Webinar: Business Decisions that can Help Boost Ecommerce Sales
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With growing competition, increasing digital marketing spend and shrinking margins, merchants have to take the right decision all the time. As a store owner, not only do you have to look at multiple dimensions across campaigns, visitors, customers, products, payments and returns but also master the underlying technologies that run them. We recently organized a #Webinar titled "Business Decisions that can Help Boost E-commerce Sales" on 24th April. The key points covered in the Webinar were: 1. Decision touch points around what to sell, how to sell and whom to sell 2. What data you need to make informed decisions 3. How to get reliable and meaningful data 4. How to use that data to increase sales This is a Free Webinar and we encourage you to attend it. #Business #Ecommerce #Sales Integrate your line of business applications under one single platform: https://www.appseconnect.com/integrations/
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Webinar: Business Decisions that can Help Boost Ecommerce Sales
- 2. A Incubated Company AI-Driven Growth Recommendations for Ecommerce Merchants In collaboration with Presented by
- 3. THE SPEAKERS 4 Decades of Collective Experience in building Ecommerce applications at scale Ravi, an alumnus of IIT-Kharagpur, has spent over 22 years working in companies like Ford, Chrysler, Yahoo, Southwest and last in PayPal – first in building enterprise software, then on architecting and deploying big data solutions scaling to Petabytes of data. In PayPal, he built next- gen AI-enabled merchant insights platform. At Clove.AI, he manages the product roadmap as well as the engineering, ensuring that it is scalable, secure and relevant to customer needs. Ravi Madhira IIT Kharagpur, Texas A & M Founder Srikanth has over 20 years of experience working across financial services, retail and cybersecurity (last including where he helped banks track and shut down card fraudsters). He spent the last 6 years in PayPal, working across risk, fraud and product development, managing the development of products with transaction volumes running into tens of billions of dollars. At Clove.AI, he takes care of sales and operations, focusing on ensuring the product reaches as wide a market as would be right for it. Srikanth Parthasarathy MBA Marketing & Finance Co-Founder
- 4. BUSINESS DECISIONS THAT CAN HELP BOOST ECOMMERCE SALES
- 5. Awareness Consideration Purchase Retention Advocacy Browse Research Search Arrive Add to Cart Continue Shopping Checkout Pay Complete Payment Receive Order Returns Refunds Drop-Off Low over all conversions (1-4%) Shopping Cart Abandonment (40-50%) Payment Failures (5-10%) TOUCHPOINTS IN ECOMMERCE JOURNEY
- 6. Increase Sales Increase Profitability Optimize Ad Spend Effective Forecasting Site Performance Efficient Shipping & Fulfilment TYPICAL STORE DECISIONS
- 7. 7 DECISIONS THAT CAN HELP BOOST SALES
- 10. 7% Increase in Sales 11.4% Increase in Sales RIGHT MOBILE OPTIMIZATION
- 11. RIGHT CHECKOUT
- 12. RIGHT INSIGHTS
- 14. RIGHT DATA
- 15. An average mid-market Ecommerce merchant generates > 2 Mn / year data points from multiple data sources Dashboards from multiple sources Access to Data Science expertise Complexity in data aggregation & curation No actionable growth recommendations CHALLENGES TODAY
- 16. DATA - TO - DECISIONS
- 17. RECOMMENDATIONS - RIGHT ACTION AT THE RIGHT TIME
- 18. ECOMMERCE INTEGRATION with APPSeCONNECT Connect your E-commerce store with a host of other applications ( ERP, CRM, POS, Shipping solutions, etc. ) And many mor e…
- 19. ECommerce merchant selling exclusive women’s wear and maternity wear Business Challenge Poor Campaign Performance Low returning customers Understand drop-offs Solution Ad Spend Optimization Recommendations Customer segmentation & Retargeting Identify drop-off customers across purchase funnel Site Improvements # of SKUs : > 3500+ Average Traffic: > 25000 per month Platform: Magento Payment: PayPal and more Ad Spend: > $70,000 p.a. Target Region: US, UK, India, EU Results Revenue from Targeting Drop-off users +5% Increase in Returning Users +10% CASE STUDY
- 20. To learn more about Ecommerce Insights Solution, get in touch at: info@clove.ai For Ecommerce integration related requirements, get in touch at: sales@appseconnect.com Thank You
Editor's Notes
- Improve operational efficiencies Increase productivity Drive greater profitability Reduce costs and eliminate waste Harness forecasting capabilities for smarter purchasing Optimize eCommerce site search, experience, and conversion rates Streamline shipping and fulfilment
- Use data analysis Optimize your mobile site Spend on PPC and SEO Personalize the experience Make it easy to buy Build brand awareness
- Connect and Analyze your Ad data together Look at your competitors (using tools like SEMRush) and make sure you are in the right bucket Check your organic searches Create custom landing pages
- Segment users and offer differentiated messaging Focus on getting customers to return Provide special offers to those who are likely to churn out Provide benefits to frequent buyers
- Improve Accessibility Optimize page load speed ( <3 secs) Size content properly Space between links Avoid plugins Implement Accelerated Mobile Pages
- Simplify the checkout process Make it fast and easy Figure out if they are returning and their preferred payment options
- Bring all data to one place (Use a tool like Clove.AI) Understand what’s happening in your site, what your customers are doing and why they are dropping off Use heatmaps to know what customers are looking at Know your customer’s preferred shopping pattern (Device, Day, Time of day etc.)
- Promote your brand across channels Leverage social media channels to publicize your brand Search ads lift top-of-mind awareness
- Instrument your site to collect data Use Google Tag Manager and Enhanced Analytics at the very least Right UTM Use drop downs for valid locations
- 1. What are merchants doing today a. Hire a 3rd party to do this. They use simple tools to solve some of the problems b. They hire 2-3 people inhouse who use excel or some basic tools to navigate this maze.
- Determine metrics that are most important to your business decisions Establish ways to accurately track that information Integrate all your data into a centralized dashboard for increased visibility Run actionable reports based on your data analysis Implement operational and tactical changes based on your data reports
- Determine metrics that are most important to your business decisions Establish ways to accurately track that information Integrate all your data into a centralized dashboard for increased visibility Run actionable reports based on your data analysis Implement operational and tactical changes based on your data reports
- Many businesses are choosing third-party applications to manage processes like order fulfillment, warehouse management, accounting, shipping, customer management etc. along with their E-Commerce platform. To manage the business processes efficiently and make all those systems work as “one”, an integration platform is required. APPSeCONNECT Integration Platform transforms your business by seamlessly integrating your E-commerce store with a host of other applications like ERP, CRM, POS, etc.