Data-driven Lessons for Fashion and Apparel Companies
It’s an exciting time to be an online fashion retailer. With more shoppers opting to purchase their purchase their clothing and accessories online, fashion and apparel companies are searching for new ways to improve the online shopping experience for their customers.
What you may not realize is that the key to driving more sales to your eCommerce business is hidden deep within your data. To unlock this valuable insight and drive more sales to your online store, here are a few essential data-driven lessons to help you succeed in a busy marketplace.
Pay Close Attention to Metrics That Matter
There are some common metrics that eCommerce businesses should track, but there are a few vital ones that apparel sites should pay extra attention to. By monitoring data like average order value, retention rate, repeat purchases, and customer lifetime value, your fashion brand can gain valuable insight that will help boost marketing and sales performance.
There are hundreds of data-driven metrics that eCommerce businesses can track, which can seem a bit overwhelming. To keep it simple, stick to a few essential key performance indicators (KPI) and avoid wasting your time with vanity metrics.
Segment Your Customers to Deliver Personalized Experiences
If you want to be competitive in a fashion eCommerce space, your brand needs to consistently deliver personalized experiences to your target market. This is where data-driven marketing comes into play. Whether you are targeting specific users with your Facebook ads or delivering personalized emails to your subscribers, your content needs to be timely and relevant.
Segmenting your customers based on behavior or demographics not only boosts conversion rates but gives you key insight into different types of customers. This data-driven insight will reveal which groups respond best to certain types of content, allowing you to provide better customer experiences.
Use Triggered Emails to Recapture Abandoned Sales
If you look at abandoned shopping cart rates by industry, you will see that the fashion sector still struggles with shopping cart abandonment.
By digging deeper into your data, you may find a ridiculously simple solution. Decreasing your abandoned shopping cart rate could be as easy as implementing a faster checkout process or offering free shipping.
There may be nothing wrong with your checkout process, yet online shoppers will still abandon their carts. Don’t let potential sales walk out the door! With a simple triggered email campaign, you can recapture these lost sales and boost your conversion rates.
With Springbot’s abandoned shopping cart email capability, we have helped fashion retailers like Tadashi Shoji recover enormous amounts of lost revenue. To learn how they increased their monthly abandoned cart emails grew revenue by 50 percent each quarter, read more in Tadashi Shoji’s customer success story.