Do You Really Need PayPal's New Shopping Insights?
PayPal is introducing a collection of new (and free) marketing solutions for Internet retailers that will provide analytics about how their shoppers use the online payment system.
The new shopping insights tool will include aggregated and anonymous data tracking of the behaviors and preferences of PayPal users including things like how many shoppers are mobile shoppers, how many shop for big-ticket versus small-ticket items, and how a particular merchant site attracts customers compared to other similar sites.
To use the offering, merchants will just need to install a code snippet on their sites which will collect information on PayPal Web visitors and customers (including cookies, browser, device/type, IP address, page impressions and clicks, and the URL). In return merchants will receive data similar to what's provided by other analytics offerings that can ultimately be used to improve their conversions.
What's unique about the system however is that merchants deploying the code will be able to use PayPal's "Smart Incentives," a promotional messaging feature that can inform users they can use PayPal Credit and One Touch checkout on the site.
These new features are available to any merchants who uses its payment processing, PayPal Credit and other PayPal solutions, including those who use them via third-party e-commerce platforms such as BigCommerce, WooCommerce, or Shopify.
The online payment platform says it will soon provide recommendations for merchants to help them increase conversions based on the data it tracks.