Why Ecommerce Numbers Only Tell Part of the Story
Posted in: UncategorizedYou know the old saying, about how numbers don’t lie? Here’s the thing about ecommerce today: The numbers don’t always tell the full story, either.
Most ecommerce firms today operate under the assumption that their own transactional data is adequate for merchandising their products and creating compelling offers. This is a far too limiting view in that it ignores the reality that consumers are spending only a fraction of their time with the brand itself. In fact, there are vast amounts of data available about — and, increasingly, from — consumers that contain the treasure we’re all searching for: in-market intent and buying signal data.
Consumers are in perpetual motion, and smart ecommerce players recognize a simple fact: Even customers who buy something from them, no matter how loyal, are not necessarily as engaged with a brand as you might think. Not only are people busy with more channels of interaction than ever before, they are also distracted when it comes to making a buying decision. This constant motion, coupled with an abundance of information about products, features and prices, leads to the classic paradox of choice for consumers that causes them to stop short. It can actually make a consumer more indecisive.
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