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boost-revenue

How to Boost Revenue via Simplified & Secure Direct Carrier Billing

Leave a Comment / Blog, Direct Carrier Billing /

The forecast for the direct carrier billing (DCB) ecosystem looks bright and sunny with the rise in mobile consumer adoption globally. DCB presents enticing growth opportunities for telecom companies. But great opportunities also come with great challenges.   In recent times, DCB witnessed a worldwide boom in many countries. DCB offers huge growth potential but in the end, it all boils down to the pros of utilizing DCB and ensuring security across the DCB ecosystem. Telcos who already hold good numbers of subscribers to ensure a rise in carrier billing. Digital content merchants can capitalize on credit/debit card-less payments, gaining more subscriptions moving towards next-gen entertainment services, and spread wings across their digital ecosystem.   Let’s dive a bit deep end route to ease up transactions via carrier billing. DCB vs Mobile Wallets & Cards Alongside mobile wallets and credit cards, offering DCB as a payment option provides the customer a convenient and trustworthy payment alternative. DCB doesn’t require any KYC or link to a bank account for payment.   The global DCB market was estimated worth around USD 32.23 billion in 2021 with an excellent CAGR of 9.34% and is projected to grow at a swift pace of around 10.10% between 2022-2032 globally.   The global DCB market competes with other payment services like Mobile wallet apps, credit cards, debit cards, and Internet banking, thus posing a challenge to the growth of the DCB market. The online payment market is dynamic and undergoes various changes globally. DCB has the capabilities to lead a revolution in the payment landscape with faster checkout.   For users in order to carry out DCB payments, all they need is a device with a SIM card to make a payment. The low penetration or slower adoption of credit cards in emerging markets is what prompts swift methods for payment services thereby building a great demand for direct carrier billing services.   Carrier Billing Simplified Across Industries & Services Carrier billing finds its utility across industries as new avenues are opening up that require more simplified and swift payment solutions. Consumption of digital content, gaming, digital commerce, and utility service payments are major areas where carrier billing is becoming the preferred mode to facilitate digital transactions.   Here are some areas where DCB is widely utilized around the world Purchasing digital content such as music, videos, and e-books. In-app purchases and subscriptions in the gaming industry Digital commerce platforms Payment of utility bills such as electricity, water, gas, etc. For booking flights, hotels, and other travel-related expenses Each and everything could be subscription based and billed on a mobile bill. The prospects are limitless. The globally rising number of consumers for digital goods and services is expected to significantly drive the growth of the global DCB market.   For instance, if you want to watch a movie rather than subscribe to OTT just for that all you need is to buy now or rent and debit payment to your monthly mobile bill. Convenience is the key market driver.   Perks of Carrier Billing Convenience: Direct carrier billing is a quick and easy payment method that eliminates the need for credit cards or other payment methods, making it a popular choice for consumers. Wider Reach: Direct carrier billing can reach consumers who may not have access to traditional payment methods such as credit cards, increasing the potential customer base for merchants. Reduced Fraud Risk: Direct carrier billing reduces the risk of fraud associated with online transactions as the billing is done through the customer’s carrier network. Increased Sales: Direct carrier billing can increase sales for merchants by making it easier for consumers to make purchases and reducing the friction in the checkout process. Simplified Billing: Direct carrier billing simplifies the billing process for consumers by adding the cost of the transaction directly to their monthly mobile phone bill. Improved Customer Experience: Direct carrier billing can improve the customer experience by providing a fast, seamless, and secure payment method that is available on mobile devices. Security Concerns in the DCB Ecosystem Pluck the roses but beware of their thorns. The security aspect is a major thorn in the DCB ecosystem. The Swift DCB transaction process needs to be backed by a comprehensive anti-fraud solution providing a seamless authentication process across the DCB ecosystem. A stringent authentication process in place can mitigate risks to deliver a truly simplified and secure carrier billing process.   Final Thoughts As payment service technologies become more extensively utilized, the value of the direct carrier billing platform market will continue to expand. Chart a new route to make carrier billing seamless and secure. Optimize customer experience and build on customer trust by deploying mFilterit’s DCB Anti-fraud solution to secure DCB transactions.   The mFilterIt DCB Anti-fraud solution ensures unparalleled convenience which enables a fast, easy, and secure online payment flow. mFilterIt identifies frauds with a multi-level defense mechanism and creates a trustworthy and reliable DCB eco-system that generates higher Revenue.   DCB payments make it easier for people to pay for digital services in a frictionless way by simply using their mobile phone numbers subsiding the lengthy checkout processes and providing a smooth & secure mobile payment ecosystem.   Schedule a meeting with us to know more about the perks of plugging in our DCB anti-fraud solution in your consumer’s transaction journeys.

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boost-engagement

How to Boost Engagement with Content Recommendations & Analysis?

