There are many things that differentiate businesses that succeed online from those that do not, one of the more crucial ones being the clever use of eCommerce integrations.
To build a prosperous business, you have to look beyond basic integrations such as payment and shipping methods, and consider implementing more sophisticated solutions. Let’s take a look at five types of eCommerce integrations that can further improve customer experience, increase revenue and boost the overall effectiveness of your business.
Product recommendation engine
A product recommendation engine for eCommerce should be the bread and butter of any business that wants to succeed. It provides significant improvements in the two main areas: revenue and customer experience.
Increase in revenue
Many businesses have explored various techniques and algorithms throughout the years in order to create effective recommendation engines that would entice customers to complete more purchases. One of the most successful and well-known ones is, without a doubt, Amazon, who, at one point, reported that approximately 35% of all of their purchases were made through their recommendation engine.
Technological developments only further improve the effectiveness of recommendation systems. The use of AI and machine learning allows businesses to accurately predict what would interest their visitors based on their previous experience, giving more value to businesses and increasing their profits. Indeed, Netflix, for example, used its proficiency in data science to create a personalized recommendation engine which is now estimated to be worth $1 billion annually.
Personalization, better experience and customer retention
A product recommendation system uses the history of previous customer sessions to tailor the experience for each individual user. By guiding visitors to pages or products that they are looking for, the system helps you build a personalized and memorable experience on your platform. This, in turn, can help you attract and retain more customers, improving your online presence in the process. A product recommendation system was one of the crucial tools that helped CDON become one of the largest online marketplaces in the Nordic region.
Enhanced eCommerce analytics
Having an online platform means that you constantly have access to data, from product information to numbers from ad and marketing campaigns. By integrating enhanced eCommerce analytics, you can make sure that this data is used effectively and brings value to your business.
Analyze customer behavior
Knowing how your customers behave allows you to adjust various aspects of your online platform and ensure that they get all they want from using it. This, in turn, can have a positive impact on your revenue. In fact, a report by McKinsey found that companies that analyze customer behavior can earn as much as twice what their competitors who do not use analytics tools earn.
Marketing is an integral part of any online business. With the help of enhanced eCommerce analytics, you can use the data from your campaigns to adjust your strategies and make them more effective at increasing your sales. For example, Desenio, a designer poster and frame company from Sweden, knew how important marketing was to their business and integrated a tool that allows them to improve their current campaigns, as well as make well-calculated plans for the future. This helped them become one of Sweden’s most profitable eCommerce businesses of 2019.
Enhanced price management
Access to analytical data lets you quickly react to market changes and adjust your prices accordingly. Knowing when to raise or lower the price of a particular item can help you increase your profit margins up to 7% within just 12 months, and obtain Return on Investment (ROI) of approximately 200-350%, according to Deloitte.
eCommerce advanced search
The search feature on your online platform is one of the key tools that your potential customers will use to find what they are looking for. Here are a few interesting facts about website search:
- Users that use the search tool are twice as likely to complete their purchase
- They account for approximately 14% of all website revenue
- They are twice as likely to return to your store for another purchase
- Research showed that the conversion rate can be almost doubled from users that perform website search
Without a doubt, the search tool is something that should not be ignored on your website. By further improving its capabilities, such as adding an intelligent auto-suggest, autofill or advanced filter search you can both provide a better experience for your customers and significantly boost your revenue.
Product review system
In the current online environment, a product review system is one of the most important eCommerce integrations for any retail platform. According to research, just having such a system in place increases the chances that a visitor completes their purchase by 63%. Moreover, there are several other ways it can help your business.
Increase completed purchases and boost revenue
As mentioned above, just having a product review system can significantly improve the odds of a visitor turning into a customer. However, having positive reviews on your website can have an even greater effect on the number of completed purchases. Research found that 68% of all visitors will go through at least 1-6 reviews before they even consider buying a product or a service. At the same time, positive reviews from customers can increase revenue by as much as 74%.
Build trust in your brand
Some retailers may have concerns over product review systems because of the fear of negative reviews. It is true that these are unavoidable, however, they can also play a role in the success of your business. It was found that 68% of all online customers actually want to see both good and bad reviews on a website to believe that they are actually true. Moreover, you can use negative feedback to show visitors that you actually listen to their concerns and work on solving them. All of this helps you build your reputation as a reliable brand and make your business better at the same time.
Improve your Google ranking
Another benefit of a product review system that may not be very obvious is its effect on SEO. Product reviews left by your customers are considered to be user-generated content – the type of content that can significantly improve your ranking in Google. A Moz study a few years ago found that customer reviews influence local ranking by 21% more than other factors. The more reviews you have – the better it is for your SEO.
Google Trends data integration
Google Trends data integration can provide you with insight on the latest trends in online search. With this knowledge, you can quickly react to changes in the market and offer your clients what they need just when they need it.
In addition, the data it provides can be used to analyze businesses, both yours and your competitors’. It can provide you with detailed “interest over time” reports that will help you learn where you stand as compared to others. You can also analyze various strategies that you have implemented over time, and see how effective they were.
Finally, this tool is great at helping you find the best keywords that will improve your SEO-ranking and make it easier for more potential customers to find your store.
eCommerce integrations provide endless possibilities
The amount of value that any of the mentioned eCommerce integrations (or all of them) can bring to your business is quite significant. Implementing them will without a doubt help you in building a prosperous eCommerce business. And, if you require any technical assistance – our experts at Forbytes are always happy to help!