, take Very, which uses real time data to personalise the experience their shoppers have. It uses the weather data from the customers’ location, and uses that to recommend outfits from the store. Hot weather will result in recommendations for summery clothes, while wet and cold weather will offer them sweaters and raincoats. On top of this, the banner at the top of the page will show the shopper’s name, when they visit the site to browse. 

These details are small on the face of it, but they will ensure that customers feel valued, and are seeing products that are relevant to them. 

Source: bestarion.com

Create More Relevant Content

Content marketing has been one of the best ways to bring in more leads for a while, allowing you to give your audience the content that they’re looking for. When putting resources into your content marketing, you should look into your data to improve what you’re offering. 

It’s so vital that you’re customising that content to meet your customers’ needs. With so many companies out there competing for your attention, you need to be on the ball and bring something new and interesting. 

You can look at Coca Cola to see what they can offer their customers. They pay close attention to their customer data, so they can improve marketing all the time. ‘They focus on things like social media mentions, customer service channels, and more‘ says Fiona Marron, a business writer from Lia Help and Paper Fellows. ‘That allows them to get a closer look at what their customers are looking for.’ 

Source: gonextpage.com

Improve Marketing Budget Allocation

There are more marketing channels out there than ever before. Because of this, you need to take great care in selecting the right channels for your business. It’s not easy though, as buyers are often moving through different channels, and you can’t quite pinpoint where they’re buying from. 

You can do more though, with Big Data. You can get a closer look at how those marketing channels work, and understand where you’re getting the most value. With this in mind, you can start allocating more cash to the marketing channels that are working more for you. 

Marketing blogger James Rainier from Boom Essays and Essayroo says, ‘AdriaCamps are a good example of using big data to understand where to place your marketing budget. They understood that they could focus on SEO and email marketing, which led to 66% more bookings overall‘. 

When you know where that money should be spent, then you’ll get better results. 

Source: pinterest.com

More Effective Marketing Testing

When planning any kind of marketing campaign, you need to test out your plan to see how it will work. In the past, this hasn’t been an exact science and so there were always holes that you wouldn’t find, until you set it into motion. 

Businesses are now using Big Data to test out marketing plans more thoroughly. You can test out multiple variations of a plan, and get data and ideas to see what will happen. It’s so useful to have such data, as you can get much more from your marketing with it. 

That’s something you’ll see from iCloud, which uses Big Data analytics to understand it’s marketing funnel. It took a look at how their customers had to interact with their site, in order to interact with their latest marketing efforts. 

With that information, they found the step where customers often abandoned a purchase, and made improvements to reduce that number and increase their revenue. 

Target Advertising Better

You’ll always be trying to market your business to the right audience, and Big Data can help you improve your efforts here. As you have access to data on what your audience do and where they spend time online, you can target your advertising more effectively. 

You can see The Weather Co. doing this with their marketing. They’ve seen a 10% sales increase in certain products, after they’ve used customer location data to recommend products to people in certain climates. 

Conclusion

There are so many ways Big Data can improve your marketing strategy. With these 5 strategies, you’ll be on your way to improving your marketing schemes for the better!

Start analysing your data, and see where you can start making improvements in your marketing today!

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Christina Lee is a project manager for Essay service and Academized. She focuses on marketing news and technologies, for them and services like Ox Essays.

Why Your Retail Business Needs a POS Software Development?

Over the last decade, the retail industry has undergone a dramatic change. Retail business management, small or large businesses are not willing to make significant investments in hardware systems. 

Instead, retail businesses are adopting point-of-sale software. Therefore, the point of sale software development is considered to be at the core of retail operations. 

The popularity of point of sale (POS) systems in the retail world are constantly replacing cash registers. Contrary to the traditional system, POS solutions optimize sales by collecting relevant customer and goods data and adjusting stock levels in real-time.

What Is A Point Of Sale (POS) System?

Simply put, a POS system is the time and place where retail transactions take place via face-to-face payments from customers. Being central to any retail transaction, it handles payments, processes customer purchases, and record sales. Therefore, having a good POS developer will benefit the retail business. 

A good retail POS system will offer advanced functions like inventory, employee and customer management, track sales, reward employees, and correct pricing. Therefore, it is crucial to get the right software development company for getting a scalable POS system. 

Types of POS systems

The POS system can range from a simple processor to a complex cloud system based on organizational needs. A choice can be made depending on the retail business size and whether it’s an online or physical store. 

Broadly, POS systems can be classified into:

Mobile POS

Mobile point of sale or mPOS utilizes electronic devices like smartphones or tablets as terminals to attach credit card readers. Therefore, mobile POS is a portable and convenient option for most retail businesses. It also supports the attachment of peripheral devices like receipt printers and barcode scanners. 

mPOS is suitable for small retail businesses or enterprises, small pop-up shops, retail stores, or quick-service restaurants. 

