3 Primary Ways of Leveraging Data for Online Sales
retailciooutlook

3 Primary Ways of Leveraging Data for Online Sales

By Retail CIO Outlook | Tuesday, July 09, 2019

Online Sales

Brands that intend to maximize sales must tap into data from retailers that sell their products online.

FREMONT, CA: Online sales and data complement each other in several ways. The primary benefit of e-commerce brands have over their offline brick-and-mortar counterparts is the availability of data insights. Most of the brands are just sailing at the surface as they are exclusively focusing on their data.

Brands that wish to maximize sales must tap into data from retailers that are selling their products. Manufacturers that are not focusing on data from retailers are missing an opportunity to leverage the full potential of e-commerce. Currently, brands can utilize data from online retailers to enhance their customer's shopping experience, monitor branding, and customize their campaigns based on the intelligence gained from data.

Here are the crucial tips for using e-commerce data to optimize sales:

• Flexibility while Purchasing

Some customers prefer buying from their favorite online retailer. The brand loyalty must not clash with perks like free two-day shipment, numerous verified reviews, reward programs, and the facility of buying online and picking up in store (BOPIS). It’s better to accept the diversity of the e-commerce system and allow the customers to choose their favorite retailer.

• Tracking Retailers’ Websites

Without accessing data from the retailers, manufacturers will remain confined to the activities on their website. It will be impossible to understand the impact of marketing campaigns even if the customers might be buying from retailers. Thus it is imperative to switch to solutions that can pull data from retailer’s websites. The invaluable insights thus gained will help the manufacturer to focus on the campaigns accounting for the most significant return on investment.

• Product Transparency across Storefronts

If a customer is interested in a product, but he wished to buy it from a specific retailer, then it is essential that the data related to the product must be authentic and same as on the brand's website. A slight discrepancy may seem small, but it is enough to lead the customer to another site or maybe to a competitor's product. Hence, product transparency across storefronts is a sensitive issue that must be given its due importance.

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