Categories
Marketing

What is Predictive Trend Analytics and Why is it Helpful to Businesses?

Artificial Intelligence, Internet of Things and Machine Learning are the current face of technology. In fact, there are numerous AI-powered devices, robots and algorithms to make our work easier. AI has penetrated into almost all the domains – be it health sector, education or business. However, the question remains, ‘how do machines interact with each other or take decisions?’ Well, the answer to this is simple – they follow patterns based on their previous history i.e they start predicting the outcome vis-à-vis the situation. 

In this article, we will cover what predictive trend analytics is, how it impacts your marketing strategy and, in turn, your business. 

What is Predictive Trend Analytics: 

Predictive Trend Analytics in simple words is using historical data to predict and plan for the future outcome. In fact, predictive trend analytics is a subset of business intelligence. Essentially, machine learning and artificial intelligence-based tools help track a customer’s preferences or predict the demands of a certain product or service. This data is later used to advertise personalised customer content to increase conversion count. 

So, is the process of predictive trend analytics as simple as it sounds or is there more to it? Well, the answer is, yes there are a lot of complex processes that determine which prediction is the most accurate one. Let us move on to understand how predictive analytics works.

Working of Predictive Trend Analytics

To understand, let us take, for example, of Netflix. Netflix is the most used application for movies and series. However, have you ever wondered how Netflix knew what should you watch next after you’ve just finished watching a movie or series, then here is your answer! Netflix is a major data-driven company that analyses user behaviour to the maximum.

For instance, when did you watch the movie, did you complete it? If not, at what point did you leave it midway, did you return to it again, the ratings that are given, the scrolling and browsing behaviour and much more. Using several algorithms and data analysis, Netflix is able to predict the most suitable shows/movies you would prefer watching. 

 Internet of Things and Machine Learning are the current face of technology What is Predictive Trend Analytics and Why is it Helpful to Businesses?

Another common example that you may have come across is Amazon’s Suggestions when you purchase a product. Not only does Amazon suggest what you should purchase to complete the look but even goes further and tells you what other customers viewed based on your search query. Amazon is able to give such a prediction based on the historical data it stores. For this, it uses a NoSQL database.

 Internet of Things and Machine Learning are the current face of technology What is Predictive Trend Analytics and Why is it Helpful to Businesses?

Your Search

 Internet of Things and Machine Learning are the current face of technology What is Predictive Trend Analytics and Why is it Helpful to Businesses?

 Internet of Things and Machine Learning are the current face of technology What is Predictive Trend Analytics and Why is it Helpful to Businesses?

Amazon’s suggestions based on your search

Whether you’re a retailer or a manufacturer, irrespective of your business, you can implement this process. Say you’re an e-commerce retailer you can track your customer’s purchase patterns to predict if they are to come back again for a purchase or not. Or if they don’t complete the purchase, why did they abandon the cart and how many abandoned the same product. This analysis will help you predict not only the customer’s behaviour but also the product. On the other hand, if you’re a manufacturer of smart devices, you can track and monitor the usage of the device and collect the information. This information can then be used to analyse user behaviour which, in turn, can be used to market similar products or premium services to your customers. 

Depending on your business type viz. SMB or Enterprise, there are various marketing automation tools that you can enable to collect data from how and when the customer interacted with your website to predict their next move. HubSpot, Marketo, Act-On are some tools that you can use.

Advantages of Predictive Trend Analytics

Moving on, let us cover the 3 major advantages of enabling predictive trend analytics.

  1. Improves Performance Efficiency 

Predictive Trend Analytics enables you to tap into customer behaviour based on their usage of your product or purchase. This can help you to reduce abandon cart issues, as well as, help you gain a competitive advantage. Eventually, this helps in improving both the performance of the customer’s buyer journey and your business.

  2. Better Marketing Campaigns 

You might have run multiple marketing campaigns, some of them performing exceptionally well while there might be few that didn’t. Analysing your customer’s interaction on your website can help you predict how your customers will act. Moreover, it can also help upsell, cross-sell, and improve your revenue.

