The electronics retail market is gradually entering a “high season” at the end of the year because the shopping demand of consumers increased sharply, and retailers also launched many attractive promotions.
Electronic Retail is a particular industry and only generates orders when the customers have demands. How can an Enterprise “encourage” the right customer’s demand, at the right time, in the right place? PrimeData will help Enterprises solve this problem in detail.
First, let’s go through some challenges that Enterprises are currently facing in Electronic Retail. Each challenge is an equation that needs solving and PrimeData will accompany Enterprises in finding the answers.
A. High order value, low conversion rate
Unlike in F&B or FMCG industries, the value of electronics orders is generally higher so customers will have to consider a lot before making a purchase. Not only that, customers tend to ask for recommendations from friends, read product reviews… and are influenced by a large number of promotion campaigns.
How will CDXP help Enterprises “close the deal” with customers and increase the value of an order?
PrimeData’s CDXP customer data platform allows seamless and continuous integration of input data sources from all platforms such as Website, Social, CRM, ERP, etc. then synchronizes, filters and creates a 360-degree customer portrait from collected data.
From the customer portrait, businesses can easily access the viewing history, connected devices, behaviors, and preferences of a customer and track his journey ever since the customer reads a review on a satellite site, then recommends suitable products that meet the customer’s needs specifically.
Here are several use cases from PrimeData’s CDXP that will help Marketers increase order conversion rates in the electronics retail industry.
- Increase conversion rate by Product Recommendation Feature.
Customers tend to read Review articles about the products before making a purchase so Enterprises can create satellite sites containing product review content. CDXP can recommend products by industry group, triggered by a URL containing the product’s keyword.
a. Goal: Convert a customer’s action, from being interested in the product on a satellite site to looking up the product on the ecom site.
b. Example: Mr. Minh is looking for a Macbook M2, trigger at Site Blog/Satellite page of product introductions. Set the trigger at the URL satellite site containing “macbook”, the Product recommendation feature will suggest the most viewed Macbook products: Macbook most viewed / Macbook new… that further “entices” customers.
c. Setup CDXP:
Product Recommend: Sort and display products that contain “Macbook” or a group of products suitable for the needs of people who buy Macbook.
Event: view page contains Macbook -> Display Product recommendations in the positions below the blog post in a format suitable for the site.
2. Optimizing the customer experience at the Detailed Product Page
a. Gold: Increase conversion rate/on-site time on the Detailed Product Page
Generally, when customers (being anonymous) are interested, they will go to the Detailed Product page to read more about the product. Enterprises can follow up on what they are interested in and send promotions that match the current needs of the user
b. Example: In Mr. Minh’s case above, the Enterprise knew Mr. Minh was interested in the Macbook through the CDXP feature but he had not added any product to his cart. Then, with the feature of personalizing the experience, the Enterprise can drop a compelling discount code specifically for each customer to encourage them to take action.
Popup (promotion code/voucher) will be a “bait” to encourage Mr. Minh to buy products and also help businesses collect more emails and enrich data CDP.
c. Setup scenario
Create form: Contain Name + Email/ Mobile Phone
Embed the form and insert it into the popup
Event: Pageview URL Referrer URL contain Macbook → trigger delay after 30s and show the popup
3. Increase revenue by “taking care” of existing customers
CDXP will help businesses do this easily by personalizing the buying journey of each customer segment automatically with multi-channel marketing automation scenarios such as freeship/ gift/discount with minimum order value based on ARPU calculation of this customer group.
To take it further, there are also up-selling and cross-selling scenarios based on smart recommendations made by machine learning and artificial intelligence from CDXP for a specific customer or a specific customer segment.
4. Follow up and nurture those who haven’t bought the product yet
For customers who have not purchased products, segment them into a separate file and send follow-up content via Email/ Web-App to take care of them with a personalized, attractive promotion to draw customers back and prevent them from switching to competitors.
In addition, one of the outstanding advantages exclusive to CDXP PrimeData is that it can help enterprises draw an overall picture of the campaign, make decisions based on monitoring, and measure the effectiveness of multi-channel campaigns on the dashboard.
- An overview report of the entire journey of customers in different segments from Awareness -> Acquire -> Consider -> Purchase. (PrimeData CDXP has the ability to track the full customer journey, from content/ad clicks to channel visits -> view products -> purchase (online or offline, or via call center…). and allows toggling the dashboard interface to meet the marketing needs.
- For each promotional Code/offer program sent to customers -> Report exactly how many Codes/Vouchers are sent and to which customers, so that P & L can be calculated easily. The info can be categorized by product lines, channels, and other attributes of the product.
- A/B testing which campaign will be suitable for each customer group and product
Prime Data – The pioneering Customer Data & eXperience Platform (CDXP) and Digital Growth Consulting in Vietnam based on AI and automation, helping B2C businesses create excellent omni-channel customer experience (Online & Offline) in marketing-sales-service… to increase Customer Value, Revenue Growth and reduce advertising costs. With Prime Data’s CDXP, we helps brand owns key capabilities:
+ Unified customer profile & deep analytics
+ Omni-channel experience automation with personalization
+ Full customer journey analytics
Contact for consult and experience PrimeData CDP: email@example.com