Terminal POS

A terminal POS solution is essentially a hardware or software-based system. It includes add-on peripherals such as barcode scanners, receipt printers, credit card readers, and cash drawers. Popular features of this system are inventory management, CRM, payment receipts via email, reporting and analytics, and customer loyalty programs. 

This solution is the best for retail establishments, namely restaurants, book stores, grocery stores, boutiques, salons, and electronics stores. 

Terminal POS is popular in the aforementioned areas due to its reasonable prices and advanced functionality. 

Cloud POS

Cloud POS is known as a web-based solution. It can be integrated with a retail business’s existing hardware like a tablet, computer, or printer as an online POS system. 

This system encompasses all features of a terminal POS system. In the case of the terminal POS system, it is installed in servers. Whereas the cloud POS is installed in data centers curated by POS vendors. 

This solution is applicable for all types of retail businesses, mainly startups because of their tangible benefits in terms of simplicity, cost, function, and flexibility.

Source: unlocklive.com

Components of a POS system

In a broader sense, the two main components of a POS system are software and hardware components.

The software component is either a cloud-based or an on-premise model.

  • Cloud-based or Saas is a system that can be accessed and supported via the Internet. This allows the system to track sales, sync, and store necessary retail data.
  • An on-premise system is more of a traditional software model. For its installation, businesses might have to purchase multiple licenses. In addition, it may become cumbersome for large retail businesses to manage and update the software system by themselves. 

The hardware component remains the same regardless of the vast choices in the software component. It commonly consists of the barcode scanner, receipt printer, register, cash drawer, and credit card payment system. 

Source: posintl.com

Benefits of POS development

  • Provides an easy and sorted format of payment functionality.
  • Improved sales tracking helps to track information about tax, revenue, shipping, and quality.
  • Reduces chances of error, common in case of manual updates.
  • Lowers costs on inventory overheads.
  • Saves effort on salesforce and speeds out the checkout process.
  • Quick and easy automation of accounting tasks and report generation.
  • Profitable relationship with vendors due to timely reminder of inventory levels.
  • Direct marketing campaigns are processed by system-generated customer information.
  • Increases website traffic and customer satisfaction.
Source: softwareadvice.com

Reasons why POS software development is necessary. 

To create an effective POS system, several advanced features must be integrated into the POS software. Get detailed information about the best-reviewed POS systems on Top POS Systems

Listed below are some of the major features of a POS software solution. 

Integration

An advanced POS system must have an exemplary configuration for easy integration with other modules: inventory management, accounting, loyalty, gift cards, time, and attendance. In addition, a well-integrated POS system leaves less room for any error or discrepancy in data when transferred manually from one system to another.

Cloud integration

Often the on-premise point of sale solutions can come across as heavy and complicated. This is where cloud POS integration comes to the rescue. It easily customizes a simple POS system as per the likings of a particular retail business. 

Inventory management

Every retail business experiences inventory shortage and some point of time. This issue can, however, be solved through on-site inventory quantity management. In addition, inventory management opens a window of opportunity to observe the stock levels closely at all times.

Employee management

This feature allows retail business owners to manage their employees. For example, a sound POS system helps to track employee clock-in and clock-out timings for shifts easily. Alongside, it allows employee scheduling and payroll management. 

Source: ehopper.com

Streamlined purchases

Businesses, regardless of their size, find this feature a crucial aspect of their industry. It refers to the process in which a company obtains goods and services. This has a significant impact on the overall spending, profit margin, and success of a retail business.

Advanced billing system

A common feature to run any retail business is that POS software is necessary for the billing system. It offers hassle-free printing of bills and invoices.

Customer relationship management

Managing good relationships with customers is a crucial part of running any retail business. Customer relationship management or CRM is beneficial for maintaining the profiles of regular customers. The customer details may include their purchase history, date of addition to the system, personal details like email id, mobile number, and identity proof. It allows businesses to enhance customer experience personally without further complications.

Loyalty programs and discounts

Apart from CRM, the addition of customer loyalty programs also enhances the customer experience. For example, based on previous purchases from a particular retail store, the POS allows discounts and coupons for regular customers. This is how even potential customers can become frequent buyers of a particular retail store. 

Source: connectpos.com

Accessibility to electronic devices

This POS functionality employing electronic devices offers remote access to retail store details. As a result, it helps to manage the business without being physically available at the store.

Sales reporting and analytics

Another efficient feature is the POS system’s capability to track the number of products and goods sold. In addition, it provides detailed reports on the amount of revenue made from each product by the retail business. Upon getting a grip of the bestselling and least-selling products, it’s easier to prioritize the available products’ money, time, and effort.

Security and reporting

This functionality of a POS solution works in compliance with Payment Card Industry Data Security Standard (PCI DSS). It serves to protect the integrity of sensitive and critical customer data.

Accurate reporting helps to maintain a stable connection with all departments within a retail business. This helps retailers keep track of the ongoing trends, where bottlenecks are occurring, or opportunities to grow. In addition, a comprehensive insight helps to review the inventory at the SKU-level sales view.

Wrapping up

With technological advances, a POS system will help retail businesses to promote their long-term growth. 

