How You Can Use Big Data to Grow Your eCommerce Business

If, like many people, you decided to open your own business in recent months due to the global pandemic and related work changes, you may have gone down the eCommerce route. This has been a rapidly growing market for many years now and isn’t likely to slow down soon. However, one of the downsides of the demand for goods sold online is that there’s significant competition to face. 

To achieve your goals and ensure your online store not only survives the coming years but thrives, you should find ways for it to stand out from the crowd and for you to operate as strategically and profitably as possible. The big data technology solution provided by viralsoftwaresolutions.com can be your supporter in this way, not just for the general eCommerce setup and platform, but in other ways to grow your business rapidly.

One example is big data. Big data is the term used to describe the large amounts of data inundating and being used by individuals and organizations daily. The raft of information we have at our disposal now can be systematically tracked, analyzed, extracted, and otherwise used via computer programs to make better business moves. 

eCommerce stores are perfectly positioned to take advantage of big data developments and use them to grow and pivot as needed. Here are some ways you can use data to build your digital store in 2021.

Improve Customer Service

The products you sell are a vital component of building a thriving online business, but quality customer service is imperative too. People can’t see wares in person or meet shopkeepers directly, so they need to feel comfortable with the interactions they do have, whether via email, phone, live chat, or social media, etc. Big data can help you improve the level of customer service you offer in a few ways.

For example, the information you track and analyze about users will help you understand your clientele better, and therefore know how best to serve them. By learning about who your customers are, what they want, how they found your business, the types of products and experiences they’re after, etc., you’ll have a clearer picture of what to offer them and how to best interact with them at every touchpoint along the shopping process. 

Plus, you must provide clients with timely updates about when to expect their parcels to arrive. These days people want to know as much detail as possible and demand quick turnaround times. Use helpful RFID tracking tech tools to keep an eye on where deliveries are along the way, so you can better update your customers and reduce the likelihood of goods going astray. 

Also, use big data to track the types of questions consumers ask via different communication points. Once you have these details, you’ll know what information to put on your website, on product pages, FAQ sections, shipping and returns pages, etc. to explain products and processes. This way, customers will be more likely to get all the answers to their questions right away. In turn, they won’t have to spend time contacting support staff. 

Boost Personalization

In today’s market, consumers expect more personalization than ever before. Big data can help you to provide this. Analytics information about your clients and how they shop, including the touchpoints they use, their motivations and occasions for purchasing, and the pages they look at, can help you create more individual browsing and buying experiences. 

Analyze data to understand which content, products, services, offers, and shopping processes suit customer needs. Offer this, then enjoy increased conversions and retention as a result. For instance, with client data, you can see how to best reward shoppers for their loyalty because you have a good idea of the types of items they like and the price points they buy from, among other things. Also, use the data you collect to better target product suggestions on your website (e.g., the “If you like this product, you might also like…” function) and via your newsletter content. 

Minimize Shopping Cart Abandonment

Another handy way to utilize big data is to minimize shopping cart abandonment. While people putting things in their carts but never finalizing transactions is normal and a part of doing business online, it’s vital to look for ways to reduce these instances. 

Big data gives you an idea of why people might abandon their carts. By seeing at what point they leave the cart, and where they head next (such as to a Frequently Asked Questions or Shipping page, or simply clicking away from your site altogether), you’ll get clues. It can help determine if people don’t buy because of shipping or return fees or timeframes, hard-to-use checkouts, lack of trust, or something else. 

Big data is also helpful in the eCommerce world when it comes to improved marketing and shopper segmentation, more accurate forecasting, and better decision making. It pays to start using tech tools to understand all this information in your business ASAP.