How to Boost Sales with Buyer Data
In this episode, we review:
- Could separating buyers from browsers alter your marketplace view?
- How do well-defined audiences change your search and media strategy during peak seasons?
- What buyer data can you leverage to boost conversion rates and total sales?
Benchmarking Purchases vs. Conversions
When looking at conversions vs. purchases in the electronics and mobile category, we can see that Amazon dominates. Comparing Amazon to Argos, it is evident that Amazon has the biggest volume in terms of total purchases with 4.25 million in May. However, Argos has a significantly higher conversion rate in this category with 8.7%.
Amazon vs. Retailers
Electronics Category, in May 2018
Identify when your customers browse vs. when they buy
Over the peak period from October to December 2017, we look at when Zara customers browse and when they buy. The visitors and buyers peak at two key periods, Black Friday and Boxing Day. But, when we look at the proportion of visitors who were actually buyers, more interesting trends appear. We notice that Zara also has a high density of buyers around Halloween period and the last minute Christmas window.
Zara Buyers vs. Visitors
Weekly Number in Oct-Dec 2017
Size up your browsers before peak period
In this chart, we look at the proportion of Airbnb browsers vs. bookers, which has dropped slightly between July and September, although conversions have remained similar each month. Airbnb will, therefore, need to identify an effective strategy in order to target browsers and convert them into bookers in time for the next travel peak period.
Airbnb Browsers vs. Bookers
Unique Users and Conversion Rate by Month
Discover how to effectively pinpoint and engage your buyers
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