Maximizing Magento 2 Customer Segments for Personalized Shopping Experiences
Magento 2’s customer segments feature is a powerful tool for creating personalized shopping experiences. By leveraging customer data and behavior patterns, eCommerce businesses can tailor their offerings, promotions, and content to specific groups of shoppers. This post will help you maximize the potential of Magento 2 customer segments to boost engagement, increase conversions, and drive customer loyalty in your online store. What is customer segmentation? Customer segmentation is a strategic marketing approach that divides the customer base into distinct groups based on shared characteristics, behaviors, or preferences. This practice allows businesses to tailor their marketing efforts, products, and services to meet the specific needs of each segment. Magento 2 customer segments are a powerful feature that enables eCommerce businesses to implement this strategy seamlessly. These segments can then be used to personalize the shopping experience, offer targeted promotions, and drive more relevant marketing campaigns. By leveraging Magento 2 customer segments, businesses can enhance customer satisfaction and increase conversion rates. Advantages of Implementing Customer Segmentation Let’s see how we can benefit from implementing customer segmentation: Key features of Magento 2 customer segments These features combine to provide a powerful tool for understanding and engaging with your customer base more effectively, potentially leading to improved marketing ROI and increased sales. Common challenges when implementing customer segments By addressing challenges proactively, businesses can more effectively leverage Magento 2 customer segments to drive targeted marketing efforts and enhance overall customer engagement. Data Integrity and Accessibility Gathering comprehensive customer data from diverse sources (e.g., sales records, surveys, social media, web analytics) is crucial for understanding customer profiles and behaviors. However, businesses often face: These issues can compromise the reliability of segmentation outcomes. Defining Appropriate Segmentation Criteria Selecting the most relevant variables for Magento 2 customer segments is critical. Businesses must align their choice of criteria (such as demographics, psychographics, behavioral patterns, or customer value) with their strategic goals. The challenge lies in identifying which factors are most pertinent and predictive for your specific business context. Validating Segment Effectiveness After initial segmentation, it’s essential to evaluate the practical value of the identified segments. Key considerations include: Segments must also be validated against customer feedback, market research, and industry trends to ensure relevance and accuracy. Operationalizing Segmentation Insights Translating segmentation findings into actionable strategies presents its own set of challenges: Maximize Customer Segmentation For Magento 2 with Atom8 BigCommerce Automation by GritGlobal enhances Magento 2 customer segments capabilities, offering powerful features to optimize your eCommerce strategy. Here are the key advantages: Atom8 allows you to categorize users based on their status, such as members, visitors, regular customers, or wholesale buyers. This enables admins to identify customer types accurately, facilitating targeted offers and personalized experiences in your Magento 2 store. The software creates complex segmentation rules using various customer data points and utilizes powerful and adaptable rule conditions to specify precise customer attributes. You can easily include or exclude conditions for accurate rule creation, streamlining the customer grouping process. Businesses can apply special marketing campaigns to specific customer segments. For example, you could offer a discount exclusively to US-based customers by creating location-based segment rules. This enhances campaign management and execution effectiveness through precise targeting. Atom8 leverages automation to define and generate Magento 2 customer segments dynamically. Customer lists are automatically updated based on predefined rule conditions. The system incorporates demographic, psychographic, and activity-based data for comprehensive segmentation. The software creates and manages custom attribute properties in the backend with ease. You can customize attribute names, labels, and codes to suit your business needs. You can set attribute options such as required fields, column display, and use in customer segmentation. New attributes can be seamlessly displayed on the storefront using built-in property functions. Export any generated segmentation list to XML or CSV formats for further analysis or use in external systems. This facilitates data-driven decision-making by easily sharing segmentation data across your organization. The powerful Atom8 helps access a user-friendly table grid in the backend to manage and control all customer segment lists. Each segment maintains its unique rules and updates automatically, ensuring data accuracy. You can efficiently edit and refine segments as your business needs evolve. In Conclusion Effective Magento 2 customer segments are key to creating personalized shopping experiences and driving sales. By leveraging advanced tools and strategies, you can target customers more precisely, enhance marketing effectiveness, and boost customer loyalty. Implementing these segmentation techniques can significantly improve your eCommerce performance and give you a competitive edge. Ready to elevate your Magento 2 store with powerful customer segmentation? Contact us today to learn how we can help you implement these strategies and take your online business to new heights.