First, figure out the estimated cost of POS software development by putting in enough time and research. For example, 2% to 3% of the expected cost may come from a retail business’ annual revenue. At the same time, 12% to 18% of the exact cost may be covered through yearly maintenance and upgrades.

The development of POS software comes with a price. When consulting with a software developer, remember to check if hidden costs include hardware, credit card, or customer service charges etc.. 

Therefore, choosing the right POS development company is essential based on the business needs, budgets, and system requirements. 

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Sarah Schumer works full-time as a Content Manager with a Outreacheo. She is also a freelance writer for multiple clients across multiple industries. She comes with several years of web content writing experience.

5 Ways to Make Your eCommerce Site User-Friendly

Did you know the “15 seconds rule?

Fifteen seconds, in fact, less is the average time a user spends on your website, and that is all you have to get their eyes glued to your site and capture their attention. Failing to do so could significantly increase your bounce rates, which will make supreme influencer Google” unhappy. And if you plan to stay long in the business, Google rankings is one of the most critical aspects you should bother about.

Good usability keeps your customers hooked and avoids leaving the site, which fuels your website’s success and performance. Your website ranks well with time, and it also attracts previous customers to keep coming back.

 Let’s talk about a few most essential ongoing eCommerce trends you should swear by as an eCommerce business owner if you want the numbers in your favor.

Quick Loading Times

With your users having a short attention span, you cannot slide this essential component under the table. Your online visitors expect web pages to load with the speed of light. 

  • A second delay on your web page’s loading speed can reduce the conversion rates by 7%.
  • Customers anticipate the loading speed within two seconds and abandon the site if it takes more than three seconds.

These numbers shall keep you on your toes if they do not already. Sadly, despite adding all the bells and whistles to your web store, your online visitors tend to care more about your loading speed. It is not only confined to customers, but fast website speed also makes Google algorithm happy and improves your search engine rankings. Thus, please reread the numbers if you plan to put more attention on aesthetic design pages or add more content while your website’s speed sits in the aisle.

Several online tools analyze your site’s current performance, like Pingdom or Google’s Page Speed Insights. Based on your analysis, you can optimize your speed by:

  • Compressing the size of images on your website.
  • Minimize the plug-ins and widgets on your website. Ensure whether only relevant analytic codes are running on your site, which is significant for your business.
Source: techieapps.com

Make Your Site Mobile-friendly

In 2021 and the future, you cannot choose between mobile-friendly or user-friendly, either both or none. That’s how important it is to optimize your site for mobile. 

After all, mobile optimization leads to:

To optimize your website for a mobile-friendly experience, a couple of points you should ensure:

  • Navigation– Since mobile screens are smaller than desktops’ or laptops’, navigation plays a significant role in making or breaking the deal. It has to be simple, straightforward, and all essential information should be easy to locate. You would not want your customers to second guess their buying decisions by having them searching hard to place the order.
  • Product Presentation– Online customers hesitate to shop online since they don’t have the luxury of experiencing the product quality beforehand. If your product presentation is confusing on mobile, you’ll miss out on a significant number of conversions. Thus your products and related information should be evident on a mobile screen. It has two primary advantages- it pleases your customers with clarity and satisfies Google by reducing your website’s loading time.
Source: weblinxinc.com

Choose Colors Carefully

Once you’ve attracted online visitors to your site, it’s time to keep them hooked so they make the final decision of catching the deal and not leaving the site halfway. You need to strike the right balance between elegance, attractiveness, and clarity. 

Remember, color is emotion! If you wish your visitors to remember your brand, you need to evoke emotions with them. 

Your color palette should also resonate with your brand, which keeps your brand impression in hindsight. It should maintain the proper contrast between the background and text, so your customers don’t find it hard to read online and strain their eyes.

If you choose your colors carefully it can create a strong brand identity for you while also driving conversion. Colors can be used to convey the message about your brand but it can also create a sense of uniformity among diverse products on your website. 

Source: pinterest.com

Easy Registration

Placing multiple CTA’s to collect additional data can help marketers plan better marketing campaigns and make informed decisions

However, if done wrong, this can severely annoy customers.

Think about it from your customer’s perspective, would you like to sign up for little details about you throughout the navigation process? If you said no, please keep reading ahead.

Plenty of sign-up windows that aren’t necessary can disrupt the seamless user experience you intend to provide. 

Moreover, your customers can find it time-consuming, and if they are impatient B2C customers, you’d not take the chance ahead.

However, there are multiple options to avoid getting on your customer’s nerves-

  • If you wish to increase the accounts registered, include only the necessary details or small information fields. For example- gender, DOB, etc.
  • Don’t go for informational fields that take a longer time than what your consumers anticipate. Don’t compromise the primary goal for the sake of additional data.
  • Information like address or payment details should only be included during the final checkout process since they don’t bring much significance at the initial stage.

Meanwhile, for B2B customers, make a unique registration form for wholesale purposes, and if you add other necessary fields, ensure moving ahead in chronological order for their convenience.

