Generally, when we think of e-commerce we think of the likes of Amazon or eBay, where web users (like you and me) log in and view products and finally make a purchase. However, we have come a long way from that and the e-commerce domain itself has expanded. Working with analytics for clickstream and e-commerce companies, our team comes across different business types whose needs (often) ranges like day and night. Hence we decided to write a little bit about the different types of e-commerce businesses that are popular and the type of analytics that works for them.
Types of e-commerce organizations
B2B types of e-commerce companies often focus on a lesser number of audiences. Their approach to engaging customers are different than B2C. The transaction happens between two companies and this means that the pool of opportunity is rather limited. Especially if compared to B2C. These organization often look at engagement metrics such as the amount of time a visitor spends on their website, the number of times a whitepaper or a document has been downloaded, LTV, CAC etc. In addition to this they also often need the tool to maintain their internal infrastructure (for tech companies).
These types of e-commerce organizations are better known among people. They sell products and services to individual consumers. They may vary by the product type and mode of operation but often they look for similar insights. Product & category analysis along with strong personalization and recommendation engines are the top priorities nowadays. Also, these organizations deal with massive data volume when it comes to clickstream data (as the number of visitors for B2C is higher) and many of them are looking for analytical assistance in form of Machine learning and Artificial Intelligence.
“You can’t just open a website and expect people to flood in. If you really want to succeed you have to create traffic.”-Joel Anderson, Walmart CEO
C2C e-commerce organizations typically function by providing a platform for a transaction between different consumers. By this virtue, they not only need to have a strategy in place for buyers but also the sellers. eBay is the most prominent example of such operation. Here, the organization caters to two different sets of consumers (buyers & sellers) and need to work with two different sets of data to analyze their business effectively. Similar to B2C, personalization, recommendations, value-added services, products, categories, sales numbers and other engagement metrics needs to be constantly monitored.
This again is a platform for consumers. However, instead of doing a hard sell, these organizations receive requirements from consumers and try to meet them. For example, a job application site fits in this bracket. This means they often need to keep their visitors (consumers) engaged by providing them with relevant information. Tracking of email metrics, the frequency of visits, ease of use and value-added services work well.
We, at IQLECT, are helping today’s different types of e-commerce businesses tackle various use cases and challenges to engage visitors, increase conversions and use ML/AI to improve their operation. You may check our app here.
Read more on the future of e-commerce.