Leave a Comment / Blog, Digital Shelf Analytics /

According to a survey, 87% of online customers said good product descriptions do influence purchase decisions. It often said visuals grab attention better than text. But what next? Once you get the shopper attention with a high-quality picture, product titles must clearly and quickly convey exactly what you’re selling, and then comes the description once your product gets discovered by the shopper. The hardest part of listing an item on e-marketplaces is setting the perfect product description to ensure visibility to the targeted customers. Finding the right words to define your product is quite a task. Let find out how brands and sellers ease this process with content recommendations and analysis and bring in more engagement and sales conversions. Product visibility on eCommerce platforms Brands need to be on their toes while listing products on digital commerce platforms. The competition is fierce, and shoppers have a shorter attention span. Brands and sellers must quickly engage shoppers with an attractive title and engaging description. High-quality A+ content with images and videos is critical to making a purchase decision. Brands can improve their organic search ranking by enhancing or let say refining the product description, with high-performing keywords and exponentially enriching the reach of their category page. 87% of online customers said good product descriptions influence their purchasing decisions Source: Salsify Survey Role of Content in the purchase decision – Content plays a vital role in shoppers making a purchase decision. Understanding the needs of the customers can help in putting up the right content recommendation. Brands and sellers need to focus on generating good content that connects with the audience. Influencing customers is a critical business goal that can be fulfilled via – Establish a lasting connection Providing relevant and useful information Building a sense of trust among customers Building a brand reputation as a market leader and an expert Being open to customer engagement Challenges in setting up the perfect Product Display Page (PDP) content There are several challenges in setting the right content for a product display page on an eCommerce platform. Some of these challenges include: – Balancing the amount of information: It’s important to provide enough information about the product to help the customer make an informed decision, but too much information can overwhelm them. Finding the right balance can be tricky. – Highlighting the most important and most relevant features: Customers want to know the key features of a product, but what’s important to one customer might not be important to another. It’s important to identify the most important features and highlight them prominently. – Providing accurate and up-to-date information in bullet form: Customers rely on the information provided on product pages to make purchasing decisions. Providing inaccurate or outdated information can lead to unhappy customers and a rise in product returns. Use bullet points to convey information. – Optimizing for search: Product pages need to be optimized for search engines to ensure they appear in relevant search results. This requires carefully choosing high-performance and relevant keywords and ensuring that the page complies with search guidelines. – Creating engaging content: Product pages that are engaging and visually appealing are more likely to hold a customer’s attention and lead to a purchase. This can be a challenge, particularly when dealing with products that are difficult to photograph or describe. – Consistency across product pages: It’s important to maintain a consistent look and feel across all product pages to ensure a seamless user experience. This can be a challenge when dealing with a large number of products or when different vendors are involved. It’s important to keep the customer’s needs in mind and to strive for consistency across all product pages. Why do brands need auto-generated content recommendation and analysis? The massive range of products listed across the eCommerce platform requires AI and ML to drive content that optimizes product performance by including SEO high-performing keywords and creating content that suits platform compliance. Brands need to move beyond manual content and switch to auto-generated content recommendations to optimize titles, descriptions, description bullets, images, and video scores. The Amazon Pi integration allows content recommendation analysis tools to fetch content and optimize overall content scores. Refines content to adhere to platform compliance guidelines. Save time in generating new content or correcting old content Identify gaps in the title & description text, and images & video content Include high-performance keywords to boost product Share of Voice across digital commerce platforms Final Thoughts – What should brands do? The manual process of refining Product display page content is neither cost-effective nor feasible for brands with a wide range of products under various categories and sub-categories across multiple eCommerce and Quick Commerce platforms. Brands need to move forward with advanced content recommendations analysis with ecommerce competitive analysis. Optimize PDP with Auto-generated content recommendations to set the right content theme that defines the product and boost product visibility with multiple content suggestions on PDPs. The brands should focus on achieving brand goals to push for more conversions with the perfect title and description and ensure your content suit every parameter defined across the eCommerce marketplaces. Comparing your product PDPs vs competition and understanding the gaps while ensuring all Government norms/ platform guidelines are met before publishing the PDP is critical to brand reputation and discoverability across the eCommerce and Quick Commerce platforms. Get in touch with our experts for deeper insights. Reach out to learn more!

