Why Do SMBs Need to Invest in Marketing Analytics?

SMBs that invest in an analytics system reap a multitude of benefits. Small businesses trying to gain a foothold in the very competitive world of ecommerce need to make every dollar count and they can do so through a feature-rich marketing analytics platform.

The data analytics software for ecommerce from Verfacto works with Shopify, Magento, Woo Commerce, and other platforms. The analysis of data lets you understand many different aspects of your ecommerce website’s functioning and you can take appropriate corrective steps to achieve multiple objectives. These include selecting the best PPC ads for a given product or page, improving engagement, boosting sales by reducing the number of filled carts left behind, increasing footfalls, and much more.

Data analytics helps with customer acquisition and customer retention. You can lower the cost of acquiring new customers and experiment with methods to upsell and cross-sell high-ticket items.

With data in hand, you can devise and implement marketing strategies with greater assurance. Real-time analytics lets you make adjustments quickly to account for changes in the market, upcoming events, new releases, and any tell-tale signs of a change in a customer’s behavior.

Analytics lets you take in at a glance what’s obvious and also reveals interesting facets about a customer’s journey that are not so apparent. Onsite analytics that unearths distinctive patterns a customer’s behavior lets you anticipate their actions and generate a higher ROI. One of the big benefits of data analytics is that it lets you arrive at the best means to personalize a customer’s journey, especially for repeat customers. Such personalization and targeting are also beneficial for email marketing campaigns.

There are different stages in a customer’s journey from being a prospect to making a purchase; ecommerce analytics lets you nudge the customer forward unobtrusively toward a mutually beneficial transaction through discounts, behavior prediction, customer segmentation, etc.