Clarobi, Sales Analytics for Ecommerce

25/09/2020

Studies by RJMetrics indicate that besides shopping more frequently than average customers, the top 10% of loyal customers spend three times more per order than the lower 90% while the top 1% of your loyal customer spend five times more than the average customers.

Loyalty is absolutely a big word in every relationship. Are you looking at building trust, security or prosperity?

25/09/2020

Approximately 70% to 80% of all online shopping carts are not converted, which translates into about $4 trillion in sales. The good news, however, is that 63% of these abandonments are potentially recoverable. To address this leakage in your sales funnel, you may have to adopt an abandoned cart email strategy.

The beautiful thing about having analytical tools on your eCommerce platform is that you have the privilege of following up details of every

25/09/2020

Customers are aware that businesses now offer VIP treatments to certain customers who are deserving. While every customer would wish you treat them specially; this is just impossible judging by the fact that all customers do not make an equal contribution to your business.

It’s not a secret that customers are the live wires of any business; organizations will do everything they can to ensure that they treat the

25/09/2020

Clarobi exists to help companies make the most out of their generated data. We provide solutions to help you get the necessary insight you require to leverage your strengths, know your weaknesses and act accordingly as well as identify what your threats and opportunities are.

A company’s Annual Report (AR) is one of the principal documents of interest to both current and potential investors because it is the windo...

25/09/2020

The whole idea of using influencers to promote products to specific audience sounds very seamless and interesting. However, getting the right fit for the job on social media is a daunting task.

Marketing is about being able to influence people to patronize a particular product. A lot of companies and products have hit the top of the

25/09/2020

Research suggests that it takes more than an excellent business idea to succeed in business. With more than 2.5million active sellers, over 1 million sellers joining yearly and over 95 million loyal shoppers, it will certainly take more than just a business idea to succeed on Amazon.

Research suggests that it takes more than an excellent business idea to succeed in business.

25/09/2020

Without a doubt, Covid-19 is the single most important defining event of 2020, and the implication will certainly be here with us for a much longer period than envisaged. It is already redefining our lives in more ways than we could imagine. Our social lives are rapidly changing; religious houses are empty, restaurants, bars, cinemas, shopping malls are just recovering after being shut down.

Without a doubt, Covid-19 is the single most important defining event of 2020, and the implication will certainly be here with us for a much

25/09/2020

In today's competitive business climate, segmentation is a must if you want to improve your marketing efforts and ultimately boost your sales. This article will explain other benefits of segmentation and how to use customer segmentation to build customer loyalty for your business.

Customers are individuals with each having their unique interests and needs. You can vastly add customer loyalty to your business by approac

07/07/2020

Why CLV is Important
Whenever you are into business, there are several concepts that you have to keep in mind all the time. These concepts are very crucial as they assist you in having a very good idea of how your business is faring. One such business concept is the parameter called the customer lifetime value.
Also referred to as CLTV, CLV, lifetime value (LTV), or even lifetime customer value (LCV), CLV is best described as a prediction of the net profit that can be linked to the complete relationship you have with a customer in future.
The definition of CLV can be said to mean the financial value of the relationship you have built with a client, dependent on the current value of the cash flows expected in the future as a result of the relationship you have built with the customer in question.
The Calculation of CLV
Just as it is with some other business parameters, there is also a formula for the calculation of CLV and it is as follows:
Customer Lifetime Value = Margin . Retention Rate/1+Discount Rate – Retention Rate
However, kindly note that this applies as long as the retention rates and margins are constant.
Impact of CLV on Your Business
As hinted in the sections above, CLV is very important as a parameter for assessing the overall assessment of your business. As a measure, the customer lifetime value helps enterprises to redirect their focus and concentration on short-term profits into building solid, productive, and long-term relationships with their clients. This way, you are not going to focus on ‘affordable’ customers on the short-term but clients that will eventually provide high value over time.
However, helping the businesses redirect their focus on a permanent relationship with the clients is not the only important thing to CLV. So, yes, while CLV helps you in the management of relationships with customers as an asset, there are other applications for it too. It is also good as a metric that helps you know when you have got to the upper limit of your expenses relating to getting new customers.
With the CLV, it is also possible for you to assess and properly tract the impact of strategies of marketing that you are employing. The same thing applies to know the level of optimal investments when it comes to sales campaigns and marketing efforts. The allocation of resources in the most effective ways possible concerning marketing efforts, so you can get the highest level of returns, is another way by which CLV is applied.
Working with Clarobi
As you must have noticed by now, there are several applications and benefits of CLV. They are so numerous that not all business owners know how to go about them. Some do not even know how to do the calculation.
Well, the good news is that Clarobi is always on hand to help you fix everything relating to your CLV. With an ultramodern platform and an array of excellent tools alongside the best services in the industry, you can be sure of getting nothing but the very best when doing business with Clarobi.