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contextual-advertising

Adapt or Fail: Contextual Advertising in a Post-Cookie Landscape

Leave a Comment / Blog, Brand Safety & Protection /

All over the world, the rising concern about data security and user privacy has led to a major transformation in the way online marketing is conducted. Regulations like GDPR rendered cookies less effective, and now the third-party cookies which are the backbone of behavioral tracking for marketers, are being removed by browsers. By 2024, marketing campaigns will no longer be run by tracking using the third-party cookies that helped to identify the customers online and show them ads wherever they go. The ad placement in the cookie-less world will be defined by contextual advertising. What Is Contextual Advertising? Contextual advertising is a practice wherein marketers place ads that are relevant to the content of the web pages where they will be shown. For instance, a car ad would be shown on a website related to automobiles, and you might see a toothpaste ad on an oral healthcare portal. There might also be an advertisement for pens in a news article about school exams. Contextual programmatic ad is not based on cookies, but on keywords or the topic of the website. This is not only going to make targeting more efficient for the marketers, but it will also improve the experience for the consumers as they will not be bombarded with irrelevant and repeat advertising across platforms during their online activities. Contextual Advertising Is the Future Contextual advertising is changing the way digital advertising works. In the future, no web browser will use third-party cookies (Apple and Mozilla have already done away with them), and that’s when context will become the king. The marketers will need smart AI/ML-driven contextual targeting programmatic solutions to identify the context of a web page and display the right ad to the right users. It would ensure that if you are selling a beauty product your ad is not shown beside a sports website Contextual advertising is compatible with various privacy laws such as the GDPR or potential data privacy bills that might soon be introduced in a country like India. Further, the ability to use advanced AI/ML solutions to understand the context of a webpage accurately will ensure the delivery of messaging that appeals to the visitors of that webpage. It might be in its early stages, but it is estimated that contextually relevant advertising will be a segment worth over $375 billion within the next five years. Contextual advertising has been broadly used by different business branches, and online casinos are no exception. It is especially important for licensed casinos as they aim to reach a larger audience of players. Legal casinos are those that operate with valid licenses from recognized regulatory authorities, ensuring fair play and secure transactions. For these casinos, advertising is crucial to attract new players, build trust, and promote their legitimacy. By using contextual advertising, licensed casinos can effectively target potential players with relevant ads, highlighting their legal status and attractive offers, such as no deposit bonuses, to enhance their market presence. Prioritizing Contextual Advertising for the Post-Cookie World Google Chrome is the world’s leading web browser, and it will block third-party cookies starting in 2024. The technology to block the cookies has already become available, and Google has decided to wait until 2024 to allow developers and marketers to get used to cookie-less marketing. As a marketer, now is the time to act and ensure that you keep generating the desired results through contextual ad targeting. This not only helps in protecting the customer’s privacy but also increases the ad relevance and potentially higher ROI for the marketers. Within the next 2-3 years, contextually relevant advertising would become the standard approach for digital marketers, and early movers always have an advantage. Let’s take a look at some of the key benefits of contextual targeting programmatic for businesses: Better Targeting – Since the cookies are not going to be there, marketers can’t chase audiences with ads related to their preferences since that data won’t be accessible. However, they can easily use AI/ML tools to identify the most relevant web pages for ads and cater to an audience that is already interested in products/services similar to their offerings. Contextual advertising is a powerful tool used by casino operators to promote special no deposit bonuses movigame.jp/no-deposit-bonus. These bonuses allow players to try out casino games without having to make an initial deposit, offering free spins or bonus cash as an incentive. Casinos offer these no deposit bonuses to attract new players and give them a risk-free introduction to their platform. By using contextual advertising, casinos can target potential players with relevant ads, increasing the likelihood of engagement and sign-ups. This strategy helps casinos build their user base and encourage long-term player loyalty. Adherence to Privacy – With data anonymization and strict privacy laws mandating that advertisers can’t discreetly use cookies; contextual advertising ensures complete adherence to such privacy measures. Better Audience Engagement – Since the web page context and the ad content is going to be similar, there is a much greater chance of the ads engaging people than the conventional methods. This would boost the click-through rates and conversion rates of the campaigns. Superior Brand Safety – Contextually relevant advertising significantly reduces the chances of ads being published on irrelevant web pages. Thus, marketers can prevent ad fraud, reduce risks to brand value, and also optimize their ad spend. Let’s take a slightly deeper look at how AI and ML-powered solutions can make contextual marketing a safe haven for brands. Τα καζίνο Bitcoin έχουν αρχίσει να κερδίζουν δημοτικότητα στην Ελλάδα, προσφέροντας στους παίκτες τη δυνατότητα να παίξουν αγαπημένα παιχνίδια καζίνο χρησιμοποιώντας κρυπτονομίσματα. Αυτά τα καζίνο προσφέρουν τα πάντα, από φρουτάκια και ρουλέτες μέχρι πόκερ και μπλάκτζακ, όλα με δυνατότητα πληρωμών με Bitcoin και άλλα κρυπτονομίσματα. Εάν ενδιαφέρεστε να εξερευνήσετε τα καλύτερα Bitcoin καζίνο στην Ελλάδα, επισκεφτείτε bitcoin καζίνο ελλαδα. Εκεί θα βρείτε μια εκτενή λίστα με καζίνο που υποστηρίζουν Bitcoin, μαζί με αξιολογήσεις και πληροφορίες για τα διαθέσιμα μπόνους καλωσορίσματος. Αυτά τα καζίνο προσφέρουν επίσης γρήγορες και ασφαλείς συναλλαγές, επιτρέποντας στους παίκτες να απολαμβάνουν τα παιχνίδια τους χωρίς

