The customer journey in a 1-2-1 live shopping session is more than just a transaction—it’s a goldmine for advanced tracking and data-driven insights, shaping the future of your eCommerce strategy. As we look forward to a future dominated by Video Commerce, understanding insights form live video interaction will be invaluable for both video strategy, but also for a wider eCommerce feedback loop. Here’s how you can tap into these insights today to prepare for tomorrow.
Data-Driven Insights and Advanced Tracking in Video Commerce
According to a report by Forrester, companies that are insights-driven are predicted to take $1.8 trillion annually from competitors that aren’t. As eCommerce continues to grow, with projections hitting $6.5 trillion by 2024, the role of real-time, data-driven insights in shaping business strategies can’t be overstated.
Features of Advanced Tracking That Fuel eCommerce Insight: A Deep Dive
• First-Party & Cookie-less Tracking: Stay ahead of the curve, ensuring you continuously capture accurate customer interactions even as traditional tracking methods become obsolete.
• Sales Attribution in 1-2-1 Live Shopping: Identify and celebrate the true heroes of your sales—whether they are your brand ambassadors, specific teams, or standout products. Recognize what truly resonates in your live calls.
• Customized Checkout Data: Get deeper into your customer’s mind, tailoring the checkout process to uncover insights that can redefine your brand strategies.
• Video sales technique: what video sales behaviours are effective? Are your video sales operators giving the best experiences for your customers
• Diversion rate analytics: What product pages are the source of your video calls and how can you use that for eCommerce strategy?
Why Advanced Tracking is Crucial for Long-Term Success
• Personalization: Understanding customer behaviour allows for hyper-personalized marketing efforts, significantly improving conversion rates.
• Inventory Management: Sales attribution can guide stock levels, ensuring popular items are never out of supply.
• Customer Retention: Customized checkout data can be used to create post-purchase engagement strategies, nurturing a long-term relationship with the customer.
Industry Statistics: How Advanced Tracking Impacts Customer Engagement
Did you know that, with advanced tracking in 1-2-1 live shopping, according to a study by Accenture, 91% of consumers are more likely to shop with brands that provide relevant offers and recommendations? Advanced tracking in live shopping sessions ensures that you can be that brand.
Practical Use Cases: Where Advanced Tracking Shines
• Fashion Retail with 1-2-1 Live Shopping: Understand which items are most queried or purchased during live sessions to influence future design choices.
• Tech Sales: Keep track of common questions or issues raised during live shopping, influencing future product development or updates.
• Beauty Industry: Track which products are frequently bundled together to offer pre-made bundles in the future.
Preparing for the Future: Insights for 2024 and Beyond
• Predictive Analytics: Advanced algorithms will not only analyse past behaviour but predict future customer actions, fine-tuning your sales strategies.
• Voice Commerce: As voice search and shopping become more prevalent, tracking vocal queries and preferences will become crucial.
• Virtual Reality Analytics: As VR shopping becomes a reality, new types of tracking data will become available, from gaze tracking to virtual “dwell time.”
Conclusion: The Future is Insightful
To sum up, implementing advanced tracking in your 1-2-1 live shopping sessions is not an optional add-on; it’s a cornerstone for a future-proof and successful eCommerce strategy. Armed with these data-driven insights, your brand won’t just exist in the market; it will continually evolve to meet customer needs, today and in the years to come.