07/07/2020

The Importance of Return Rate and What Can Be Done to Reduce It – Clarobi For You

Quick Overview of Return Rate (RR)
In business, several parameters are used to assess the performance of the venture. One of the most relevant in this instance is the return rate. These parameters are collectively known as the key performance indicators (or simply KPIs). At Clarobi, the return rate (also known as RR) is one of the most useful for tracking and observing the overall trend of an enterprise. As it is with the other KPIs, the RR also has its method of calculation.
At Clarobi, we make use of two kinds of RR. These include the one that is known as the global RR and another is the one called product-specific RR. For each of these return rates, there are very specific formulas that are used for the calculation of each. The following are the formulas we employ for the calculation of the RRs and they are as follows:
Global RR = The Number of Orders Returns/The Total Number of Invoiced Orders
Product Specific RR = The Number of Returned Units/The Number of Sold Units for Specific Product.
Importance of the Return Rate
Now that an overview of the return rate has been done alongside how to do the calculation, the next section will be on how important it is. In business, it is not a good thing if you are having an increased return rate. It signifies a downward trend for your business and should not be ignored. A situation where it is higher than the global RR for a particular product, the implication is negative. It typically implies that the description of the concerned product is not good enough.
It can also mean that low-quality images were used and in worst cases, it can mean that the quality of the product itself has been compromised. However, if you are making use of Clarobi services, all these will be handled properly. In fact, with Clarobi, things are not even going to get this worse.
Clarobi has a system that ensures constant monitoring of the global RR and for this parameter, you can set particular points and whenever these points are reached, automatic alerts and notifications will be sent to you. The main advantage of this is that you are going to instantly notice if anything is going wrong. Prevention is better than cure so you get to fix any error on time before any lasting damage can be done to your business.
Reducing your Return Rate with Clarobi
One of the core missions of Clarobi is to do a thorough assessment of all the parameters on your behalf. One such parameter is the return rate. A spike in the return rate is not good for your business. Clarobi immediately detects a rise in RR and you are alerted. Apart from regular alerts, the Clarobi system delves in deep to know precisely the factors causing an increase in the return rate. These can be a wrong description of the product, use of images with poor quality, and even a low level of quality of the product. Once the causes are known, the return rate can be reduced by having the causes fixed.

07/07/2020

Getting to Know Your Customers
It is often said, for good reasons, that most of the businesses that are opened do not survive, and not a few collapse after a little while. Many reasons can be attributed to the failure of business but some of the most important reasons have to do with the customers. Many business owners do not know their customers. Even worse still, some assume that they know their clients only for them to realize when it is too late that they do come to the ugly reality.
If you are to succeed in any type of business, one of the most cardinal points you must have at the back of your mind is that you must know your clients. This comes with a lot of advantages. Knowing your clients means you also get to comprehend their needs. You will also understand why some sales campaigns are working and why some others are constantly giving negative returns. Knowing your customer also means you get to respond better while also coming up with the perfect goods, products, and services that will give the greatest benefit to your clients.
Clarobi – Your Ideal Partner when it Comes to Knowing Your Clients
Even though the importance of knowing your customers has been outlined earlier and it sounds simple, it is not always that straightforward. Some business owners are clueless when it comes to knowing their customers.
Well, that is where Clarobi comes perfectly into the picture. With years of experience, professional crews, and sophisticated tools, Clarobi is the best partner you can have when it comes to knowing your customers and making the best of such information.
With Clarobi, there is automatic segmentation of all the customers on your platform and this is done based on the activities of the customers in your space. As a result, by the time the segmentation is complete, you are going to have seven big groups. These include the newbies who just joined your platform and then those who are considered the VIP customers. The latter are those who are typically the biggest spenders in your store.
The other segments of customers include those classified as the ghosts. The ghost customers are those who have taken time to sign up but have not done any transaction, they have not patronized you or bought any of your products or goods. Then some are called the one-time buyers and as the name implies, are those who have made just one purchase. Then there are the regular customers who have made several purchases on your platform.
Clarobi and Customer Risk Identification
Our system does not just assist you with the segmentation of customers, it also helps to know the customers who have remained dormant in the past six months.
You stand the risk of losing these customers without taking the necessary steps. The same thing applies to inactive customers – those who have remained dormant in the past three months.

29/05/2020

Don’t lose your customers to preventable issues. Once you review and improve the factors listed here, you will see significant improvements in your e-commerce business.

The e-commerce landscape is booming, drawing in more consumers, and with them, more competition.