There has been a multitude of articles praising the benefits of using data for businesses of all kinds. There have also been a high number of news stories about social media platforms accused of breaching privacy with data use, and news reports about how big data is affecting the world.
“Without big data, you are blind and deaf, and in the middle of a freeway.”
– Geoffrey Moore
It’s certainly a subject that isn’t going away, but how does the average Shopify Plus+ store use this potentially game-changing technology?
From back-end web design to customer interactions, you could be using your data to make improvements across the entirety of your e-commerce business.
To help answer any questions you may be asking, the Shopify experts at Blackbelt Commerce have compiled a guide on using data to grow your Shopify Plus+ store.
1 – Consumer Personalization
This is the big one.
If you don’t use data and analytics to personalize your communications with your customers, then you’re already falling behind. Consumers in the digital age want tailored content and conversation, and Shopify Plus+ stores need to be using their data to develop a better understanding of those consumers.
If you’re sending out the same emails to both loyal customers and new customers, then you’re making a fundamental mistake.
Blackbelt Commerce suggests that the more that you analyze your audience, the more insights you will discover.
Extra analysis will also help you to:
- Identify emerging trends
- Make product improvements to meet customer expectation
- Track and evaluate the reputation of your own e-commerce brand
Use your data to understand who your customers are and where they are along your e-commerce store conversion journey. As with everything in business, the more that you understand your customers, the easier it will be to sell to them.
2 – Price Adjustments
It’s not just about winning customers, it’s also about edging ahead of your competitors. The growth of Shopify’s e-commerce development has lead to a crowded marketplace, and you’re going to need to use data to keep one step ahead. Of course, Shopify developers are here to help you with this.
When it comes to pricing your products, you need to make a profit, be affordable, and competitively priced alongside your competition.
Your data is the key to a more dynamic pricing strategy. You should be using it to assess the prices of your competitors, evaluating the impact of your seasonal sales and special offers, as well as identifying and adapting to the actions of your customers.
3 – Online Security
Protecting your e-commerce store and your customers is of paramount importance.
While you may already have a robust cybersecurity setup, you will also need to maintain that high level of security in real-time. The Shopify experts at Blackbelt Commerce suggest that the data that you accumulate can help with this.
The more data that you have, the easier it becomes to identify and detect online fraud. It may need a realignment of your back-end infrastructure, but doing so will give you a real-time view of what’s happening across every level of your Shopify services.
That will, in turn, mean that your business is much safer, and will be better able to make a profit without the worry of external or internal instances of fraud.
4 – Predictions
As an e-commerce entrepreneur, you already have access to a huge variety of analytics. From Shopify’s own to the mighty Google, these analytics are the key to getting more from your future planning.
Predictive analytics can help you to spot and take advantage of trends and events that will affect consumer sales.
By using a combination of your analytics and other tools like machine learning, your Shopify e-commerce store will be able to make predictions about the future based on your own historical data as well as consumer history. This then allows you to take a lot more control over your e-commerce structure, and adapt to changes and trends before they happen.
Blackbelt Commerce has highlighted that the most common uses of predictive analytics include:
- Managing relationships with customers
- Identifying cross-selling opportunities
- Risk management
- Identifying fraud
5 – Delivery Transparency
Consumers want to know where their purchase is, how it’s getting to them, and when it will arrive. Everyone from pizza restaurants to Shopify experts is opting to use data to not only identify their in-stock products but also give their customers a glimpse into the delivery structure.
Real-time tracking is becoming the norm, but this can be challenging if you use third-party suppliers and delivery services. Your data can help streamline this process, by communicating the right information to you, your warehouse, and your product transporters.
You need to use supply chain analytics to get a clearer picture and actionable steps.
The key areas to examine in details are:
- Sourcing products
Being more aware of your supply chain can only improve the process, and can help to not only make predictions easier but improve the longevity of product cycles too.
“Data is the new oil.”
— Clive Humby
There is a lot to consider when it comes to collecting data and knowing how to utilize it. Of course, if you are ever unsure about how to grow or improve your Shopify store, the Shopify experts at Blackbelt Commerce suggest getting in contact with a Shopify developer.
A Shopify developer can but the above into motion, as well as monitor your Shopify store’s progress. Such advice is priceless.
** As always thank you for visiting our company we invite you to read our other great articles such as What are the Vital Elements of Good E-Commerce? or learn How To Choose A Shopify Developer. Learn more about what we can do for you.
What are the top Shopify stores doing?
Take what we've learned and use it to your advantage.
Get our exclusive research: Insights from over 500 Shopify Stores.