How To Sell Online / Product News

Bigcommerce Insights: Accelerate Your Revenue by Turning Data into Action

/ 3 min read

SHARE

Most Popular Reads

An entirely new breed of online retailers and offline retailers like JC Penney, Target, Warby Parker and Rent the Runway have been able to build large online businesses by taking advantage of revenue opportunities uncovered in their data. For these larger businesses, it makes sense to build data warehouses and employ a team of data scientists to comb through their customer purchase data and product merchandising reports every week to find new promising revenue opportunities. But what about everyone else — those SMBs that do not have the team, resources or budget to have their own in-house data team?

This is why we partnered with Jirafe and are now offering Bigcommerce Insights, a paid service that helps turn your data into revenue. Why do we believe so strongly in the value of Insights? Because Insights analyzes all of a merchant’s data and tells you exactly how to target your customers based on their purchase behavior and how to manage your product catalog based on traffic, conversion and revenue data. In essence, Insights takes all of the guesswork out of running your online business.

Insights Turns Your Data Into Revenue

Insights provides detailed data into your customer base and their purchase behavior with your store. With these insights, you’ll be able to improve your personalization campaigns to increase customer loyalty and engagement — driven by the tracking data of how real customers use your site already.

Here’s a quick breakdown of the top Customer Insights available and how you can use them to increase revenue immediately.

Customer Insights

Increase Engagement with Your Most Loyal Customers

Customer Insights are designed to help you better target and segment your customer base in order to increase customer AOV and lifetime value. In the example below, your Best Customers Insight will show you which customers purchase most often and spend the most with your brand.

insights1

Actions to Take With This Insight

Targeted and personalized interactions with customers increase engagement with your brand, amping up said customer’s lifetime value and overall spend with your company. The best way to position these emails is to ensure that a customer feels special, unique and appreciated.

Here are a few actions to take that will make your customers feel good about buying from your brand:

  • Send them an email thanking them for being a great customer
  • Enroll these customers in a special loyalty program
  • Send them emails featuring new products similar to the ones they’ve already purchased
  • Offer early access to promotions and exclusive deals
  • Invite them to contribute user generated content that is featured in your social feeds or on your site

What About The Customers That Are Leaving Your Business?

Conversely, your Customers At Risk Insight shows you which customers used to spend a lot with your brand, but don’t anymore. You may want to try these tactics to capture their attention.

insights2

Actions to Take With This Insight

  • Send them win-back emails and offer a promotion such as a percentage off their next order or free shipping above a certain threshold
  • Enroll these customers into a loyalty program to encourage more frequent purchases
  • Introduce them to products similar or complementary to what they last purchased by looking at the Products Purchased Together Insight
  • Inform these customers about new products and give them a sense that they are getting a first look at what’s new

Additional Customer Insights

Below are some additional examples of Customer Insights that can help you sell more:

  • Viewed But Didn’t Purchase: This Insight tracks customers that are considering their next purchase
  • Low AOV: This Insight segments customers that most often buy on sale or discount
  • Best Full Price Customers: This Insight segments the customers that purchase most frequently at full price

Learn more about Customer Insights in this video.

Merchandising Insights

Your Merchandising Insights are designed to help you identify your best selling products. Once you have this information, you can work to include those best selling products on product pages for lower-performing ones. This will help to increase overall AOV for individual customers as they go through your conversion funnel.

Let Your Best Products Shine

In the example below, the Rockstar Products Insight shows you the most visited and best converting products.

insights3

Actions to Take With This Insight

  • Determine which best sellers to place on your homepage and special landing pages
  • Use these products to lead customer acquisition campaigns
  • Determine which items to feature as suggested products on product detail pages
  • Select best sellers to lead flash or seasonal sales to bring people to your site

Show Customers Which Products They Should Buy Together

The Products Purchased Together Insight tells you which products are often purchased in combination with one another.

insights4

Actions to Take With This Insight

  • Create product bundles to increase your customer AOV
  • Set up repeat customer nurture flows that emails customers complimentary products to those they’ve already purchased from your brand
  • Show related products together in site editorial or on product pages
  • Display related items during checkout

Additional Merchandising Insights

Below are some additional examples of Merchandising Insights offered:

  • Products to Improve: This Insight highlights the products which are receiving a lot of traffic, but not converting well
  • Non Sellers: This Insight allows you to view the products in your catalog that have never sold
  • Most Promising Products: This Insight identifies the products that are converting really well, but need more traffic to drive sales
  • Hot Products: these products have grown the most in revenue in the last week
  • Cold Products: these products had the largest revenue drop

Want to learn more about the Insights offering and how you can utilize it to drive data-driven decision making and scale your business operations? Sign up for our next tutorial on September, 2, 1-2 p.m. EDT.

Leave a Comment
  • Shawn Mitchell

    Great concept! Failed execution. The data is not reliable. I have been testing Bigcommerce analytics data since the beginning and have found numerous errors in reporting and nothing has changed with Insight. Specifically when it come to customer value & order history. I just ran an insight report that failed to recognize 2 of our largest customers. The customer data that did propagate had many errors. Data is no good if it is wrong. It’s certainly not worth paying for invalid data. I am a big fan of BC and have a great vision of what they will become. Accurate Business analytics is a fundamental necessity for all businesses yet is the most undeserved service for small to medium sized businesses using boilerplate eCommerce platforms. The 3rd party options currently available are just as poorly executed. I would love to see the day that BC can offer a true enterprise plan with a robust integrated ERP that offers complete CRM, Advanced Inventory, Order Management and data analytics. Until then, I am still on the hunt.

Less Development. More Marketing.

Let us future-proof your backend. You focus on building your brand.