A decade ago the life of an e-commerce website manager was radically different. Your main responsibility was adding new products, and the only challenge you had was making your platform as popular as possible. Nowadays competition and technological advancement turned what seemed like a very straight-forward business into a complex science. Every single part of your website must be perfect in order to survive in an increasingly competitive market.
Customers have changed as well. If a decade ago they only had a few viable options for online shopping, today there are tens of millions of websites where they can shop. Customers are more informed, sophisticated and a lot less loyal. If something goes wrong in their journey they are one click away from other alternatives.
Enough pressure put, let’s see what you can do about it...
What is poor pipeline management in e-commerce?
You should look at your e-commerce pipeline as the steps that you and your customer take in order to finish a purchase. It is everything from advertisement and product description to special offers and inventory management. Then what is a poor version of a pipeline? One of the most common mistakes among e-commerce owners is that they view their websites as unitary experiences. In fact, every single customer has different needs and problems. The customer who leaves your page after viewing a specific product probably needs a better offer while customers with high bounce rates probably need better product listing.
There is a long customer journey that users have to pass in order to convert them into buyers. A solid pipeline will make sure they go through the whole funnel. Your revenues are directly linked to how well you can keep your customers on their pathway to the purchase. A known fact in sales is that prospects always need an extra push in order to make a purchase. Your worst enemy should be their second doubt. Users that abandon their products in shopping carts had almost everything they needed in order to make the purchase. Good owners will think of ways to approach the next customers while the best owners already have a solid pipeline that sends an extra email with the products of interest to these prospects. Which one are you?
What can you do about it?
You should picture your website as a complex organism. If some parts of the system fail, then the whole system(the funnel) fails. How does a doctor handle a patient? He first has to identify which part of the system is not working properly. Then? He prescribes treatments tailored for the disruptions he identified. Now, unfortunately, you cannot ask the NHS to fix your low conversion rates. What you can do in exchange is to find the e-commerce equivalent of a doctor to do that for you.
That’s where ClaroBI steps in. Just like a doctor, ClaroBI identifies which stages of your pipeline are not working properly. Using the Customer Segmentation by Behavior feature you can understand your customers in detail and create responses tailored to their needs. Once you know who your customers are, what do they like and where do they stop engaging with your website you will know how to create the best user experience.
Why choose ClaroBI?
1. Real-Time Reports on everything that interests you;
Because we understand that time really is money in e-commerce.
2. Insights and segmentation on your customer and their behavior;
Because understanding your customer is the key to success.
3. User friendly centralized platform where you can view all your data in graphs and statistics.
Because ClaroBI is your "Google Translate" for databases.
4. Automatic process of reporting and inventory management with predicitve features
Because we know how hard it is to manage thousands of products.
A good doctor will always tell you that prevention is more important than treatment. Use ClaroBI’s automatic trends detection or inventory estimation in order to stay ahead of potential dangers. Get yourself an appointment with ClaroBI here and drive up your conversion rates!