Extracting insights from search data in your Magento or Shopify eCommerce store
Posted on December 22, 2016 by
We recently shared a detailed post on the need for Search in eCommerce where we refer to the Search function as speaking to a salesperson in a brick & mortar store. So let’s continue with the same analogy here.
As a retail store owner, your in-store salesperson (search), is interacting with visitors. He/She gets to know their interest in products, colors, fabrics, specifications, etc. Every minute detail of interest is explicitly shared by your visitors during the search process. This is further fine-tuned by the selection of filters to find that product that will convert them to a customer. This treasure trove of data (search queries & filters) should be used by your marketing and planning teams to improve the topline and bottom line of your business.
Retailers have access to search data and resulting visitor engagement details. The details of products clicked, the position of clicks, time spent, visitor segments, etc., are also available. Your team thus has data to understand what your customers seek.
For example, if the top search query in New York City, is “Kohler Faucets” and in San Diego is “Moen”. For the same data period across segments, it would be wise to promote products that match that query. Also, specific products within that query in your SEO and SEM campaigns can be geofenced to New York City and San Diego. This process of creating focussed marketing campaigns to target each customer segment is bound to deliver higher ROI. The only caveat is that you need “enough” data to make sense out of it.
Search data can also be used to decide what banners within the website, to guide visitors to a landing page with relevant results. Our advice on the Home Page banner strategy is to dedicate 2/5 banners to Search data (historical data). And 3/5 banners to external trend data. Hence if your top site-wide searches are “Faucets” and ” Moen”, create a landing page dedicated to these two keywords. This can include products that received the most engagement for those keyword searches. Offers or incentives based on the data can also be put up as banners. This can accelerate engagement, conversion and revenue generation.
Bottom Line Impact
Analyzing search queries gives you access to customer demand data. This can be used to better plan stock to ensure supply meets demand. For example, if your customers are seeking “Ruby rings” and only 5% of your stock in rings contain the Ruby stone and over 50% in Diamond rings, there is a good chance, you are going to be subject to low inventory turns. This is not good for your cash flow and will drive the “Discounting” act if you need to move the stock. Stocking products that are in demand could increase the probability that customers are less inclined to discounts as they need it NOW.
Tagalys maximizes conversion rate & gives merchants visual control of products displayed in Site Search & Category pages at their online store. To know more about our solutions and features, get in touch with us now.