Marketing Intelligence for E Commerce Industry
Today, the global e commerce industry has been evolving rapidly owing to the pervasive impact of the global online ecosystem and changing nature of buyers. The global e commerce industry comprises of buying and selling of goods and services between companies via an online platform. Increasing internet and smartphone users are expected to serve as a key driver for the e commerce industry. Also, the emergence of cloud computing has positively impacted market growth as it offers the required operational agility and scalability for B2B integration.
However, a few factors are expected to influence the growth of the e commerce industry in the coming years. These factors include:
The need to manage the customer relationship: Typically, most B2B relationships today are the responsibility of a sales team. Often, this involves coordination between inside sales and outside sales or independent representatives.
The need to custom-configure products: Although many B2B companies might not realize the importance of custom-configure products, a sophisticated e commerce technology exists that allows clients to not only configure but also view custom products in real-time.
The Business Challenge
The client, a global e commerce industry company, wanted to increase their market share by adding new customers to its portfolio. Additionally, they wanted to obtain a mix of existing and potential customers to identify and target the segments that would be the most profitable. However, they did not have a comprehensive list of the customers who they were not servicing.
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The market intelligence solution experts at Infiniti carried out extensive research comprising interviews and discussions with prominent stakeholders in the e commerce industry space to help the client increase their sales conversion ratio. The experts also compiled information from reliable sources such as trade shows, paid industry databases, and company presentations. With the help of Infiniti’s market intelligence engagement, the e commerce industry client was able to visualize the potential non-customers at a granular level to identify areas with higher potential for proper resource allocation. Additionally, the client identified customer segments that have the highest potential and targeted the potential non-customers with products already identified from the product mix clustering. This helped the client enhance their sales conversion ratio.
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