  3. Enhance Customer Experience 

A satisfied customer is most likely to return to your website as opposed to a customer who felt that the experience could have been better. Analysing customer behaviour helps you predict ‘if they will open your email’ or ‘which product they are likely to search’. This helps you to cater to them in a personalised manner, giving the feeling that the discount or products are custom-made especially for them (which is true). 

Conclusion

Predictive Trend Analytics is a fast and efficient way to gain insight into customers based on their shopping patterns and behaviour. Moreover, it helps you leverage and upscale your business website to suit the needs of your customers based on educative guesses. Have you implemented predictive analysis? If yes, how is your experience? Do let us know in the comments section below.

class = “fb-comments”
data-href = “https://blog.resellerclub.com/what-is-predictive-trend-analytics-and-why-is-it-helpful-to-businesses/”
data-numposts = “10”
data-colorscheme = “light”
data-order-by = “social”
data-mobile=true>

Categories
Marketing

How To Create and Promote Buyer’s Guides To Improve Ecommerce Lead Generation

How do you picture a buyer deciding to purchase something off your site?

Does it happen that one morning your target customer wakes up with a single-minded focus to purchase a big ticket item? He then proceeds to add the item to his cart as he casually browses different products over morning coffee. And pays? This scenario could totally play out. And you’d love for this to happen regularly. But, that’s rare. Most purchases are fuelled by either desire or need. This need or desire is followed up by action. Consumers shop by identifying a need first, learning about solutions and then making their purchase.

That’s where buyer’s guides come in. You can better appreciate the need for creating buyer’s guides once you’ve read the article. A SearchEngineLand study says that 74% of consumers online use Google to find reviews, and information on what they should buy. Google isn’t the only mode of discovery. People use social search and search on retail sites too. To sum up, a lot of research goes into understanding the different features of a product. That’s where buyer’s guides help. These guides combine the beauty of sales and marketing. With buyer’s guides you attract leads during the consideration stage itself. This gives you an opportunity to nurture these leads. Buyer’s guides are an ideal way to convince these leads for a purchase and turn them into customers. With these guides, you make it easy for customers to choose you over similar brands. 

The Process Of Creating Buyer’s Guides

  1. Create In-Depth Buyer’s Guides

You might have come across buyer’s guides on B2B sites at least once. That’s one reason they’re seen as a B2B strategy. That doesn’t present an accurate picture of reality. You can use them just as effectively on eCommerce sites. Let’s understand this with the help of an example.

For an eCommerce site, the digital marketing agency Goinflow were consulted for they created buyer’s guides. These guides were relevant to each of the category pages. These were created in a bid to improve sales and number of leads. As expected these guides improved the number of leads and sales for the eCommerce site. One of the guides alone led to over $100,000 worth in sales. 

So here’s a step-by-step guide to creating a buyer’s guide:

  1. Decide on the kind of guide you want to produce

There are different options. You can create a simple guide that compares different products. The guide can provide general information on product types. You can create a comparison guide,  content geared towards beginners, you can write about the different configuration options available, sizes and so on.

Here are a few examples:

How do you picture a buyer deciding to purchase something off your site How To Create and Promote Buyer’s Guides To Improve Ecommerce Lead Generation

BestBuy’s microwave buying guide is suitable for anyone who’s a complete novice at microwaves. The guide lists configuration options along with different types of microwaves that are available.

Image Source

Cymax in their guide explores different types of writing desks.

How do you picture a buyer deciding to purchase something off your site How To Create and Promote Buyer’s Guides To Improve Ecommerce Lead Generation

Image Source

As you can see there are multiple sections in the guides you saw above. Let these guides inspire you. The guide you create should be in-depth, discussing ideas at length. Don’t be afraid to link out to competitors. The goal with the guide is to make others value you for the authority figure you are. This will build trust around your brand. If the guide isn’t all encompassing your customer may not be inclined to purchase from you. The person reading the post sees you as less of an authority figure. The examples shared above from BestBuy and Cymax don’t list any products in particular. They provide enough information for consumers to make informed decisions. That’s not to say you can’t include actual products.

