Ecommerce has changed the way people shop, and this change has brought along different challenges for businesses. One of the biggest challenges is understanding what triggers a customer to make a purchase. Ecommerce attribution modeling has made it easier for businesses to understand the customer buying journey. However, focusing solely on clicks and conversion rates is not enough to capture the full picture of the customer journey. In this blog post, we'll delve deeper into understanding the full customer journey beyond clicks in ecommerce attribution.
Key Takeaways
- Businesses need a robust tracking system to monitor all customer interactions across channels
- Most only attribute sales to clicks, missing other influences on purchases like social media
- Multi-touch attribution models credit all touchpoints’ contributions instead of just the first
- Cohort analysis groups customers to analyze behavior over time, spotting loyalty and churn factors
- Personalization tailors experiences based on understanding journeys to improve engagement and sales
- To fully grasp customer behavior and grow, capturing the entire journey through these practices is necessary
Customer Journey Tracking
Before delving into the analysis of the customer journey, businesses need to establish a robust tracking system that enables the comprehensive monitoring of customer interactions. This tracking system is pivotal for tracing the customer's path from their initial engagement with the brand to the ultimate purchase.
Here are key components and considerations for effective customer journey tracking:
- Multi-Channel Touchpoints
- Online Interactions
- Offline Interactions
- Email Marketing Campaigns
- Social Media Engagement
- Website Analytics
- In-Store Visits
- Cross-Device Tracking
- Customer Feedback and Surveys
- Integration of Analytics Tools
Importance of Touchpoints Beyond Clicks
Most businesses attribute the customer journey to clicks, i.e., a customer clicks on an ad, lands on a website, and makes a purchase. However, this is an incomplete picture of the customer journey as there are other vital touchpoints that contribute to a customer's buying decision. For instance, a customer's social media engagement might influence their buying decision, even if they don't click on an ad. Brands should consider all touch points along the customer journey to gain valuable insights into customer behavior and bridge gaps that lead to lost sales opportunities.
Multi-touch Attribution
Multi-touch attribution models account for all touchpoints in the customer journey and credit them accordingly. Instead of focusing on one touchpoint, multi-touch attribution considers the interaction of customers with the brand at various stages of their purchase journey. Different attribution models offer different perspectives of the customer journey, for example, first click attribution, which credits the first touchpoint a customer had with the brand. The multi-touch attribution model helps businesses to see the bigger picture of their customer journeys and make data-driven decisions.
Cohort Analysis
To understand the behavior of customer segments over a given time, businesses can use cohort analysis. Cohort analysis involves grouping customers by common criteria, such as purchase history or customer lifetime value, and then analyzing their buying behavior over a specific period. This helps businesses understand how long customers stay loyal to their brand and identify when and why customers churn. Cohort analysis provides insights into the factors affecting customer retention and loyalty.
Personalization
Personalization is key to delivering great customer experience in ecommerce. Personalization is based on understanding the customer journey and tailoring marketing messaging and offers as per their preferences. Personalization improves customer engagement, increases conversions, and drives loyalty. By delivering personalized experiences, businesses can positively influence the customer journey, increase customer satisfaction, and drive revenue growth.
Conclusion
While understanding clicks and conversions are essential components of ecommerce attribution modeling, capturing the full customer journey is necessary to comprehend the customer behavior and drive growth. Businesses need to track all touchpoints along the customer journey, consider a multi-touch attribution model, use cohort analysis to gain insights into customer trends, and deliver personalized experiences based on customer preferences. By embracing these practices, businesses can succeed in the ecommerce marketplace by delivering a superior customer experience.