5 leading eCommerce recommendation engines to boost sales
eCommerce recommendation engines are product suggestions approaches that help the customers access various suitable items in your store. There are a lot of engines to suggest products, that may make you concerned which ones are the most effective approaches to your stores. Our article today will show you 5 leading eCommerce recommendation engines to boost your sales and customers satisfaction. 5 Awesome eCommerce recommendation engine Based On Products’ Rating Nowadays, customers rarely completely trust the advertisement from brands. They may have some suspicions and want to check the trustworthiness by products’ rating. Because of this tendency, product recommendations based on rating become one of the most effective and persuasive engines. The explicit feedback such as rating, reviews, comments of customers about your products and services play as personal recommendations. The systems can rely on the results of ratings to suggest the best products for the customers during their searching process on the homepage. Personalization The sellers can use tracking tools and selling reports to summarize and analyze various types of customer data. They are purchase history, order value, preference, behaviors,… to form customers’ favorite types of products and generate well-matched suggestions. The personalized product recommendation requires a large amount of customer data. It also needs complicated analytical processes with the utilization of algorithms, artificial intelligence and machine learning. Moreover, we can not have customer data of new visitors. So it may be impossible to generate personalized suggestions for those customers. We would like to inform you of a new and effective method to recommend suitable for returning and first-meet customers. It’s called a “fallback scenario”. This method will experiment with whether there is enough data to form personalized suggestions. If they do not have sufficient data, they will use metadata to generate recommendations for customers. Similar Items Another way to recommend products is based on similar items. Traditionally, your system can detect which products with same characteristics to group them and pop up suggestions based on the product category. However, there are some features that prevent the simple process from detecting similar items such as similar colors, patterns, shapes and so on. Here, we need advanced engines and two of them are filtering meta-database similarity and “item to item collaborative filtering”. Complementary Products The productive product recommendation types which are usually displayed on cart pages are complementary products. It is as known as “Frequently bought together”. This engine required a huge amount of selling data, product information and customers data to generate helpful suggestions without increasing cart abandonment. When taking advantage of this engine, you may need to make the layout design into consideration. To have an eye-catching layout, you can use A/B testing to try different styles. Recently View The final recommendation engine in this list is the simple one that suggests the recently viewed products. The only data source for this engine is the searching history which you can withdraw from your website easily. This engine plays a crucial role in retargeting campaigns. You may take advantage of it to send email reminders for customers. Who have been distracted when shopping or abandoned their shopping carts. Conclusion Each eCommerce recommendation engine has a different purpose and requires different sources of data. Therefore, to apply exact engines to your selling, you may need to understand clearly your selling status and goals and an awesome tool to help you. If you use BigCommerce platform, product recommendation app of GritGlobal can be a wonderful option for your to suggest products effortlessly.
Product recommendation engine definition and types
Product recommendation is a strategic approach for the sellers to boost sales and increase customers’ satisfaction. However, there are various options and methods that the sellers need to choose the best-fitted for their stores. Our article today will go through the product recommendation engine, including definition, operation rules and categories. A Quick Guide Of Product Recommendation Engine What Is Product Recommendation Engine Product recommendation engine is a tool that takes advantage of artificial intelligence (AI) and machine learning. It allows allow the business runners to come up with product suggestions and well-matched deals for each customer. The process of generating product recommendations requires accurate customer data. They are purchase history, time spent, order value and careful analysis to produce the exact offers. How Does Product Recommendation Engine Work Product recommendation engines are considered as a complicated process, which is based on analytic algorithms. It uses customer data for forming suggestions. Those are not only the on-site data but also the data from running paid-ads, forecasting demand and so on. Then, your system will deliver those offers to target customers. Product Recommendation Engine’s Classification Collaborative filtering The first product recommendation type that we want to tell you is collaborative filtering systems. This approach will summarize and analyze various customers to identify the general trends and offer specific recommendations to typical customers. For instance, when the system detects that there are customers searching for a pair of trainers and viewing certain items. It will examine other customers who have viewed the same products and recommend the purchased items of previous buyers for current customers. Content-based filtering Another product recommendation engine is content-based filtering systems. Which use the information from customers’ portfolio, preferences and purchasing behaviors to analyze and generate product suggestions. Based on customer information, the system will examine, summarize and create a specific profile for each customer. So that it enhances the accuracy of each product recommendation. You may come across this type of product recommendation frequently. It is shown as “Since you bought this, you may also like…” or “related items”. Hybrid recommendation The final product recommendation type is hybrid. It is the combination of two approaches above: collaborative filtering and content-based filtering systems. This hybrid product recommendation form can take advantage of both approaches above. So it can generate the most exact and helpful product recommendation. It bases on the groups of similar customers as well as unique preferences of each customer. The hybrid systems will analyze those methods separately and then combine and select some specific suggestions for customers. For example when a customer wants to buy a laptop for playing games. The system will summarize current customer’s preferences to generate the best well-matched suggestions. Conclusion You sell on the BigCommerce platform and find it difficult to apply the suitable product recommendation engine into your selling? Yyou may take advantage of Product Recommendation apps from GritGlobal. It helps to generate personalized, helpful, customized and accurate suggestions for your customers.