Source: nopaccelerate.com

Listen to Your Customers

This never goes south! Before serving them something you want, ask them for what they want!

Ask your routine customers about their experience with your website and what changes would they prefer? Further, take time to collect, analyze and process the feedback. Your customer feedback can get you brownie points for added revenue and bridge the loopholes you missed earlier. 

Customers often leave genuine feedback regarding what they liked and what disrupted their process of purchasing. Do not be afraid of negative feedback – having negative feedback is better than having none at all. Negative feedback can help you to understand what needs to be improved within your existing products or changed in your product roadmap. Such a product roadmap can also determine which products are not working out to be big hits or which products need to be produced in higher quantities.

When you ask your customers for feedback, you’re effectively improving your means of communication with them and when you respect your customer’s feedback, it will result in higher chances of revisiting your website.

Source: brilliantbusinessthings.com

Wrapping Up!

We’ve compiled five basic yet significant tips that can aid your goal of creating a user-friendly eCommerce business for your audience. They will ensure a delightful experience for your customers, improve your SERP rankings and visibility. 

Such an approach will ensure that your customers recognize your brand and return to your store for more purchases. If you continue with careful strategy for your eCommerce site, you can drive more traffic to your online store

Which trends did you like the most? Do let us know. 

Headless Commerce: Is it the Future of Online Sales?

Online shopping habits have greatly altered in recent years. Today, people use smartphones far more than their desktop computers to buy things on the Internet hence they expect much more from the online stores

Outdated e-stores with sluggishly loading pages, inconvenient navigation, and generally poor performance don’t get the approval of buyers. For businesses, this simply means lost sales if the store is not compatible (from the technical perspective) and won’t live up to the audience’s expectations. 

Bottom line: change requires change.

Headless commerce is a new trend that determines the future of online selling. 

Find out what’s all the fuss, how it differs from traditional commerce and how merchants can benefit from a progressive frontend.

Source: saleslayer.com

Defining Monolithic Traditional Commerce Stores

The current situation is as follows: most online retail stores that we see online today are traditional commerce ones. A large portion of them was built a decade ago and uses heavy monolithic architecture.

This type of system keeps it all in one place; that is, everything is set up and maintained in a “single environment”. As a rule, these solutions are used to serve just one channel – in most cases, it all goes down to one site that’s mainly aimed at desktop users.

The backend and the frontend of such stores are closely interlinked. 

For example, this kind of architecture can be compared to a large warehouse that stores the entire data scope of your site. This includes the content that’s seen on the frontend by users along with all the information that’s managed in the backend (product database, order history, payment logs, customer data, etc).

In turn, this is why stores aren’t flexible enough when it comes down to their customization and how fast users receive the requested content on their screens.

Source: medium.com

The Biggest Drawbacks of Monolithic Architecture Stores

  • It takes a great deal of time to build monolithic websites in terms of development (since it involves both the frontend and the backend being tied together).
  • Moreover, stores with such coupled architecture are generally slower than headless ones. I.e., it takes them much more time to fetch the required content for users, which often causes irritation and bounce.
  • It’s time-consuming to make any changes, updates, or deployments. Developers who work with traditional commerce systems have to make changes in numerous places when they rework the code, making sure nothing else breaks in consequence. This implies that there’s practically no flexibility, leading to longer development and deployment time which backpedals the implementation of updates, features, and adopting new technology.
  • It gets tricky if you face the need to create something custom. Since this approach is very closely tied to the used framework and toolset, most “moves” that you can make with the site are often predefined. Topping that, because such traditional systems “run by other rules”, when you need something unique, there will most likely be big obstacles. This primarily regards changes to the store to suit mobile devices that require a different look.
  • With a monolithic store, you often get stuck with some solutions. The thing is that not everything can be updated or tweaked. Design is commonly a sore subject as, in most cases, there are big restrictions and limitations of what you can and cannot do in terms of an eCommerce store’s UX and UI (especially if we keep in mind design variations for multiple devices).
  • Most importantly, sticking to a solution that can’t be in line with the times and that will soon be outdated is not the best decision for online retail businesses. After all, you’ll have to shift to something else at some point in order for your business to adapt to the times, drive traffic, and convert.

Explaining Headless Decoupled Commerce Stores

As shortly mentioned earlier, the shift towards headless commerce is the next big deal in online retail. This rather recent trend revolves around such an architecture that splits apart a store’s frontend and backend.

Decoupled headless commerce systems use API to connect the backend with the frontend and have the frontend based on a modern framework (such as ReactJS or AngularJS). This helps the system quickly deliver its users the content that they want to see on the store no matter the used device.

Image credit: Pexels

Due to this separation, one single store can have different “heads” that’ll serve separate client touchpoints. That is, it may offer multiple solutions for users who wish to shop in the store using various devices.

Each “head” can be adapted to work with a specific device: smart home technology, a mobile phone, a desktop computer, a watch, a smart fridge, a voice assistant speaker, etc. They’ll be attached to the backend of the store via API. Thus, if you want to have the chance to support multiple channels, headless commerce can be what you’re looking for.

