The e-commerce industry has been steadily rising in popularity in the past few years. This isn’t a surprise when there is practically an endless amount of traffic and engagements every day. Many individuals often use digital platforms for entertainment, look for solutions for their problems, and buy goods online. This is where e-commerce comes in: It gives users the opportunity to buy products and services without the hassle of having to your usual brick-and-mortar retail store.
But compared to most face-to-face interactions that traditional businesses have, it’s harder to gauge the position of many e-commerce businesses. Data and information are key resources that can help businesses calibrate their strategies and cater to their target market needs.
So what are some important strategies that can help businesses know more about their customer and their products? Here’s what you need to know:
Using a Methodical Approach in Gaining Information
First and most importantly, one of the best ways of knowing how your products and services are doing in the market is by gaining data and information. This can come in a variety of forms, such as directly asking customers what they think of the product, gauging insights from reviews, and observing social media posts from the community.
There are many marketers that would suggest using social media platforms as a means of knowing what customers are saying regarding products and services. Recent studies have shown that many individuals are quite vocal in social media, and they will use this to show outcomes from using products and services. A simple search for a specific keyword will give you results on what people are usually saying about your products.
Still, one of the most effective strategies in collecting data and information is being methodical, especially through the use of surveys. Although you can start posting surveys on status updates on sites like Facebook and Instagram, most experts would suggest setting up your off-site survey, which can be directly linked to a spreadsheet and a database. If you’re looking for a more comprehensive and intensive approach to collecting data from feedbacks, there are innovative voice-of-the-customer programs that can give you more comprehensive and scientific visibility on feedback from customers.
This data is instrumental if you want to outline strategies and develop more improved products. Remember: engaged customers that take surveys are usually those that have been around for quite some time.
Start and Create Social Media Groups
Social media marketing is known for being one of the best ways of gaining information. This isn’t a surprise when billions of users are accessing social media platforms every day. This makes it one of the best ways of monitoring what the public is saying about your product and services.
Once you’ve gained momentum for your brands and products, you can start creating “official” groups that people can join in. This is one of the easier ways of generating feedback for your products. On top of that, this goes to show that your business is hearing out the voice of customers and taking them into account.
Follow Up on Cart Abandonments
Last but not least, a crucial factor that you’ll need to be mindful of when you’re gaining information is focusing on how you can increase your conversion rates.
Many entrepreneurs are scratching their heads and wondering why some customers don’t check out their products on their carts. Although there are some individuals that are not quite sure whether they should check out, there are also some potential customers that have merely forgotten that they have an item in their car.
Whatever the case may be, the best way of knowing what their reason might be and reminding them about their transaction is by reminding them through an e-mail or a notification on why they weren’t able to proceed with their checkout. This is one of the best ways of engaging potential customers. Most would suggest having a list of choices on what could be the reason why they haven’t checked out yet.
There are various ways to get feedback and gain information from consumers on what they think of your product and services. In an ever-changing market, knowing your strengths and weaknesses as a business is paramount in making key decisions that could dictate future prospects. Although most entrepreneurs are focused on maximizing their sales and revenue, gathering data and information are still important parts of ensuring that business continuity is running smoothly. For your business to grow, you’ll need to learn how to adapt to the ever-changing market.