What impact can Site Search insights have on your Magento, Shopify or BigCommerce Store?

Elza

April 1, 2023

Min read

"Hello, how may I help you?" says a polite salesperson as soon as you enter a store."I am looking to buy..." and you go on telling the salesperson about what you are looking for."Oh sure, we have those, here are some options..." and that's it, you take your pick, purchase the product and go about your way.This was the case with brick and mortar stores. But now, in the aftermath of the pandemic and the increasing eCommerce preferences, people buy everything online, whether it is medicines or clothes or anything else! When they land on your website, how do they find what they are looking for among so many products? That's where the importance of 'search' comes in.Your eCommerce site search box is an online salesperson that works 24x7, helping potential customers find what they want. It is one of the most important factors that determine the success of an eCommerce store. You probably knew that. But, did you know that eCommerce site search hasa treasure trove of valuable data that can create an important impact on your eCommerce store and help drive up conversions by a whopping 30%? Extract these insights for a higher ROI!Let's understand more about this impact on your Magento, Shopify, and BigCommerce site search. And the impact of the best eCommerce search engine like Tagalys, on your online store's planning and marketing processes.

Top-Line impact of eCommerce Site Search

Gain knowledge of customer preferences & behavior

Search data = demand data. You can learn more about the details of products clicked, visitor engagement, location of your visitors, time spent on the website, shopping behavior, etc. This allows you to understand better when it comes to what the customer wants and stock products to meet the demand.You can also know the top queries and bestselling products for your eCommerce store to highlight them or promote them. Are people looking for specific products like "smartphones" and "laptops"? Find out through search reports.

Data-Driven Merchandising & tweaking of landing pages

The knowledge gained through search reports then allows you to create relevant banners on your landing pages that showcase the products that are most-searched. Banners can lead to higher CTR (click-through rate), higher AOV(average order value), and, ultimately, more conversions. This is a great recommendation for on-site search best practices.It is advisable to dedicate 2 out of 5 banners to 'search for' data and 3 out of 5 to Trending' data to increase your eCommerce website's revenue.

The bottom-Line impact of eCommerce Site Search

Equips you to fulfill customer demands

Knowing what the customers want can help you reassess your inventory and get more products that are being searched for. It is one of the eCommerce site management best practices. For example, get more "diamond rings" instead of gold rings if that's what your customers are searching for the most.This way, when you streamline your inventory, you can prevent compulsory "discounting" to move stock that has been in your inventory for long, boosting revenue.

Customer acquisition & SEO insights to know what's working

Here's another interesting insight that mining site search eCommerce data can get you. You'll be able to know where your customers are coming from to tailor your marketing strategies.You can also know what keywords or platforms are working the best. You can then use your marketing resources optimally, reducing customer acquisition costs.Another metric that will tell you if what you are doing now is working or not is your search bounce rate. If it is too high (above 45%), then it means that you need to tweak your website to improve how search works.

Make the most of 'Search'

Mining your search data is extremely important for two of the most important eCommerce processes -- marketing and planning. How do you explore the power of this site search - eCommerce data intelligently? With TagalyseCommerce search solution!

Get merchandisable search results
Create focused marketing campaigns
Maximize conversions through conversion-optimized product sorting
Informed decision - optimize your eCommerce store
Optimize product sourcing
Collect and analyze click-stream data by location
Display popular and pinned searches
Auto-correct searches, display synonym search results
Prevent no-search results by displaying similar products

and implement a lot more internal site search best practices through Tagalys's intelligent site search solution! eCommerce site search engine, Tagalys' intuitive suggestions are just what you need to drive up revenue and scale.References:

https://www.semrush.com/blog/e-commerce-analytics-15-reports-and-insights-that-really-matter-for-online-stores/
https://www.freepik.com/free-vector/setup-analytics-concept-illustration_7140765.htm#query=analytics&position=19
https://www.freepik.com/free-vector/setup-analytics-concept-illustration_8961410.htm#page=1&query=analytics&position=35
https://www.freepik.com/free-vector/analysis-concept-illustration_7069167.htm#query=analytics&position=49
https://www.tagalys.com/products/e-commerce-site-search/

The Evolution of KYC

KYC is a fundamental regulatory requirement aimed at preventing money laundering, fraud, and identity theft. Historically, KYC involved manual verification processes that required customers to submit physical documents, leading to delays and potential errors. The advent of digital KYC has transformed this space, enabling faster, more accurate, and seamless verification processes.

Image courtesy of Vlada Karpovich via Pexels

Vision and Approach

Neokred is at the forefront of this digital transformation, offering cutting-edge solutions that simplify and streamline KYC procedures. Their approach is rooted in leveraging advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to create a secure, efficient, and user-friendly KYC process.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”

Key Features of Digital KYC Solution

AI-Driven Verification
Neokred uses sophisticated AI algorithms to verify customer identities in real-time. By analyzing patterns and detecting anomalies, AI ensures that only genuine documents are accepted, significantly reducing the risk of fraud.
Seamless User Experience
The platform is designed with the end-user in mind, offering an intuitive interface that guides customers through the verification process effortlessly. Users can upload documents, capture selfies, and complete verification steps from the comfort of their homes.
Blockchain Security
Blockchain technology enhances the security of KYC data by creating an immutable ledger that is resistant to tampering. This ensures that customer data is protected and can be audited with transparency.

Success Stories

Conclusion

Digital KYC solution represents a significant leap forward in the way businesses approach identity verification. By harnessing the power of AI, blockchain, and seamless integration, not only simplifies the KYC process but also enhances security and compliance. For businesses looking to stay ahead in a competitive market, embracing innovation could be the key to unlocking greater efficiency, cost savings, and customer satisfaction.

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