How to fix revenue leakage with advance analytics?

Customer interaction data and advanced revenue analytics help businesses spot drop-off points and fix revenue leakage.

According to the latest consumer insight report from Google, the buying decision often happens in a complex space between triggers and purchases. In this ‘messy middle’ of finalizing what to buy and where to buy it from, customers explore and evaluate multiple channels. This nonlinear journey can either result in revenue generation for the brand or complete loss.

While it is obvious that customers want to make informed decisions and weigh all options, it is less clear how they process information and finalize the purchase. For that, it is important to track customer journeys from the moment they land on your website all the way to checkout. However, with customers using multiple channels and freely hopping from one to another, their journeys are becoming more complex to map.

Analyzing revenue leakage can address this issue. Revenue leakage analytics can clearly identify at what stage in the order’s lifecycle the customer drops off, and help you optimize the experience accordingly.

Do you know why your visitors are dropping off before making a purchase?

Omnichannel experience is all about understanding the complicated web of touchpoints and customer’s cognitive biases to create flawless customer journeys. Be it to boost engagement or plug revenue leakage, analyzing when and where your customers get distracted is crucial for weaving together omnichannel experiences. The simple reason is that many customers do not get to experience the shopping journey as it was intended for them, due to various pop-ups, banner ads, or technical glitches.

By deep diving into customer journeys using interaction data and revenue analytics, businesses can spot potential customer drop-off points and create the most effective journey pattern to maximize conversions. They can create transparency in the buying funnel with a comprehensive view of the customer journey, track footprints and missed opportunities, identify and troubleshoot issues, and optimally plug drop-offs that lead to revenue leaks. Since customer preferences will continue to evolve based on the channels at their disposal, analyzing customer migration across channels is also important for future agile handoffs. Businesses today can capitalize on the valuable insights generated to better connect with customers and increase revenue.

Another important thing is to enable automation. The more tasks you do manually, the more chances you have of inaccuracies and errors. Outdated systems that fail to measure complex, fast-moving parameters can also allow revenue slip-ups. The world’s first autonomous revenue generation platform is a solution to avoiding this chaos. With Flyfish’s revenue analytics for real-time tracking, you can perform fool-proof revenue generation and more.

Flyfish is uniquely designed to capture all opportunities for revenue generation and nurture them to avoid leakages. It can expand high growth revenue pools by plugging drop-offs throughout the customer journey. Available across all leading channels of interaction, Flyfish can be deployed on the web, mobile, voice assistants (Alexa, Google Assistant), IMs (WhatsApp, Telegram, Messenger), and wearables, creating a holistic analytical environment.

You can measure different metrics and derive intelligent, actionable insights by visualizing a wide variety of customer interaction data. You can:

  • Keep a tab on the shopping habits of users
  • Track growth opportunities to optimize the buyer journey
  • Determine the revenue contribution of each product/service
  • Identify funnel bottlenecks & improve conversion rates

The cherry on top - Flyfish can also do all this while you are fast asleep. Flyfish is easy to integrate with legacy MarTech stacks. This platform alone can generate leads, convert them, and ensure an enriching experience with zero chances of customer dissatisfaction. You can create a frictionless sales experience and drive your growth without any human involvement in between.

On the whole, it serves as a one-stop-solution for all eCommerce challenges. By anticipating shoppers’ needs to provide information and guidance on product selection, Flyfish paves the way for a well-crafted omnichannel customer experience. With the fine- tuned process of interchannel hopping and intuitive insights, you can recover all the revenue that was previously lost. But even more importantly, you can create long-lasting brand value and loyalty since the customer gets what they want in no time.

Cover business blindspots with Flyfish

Any amount of revenue leakage is too much. Every leak in the revenue funnel represents instances when a customer willing to invest in your brand refrained from doing so. Such leaks can happen anytime, anywhere in the customer journey that spans an incessantly increasing number of channels and touchpoints. To fill such loopholes, integrating a smart revenue analytics platform is imperative.

Flyfish can dramatically improve the chances of a visitor-to-customer conversion. You can not only detect customer dissatisfaction points but also improve your user experiences, offerings, and other strategies. The observations are in real-time and autonomous, giving you another edge to dynamically improve your brand relations.