– Data collection during sign up is crucial for unlocking massive value in ecommerce.
– Collecting more information from customers allows for better targeting and decision-making.
– Data-backed content and analysis leads to incremental improvement and smarter decision-making in ecommerce.The key action item is to prioritize data collection during sign up in order to unlock massive value and improve the entire customer journey.Everyone is looking for a shortcut to go viral and break through in ecommerce. It’s all about ROI. I’m with you, but those are the same people who aren’t building strategies around data collection, smart growth, and positioning. It’s not sexy; it requires work. However, data collection during sign up is the one way to unlock massive value. Here’s how it provides instant improvement. The bonus is that if you work with us at Formtoro, we do all of this for you.
1. Recover sunk costs
Collecting just an email or phone number doesn’t provide you with any information you can use across your entire customer audience or website. Fifty percent of people will never open an email from you. Leverage the fact that they signed up for the good of your entire website. Twenty-five percent of people will churn annually. Use the data they provided to make bigger, more trend-based decisions. Why not grab more insight from the same offer? This is an easy way to recover a sunk cost and print money long term while creating an asset.
2. Build a strategy
You can target everyone in the same way, or you can leverage data about people to better formulate a plan to target everyone more accurately. You’ve heard me talk about one-to-many – collecting data from a few people allows you to apply that insight to every visitor, not just those that subscribe. Improve your entire customer journey.
3. Create data-backed content
This is twofold: understanding what actually matters to people and identifying gaps that you need to close. We’re not looking for overnight success, but incremental improvement. This only comes from analyzing and understanding data. Again, we know most people need some help with understanding how to do this. That’s why we’re technology and consulting combined. It’s not only about data collection; we can have you up and running with that in a short time period. But it’s also about data action. And if all of that isn’t a quick enough return, we’ll let you set KPIs to help your media buyers make all their decisions in half the time. Set it, collect it, leverage it. Smarter decisions come from better data, and better data comes from professionals who understand the customer journey.
On the fence? Not sure how to start? DM me, and I’ll see how I can help. #ecommerce #strategy #datacollectionhttps://www.linkedin.com/in/jivanco