There is a new suite of free marketing solutions for merchants, launched by PayPal, that provides analytics around how shoppers use the online payment platform.
In the announcement, the newly-released shopping insights tools includes aggregated and anonymous data that tracks the behaviors and preferences of PayPal users.
“This includes things like how many shoppers are mobile shoppers; how many shop for big-ticket versus small-ticket items; how a particular merchant site attracts customers compared to other similar sites,” writes PayPal in its release announcing the rollout.
I order to use the tools, merchants have to install a PayPal code snippet on their sites, which collects information on PayPal web visitors and customers including:
- device and type,
- IP address,
- page impressions and clicks,
- and URL.
In return, merchants will receive analytics data, which is similar to Google Analytics, that can be employed to improve conversions and better serve their customers.
The code allows merchants to enable PayPal’s “Smart Incentives,” which is a promotional messaging feature that will inform users that they can use PayPal Credit and One Touch checkout on the site, which will help drive conversions from customers who like paying using those methods.
These new features are available to merchants who use its payment processing, PayPal Credit and other PayPal solution. These solutions include those who use them via third-party e-commerce platforms, like WooCommerce, Shopify or BigCommerce.
Soon, the online payment platform will provide recommendations for merchants to help them increase conversions based on the data it tracks.