Data, data, data. We all know it is important but how do we use data to generate more revenue and make our customers happy. In this blog we discuss the why, what and how of using data to improve your B2B webstore.
- Why do I need to use e-commerce data?
- What data do I need to track?
- How can we do this and which tools can we use?
Why do I need to use e-commerce data?
How is your customer using your webstore to buy or find the products they are looking for? What can be improved and in what way you can help the customer to make their work and ordering process more easy? Instead of making these choices based on subjective criteria you can track the data to see what is most important for your customer.
Better and more personal customer service
One of the characteristics of B2B e-commerce is repeat ordering. By knowing your customer and the way he or she places orders you are able to improve customer service and make this service more personal.
Increase revenue by personalization
By knowing your customer you can create a more personal and specific experience. For example create email campaigns based on the interest of your customers or use specific up and cross-sell on the webstore based on what your customer bought earlier.
Get more new customers
Data will help in the process of getting more new customers. If you know which sales channels are leading to new customers and what your target group is looking for you can use this data to attract new customers.
What e-commerce data do I need to track?
Clearly there are a lot of benefits in using e-commerce data to improve your business. But which data will you use and track? Starting point of this is too look at your goals of your B2B webstore. A couple of goals we usually see with wholesales and manufacturers that are starting a b2b webstore are:
- Attract new customers to the B2B webstore
- Improve the ordering proces for the customers
- Increase the amount of sales
- Decrease the amount of manual activities in the ordering proces on the sales department.
With these goals it is important to select the right KPI (key performance indicator) to track the sucess of the goals. Below are a couple of e-commerce KPI’s that can help you track how you are doing:
- Amount of new visitors per channel.
- Amount of new account request
- e-commerce Revenue
- Average order value
- Amount of active versus inactive customers on your webstore
- Best sold products
- Best viewed products and categories
How do I measure e-commerce data and what tools can I use?
There are a lot of tools you can use to track data. Below we are introducing you to 3 tools that you can use directly to measure and improve your business.
Google analytics is a free tool of google which will track all kinds of user statistics abour your b2b webstore. Google analytics is offering an enhanced e-commerce functionality which will give you insight in a lot of e-commerce data like conversion percentages, best sold products and an overview of the checkout funnel.
Hotjar is a tool to get a better insight in how users browse through your webstore. It will display heatmaps to see where people are clicking and where they are looking at. It also offers a possibility to ask questions to clients and to get more kwalitative data.
Google Data studio
Google Data studio is a free tool from google which allows you to visualize different data sources in a dashboard. In this way you can create your own dashboards with your own KPI’s.