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social-commerce

Welcome to The World of Social Commerce

Leave a Comment / Blog, Digital Shelf Analytics /

Has your brand joined the digital commerce revolution yet? No? You definitely should. Doesn’t matter how big or small a brand you are. Social Commerce is here to stay and grow at a rapid pace. New customers love making a purchase then and there. Impulse purchase drives a major chunk of social media sales. Typically, people google it or search for the item they seek on an online shopping platform. Once they discover what they want, they analyze the product and make a purchase. But social media empower them and triggers them to make a purchase instantly. Social Commerce in India The social commerce sector is rising high on the wave of new shoppers from tier 2 and tier 3 regions. Influencer-led commerce and recommendation-based or suggestion-based purchases are on the rise in smaller towns, and several large players in the space have scaled up quite rapidly in social commerce space such as Meesho. According to a report, the social commerce industry is expected to grow steadily, recording a CAGR of 62.4% during 2022-2028. India’s social commerce GMV will rise up to US$ 143,583.3 million by 2028 from US$ 8,258.8 million in 2022 There is a lot of traction in the apparel, and beauty & personal care space. Apart from that, another category that is receiving some traction is electronics. The change is in the air. Brands have now started tying up with influencers directly to promote their products. Gen Z and the millennial population who follows these influencers and brands on social media platforms are likely to contribute the most to the growth of the sector. The ecommerce market in India is poised to grow at a high speed due to the high adoption of social media platforms, and extensive smartphone penetration across the country. What Makes Social Commerce So Effective? Social commerce is a relatively new concept but has grown exponentially post-pandemic. A combination of social media and e-commerce uses social media platforms such as Facebook, Instagram, and Twitter to sell products and services directly to consumers. So, what makes social commerce so effective: – Purchase become part of social media experience – Social commerce empowers customers and enables them to make a purchase as part of the social media experience. It lures them in during micro-moments motivating them to make a purchase. – Target customers via their social media activity – Traditional digital commerce drives conversion via e-commerce advertising or search engine optimization (SEO) and optimization of customer journey while Social Commerce drives conversions via interactions, influencers, or sponsored content targeting potential customers based on their social media activity. – Doesn’t depend on traffic from searches – Social commerce across social media platforms is more effective as it’s not dependent on traffic coming from searches instead consumers are already engaged on the platform. The information known about the users is used for an algorithm to promote personalized suggestions. It makes it easier for the products or brands to feature directly on social feeds. – Ease of Making Purchase – Traditionally retailers share their products or services directly on their social media pages. They can use high-quality images or videos to showcase products and provide product details such as pricing and shipping information. But it needs users to move out of social media platforms and switch to online retail platforms and make a purchase. Things have become easier now as it takes users directly to the payment page. Users can make purchases directly from the social media platform, often using secure payment systems. Some social media platforms also offer their own payment processing services. – User-generated content and social sharing – Social commerce relies heavily on user-generated content and social sharing. Retailers can encourage their followers to share their products on their own social media pages, which can help to increase brand awareness and drive more sales. – Monitor and analyse performance – Brands can regularly monitor social commerce platforms to analyze performance, measure sales, and track user engagement vis-à-vis competition. This data can be used to optimize Social Commerce performance via ecommerce intelligence and will help formulate strategies and improve results. Overall, social commerce is a way for businesses to leverage the power of social media to reach a wider audience and drive sales. By creating engaging content, building a following, and making it easy for users to purchase products directly from social media, businesses can tap into a new revenue stream and increase their online presence. What’s Trending In The Social Commerce Segment 1. Small businesses are thriving: According to Harris Poll for Sprout Social survey, 70% of small businesses now are getting more visibility on social media and ensuring their presence on at least one social media platform. Many of their Small eCommerce businesses directly sell their products to consumers on social media. 2. It’s all about convenience: Making a purchase while scrolling through social media posts is trending. The ease of shopping and convenience of making a purchase is attracting more and more users. Products from their favorite brands and retailers can now be bought without ever leaving the platform. This makes the process quick and seamless. Personalized and targeted advertising, on social media, help consumers discover products relevant to them and suit their interests & needs. 3. Rise of mobile commerce: In the omni-channel retail ecosystem, businesses are focused on optimizing the customer journey and product performance across shopping platforms. Using tools to optimize not just on the eCommerce marketplace but also on their websites and social media for mobile. The high penetration of smartphones among widely distributed Indian demographics has led to a rise in mobile commerce. This pushes the popularity of social media as a shopping destination further with easier shopping on the go. 4. Influencer marketing on a rise: People Trust the words of the people they follow. Influencers or personalities with a large following on social media are now not just promoting brands on social media but also selling their product on social media to a highly targeted audience. Many consumers view