Furthermore, in turn, the backend of a headless commerce store can be divided too. This division is referred to as microservices. For example, the payment and search can have their own databases as opposed to a single one for them all. It allows avoiding “snowball” breaks and data mix-ups. 

In general, optimizing a site and its performance is much simpler with headless because it’s lightweight. The same applies if you want to have custom solutions that don’t depend on pre-set tools and layouts. Clearly, it makes sense to have a scalable site that’s not fully dependent on a single CMS.

The approach can also safeguard against mutual breaks. So, if you want to stop worrying that changes on the frontend can negatively affect the backend (or the other way around) during deployments, releases, or updates, don’t overlook headless commerce. Your dev teams can work separately on the frontend and backend without going back and forth.

Source: connectionmodel.com

The Drawbacks of Headless Commerce

  • Such changes won’t happen in a day. This is the first thing that you should keep in mind.
    Splitting an existing store’s backend from the frontend usually requires a load of “heavy-lifting” from the development perspective. Just as it is building a headless store from scratch.
  • If your online business is large-scale, you most likely have a highly customized monolithic store. In this case, your first option is building the headless commerce site from the ground up, i.e., not investing time in splitting what you have.  Alternatively, you can decouple your existing site’s frontend and backend, creating an API for the latter. For a large enterprise, headless commerce makes sense in this scenario if you have many unique solutions developed specifically for your business. But prepare for the long hours and costs that imply.
  • Next, there may be a necessity in creating plenty of UX\UI designs. Since there may be no frontend designs for the devices you want your store to support, this will require the work of designers. They’ll have to make the “looks” of the headless storefront for multiple endpoints. This implies a lot of hours from the developer’s side too to implement the UI and UX. Bear in mind that there’ll be a time-consuming UX\UI design stage of the entire site and its further development.

Undoubtedly, such work comes at a cost. Finding a team that you can trust with such a complicated headless project isn’t easy either. But this is the sacrifice that’ll pay off both short-term and long-term.

So How Do You Get Started with Headless Commerce?

Source: thirstcreative.co.au

There are numerous paths to follow if you’ve decided that you’re going headless. Here are some tips for you to get started.

Step 1

Before you begin the search for the optimal headless option for you, browse the web for some examples and think about what you have at the moment.

Step 2

Do some planning on the scope of work that’s ahead and think your strategy through.

The great thing is that you don’t have to build the whole store simultaneously. You can take things one piece at a time. For example, you may first transform your eCommerce store into a progressive web application (PWA).

Getting a PWA can be the big primary decision that’ll take you closer to headless commerce. You’ll therefore prepare your store for the attachment of other “heads” someday in the future as a PWA’s architecture presupposes decoupling.

Progressive web apps have many benefits, crucial of them being the fact that they optimize both the mobile and desktop versions of the store. This can cater to the needs of most of your audience today and provide the needed level of customer experience.

Plus, PWAs have a design that has “copied” the best that native applications provide, they work in browsers and don’t have to be downloaded, and are super fast. Here are many Magento PWA examples that you can take a look at.

Below are a couple of screenshots taken on a mobile device from the Apivita cosmetics site that is a PWA. It’s simple to navigate and has a neat design!

Source: Apivita

Step 3 

Define which current weak spots you want to improve, what are your main goals and which results you want to achieve in the long term.

Step 4

Determine which functionality you’ll need and which things should be your priority (for example, reaching impeccable site speed or supporting different devices).

Step 5

Finalize your budget.

Step 6

Consider which eCommerce platform you need and the approach to crafting a headless frontend and backend that’ll be right for your specific business. In most cases, you’ll need a team of professionals that specialize in a particular platform to work on your project.

Source: droptica.com

Final Say

We’ve seen a huge growth in online sales in the past few years, especially caused by the recent global pandemic.

Such a situation leaves business owners with the decision on whether to start reworking their online stores now or not. And the best choice here is to do so without delay. Optimizing stores in terms of their speed, UX\UI, performance, and capability to serve multiple endpoints is a must for user satisfaction, SEO, and conversions.

And what’s for headless commerce, if your business is planning to expand to omnichannel sales in the future, this is the only correct route on your map. A good point to start your online store’s “journey” to “destination headless” is converting it into a progressive web application.

10 Top Metrics for a Successful Analysis of Ecommerce Apps

If you’re an online retailer, it’s likely that your eCommerce business already has a mobile application. 

An app works equally well for e-shops selling furniture, online casinos with games like Fruit Spiele, or any other enterprise that provides products and services via the web. 

Mobile application promotes your brand to customers 24/7 and makes it easy for clients to make quick purchases. The best part is that a mobile app enables consumer actions to be visible and trackable. You can tell how many people clicked on the specific offer, how long they engaged with your content, how many pages they viewed, and much more. 

However, with a pretty much endless number of metrics you can track, it can become hard to decide which ones are worth your time. 