  1. Add products

We insist on adding products. Divide your buyer guides into multiple sections. Each section should talk about a unique product. In the sections, include an explanation of the most critical features of the product. Another way to write a good guide is by turning it into a comparison post. You could list out prices and include products that are under a particular price range. Say web hosting under $50 or under $200 and so on.

  • Web hosting under $10 per month
  • Web hosting between $10–$20 per month
  • Web hosting over $30 per month

With price ranges, the buyer is assured that nothing on the list is above his/her budget.

  1. List pros and cons

Follow that up by listing pros and cons. Without cons, readers will assume you’re biased. They won’t accept the guide as honest. The goal is to be seen as trustworthy. The cons don’t have to point out the worst of any product. You just need to talk about shortcomings. Explain how it falls short of expectations compared to other products. Listing the cons like this helps increase your authority. It removes some of your bias in the eyes of the consumers. As a result, you can establish trust with the reader. Finally, don’t make it a sales pitch.

  1. See if the guide is suitable for your industry

Buyer guides with lots of text or images aren’t suitable for every industry. For example, there’s not a lot of features you can talk about on clothes. Topshop’s solution is a style quiz that helps customers choose something fit for their personality and tastes.

How do you picture a buyer deciding to purchase something off your site How To Create and Promote Buyer’s Guides To Improve Ecommerce Lead Generation

Image Source

The quiz collects individual preferences and presents a catalogue full of items that cater to the individual. So that’s another option for you to try. In the same spirit you could offer videos as buyer guides. 50% of the population online watch a video every day. Finally end it with a call-to-action that shows the customer where he/she can buy the products from. 

Add calls to action inspired from the products you talk about in the guide. Don’t make it too pushy. As you saw above, there are plenty of ways you can approach writing a buyer’s guide. 

Promoting The Buyer’s Guide

   2. How To Promote Your Guide

After producing the guide, you need people to see it. Only then will you be able to derive any real benefits from it. Here’s how to do that.

  1. Link to the guides at the bottom of the category pages

We talked about how Goinflow created buyer guides for a site they consulted for. They internally linked the guide at places where people could see them most frequently. Example— bottom of relevant category pages.

For example, this is the bottom of the microwaves page on LG.

How do you picture a buyer deciding to purchase something off your site How To Create and Promote Buyer’s Guides To Improve Ecommerce Lead Generation

Image Source

They don’t have a buyer’s guide. Only links to pages that show you where to buy the product.

It’s an ideal place to link out to buyer’s guides. If you do link out to buyer’s guides, a visitor who didn’t find anything relevant and scrolled to the bottom of the page, finds a guide that’s useful for him/her. With such guides you can provide these readers valuable information. This helps them learn more about the product and convert.

  1. Add internal links in blog posts

When writing blog posts add internal links to the guide wherever they make sense.

The blog posts you write may provide a deeper look at topics briefly covered in the guide. Or mention the guide in the context of other relevant posts. Having similar related content pieces can improve your ranking and help you snag positions for multiple long tail keywords. Plus an in depth buyer’s guide is always a link magnet.

3. Use Guides As Lead Generation Gateways

Guides can be standalone pages. Or they can be gated and used for lead generation.

Here’s an example from one of the lead generation guides Goinflow created.

How do you picture a buyer deciding to purchase something off your site How To Create and Promote Buyer’s Guides To Improve Ecommerce Lead Generation

The lead generation form is simple asking only the name and email address. It’s written as a usual blog post. To read it, a visitor has to provide his name and email address.

As ecommerce marketers, snagging visitor email addresses can be a topline priority. Whether you need to use guides as lead magnets depends on a few factors. 