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live-commerce

Live Commerce – Buy it when you see it

Leave a Comment / Blog, Digital Shelf Analytics /

Indian eCommerce players are swiftly moving towards Live Commerce to connect with new shoppers The rules of the game are changing! Online shopping is no longer limited to eCommerce marketplaces. The digital commerce landscape has expanded to new swift shopping avenues. Now shoppers can make a purchase while scrolling through their social media or just buy an item from a sponsored Live stream. The Omni Channel Shopping is the way forward for brands and sellers. Live Commerce is one such hot avenue attracting new shoppers and influencing brands to go Live with their products. Wondering what next for eCommerce Industry and brands? Let’s dig deep into Live commerce segments and Trends to find out the answers. Buy Live! Tune in to Live Commerce The first question comes that strikes the mind is – “How Live commerce is different from traditional eCommerce?” First, itLive. Second, itmore than just social commerce. It gives a Live view of the product to the shoppers. Live commerce involves the use of live-streaming videos to sell products in real time. Not like those teleshopping shows bugging you to call and buy again and again. Itthe influencer marketing and promoting the product Live with an option to buy now. This can be done through a variety of platforms, including social media, eCommerce websites, and dedicated live commerce platforms. The basic idea is to create an interactive shopping experience that allows consumers to engage with brands and products Live. The Rise of Shopatainment The immersive shopping experience provided by Live Commerce allows brands to engage at a deeper level with users. The charm of influencers and interactive shopping experiences makes it entertaining for digital natives and a new generation. According to a recent report by RedSeer, the Gross Merchandise Value (GMV) of items sold on Live Commerce mediums via short videos is all set to rise up to $5 billion by 2025 in India. A new shopping avenue – The retailers are also moving swiftly towards Live eCommerce not expecting massive sales but to enhance user engagement and boost sponsored product visibility. The delivery style of the influencers connects with the user and makes it a more personal experience. It gives shoppers certainly more than the product description. All they need to do is trust what they see and click on the buy now button. Brands and retailers are coming together for such Live Commerce sessions. A prominent brand like SUGAR Cosmetics participated in Myntralive commerce session and did another one with Nykaa, the beauty product portal to boost their product visibility and sale by featuring in this growing shopping avenue. The results were promising. Fashion products are expected to contribute 60-70% in Live commerce growth in GMV followed by the Beauty & Personal Care segment and others making up 30-40%. Even the automotive giants are also not far behind. On Flipkart hosted Live commerce event, Automaker companies like Ampere, BGauss, Bounce, and Hero showcased their wide range of electric and petrol 2-wheelers. Hero MotoCorp’s Hero XTreme 160R Stealth 2.0 was launched via Live Commerce and witnessed a viewership of more than 2.6 lakh people. The adoption of Live commerce is significant as 65% of shoppers on these Live streams are from tier-2 cities and beyond. The new shoppers are making their presence felt in this growing segment of omnichannel digital commerce. Amazon India also launched its live commerce feature ‘Amazon Live’ with over 150 content creators to cash in on the festive season. The reason for such traction is quite simple Live commerce reduces the friction for the less digital savvy new users who find it easy this way to consume content and make shopping decisions. Key aspects of Live Commerce Ability to Build Trust with Customers – One of the key benefits of live commerce is the ability to build trust with customers. Live video allows consumers to see the products in action and get a better sense of what they are buying. This can help overcome some of the skepticism and uncertainty many people feel when shopping online. Create a Sense of Urgency – Another benefit of live commerce is the ability to create a sense of urgency. By broadcasting live, retailers can create a feeling of exclusivity and scarcity, which can encourage consumers to make a purchase on the spot. This can be particularly effective for limited-edition or time-sensitive products. Live Commerce trends are gaining traction as consumers look for more engaging and interactive ways to shop online. The Future of Live and Social Commerce The future of Live and social commerce is bright, as both trends continue to gain momentum in the eCommerce industry. In the coming years, we can expect to see more retailers embracing these new ways of selling products, and more consumers embracing the convenience and interactivity of live and social commerce. Augmented and Virtual Reality – One of the key areas of growth for live and social commerce is in the use of augmented and virtual reality. These technologies allow consumers to see and interact with products in a more immersive way, which can help to drive sales and create a more engaging shopping experience. For example, a customer could use an AR app to try on clothes or see how furniture would look in their home, before making a purchase. Artificial intelligence and Machine Learning – Another area of growth for live and social commerce is the use of artificial intelligence and machine learning. These technologies can help retailers to personalize the shopping experience, by providing tailored recommendations and offers based on a consumer browsing and purchasing history. This can help to increase engagement and drive sales, while also improving the overall customer experience. Final Thoughts Live and social commerce are two exciting trends that are changing the way we shop online. These new forms of eCommerce offer a more engaging, interactive, and personalized shopping experience, and are likely to continue to grow in popularity in the coming years. As retailers continue to innovate and experiment with new technologies, brands can expect to see even