Top 10 B2B eCommerce trends and statistics from 2021
We are going to the end of 2021, which is considered an exploded year of eCommerce. We have witnessed some considerable changes in eCommerce trends, which may become fundamental for you to form your strategies for the upcoming years. Our article today will conclude some notable 2021 B2B ecommerce trends and statistics to draw a picture of 2021 ecommerce development. 10 Notable 2021 B2B eCommerce statistics Enhance Customer Experience 2021 eCommerce operation tends to focus on bringing a better experience for the customers. Most of the businesses started to invest more in sales and customer services to make the customers feel comfortable and convenient when shopping online. The “Customer Experience Management Market” has forecasted that the customer experience management market will increase to $14.9 million before 2025. Focus On Personalization The B2B eCommerce business has applied personalization into their approaches. Those are more specific, easy to meet customers’ demands and feasible to improve customers’ experiences. Personalization plays a strategic role in upselling and cross-selling as it helps sellers to recommend well-matched products to the buyers. Robust Growth Of Global Marketplace Last year, some global marketplace such as Amazon dominated the eCommerce market. Ans this year has witnessed the robust growth of the Enterprise Marketplace. Enterprise Marketplace is a new and more innovative form that offers more functionalities, approaches and methods to increase profits. Also, the business runners have saved a lot of money and effort to form and operate their selling as well. The future of Enterprise Marketplace is really promising, which is forecasted to expand globally in the next few years. Increase Of Omni Channel The sellers in 2021 choose to take advantage of a lot of selling channels via the combination of various channels. One of them is offline selling called Omni Channel. This model can help the customers to shop in your stores wherever they want. Those can be brick-and-mortar stores, online stores or on social platforms. Omnichannel allows business runners to manage and monitor their selling more efficiently in this changing world. Increase Of Self-Service It is not deniable that the customers in 2021 B2B eCommerce want to finish their buying process without any intervention from supporters and sales staff. They want to decide all the steps, including products they want to buy, payment methods, or shipping options. This approach can save time for sale assistance, also help your stores boost sales and customer satisfaction. Mobile Shopping Our smartphone is optimized, that the users can do everything with their phone, including online shopping. Normal adults usually use their smartphones 5 hours per day on average. Which means the business runners should optimize their website mobile interface. Thanks to its convenience, B2B mobile commerce is going to explode in the next year. Payment Diversification The pandemic has opened a more convenient payment world for B2B customers. They can choose various payment options to finish their orders including traditional bank transactions, online payment, e-wallets and so on. The incredible integration among channels helps the customers and sellers resolve all the issues related to payment barriers, transaction fees and also complicated processes. Technical Solutions Technology is still a supportive companion of 2021 B2B eCommerce. The business runners have taken advantage of some applications and extensions. Purposes are to bring more useful functions to their online stores and serve B2B customers. Those extensions include quick order, bulk order, automatic applications, product recommendation and so on. For example, B2B platform from GritGlobal provides more professional features for B2B customers. It gives them a better experience when shopping with an easy-to-use interface and simple manipulation. Increase Of B2B buyers The number of B2B buyers after the Covid-19 attack has increased dramatically. Therefore, the sellers have provided B2B eCommerce websites for their existing customers to serve them via B2B accounts with more professional functions such as bulk orders, quick orders, tier pricing and so on. Reference articles: magento pos, shopify pos, woocommerce pos, bigcommerce pos Communicate Directly With Customers With the unprecedented rising demand for personalization, the 2021 B2B eCommerce marketers started to communicate with customers more directly. The sellers have diversified their approaches to engaging with customers, including email marketing, on-site content, personalized product recommendation with high-quality and helpful content to increase their satisfaction. Conclusion With the reported 2021 B2B eCommerce trends and statistics above, we hope that you can catch the eCommerce tendency and make your store fit with the current contexts.
