What is Ecommerce Intelligence & How Does It Work?
What comes to mind when you hear the term ecommerce intelligence? Do you imagine tiny robots inside an ecommerce store analyzing every customer interaction, identifying behavior trends, and then using that data to take over the world? If you did, you’re not far off. There aren’t technically any robots involved and no one is taking over the world, but the rest of it is spot on.
Ecommerce Intelligence uses machine learning to absorb meaningful data from visitors to craft innovative and personalized customer experiences. It’s where data science, AI, marketing, and web design meet together to optimize on-site visitor experiences, improve product discovery, and increase revenue.
The Need For A Bespoke Customer Experience
Traditionally, online businesses were designed as a one-for-all space that catered to everyone the same way. While that may seem efficient, it lacks the customer experience that in-person interactions offer; offline, a salesperson in a physical store can engage a customer, understand their needs, and offer them tailored solutions.
These days, competing on price, selection, and promotions alone aren’t as effective as they once were because competitors can easily provide the same. The greatest opportunity to stay ahead of the competition now is through personalization. By leveraging data to create custom shopping experiences for each visitor and targeting them with offers that are not for the masses but rather the individual, brands can stand out from their competition.
There is no doubt that personalization is key to ecommerce success. Here are just a few stats in case you’re not convinced yet.
Intelligence > Data
Brands selling online need to know every corner of their store and digital presence. Vanity metrics such as likes, views, time on site, and bounce rate just aren’t enough to explain critical business outcomes that matter most like customer lifetime value or return on investment.
Successful online brands should be able to answer questions like: which advertising channel is generating the most sales? What elements of navigation are people using the most? What customers buy repeatedly? Where did they come from? Are social sites sending the right traffic? Compiling all of that data manually, analyzing it, and making use of it in a reasonable timeframe is a massive undertaking and one that ecommerce intelligence simplifies and automates.
An Integrated Solution For Ecommerce Intelligence
Adopting ecommerce intelligence can seem daunting because there is nearly an endless amount of software you can use together to understand and optimize the online customer experience. Among the many options, Adobe Experience Cloud stands out as an excellent solution for ecommerce intelligence with an integrated collection of online marketing and web analytics. Think of it as the common denominator of all your ecommerce marketing, and all of the parts work harmoniously together to provide an unparalleled experience for your customers online.
How does Adobe Experience Cloud play into ecommerce intelligence? One of the many features, Intelligent Commerce, delivers personalized content, offers, and pricing to segmented audiences and targeted customers. For instance, it can provide product recommendations with Adobe Sensei, AI that hosts a collection of algorithms that automatically analyzes shopper behavior and personalizes their experience.
Automated A/B Testing
Take personalization even further with the help of Adobe’s content management system through Adobe Target, where you can get AI-powered A/B testing, omnichannel personalization, and automation at scale. This works through machine learning, where the application learns every bit of the customer’s behavior across all touchpoints, tests what works, and serves them winning experiences that are personalized through multiple channels.
Remember some of those qualitative marketing questions online brands should ask? Adobe Experience Cloud’s Adobe Analytics, tracks and analyzes data from nearly anywhere across a vast amount of channels. You can make better decisions by seeing the attributions behind each successful conversion and Adobe’s AI & machine learning to provide predictive analytics to get the most out of the data and find insights that truly matter.
Adobe’s Customer Journey Analytics makes it easier to digest all of that information. It lets you connect and standardize data from every online/offline platform into a single interface for a holistic view of every customer action, allowing you to explore and visualize a customer’s journey, in sequence, so you can analyze across each channel and understand the context behind each action. You can also combine all of the individual and company data into a single uniform format and see behaviors in real-time with Adobe’s Real-time CDP. With real-time updates, you can react instantly to these customer events and deliver relevant experiences by seeing and managing people’s identity profiles at the individual or account level.
Imagine How Your Business Would Change With A Comprehensive Ecommerce Intelligence Machine
Adobe Experience Cloud can help an ecommerce business work smarter, not harder. If this rundown on ecommerce intelligence sparked your interest and you want to harness this technology to take your customer experience to the next level, reach out. Our team can help you enhance your customer experience with the Adobe suite of products and take your ecommerce store to the next level.