How Big Data helps your Ecommerce business growTuesday, October 27, 2020
It is estimated that there are more than 20 million eCommerce websites. To stay ahead of this fierce competition, you have to be at the top of your game and you can’t get the best eCommerce marketing strategy unless you do a thorough analysis of big data. Big data has the potential of taking an eCommerce business to the next level. In this article, we will talk more about how to make use of web data.
Table of Contents
Using Internal Data would help you Optimize your eCommerce Strategies
Customer Experience Optimization
The usability of your eCommerce business website defines your customer experience. Your customers must have a satisfactory experience when using your website.
By checking your internal data, you would be able to understand customers’ behaviors on your website. Some businesses replay visitors’ movement on their website to see the reason for their exit. However, with thousands of people visiting your website, it becomes impossible for you to check every single visitor.
Nonetheless, you can easily get an overview of your customers’ experience by measuring the critical web page data such as bounce rate.
Supply Chain Management Optimization
Supply chain management is another important aspect of an eCommerce marketing strategy. Customers want to get products easily in a short time. Hence, an eCommerce business that proves highly functional in this regard would be considered indispensable. Big data can help you you pinpoint the points where you can optimize your supply chain management.
Using External Data to make better business decisions
Competitor analysis is a fundamental part of an effective eCommerce marketing strategy. In every market, there are usually a few businesses taking over the majority of the market. For example, this goes for the eCommerce market where we have businesses like Amazon and eBay doing better than others. However, with access to business data of your competitors, you may be able to turn the table.
So, how to get this data, and more importantly, how to use it in your own interests? Octoparse is a handy tool for getting data from web pages and with such a tool, you can collect data from big eCommerce websites like Amazon, eBay, Walmart, and so on. Besides, a set of ready-to-use templates in Octoparse makes it easy to scrape data. All it takes is a few clicks.
With data collected from different websites, you can have a panoramic view of the approach your competitors take to product strategy optimization. After a thorough analysis, you would know your competitors’ target audience for different products. What's more, you would see how these products are marketed to their target audience. Once all these become clear to you, you can then implement the necessary customer experience optimization and product strategy optimization techniques into your own eCommerce business.
As an eCommerce business, you must be able to cater to customers' needs. No matter how good your eCommerce marketing strategy is, at the end of the day, you have to sell what people want. Hence, you have to take your time when selecting the best products to sell on your website. To avoid doing guesswork, you should scrape customers’ reviews from other websites.
This would undoubtedly provide valuable insights into the right products to sell your website. In my regards, this is the first step to a standard product strategy optimization plan. Thankfully, Octoparse can help with this too.
With few and very simple steps, you can create multiple crawlers that would extract product reviews from different websites within a short time. This way, you don't have to go through the stress of checking customers' reviews of different products one after the other, you can gather all the data with a few clicks.
The reviews would be so many and reading them one by one would be a stressful task. Therefore, you need an easier way to analyze the reviews. The easiest way to do this is to use a word cloud generator like WordClouds. It is a free tool that can analyze the frequency of words in a file and then present high-frequency words in a colorful picture.
There is an endless ocean of data out there that has the power to grow your eCommerce business tremendously. With the right product strategy optimization, you too can grow your eCommerce business to that height you desire. All it takes is a customer experience optimization plan as well as the implementation of the best eCommerce marketing strategy.
Author: David Edited by: Cici