Here are our ten metrics to observe for eCommerce growth to help you make an informed decision.

Source: cedcommerce.com

1. Cost per Acquisition (CPA) 

No eCommerce analyst can ignore the importance of how much it costs to acquire every new client. These expenses include discount offers, creating in-app marketing materials, and everything else it takes to turn a prospect into a buyer. 

So why is it one of the most important eCommerce metrics? 

Knowing the cost of efforts you need to make for a customer to buy for your products enables you to revise your marketing strategies and eventually lowers your CPA

For example, after reviewing the data, many businesses find that they pay too much for their customer acquisition. A simple tweak in the adverts or a further segmentation of the audience can help reduce the costs. 

2. Ecommerce Cart Abandonment Rate

The cart abandonment rate on your eCommerce website and the app shows how many people add your products to the shopping cart and then won’t buy. 

If the number is too high, it indicates that something is wrong with your checkout process. Perhaps the pages load too slowly, or maybe there aren’t enough payment options. You can fix these problems by cleaning up your app’s code to make pages load faster. 

Plus, consider redesigning the checkout pages and the interface (UI), making them more user-friendly and featuring all the popular payment gateways.

Source: yukaichu.com

3. Knowing the Average Order Value (AOV) 

The average order value (AOV) is how much an average customer buys from you. 

You can first track the whole number of the AOV and then divide the buyers into groups by demographic, age, sex, etc. That allows you to see your highest AOV customers and target your ad campaigns specifically for them. 

If you have an online shop, you can increase your AOV via different methods. 

You can raise the prices of your products or services but you must be very careful as higher prices may discourage customers. Make sure to carefully plan and evaluate your strategy before its implementation. 

You can also implement upsell or cross-sell methods while discounts and free shipping are still a common popular strategy today if you wish to increase your AOV. 

Source: mageplaza.com

4. Customer Engagement Drives Sales

You can measure your customer’s engagement levels via many factors such as the number of subscriptions, shares, and reactions you get etc.. 

If people like your content, they are very likely to interact with it and it may lead directly to sales. 

Here are some of the most vital customer engagement metrics to follow that have a direct impact on eCommerce conversion rate: 

  • The number of people subscribing (and confirming it) to your newsletter via the app
  • The most clicked links 
  • How long consumers stay on various pages in the app

5. Know Your Conversion Rate 

If you’re doing any online business, you probably know well what an eCommerce conversion rate is. To recap, it’s the number of customers who purchase after taking a look at a product.

A conversion rate can be widely explained as a user completing desired actions predefined by your company – in summary, the total of all individual goals completed. 

In eCommerce, it is defined as a percentage of website visitors who actually complete an online transaction from your store. 

You can compare Conversion Rate values with other metrics like traffic sources, average order values (AOV), page views and more, to get insights into customers’ online habits. 

The findings will help you not only to increase your conversion rates, but also to improve your price structure, copywriting and SEO, contributing to your entire brand appearance.

Source: growcode.com

6. Customer Lifetime Value 

Customer Lifetime Value (CLV) tracks the average value a certain client brings to your company throughout their lifetime. It’s a metric measured by a client’s repeat transactions and average order value (AOV) to distinguish between one-time customers and those who stick around for years.

The thing is that many businesses spend too much of their valuable resources on acquiring new customers. 

A more cost-effective approach is focusing on the clients who are already loyal to your brand and eager to buy more from you.

If you wish to increase your CLV, there are a few tactics you can use e.g. you can make it easy for customers to return items if purchased from you, set expectations regarding delivery dates, create a reward program to encourage repeat purchases or offer freebies for buying from you but the most important method is to STAY IN TOUCH. Long-term customers want to know you did not forget them so make it easy for them to reach out to you. 

Source: alexanderthamm.com

7. App Speed

Nothing makes a customer quit an app quicker than slow-loading pages and you can’t blame them. 

It’s not easy to engage with an app’s content if it takes minutes to show up on screens. 

Luckily, you can track the speed of your interface and its functions. When anything takes over two or three seconds to load, you should consider fixing it.

8. Gross Margin of Your App Sales

The money you made by selling your items, minus the inventory costs, is your gross margin

In other words, it’s your profit. The average online shops on eCommerce platforms have a gross margin of 30 to 40%, and every business should aim at 40% or higher. 

However, keep in mind that it’s vital to track these numbers over a long period. Don’t hassle too much about weekly losses or occasionally lost customers. The overall profit of a whole year is what matters. 

Source: insidesmallbusiness.com.au

9. Average Time Spent on Resolving Tickets

Knowing how much time it takes for your customer support to solve support tickets is the first step in speeding up the service. 

You might consider installing a 24/7 accessible chatbot for your customer support. Chatbots are software programs created to engage with users automatically. It can respond to messages containing specific words or phrases by offering a predefined response. Chatbots can also use AI or Natural Language Processing (NLP) to analyze and understand incoming messages and provide an appropriate answer in real time. 