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marketplaces

What the Future Holds for Retail Media And Marketplaces

Leave a Comment / Blog, Digital Shelf Analytics /

let’s begin with the burning questions – Why there is so much buzz about retail media now and why retail media is so important? The answer is not that complex. Simply put– the rapid growth in online shopping and the need of personalized customer experience has directed more focus on optimizing retail media. More than 33.3% percent of the world’s close to 2.64 billion people shop online. This leads to more shopping and the need for more digital advertising. Retail media is the actual advertising placed on a retailer’s media network. The impending demise of 3rd party cookies has drawn marketeers’ interest toward first-party data with the retailers to place targeted ads and boost customer engagement. This is fuelling the rise of Retail Media Networks (MNOs) and a treasure trove of first-party shopper data. Giants like Amazon have their marketing services. But is this enough for brands? Let’s dive deep to know why Ecommerce Marketing Services and brands need optimization and what the future holds for retail media. Grab the customer’s attention at the right moment with Retail media In the new age of online retail media, when the average attention span of consumers is shrinking. Getting your product noticed among fierce competition becomes critical. Brands need to Strike the right moment and the right place to instantly grab customers’ attention. Retail media is a form of advertising that intend to capture consumers’ attention at the moment when they’re nearly ready to make a purchase or close to the point in the customer journey. The decision phase is where they pick the product among its competitors. Online, retail media is far more sophisticated than what we see at the grocery store. The insights on online retail media help brands understand consumer behavior, product segments, and trends in a better way. This will enable brands to deliver more impactful messages to the customers and optimize performance at multiple touchpoints across the customer journey. Retail media can be used for a variety of purposes, which include Product Promotion: Retail media allows brands to promote their products directly to customers while they are shopping online. This can include displaying product ads, providing product recommendations, and offering deals and discounts. Awareness: Retail media can be used to increase brand awareness by displaying ads to a retailer’s audience and customer base. Customer Acquisition: Retail media can help brands acquire new customers by targeting their ads to specific audiences, such as those who have recently shown interest in similar products. Customer Retargeting: Retail media can be used to retarget customers who have previously interacted with a brand’s products or website, reminding them of products they have shown interest in and encouraging them to make a purchase. Overall, the use of retail media can help brands increase sales, improve the customer experience, and gain valuable insights into their customers’ behavior and preferences. Retailers offer digital ads on their eCommerce websites, apps, and on retailers’ sites to boost product visibility to the relevant audience. Bain co report estimates that the retail media market will grow by 25% per year to over $100 billion in the next five years and will account for over 25% of total digital media spending by 2026 which implies how massive the retail media could be in near future. Perks of Retail Media For growing brands, digital retail media offers several potential benefits. Through targeted placements, brands can leverage the existing online presence of larger retailers to gain new visibility and connect with highly relevant consumers who are actively looking for products to purchase. There are several benefits of eCommerce retail media: Additional Revenue: Retail media allows retailers to generate additional revenue by selling advertising space to brands. Targeted Advertising: Retail media enables brands to reach highly targeted audiences, based on data such as browsing and purchase history. Improved Customer Experience: Retail media can enhance the customer experience by presenting relevant and personalized ads to customers, leading to higher engagement and conversions. Increased Brand Awareness: Retail media can help brands increase their visibility and reach new customers, as well as reinforce brand messaging to existing customers. Better Data Insights: Retail media provides valuable data insights to both retailers and brands, enabling them to better understand their customers and optimize their marketing strategies. But brands need more than that to edge ahead in the competitive digital commerce landscape. Plugging in digital commerce intelligence will provide deep insights into what your product needs to be more visible and what it needs to be more visible. The Retail Media Trends Shaping Digital Commerce First-Party Data is Gold In the Cookie less future, brands will reduce their reliance on third-party data. First-party data emerging as a vital tool for advertisers to provide personalized customer experiences. Retail media networks help brands access a huge volume of first-party data on customers’ search, browsing, and purchasing habits. But still, brands need a digital commerce intelligence solution to optimize the retail media based on valuable actionable insights. Machine Learning Powers Retail Media Success Artificial intelligence and machine learning ameliorate brand performance and guide advertisers/brands to optimize their campaigns for specific metrics and enhance retail media. The targeted click-through rate (CTR) or return on investment (ROI), can be achieved with data-backed decision-making and effective retail media advertising campaigns. Comprehensive competitive analysis and machine-learning capabilities will play a wider role in the growth of retail media networks in 2023 and beyond. Retail Media Strategies Will Focus on Diversification The diversification in retail media targets will help companies from being overly reliant on a single source to distribute their efforts across a variety of ad formats, audience segments, and target markets, depending on each provider’s specialty. Advertisers are expanding their retail media efforts into new technologies like connected TV (CTV). Video Will Take Over Retail Media Ad Placements As more online retail marketplaces are developing their own retail media Network platforms, placements like sponsored products and sponsored searches have become the norm. To edge out the competition in the competitive digital commerce landscape advertisers need to turn to more engaging formats like rich media and video ads. The dynamic nature

