How to Impact the Path to Purchase with Predictive Analytics
As an online retailer, you often have to act as a palm reader to gain a better understanding of how you can improve the shopping experience on your site. What are customers going to want to be greeted with? What products would you recommend for them to purchase next time? Would they appreciate an upsell? All of these different factors can certainly improve the shopping experience, but they have to be delivered appropriately.
Paving the perfect path to purchase can be a daunting task, mainly because most of your shoppers are strangers. You don’t know them on a personal level, you just know that they are on your site, and they are obviously interested in something that you carry. If you had a better understanding of what they enjoy and where they come from, you could help tailor the customer experience and help them reach the checkout screen. Not all shoppers will make it to this final, ideal destination on your site, but there are definitely ways you can help increase the odds.
Like a Crystal Ball
It’s important to know your shoppers’ tendencies. Where did they come from? What did they want last time? For returning customers, you can absolutely leverage this information to improve the overall shopping experience on the path to purchase on your site. Predictive analytics improves with historical shopper data, but specific shopper data is not a necessity for predictive analytics.
Predictive analytics can go beyond returning customers, and improve the experience for all kinds of shoppers. The secret to success with predictive analytics lies in a small, but powerful word: tags. Managing tags on your site can show you how customers are beginning their experience on your site. Adwords and Google Analytics tags are just two examples of this.
Place Customers at the Correct Starting Point
You can provide different landing pages according to the keyword that was searched. Make sure the proper landing page is set up within the ad to present exactly what they’re looking for, simplifying the search process. Basically, you’re going to want to direct consumers to what they were searching for in the first place. Nothing is more frustrating than being directed to a landing page that doesn’t offer what you’re looking for. Make sure your site entices the shopper the same way the ad did.
Use Predictive Analytics to Provide Social Proof
Social media is one of the most beneficial ways to get your brand name out there, and it helps improve loyalty. You can plan your shopper’s path to purchase from your brand’s social media account. It’s also a great source of traffic to your store. You can tailor your experience according to your shopper’s social data. If they traveled to your site from a certain posting on your account, you can direct them to exactly what they’re looking for and predict what they’re going to purchase.
Predictive analytics can also simplify the entire path to purchase. Remembering historical orders to recommend products can improve your average order value and help you predict what your shoppers will be interested in purchasing in the future. It can also remember payment info, streamlining the entire checkout process. If you know that a customer visited from a social site, you know they would value social proof in reviews.
The path to purchase can be a bumpy one, full of possible twists and turns that can throw off many shoppers. However, by leveraging historical data and predictive analytics, you can smooth out the process. By getting a solid read of who your customers are and where they come from, you can drastically improve the shopping experience on your site. It’s like you’re running a psychic shop, and instead of using mere speculation you’re using concrete data to make informed decisions.
Contributing Writer: Brian Smyth
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