It’ll be worth the effort because customers who have to wait for days to get their issues resolved are unlikely to return and buy from you again.

Source: kommunicate.com

10. How Much Revenue Your Ads Bring

Dividing your overall revenue with the amount of money you pay for your marketing efforts gives you the value of how much money every dollar spent on ads makes. Your website can earn revenue when visitors engage with your ads, commonly by generating impressions, engagement and clicks. 

The main aim is to keep the expenses as low as possible while reaching your target market effectively. Many things depend on the pricing model you choose so it is crucial to get to know some of these models – there are many pricing models like CPC, PPC, CPM, CPI and more. Among these, the most widely used is CPM (cost-per-thousand) and CPC (cost-per-click)

Keep experimenting with new types of ads to get the revenue/ads cost number as high as possible. Finally, the content itself should be valuable to your visitors to attract them into spending more time viewing your ads and making purchases. 

Conclusion

Ecommerce, by definition, means doing business over the Internet or online. 

A great thing about online transactions is that everything is measurable so keep an eye on the metrics outlined in this article. They’re all key performance indicators (KPIs), and tracking these eCommerce KPIs with specific targets in mind will enable you to make the most out of your in-app sales. 

How To Boost Your eCommerce Mobile App

Last time I wrote about the top functionalities that each ecommerce app MUST have, but now we will explore features that can help your eCommerce app to get a competitive edge over other apps.

Take a look at some features that can help your mobile app gain more popularity.

Augmented Reality 

Augmented Reality (AR) and Virtual Reality (VR) have increasingly become a part of mobile development. You should consider these technologies if you want your eCommerce app to make a difference.

AR refers to superimposing virtual objects onto the real-world items using your mobile device. The technologies have become mainstream with the release of individual frameworks for AR content development by Apple and Google. 

Using AR enables you to showcase a much better view of your products and trigger users for further engage with your app. Users can view your products from different angles which ensures that they are satisfied with the item they choose thus reducing churn rates.

Source: veeqo.com

If you want to step outside of standard and get a bit more creative, consider adding VR to your mobile app.

For example, if you offer some clothing items, VR will help consumers to check how the clothes will fit them. The same thing can be done for many types of retail stores, no matter if you sell clothes, sunglasses, hats and so on.

Source: ikea.com

AR and VR give you an opportunity to present your products to your customers in a real life context. Some great examples are IKEA and Sephora

These technologies give users try-out experience – such real-life interaction gives users a chance to reach a conscious decision.

Gamification 

Gamification is a process of adding game-like elements like points, scores, etc., to a non-game environment like education or eCommerce. 

By using gamification in your eCommerce app, you create a story where users can earn loyalty points, complete milestones set upfront, share their achievements and more. Gamification increases chances of returning customers who will use your app for future purchases as well.

Source: starbucks.com

Today, engagement is the most important for the success of any business let alone eCommerce – that’s where gamification comes handy. It helps to provoke word of mouth and increase your customer loyalty as well as retention rates. 

H&M developed such an idea to H&M club – the story goes: ‘Become a member and get a 10% discount when you join, unlimited free delivery, earn points on all or some purchases and get exclusive discounts’. They went the extra mile and added some personalized features like 25% discount on the users’ birthday, early access to selected collections and so on. 

Source: www2.hm.com

It’s challenging for a mobile app to gain popularity within eCommerce, yet it is not impossible with right tools, techniques and a great development team

Recommendation System

Recommendation system is a type of information filtering system which analyzes user behavior to showcase personalized messages or content.

This feature helps you to engage customers and improve cross-selling. It’s similar to experiencing top eCommerce apps like Amazon where the algorithm is designed using Machine Learning (ML) to help the app to learn users’ preferences and display relevant products.  

There are different types of recommendation systems:

  • Collaborative filtering: similar to Linkedin or Facebook where you get friend suggestions based on mutual connections or similar demographics and/or behaviour. It is effective yet it requires a fair amount of customer data (many users)
  • Content-based Filtering: based on customers’ likes as each item carries certain attributes or keywords. Items are recommended if the characteristics match the user’s profile. It’s less effective as it’s not easy to attach attributes to the items and the recommendation may turn out to be vague.
  • Hybrid Model: It’s a combination of the first two types. By combining the two approaches you can enjoy the benefit of both without having to handle drawbacks. An example is Netflix which earned many loyal users with such approach.

If you use a recommendation system, you can provide personalized suggestions to consumers and improve catalog visibility – it is similar to brick-and-mortar stores where salesmen understand what the buyer is looking for and shows only preferred products.

Source: oldnavy.gap.com

Customers looking for the items in an app will use these recommendations to access the preferred products and quickly complete the purchase.

Recommendation system can bring you some level of trust from your users thus making them into long-term customers which is essential for every business not only eCommerce.

Geofencing

Geofencing is the technology that enables location-based marketing. 

Geofencing can be another valuable element of brand apps enhancing the experience of product browsing and shopping. 

Your mobile app can make use of GPS, RFID, Bluetooth beacons etc. to allow your app to identify the location of the user. 

