What if there was a way for an e-commerce brand to predict a customer’s shopping preference and price range as soon as they log in to the website?
Not only that, but imagine how good it would be if, as an e-commerce brand, you already knew how a customer’s journey takes place on your portal, foreseen the challenges, and proactively found ways to resolve those issues.
This kind of solution can make enhancing customer loyalty, sales conversions, and customer satisfaction a breeze!
Mihup’s transformational speech analytics platform, known as Mihup Interaction Analytics, is already doing this for e-commerce brands. Here is what Mihup Interaction Analytics brings to your brand:
Helps you build a strong supply chain: People go online for — ease of shopping, better prices, and hassle-free doorstep delivery during pandemics. However, to fulfil their needs, an e-commerce brand needs to maintain a robust supply line. Speech analytics helps understand the consumer’s preferences and expectations, which in turn leads to the identification of products that are most likely to sell faster. Thus, you can stock products in adequate quantities through this power of sales forecasting enabled by speech analytics.
Personalized recommendations: Returning customers are the real gold mine as they don’t cost you as much as acquiring a new customer. That’s why you get a better value for sales to loyal customers. A prominent strategy to bring customers back to your site is to send personalized recommendations. Analytics helps you identify that customer A is interested in buying photography gear, so you send them personalized recommendations on special offers and new products in that category.
Even when the customer is on the website, you are able to show them other products similar to what they are looking for. If they do not like one product, there are several other options visible in the same window. Eventually, you might not only ensure that the customer buys something but even sell two-three products to someone who came looking for one.
Helps in creating more accurate customer profiles: It is crucial for e-commerce retailers to know customers, their demographics, culture, behavior, past purchase history, and other triggers. Speech analytics helps generate all these insights and allows you to create more impactful special offers, festive deals, and other things.
Helps in optimizing product pricing: Demand directly influences the price of a product, and this applies to eCommerce as well. Analytics helps you optimize your product pricing dynamically based on the insights on product sales, profit margins, and price points that customers are more comfortable paying.
Mihup Interaction Analytics helps you with all the above-mentioned enhancements and builds a smoother and highly personalized shopping experience for your customers. They log on to the website looking for a product and find it right there on the recommendations. This omnichannel solution can be deployed on-premises as well as in the cloud. It empowers you with accurate insights to proactively create strategies and outsmart your competition, thereby delivering a superior customer experience.
By analyzing 100% of customer interactions across voice, chat, email, and social media channels, Mihup Interaction Analytics delivers actionable insights and visualization of the analysis with simple dashboards and reports. The solution is a multilingual platform that is of incredible importance in a country as linguistically diverse as India. To say it succinctly, Mihup Interaction Analytics helps eCommerce brands understand the ‘True Voice of the Customer.’