Why Segmentation Matters for Products and Orders, Too
The idea of custom segments of ecommerce customers to create meaningful campaigns and more personalized relationship management makes perfect sense and has quickly become common practice among seasoned ecommerce marketers.
Customer Segmentation allows you to create dynamic or static segments and save them for launching campaigns or scheduling automated reports but this is just the beginning.
Just like creating lists in your automated email platform, customer segments is helpful but also may put the ecommerce marketer into a state of segmentation tunnel vision. There are a couple other very important dimensions to ecommerce business segmentation – like Products and Orders that will enable better business performance and yes – better understanding of how to maximize your customer lifetime value and loyalty.
Why Product Segmentation Matters
Most ecommerce marketing is based on a fragmented and incomplete view of product performance. Understanding product trends, seasonality, price sensitivity, geographic and demographic profiles are all part of understanding customers from the product dimension.
Glew empowers B2C marketers with the ability to create custom product segments that reveal new product strategies across customer segments. Brand marketers can increase cross-sell opportunities by identifying and advertising top bundled products. Or effectively increase average order value by using the Top Bundled Products segment to find products that are most commonly purchased together.
Store owners and marketers use product segmentation to identify opportunities for reducing refunds, evaluate sell-thru rate, optimize inventory, increase Customer Lifetime Value (CLTV) and improve performance on lower performing products. Schedule automated reports and group by day of week, channel, source, campaign and device using these dynamically created segments.
Why Order Segmentation Matters
The idea of understanding Orders in the context of all business dimensions and being able to segment orders based on order status, location, device, or marketing channel is a game changer.
Custom segmentation is ideal for marketers to identify and get alerted on delayed shipments. Additionally marketers may create a segment that contains orders in a certain status or analyze mobile sales in a certain region or country and create an automated report based on these segments. Scheduled these reports to be sent to your team daily, weekly, or monthly.
Ecommerce store owners may now begin to assure the performance objectives across all the primary aspects of driving revenue, profitability and customer loyalty.