Conversion of Abandoned Cart, Browse and Search Prospects using Next Generation Big Data Analytics
Our client is an American retail giant with a promising e-commerce business. However, stiff competition and the slow maturity of the e-com industry led to a steady sales decline. The client planned a three-year, $5 million turnaround strategy that relies heavily on e-commerce, mobile web technology and predictive marketing analytics to achieve the goal of becoming the ‘most engaged’ retailer in America. One of the ways to do this was to increase the rate of cart abandonment conversions. The business objective was to win back customers using advanced analytics that would approach them with a personalized timely email on a daily basis to help sort out the problems that might have led them to discontinue browsing activity or abandon their shopping carts.
Tackling Cart & Browse Abandonment
Datametica proposed a solution for the Cart Abandonment and Browse Abandonment use cases.
Defining processes and structures
Datametica proposed a solution for the Cart Abandonment and Browse Abandonment use cases. We worked out the following broad approach to tackle the challenges:
- Define process to identify customer and enrich customer mapping dataset
- Define a process and the business rules for generating a file (in the Big Data system) using the available Clickstream data, by identifying Cart Abandonment and Browse Abandonment use cases
- Define the structure (list of fields) of the target file to be delivered to the Marketing team
- Define any dependency, assumption and constraints available
Personalized timely email using advanced analytics on a daily basis
A three-time increase in conversion of cart abandonment cases
A five-time increase in conversion of browse abandonment cases
There is a proven month-on-month increase in revenue by million dollars
Tools / Technologies