Unlocking the Power of Data for Ecommerce Success

– The author suggests that post-purchase surveys are not as effective as collecting data during the signup process to influence purchasing decisions.
– They claim to have been combining zero party data directly into Facebook reporting for years, allowing for more accurate and targeted marketing campaigns.
– The author introduces a new feature called Formtoro, which establishes a baseline for a quality audience and predicts their potential to be repeat purchasers before their first purchase, revolutionizing ecommerce marketing.Implement post-signup surveys to gather data and make informed marketing decisions based on the likelihood of conversion and potential for repeat purchases.With the rapid adoption of post-purchase surveys and the reliance on the data to make marketing spend decisions, I have to ask: What’s stopping you from doing this during a signup? We’ve been combining zero-party data combinations directly into Facebook reporting based on the likelihood of conversion for years now. Literally, years. You know that point right before people make a purchase so you can influence the purchase, not that point after the purchase where you can’t influence the purchase. That point where 10-15% of people will give you data, not a fraction of the 2% that convert. You know the data that gets fed back into your actual paid campaign reporting, not just fill in the blank to make a decision about your ad spend. You know the data that attaches answers to revenue, order volume, conversion rates, and then takes that data and identifies which ads are driving traffic most likely to convert, not only the first time but repeat purchase as well within a confidence interval. I know you feel good about the answers you’re getting in post-purchase surveys; it’s a great baby step into the world of data. It’s more like data collection adjacent. I’ve seen the reporting in tools that “collect data”; there’s no context to actioning anything, and you definitely shouldn’t be benchmarking. It’s not real reporting. It’s not really data-driven. Although you think you’re making decisions based on “data,” you’re really making decisions based on assumptions not tied to underlying contextually based information. A few posts ago, I told you I could make any store an extra 5% revenue per month – this came from mountains of data, and it didn’t even need Formtoro to do it. With Formtoro… Our latest feature and possibly one of our last, we’ve now been able to establish what a baseline for a quality audience looks like, the source they came from, and their estimated potential to be a repeat purchaser before their first purchase based entirely on data combinations. Welcome to the holy grail of e-commerce, predictive LTV tied to the first point of real intent with the ability to identify that audience across all channels, paid and organic. Our goal has been to rethink what’s possible with e-commerce based on consent-driven marketing as the fuel. I honestly think we’ve done it. There’s no reason to use ROAS in another marketing decision ever again; ROAS is a result of a quality audience with the right timing and should increase naturally if your customer journey is solid on your website and you have product market fit and are speaking to the right audience. #data #marketing #ecommercehttps://www.linkedin.com/in/jivanco

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