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data-clean-rooms

Data Clean Rooms: The Key to Ethical and Efficient Advertising

Leave a Comment / Blog, Digital Advertising /

Third-party cookies have been the key for marketers to track individuals online and understand their preferences. This enabled the advertisers to run personalized ads and do accurate targeting. However, things are going to drastically change in the digital ecosystem by the end of 2023. Apple’s browser Safari and Mozilla’s Firefox have already done away with third-party cookies. Google has now announced its final decision to shut the doors for third-party cookies. Marketers are looking at alternatives to overcome this problem, and one of the prominent solutions that have emerged happens to be data clean rooms. What are Data Clean Rooms? Data clean rooms are software pieces that facilitate brands to run targeted digital advertising campaigns, cap the frequencies, measure campaign performances, and generate reports in a secure and user-friendly manner. This is done by uploading the brand’s first-party data and comparing it to the aggregated data in the data clean room. This includes data added by other companies. Users can access data in a data clean room, but none of the first-party or user-level information is shared with anyone outside the data clean room. Data clean rooms provide various services such as audience segmentation and overlap analysis, and they can facilitate measurement and attribution research of the campaigns without sharing any individually identifiable data. With data clean rooms, brands can access data for a wide range of tasks wherein the privacy rules are defined and implemented by the clean room provider. The data uploaded to a clean room is fully encrypted and anonymized throughout onboarding and audience building. With cookies going out, we are witnessing the rise of various data clean room providers. However, just like any other emerging technology, data clean rooms also have certain pros, cons, and risks associated with them. Let’s take a look: Pros of using data clean rooms Data clean rooms are privacy-friendly, and companies can use them to analyze their target audiences, ad targeting, and evaluation of campaign performance. Despite the user-level data being added to the data clean room, it is protected from exposure to other companies. Companies can get complete visibility of the campaign performance across different channels on some clean data rooms. The data that collaborating businesses add to a data clean room remains completely under their control, and not shared with any other users. Cons of using data clean rooms The data is not ID-based but aggregated. Hence it affects the precision of ad targeting. Before uploading the data to any data clean room, users need to standardize it in a single format to get visibility of the same. First-party and transactional data is gold for businesses and many enterprises might be reluctant to share it. Thus, it would adversely affect the outcomes and the functions that companies seek from a data clean room. There are data clean rooms specific to large platforms such as Google and Facebook. This would make advertisers manually compile and collate data from the different data clean rooms to get the complete picture. The data clean rooms don’t yet have any global standards or operational uniformity as they are only an evolving technology. Risks of using data clean rooms The first-party data is uploaded to the data clean rooms, and in the eventuality of a data breach, companies can face fines, loss of reputation, and clients. Manual management of data clean rooms can make them prone to errors, and accidentally granting access to people who are not authorized can’t be ruled out. There can also be incorrect queries and the exchange of data in an unsecured environment. There can be variations in the type and quality of data uploaded to a data clean room. For instance, one company might not share all of its customer data, and the other might share all of it. This would lead to unfair and inaccurate data exchange and analysis. Having looked at the pros, cons, and risks, we can still say that data clean rooms are one of the most promising solutions to the challenges faced by digital advertisers especially in a programmatic ad scenario in the absence of cookies. However, there are other safer and more convenient options as well. Alternatives to Conventional Data Clean rooms Contextual advertising is one of the most prominent alternatives to data clean rooms. Conventionally, cookies have been used to track and analyze user behavior and target advertising accordingly. However, with the GDPR and other privacy laws and concerns leading to a cookie-free digital world, contextual advertising can help marketers by working as a privacy-friendly source of data collection that is accurate, but non-invasive. It allows targeting of the audience through the context of a web page. For instance, a user visiting a fashion and lifestyle website would be shown products in those categories, and another browsing book will get ads related to books. This contextual approach to advertising ensures that the ad budget is spent more accurately as only the relevant people will be targeted. Unlike cookie-based behavioral targeting, businesses require fewer data and tools or technology for execution. AI systems can make trend and insights-based predictions that help in choosing the right channels and web platforms to advertise on. Contextual advertising also leads to greater personalization as consumers are likely to see ads relevant only to what they are currently looking for. 64% of the customers value the relevance of advertising, and it can lead to greater customer engagement and loyalty. Moreover, contextual advertising is more real-time as it is based on the current actions of a user, and not on the documented habits. For instance, someone might have been buying a lot of books and playing games during remote working or lockdowns, but with offices reopening the current preferences might be more about eating out or shopping from physical stores instead of online stores. Contextual advertising can help out with such information. Towards Transparency & Data Sanity Whether the advertisers go ahead with data clean room or contextual advertising, the key to digital growth in 2023 will be gaining efficiency with data

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The heart of the matter: Strategies to increase Valentine’s day sales!

