Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business

Abstract: The knowledge of high-value customers provides the possibility to make decisions ensuring profitability of the company. By analyzing and optimizing a buyer’s journey, companies can better understand their customers and optimize marketing costs in the way that will generate a high...

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Autores principales:	Kakalejčík,Lukáš, Bucko,Jozef, Vejačka,Martin
Lenguaje:	English
Publicado:	Universidad de Talca 2019
Materias:	Attribution modeling Multichannel attribution Digital analysis Web analytics Markov chains
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762019000200105
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spelling	oai:scielo:S0718-187620190002001052019-12-17Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce BusinessKakalejčík,LukášBucko,JozefVejačka,Martin Attribution modeling Multichannel attribution Digital analysis Web analytics Markov chains Abstract: The knowledge of high-value customers provides the possibility to make decisions ensuring profitability of the company. By analyzing and optimizing a buyer’s journey, companies can better understand their customers and optimize marketing costs in the way that will generate a higher return on investment. The primary objective of this paper is to define the current state of multichannel attribution and, based on the literature, study and analyze the data regarding the buyer’s journey of high- and low-value customers of selected e-commerce business. To accomplish the main objective of our study, we retrieved and analyzed top conversion paths from Google Merchandise Store, the e-commerce website selling goods branded by Google, with the use of Markov chains and heuristic models. A difference between high- and low-value customers regarding the acquisition by marketing channels before the purchase was found. Moreover, it was found that high-value customers' journeys consist of more interactions compared to those of low-value customers.info:eu-repo/semantics/openAccessUniversidad de TalcaJournal of theoretical and applied electronic commerce research v.14 n.2 20192019-01-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762019000200105en10.4067/S0718-18762019000200105
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Attribution modeling Multichannel attribution Digital analysis Web analytics Markov chains
spellingShingle	Attribution modeling Multichannel attribution Digital analysis Web analytics Markov chains Kakalejčík,Lukáš Bucko,Jozef Vejačka,Martin Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business
description	Abstract: The knowledge of high-value customers provides the possibility to make decisions ensuring profitability of the company. By analyzing and optimizing a buyer’s journey, companies can better understand their customers and optimize marketing costs in the way that will generate a higher return on investment. The primary objective of this paper is to define the current state of multichannel attribution and, based on the literature, study and analyze the data regarding the buyer’s journey of high- and low-value customers of selected e-commerce business. To accomplish the main objective of our study, we retrieved and analyzed top conversion paths from Google Merchandise Store, the e-commerce website selling goods branded by Google, with the use of Markov chains and heuristic models. A difference between high- and low-value customers regarding the acquisition by marketing channels before the purchase was found. Moreover, it was found that high-value customers' journeys consist of more interactions compared to those of low-value customers.
author	Kakalejčík,Lukáš Bucko,Jozef Vejačka,Martin
author_facet	Kakalejčík,Lukáš Bucko,Jozef Vejačka,Martin
author_sort	Kakalejčík,Lukáš
title	Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business
title_short	Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business
title_full	Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business
title_fullStr	Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business
title_full_unstemmed	Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business
title_sort	differences in buyer journey between high- and low-value customers of e-commerce business
publisher	Universidad de Talca
publishDate	2019
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762019000200105
work_keys_str_mv	AT kakalej269ikluka353 differencesinbuyerjourneybetweenhighandlowvaluecustomersofecommercebusiness AT buckojozef differencesinbuyerjourneybetweenhighandlowvaluecustomersofecommercebusiness AT veja269kamartin differencesinbuyerjourneybetweenhighandlowvaluecustomersofecommercebusiness
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Differences in Buyer Journey between High- and Low-Value Customers of E-Commerce Business

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