Increase E-Commerce Conversions Using Competitive Data & Analytics
There is a dynamic shift happening in the world of E-commerce marketing. E-commerce conversions through only social media or email strategy is loosing a grip to be the best driver of online purchases. However, there is consistent increase in marketing and brand investments. So the need of the day is to combine the social media and email strategies with competitive data & analytics to achieve overall success.
Needs of E-commerce industry:
Social media platform overall has a reduced conversion rate as compared to the earlier overwhelming and successful response. The strategy definitely needs a combination of business and market statistics such as online market analytics, competitor & business insights, social trends and real-time pricing updates to drive online businesses.
E-commerce industry should know exactly what their competitors are charging which definitely reflects over their own pricing strategy. Activities like tracking product & services reviews, online product performance, promotional insights, monitoring competitor moves and price-lists play a crucial role in driving sales in E-commerce industry.
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