Our data science team is hard at work discovering new ways to use technology and data to bring deep, meaningful insights to our clients. In a previous blog, we talked about our omnichannel approach and how we’re exploring and thinking about the digital layer in new ways to enhance our clients’ understanding of the customer experience (CX).
In this second study, we wanted to learn more about the sources and destinations of customer traffic. We developed four named competitive benchmarks:
We wanted to learn more about what online customer behavior and these kinds of web traffic can tell you about your brand strategy and online presence as a whole. Using similar behavioral data that powers our SurveyMini® app, we took a look at the web traffic one of our retail clients generated throughout the course of a year. The chart below shows e-commerce visit share trends for our client and 4 competitors
Competitive insights from e-commerce traffic
After we dug into the data and highlighted where the traffic was going and coming from, we noticed one of our client’s main competitors was getting a huge share of the client’s outbound or non-purchaser traffic (see below).
We decided to compare search term patterns for both brands to see what trends we could pull out of the data. Layering in the search topic differences, we found those non-purchasers arriving at our client’s website were seeking out their large variety of fashionable products, having been unable to find value elsewhere.
Next, we estimated the conversion rates for all e-commerce retailers in the market place. This benchmark, in conjunction with results from a recent SurveyMini cross-channel survey, identified significant opportunities for the client to increase consumer engagement and conversion efficiency. As the client adapts its strategy, the benchmark will help drive continuous best-in-class execution.
Combining online + in-store
All of this data is not only helpful when considering competitors—it can also help you learn a lot about your own brand, too. In the spirit of omnichannel, we thought about the power this online traffic data might have when combined with in-store traffic data. What more can we learn about the strengths of each channel and how they can be used synergistically to make both experiences even better for customers? Here are just a few things to think about when comparing these datasets:
Making sure your online experience and in-store experience are consistent is the key to building a powerful and holistic brand strategy. Understanding how one traffic pattern relates to another can help you learn more about each experience—and where opportunities for improvements lie. Making each experience better can help you turn more browsers into buyers, no matter which channel your customers choose to use when interacting with your brand.
We’re hoping to explore more ways to use this new monitoring capability, and to find innovative ways to layer the data with the information we’re already providing to clients. Our data science team is on the front lines of the search—so more brands can know more and do better when it comes to serving customers and driving loyalty.
Curious what else combining insights across multiple touchpoints can do for your brand strategy? Check out our ebook on omnichannel experiences here.
Sr. VP, Mobile Technology
Consumer Insights Manager