The bedrock of any marketing campaign is first-party data; the information you have collected from and about your customers is invaluable in terms of understanding key metrics about the people who have purchased from, and/or are loyal to, your brand. Here is a quick glossary of the key categories of information you can get from third-party sources.
Predictive analytics is increasingly being used to fine-tune marketing strategies by forecasting which products are most likely to be purchased by which customers, while also influencing buying behavior. It’s the power behind the suggestions of other items you may like when browsing or shopping online. Here’s how it can benefit your ecommerce business.