Improve sales conversion through customer experience analytics

Econsultancy reports that 91% of companies do not know why customers leave their digital platforms without converting. In particular, this is a huge issue for the retail sector, where 68% of consumers abandon shopping carts (Baymard Institute). These shoppers have spent hours browsing, selecting the products they want, adding it to their basket and are ready to buy - but they don’t. Why?

Research from Econsultancy also shows that 99% of customers don't buy on the first visit – why? And of the customers that don’t buy, a quarter won’t return – why? Were they nervous about using a new company? Were shipping costs too high? At the last minute did they have a question you couldn’t answer?

It’s easy to speculate, but wouldn’t it be useful if you knew the exact reasons customers leave you without converting, so you could do something about it?

Customer experience analytics provides the insight you need

Helping you to drive customer engagement, conversion and loyalty, customer experience analytics will shorten your sales cycles and enable you to understand your customers better. Providing deeper insight to each customer’s buying journey, it enables you to resolve issues quickly and effectively by:

Investigating analytics to identify sales issues.

Using benchmark metrics to review how your campaign compares with the competition.

Creating 're-targeting' campaigns to engage lost customers and improve conversion rates.

According to Econsultancy, a triggered email series can recapture 29% of abandoned shopping carts and turn them into sales. And research in a report by Marketing Donut shows that 80% of prospects say ‘no’ four times before they say ‘yes’, but 92% of sales people have given up when they reach this point.

Building visibility, familiarity and a positive reputation takes time and effort. And the amount of ‘touches’ it takes to make that sales conversion is based on numerous factors, such as price, product complexity, need vs. want, and what competition there is. If it were a case of ‘make contact ten times and your customer will buy’, marketing would be simple; the truth is, the sales process is exactly that – a process.

Never give up. Discover how IBM Marketing enables you to better understand the buyer journey and improve your sales conversion rate.