E-commerce has equipped customers to do quick product searches and comparisons, and has enabled them to explore and buy products outside of what’s locally available. The world is their marketplace.
Are your equipped to compete with the world?
In this era where entrepreneurs have access to tools and services that makes opening up online stores a breeze, it is not surprising that the market has become so volatile. There are new products, brands, promos, sales, and offers that can make even the most loyal customer think twice about buying from you again.
In this fact-paced industry, merely adapting to survive is not enough. In order to stay competitive, marketers need to be able to launch new campaigns on the fly, target segments, and promote product as quickly as they can.
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”
– Jeff Bezos, CEO of Amazon
According to studies, 73% of consumers prefer to do business with brands that use personal information to make their shopping experiences more relevant. (Source)
This market behaviour drives online retailers to offer rewards and loyalty programs, which has been proven to increase sales. At the same time, targeted emails offering discounts and recommendations to customers with abandoned carts and promos to old customers can bring back sales that would have otherwise been lost. High shipping and handling rates is one of the top reasons why shopping carts are abandoned, making it crucial for online retailers to compute basket profitability vs. costs.
What this means is that having an online store is not enough. Online retailers need to be pro-active in improving customer experience, and must constantly engage with their customers before, during, and after their shopping experience.
With CalcFusion, you can create flexible marketing tools that can be added into your existing e-commerce platform as integrated features. CalcFusion can be used for customer segmentation, up-selling and product recommendations, reward, loyalty, point systems, quantitative data analysis such as computation of customer acquisition cost and lifetime value, KPIs and scorecards, computing discounts, promo prices, and shipping price calculations.
Despite the abundance of advance e-commerce tools, IT implementation time and system limitations can still block marketers from executing their ideas.
With CalcFusion, you have more control over the implementation of their campaigns. Marketers directly create the campaign in an Excel spreadsheet that is transformed by CalcFusion as integrated features of e-commerce platforms.
CalcFusion also minimizes coding. Your IT team only needs to plug in our API in order to make CalcFusion and your existing e-commerce system to communicate. There is no need to hard-code the business rules and formulas, which is what normally takes time.
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