For businesses to stay competitive in the rapidly evolving world, it is important to have an integrated ecommerce platform. Due to its booming popularity, the Global ecommerce analytics market is supposed to grow to USD 32,792 by 2026.
Integration of marketing, financial, and data research departments can achieve accurate customer personalization. However, integrating data from various sources can be challenging due to differences.
Many data integration tools are available to help businesses leverage the benefits of ecommerce data integration.
These tools enable businesses to gather data from diverse sources without the hassle of having a separate entity just for data collection.
So, you, as a business owner, also need to integrate your ecommerce analytical tool with your marketing platforms. It will help you avoid data duplication and wastage of resources, and much more.
So, let’s get down to some advantages.
- It helps in market predictions
Integrating a wide range of data sources lets your ecommerce business improve its predictive analytics capabilities. Furthermore, it will help you make more accurate predictions about consumer behavior and the market.
Your business can also combine important customer data from your marketing platforms, analyze the time intervals between page visits and purchases, and leverage other relevant data points.
With this integrated data, you can develop innovative strategies to reduce cart abandonment, speed up the buying process, and more effectively meet customer needs.
- It improves logistics and connects supply chains
When you integrate an ecommerce analytical tool with your marketing platforms, it is easier to forecast the demand for the product.
You can further manage your inventory because you get real-time data into sales data, marketing campaigns, and purchasing patterns.
Logistical teams handling orders and delivery can streamline order fulfillment, storage, and procurement strategies, lowering costs and increasing customer satisfaction.
- It identifies consumer trends
Most trend identification involves feeding customer behavior and social media engagement to an analytical tool.
However, it consumes a lot of time to do it manually. So, if you integrate the tool with the marketing platform, the process becomes automated. This leverages the ML algorithm on integrated data.
You can also employ social media data mining techniques to uncover products that generate significant buzz on various platforms.
Combining these insights lets you make informed decisions about the overall business direction.
- You can assess the success of campaigns
ecommerce analytic solutions are also popular for their neutral evaluation of marketing efforts.
It helps to understand how your campaign seems to the consumer when you enter metrics like click-through rate, the amount of time a user spends on the website before leaving, or cart abandonment.
You can use these data points to either change your ongoing campaign or learn from these failures and plan for the next one. A more advanced process called data commercialisation would help your business identify other areas to exhaust.
When integrating these tools, you can evaluate the campaign’s overall performance directly through the marketing platform without having to feed the data.
- Optimum use of selling
ML algorithms bring the potential for greater sales by tapping into upselling opportunities. When the ecommerce analytical tool analyzes data from various sources, businesses can assess a customer’s tendency to accept a promotion.
It can also determine what additional items they may be interested in alongside their current cart selections.
If you examine the browsing patterns of your consumer or suggest related items that can get “frequently purchased together” by other customers, you can even achieve cross-selling.
Other tools can also provide similar advantages. But a tool that integrates with your marketing platform can do this more easily.
- Data synchronization is easier
Most businesses use numerous apps to ensure that each touchpoint is consistently, accurately measured, and updated in a database.
For instance, inventory data, orders, and client information are automatically updated in real-time when an order is placed.
Thus, if you keep synchronized systems, it will improve data accuracy and lower inconsistencies. However, to execute this, you must find an analytical tool that will integrate with the rest of your systems to run the process smoothly.
Final Thoughts
Integrating ecommerce data on marketing platforms is necessary for businesses to gain a competitive edge and make wise decisions.
The abovementioned points are the major benefits of such integrations. So, what are you waiting for? Embrace the change and grow your business like never before!