With an email address on file you have ample time and multiple opportunities to get prospects to make a purchase. When you publish a guide, it’s up to you to keep it free or keep it behind a gate. If there’s a longer research cycle involved with a product it makes sense to keep the guide behind gates, get email ids and run a custom lead-nurturing campaign geared toward these leads.

Promote your gated page on social media to drive relevant leads. Publishing the guide directly on your site is the perfect opportunity to get links for it and complement your link building efforts.

Bonus Tip: 

In addition to buyer’s guides, you can repurpose ebooks, podcast downloads and similar resources as a content upgrade. Here are ways in which you can provide additional content to your site visitors.

Infographics, downloadable infographics, gifts and memes, interactive quizzes, videos, podcast interviews, downloadable webinars, courses, and other assets are some examples of content types you may choose to give for free.

The key is in delivering value. What do you think of my short guide on buyer guides for your ECommerce business? Do let me know in the comments below.

class = “fb-comments”
data-href = “https://blog.resellerclub.com/how-to-create-and-promote-buyers-guides-to-improve-ecommerce-lead-generation/”
data-numposts = “10”
data-colorscheme = “light”
data-order-by = “social”
data-mobile=true>

Categories
Domains

New gTLD – November 2019

With Black Friday and Cyber Monday Sales, November was raining amazing offers. In fact, the sale was the reason for the incredible hike in registration count of the new gTLDs. .TOP witnessed a 518% surge in its registrations. Along with this, we had a record-breaking 55,000+ sales in our new gTLDs this month!

Let’s now peek into the new gTLDs that made it to the top 15 during the month of November.

New gTLD Report – November 2019
Infogram

*Registration Numbers Facilitated by ResellerClub

.TOP: The ever reigning .TOP continued to surge further in November with a spectacular 518% hike in its registration count. This hike contributed to .TOP grabbing a 56% share in the total new gTLD registration counts. Not so surprisingly the China market and a promo price of $0.99 helped boost the numbers.   

.SITE: Despite the numerous discounts, .SITE continued to secure the second spot in the month of November. This new gTLD was running at a discounted price of $4.99. The boost of 88% jump in registration count can be attributed to the China market. 

.XYZ: With an 8% share to the overall registration count .XYZ secured the third spot in the list. This new gTLD was being sold at the promo price of $0.99 and saw an impressive 229% spike in the number of registrations. Again, it is worth noting that the maximum contribution is from the China market where it has been gaining popularity.

.ONLINE:  .ONLINE managed to secure the fourth position. Moreover, it is the sole new gTLD in the top 5 list that dominated the Global markets* with a 4% share to the total registration count. This new gTLD was running at a promo price of $6.99. 

.FUN: Being sold at a special price of $0.99 during the month of November might have been a reason for the spike in the registrations of this new gTLD in the China market. This new gTLD now assumes the fifth spot with a 4% total registration count and an overall spike of 506% that helped secure the top spot.

The registrations of .ICU saw a jump of 294%, as well as, .SHOP saw a jump of 121%  in the total registration count. Along with this, .COMPANY is a new entrant to the top 15 list with a 123%  jump in its registrations which can be attributed to the India market.

Here’s a quick look into the exciting domain promos we’ve got lined up for the month of December:

  • Help your customer’s distribute knowledge with a .INFO domain at just $3.99
  • Enable your customers to solve queries with a .SOLUTIONS domain at just $6.99
  • Spice your customers’ business with .PARTY domain this Christmas at just $2.99

That’s all folks!

Check out all our leading domain promos and help your customer’s get the right one for their online business.

You can also head to our Facebook or Twitter pages to get all the updates about our trending domain promos. Just lookout for the posts with #domainpromos. See you there! 

*Global market – US, Australia, Canada, Sri Lanka, Thailand and others fall under the global markets. 

class = “fb-comments”
data-href = “https://blog.resellerclub.com/new-gtld-november-2019/”
data-numposts = “10”
data-colorscheme = “light”
data-order-by = “social”
data-mobile=true>