With geofencing, you can send customized marketing messages to users based on their location. 

For example, you can send promotional offers the very moment the user enters a marketplace – it will ensure that you take advantage of timing.

Geofencing can automatically detect which store the user is in and provide them with a map leading to specific products based on their position. This type of technology can help businesses to retarget customers later. 

Source: econsultancy.com

Keep in mind that while geofencing automatically requires permission to access location data, not all users will be aware of what they’ve done. It’s vital for your business to fully state why and how you are using the data so to explain it to users especially in countries where strict data regulations apply like GDPR (General Data Protection Regulation).

This technology is very popular and might be a good idea to consider for your e-Commerce mobile app. 

Mobile Cloud Computing

Mobile cloud computing is a combination of cloud computing and mobile computing to provide better user experience. 

One of the examples is that a cloud engine reduces the server response time thus increasing your mobile app speed.

Your expect your business to grow in the future and it’s vital to scale it as it grows. Mobile Cloud computing provides scalable structure for your business needs – it allows you to scale your services up or down as per the demand, traffic or seasonal spikes.

For example, while a sudden spike in traffic can slow down a website, cloud computing provides you with a greater bandwidth, power and storage. 

Source: newgenapps.com

As eCommerce business greatly depends on its customers’ data, it’s wise to use cloud-based structures – it can save your business from data loss and keep the data secure, backed-up and easily accessible.

By using mobile cloud computing, you can ensure that your app has both quality and performance. 

Chatbots

Chatbots are programs that can understand human inputs within the right context and provide outputs that can be helpful to users.

Chatbots use NLP (natural language processing) to understand the context behind a user query and provide the most suitable results accordingly. 

A customer can ask about purchase suggestions, payment process, raise issues or find desired products and more with the help of a bot. 

Source: rubygarage.org

Benefits of having a chatbot are huge – chatbots require a small investment for development and maintenance allowing instant assistance to users without having them to wait in long calling queues on the helpline. 

Chatbots provide better engagement – they are specialized in giving advice on a certain subject anytime while people cannot work 24×7 during a week. The result is serving customers whenever they need. 

Personalization is also important – although FAQ on your website can provide some answers, chatbots can immediately answer your customers’ queries and help them with personalized recommendations afterwards. 

Multiple Shipping Methods

You should provide better choice in shipping methods for your consumers.  

People like to have their items delivered as per their personal needs. For example, if a customer wants delivery only to their PO Box address, then you should have that option. 

Allowing users to choose from various shipping options and letting them add the shipping address easily will create a positive user experience in your e-Commerce mobile app. 

Different available shipping methods is a must-have and it would be practical for users to show the cost and estimated delivery time for each option.

Source: quora.com

If you start with developing an MVP, you can start with a simple option for users to order an item to one of your stores and once the app gains popularity, you can upgrade this feature and add new options. 

Another feature that is nice to have is the option to easily check the shipping status of the ordered items. It will help to boost transparency and enhance the quality of interaction that customers have with your store after completing the purchase. 

Source:
 https://www.spaceotechnologies.com/

Users like to know the details about their online purchases so this feature will help them to know exactly what is going on with their ordered items. 

Loyalty Programs

Customers spend 90% more time in mobile apps than on mobile sites and a research has shown that mobile app users are more likely to return to your mobile app within 30 days.

People who decide to download your mobile app initially show a higher level of investment in your brand. Besides regular promotions and exclusive access to products via VIP membership that many stores offer today, you can also give users an option to collect points and win discounts through your mobile application – driving loyalty through a special loyalty program is a smart move.

Source: devteam.space

You can easily notify your customers about the upcoming events, exclusive discounts and rewards if they wish so. You can also use the app to distribute promotion codes to users, motivating them to download and use the app. 

Offering special promotions and discounts as well as making purchase simple for your users will improve user experience and increase sales as you’ll be reminding your customers to make purchases on a regular basis.  

Extra Functionalities

Besides the above mentioned add-on features for an e-Commerce app, there are some extra functionalities that are optional but can be added to boost your sales:

  • Push Notifications – send personalized messages and offers
  • Beacons – personalize push notifications better per customer offering them exclusive deals
  • Magazine – an in-app blog about the latest industry trends
  • Store locator – to easily find a brick and mortar store nearby. 
Source: slideshare.net

FINAL WORD

The eCommerce mobile app development process is full of challenges because you are trying to squeeze a lot of content into small screens and it comes with certain compromises. The process needs to be quick, intuitive and transparent and it should encourage customers to complete the purchase.

Another way to boost your mobile app is to build your brand. If you want to increase the visibility of your eCommerce brand then focusing on eCommerce SEO is critical. Proper SEO can provide you not only with the higher ranking but also a strong brand recognition.

Your brand needs to stand out as it’s important that shoppers recognize your brand and choose your eCommerce mobile app for their next shopping destination.

Adding some extra functionalities to your eCommerce app can help your brand being recognized and your app gain more popularity.