The client: Healthcare retail company
Area of engagement: Clickstream Analytics
Very few things in the healthcare sector can be as potentially disruptive as retail healthcare or retail clinics – and for that reason, there is so much attention focused on them. By their very existence, they could complement or threaten at least five parts of the healthcare system including hospitals, pharmaceutical equipment manufacturers, and other government healthcare facilities. Several leading healthcare sector firms have recognized this trend, and in addition to expanding critical care offerings, they are also increasingly partnering with national pharmacies and retailers to establish walk-in healthcare retail outlets.
Today’s omnichannel retail customers leave behind massive trails of digital footprints when they engage in e-commerce interactions. These data logs comprise of thousands, millions, or even billions of hits to tell the story of views, add to carts, checkouts, and bounces at every point in the online journey. A detailed analysis of this data allows healthcare retailers to understand customers’ interactions with the brand and gain more profound business insights to optimize their strategies. Also, these ideas enable them to find, target, or retain their ideal customers in a better way.However, several other factors are influencing the growth of the healthcare retail companies across the globe. These factors include:
- Technological impact: The rapid technological advancements have made it easier for companies in the healthcare retail industry to handle large-scale businesses while catering to the needs of consumers. The introduction of electronic media, marketing techniques, and computerized billing systems have changed the face of the healthcare retail firms when it comes to providing medical services to customers. Moreover, the use of online market has further driven the healthcare retail sector towards advanced growth structure.[spacer height=”20px”]
- Value for money: Well-organized healthcare retail outlets primarily deal with volumes offering a range of drugs and medical services at a reasonable price; thus, attracting customers on a very large scale. This in return also creates an excellent opportunity for retailers to get more profits & enables new business groups to enter the healthcare retail sector.[spacer height=”20px”]
- The rise of consumerism: Healthcare retailers today face a more demanding and knowledgeable consumer base. The increase in consumer expectations has forced these firms to change the format of healthcare retail trade. The factors affecting the growth of organized healthcare retail include consumer demand, convenience, comfort, time, and location.
[spacer height=”20px”]Many such factors are compelling healthcare companies to leverage the use of clickstream analytics. Clickstream analytics solutions assist firms operating in the healthcare retail market space to devise effective strategies to predict and profile the potential customer segments. Such solutions also help the companies target the audience to offer customized services to suit their requirements.
The Business Challenge
A critical strategy for healthcare companies to survive in today’s competitive market space is to provide their services in a retail setting
The client, a renowned player in the healthcare retail sector, with its business units spread across economies was facing predicaments in analyzing their customer segments to offer personalized services. The client was looking at analyzing clickstream data to segment customers and analyze the traffic. Moreover, they also wanted to identify organic keywords and traffic drivers to improve conversions. The healthcare retail firm also wanted to devise new pricing strategies, better segment customers, and analyze the website’s performance by leveraging the use of our clickstream analytics solution.