What is the cost of building a Magento B2B site?
When getting started with Magento B2B, there are various issues that need sellers to take into consideration. One of the most decisive things to consider is the cost of building a Magento B2B site. Without careful preparation, your business will struggle with the heavy burden of expenses. Therefore, our article today will figure out all types of costs when forming the Magento B2B site. How much does it cost to form a Magento B2B site? Magento 2 Open Source Costs Website Development To develop a Magento 2 B2B website, the first option may be hiring an agency. The agency can help you build a website with high performance, full features for all of your transactions which is supportive for your B2B business. After the web development process, you can contact the agency for further consultants, maintenance and supports àn create a long term relationship. With the high-quality service, the amount of money you need to pay for the Magento B2B agency is considerable, from $25 to $200 per hour on average. Another option to build your Magento B2B site is hiring a freelance developer. This is a much cheaper solution for SMEs but there are some limitations. The business runners can not control the skills, expertise and abilities of the developers as well as the long-term insurance for the Magento B2B site. To avoid those drawbacks, the businessmen should consider carefully the freelancers’ background, whether they can meet your expectations to reduce the risks of poor results. The cost for hiring Magento B2B developers is variable from country to country. While it costs from $10 to $20 per hour in Southeast Asia and from $20 to $60 per hour in Eastern Europe, it costs much more in the US, UK, up to $200 for one hour. You can build your own development team from your workforce. Your team will understand clearly about your business, each project and you can manage them more easily. The cost of this approach is up to $80,000 for a junior developer and up to $120,000 for a senior developer per year. Themes As a marketing approach, having attractive Magento 2 B2B themes can help your store be more impressive and engaged. While decorating a theme is not compulsory, you may need to purchase it if you want to enhance customer engagement and communicate with visitors. The cost of this part is up to $499; and if you do not want to invest, the cost is zero. Domains Another part of the Magento B2B website is buying domains. The best domain name is the one that can make customers impressed and help them remember your site easily for further access. There are two options for you: buy a completely new domain or redeem an expired one. The cost of a new one is from $10 to $15 per year and the cost for redeeming is from $20 to $500 per year. Extensions It would be a mistake if you didn’t equip Magento 2 B2B extensions for your business because those things can optimize your operation and boost your revenues. Magento app marketplace offers various apps for you, including the single one and sets of apps. To optimize the productivity and enhance integration, you would be better to purchase a set of extensions, which costs from $599 to $3000. SSL Certificates All your B2B transactions take place on your Magento site, that is why you need to make customers feel safe when they give you their personal and payment data. One approach is getting an SSL certificate. Traditionally, the costs for those certificated is included in the hosting service’s cost. However, if you buy those certificates from other authorized companies, you need to pay from $10 to more than $100 per month. Marketing There are a lot of approaches to do marketing on your Magento B2B. Content Marketing and social media marketing costs much more than other forms, $3000-$5000 and $400-$20,000 per year respectively. The business runners can invest in cheaper forms of marketing such as SEO ($300-$1,500/year) and Email Marketing ($100-$1000/year). Also, the cost of paid ads is also considerable, but it depends on your demand. Maintenance There are a lot of arising problems during your operation such as bugs, low-responsive websites, poor performance and security risks. To solve all those problems, you need to pay the maintenance costs to fix and upgrade your website annually. In detail, the maintenance cost idd from $500 to $12,000 per year. Magento 2 Commerce Costs The big enterprises usually choose Magento 2 Commerce to operate their business as this platform can provide various functions specialized for B2B merchants. The costs for Magento 2 Commerce Costs is up to $22,000 per year. Magento Commerce Cloud Costs Magento Commerce Cloud is the most expensive edition among three ones. Because it can handle a large amount of data and incredible management ability, the price of this version is from $40,000 to $190,000 per year. Conclusion With our lists of different costs to build a Magento B2B site, we hope that you can confidently choose suitable approaches for your business and are ready to make a financial plan.