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Wait Wait…. It’s not just another article on sale week and it’s not about flowers and teddys. So, what’s different about it? Here we are to give brands a peak into what they can do to make some serious sales on Valentine’s Day. It’s not just an occasion for chocolates and gifting brands to acquire new customers. It’s time for brands across industries to connect with the young generation. Let’s drown in the ocean of customer sentiments to find pearls to shine sales. Valentine’s Day Beyond Chocolates and Teddies No offense to the gifting eCom industry – It is indeed their time to peak sales, but we are here to look at how other products flourish during Valentine’s week. Spending close to Valentine’s Day bumps up as the week brings in new customers looking to buy beyond gift items, but the gift items are not just limited to chocolates and common gift items. On the world’s largest e-marketplace, Amazon bands are pushing to connect with the young generation. A connection that will benefit them in the long run establishing a brand for the youth. Offers like “sound of love” on Amazon featuring brands like JBL, Bose, etc. are what attract new customers who are not just looking for roses. Brands need to up their game in product categories that are more searched on this day but also push products that connect with the demographics. The day has quite a significant and revenue-driving force in all essential sectors. Be Available to Witness The Shower of Love on e-commerce Platforms Time to dress for the occasion with the insignia of Love. The Fashion eCom lit up in the season of love with special combos and clothing to help couples dress up for the occasion. Clothing and accessories flood the eCom market. But brands and sellers on eCom platforms need to boost their product discoverability first to boost sales among the cutthroat competition. Be it Valentine’s Day or any other sale week brands need to be on top of sale trends and competitors’ pricing and discount offers to become the top pick. Brands need to optimize their Product display page content, set banners at the right spot to boost visibility and know the right price to be the top pick. The biggest factor that can help brands boost revenue during Valentine’s week is being able to meet the demand on the day. Brands need to ensure their product availability across the eCommerce platform. Can’t Buy Love But Can Buy For Love You can groove to the Beatles ‘Can’t Buy Me Love’ on the V-day but you should buy something for your Love to keep that intact. Americans plan to do exactly that as does the rest of the world. According to a report on Valentine’s Day 2023, the United States is all set to spend $25.9 billion. The National Retail Federation survey predicted sales to be around $2 billion higher than the previous year. Things To Do For Brands – Equip Well For V-day Sale and Beyond What can brands do? Simple just ride the sale wave – make your products stand out during this week and beyond. Yes, you read it right ‘beyond’ like love eCommerce game is not just T20 brands need to be an all-format player to edge ahead of your competition. Gear up with the right tools to go the extra mile and score big. Here are some things brands could do on a sale week across e-commerce platforms and even on Social Commerce space Refine your content to boost product visibility Know your customer sentiment Target the right demographics Target Tier 2, and 3 cities to acquire new customers Track competitors across product categories and sub-categories on eCommerce platforms Ensure product availability across geographies on eCommerce platforms Optimize delivery time Ensure sellers do not go overboard and violate the threshold price Brands need to optimize customer experience to acquire new customers and build on by tracking customer feedback. Final Thought – Pluck The Rose But Beware of Thorns Brands need to be careful when to target these sale events. Strategies need to be based on insight and comprehensive competitive analysis to shine through with a boost in revenue. Know your customers and competition to edge ahead. Gear up with mScanIt, an Ecommerce Intelligence to get deep actionable insights across KPIs (Key Performance Indicators). Start tracking your competition and your product performance across platforms. The race is heating up to grab shoppers’ attention. Dress to impress and make shoppers fall in love with your products. Get in touch with our experts for deeper insights. Reach out to learn more!

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MAP Violations: Roadmap to Prevent Pricing Violations

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Summary According to a study, 50% of the time unauthorized sellers violate Minimum Advertised Price (MAP) policies. MAP violations hamper the brand reputation and dent the profit margin. Brands need to be aware of pricing on every product listing across the eCommerce marketplaces. Tracking MAP violations is the right way forward to build brand trust & loyalty. Why do brands need MAP policies? The pandemic has pushed the boundaries for digital commerce and accelerated its adoption. The wave of evolution in the digital ecosystem has opened doors to enormous growth opportunities. But with great opportunity comes great challenges. Brands need a set of ground rules or policies in place to maintain their brand reputation. The Indian digital ecosystem has been on the flyer with high demand for a convenient and seamless shopping experience. In a race to provide lucrative discounts, brands must ensure they do not lose out on brand reputation and value. Brands need to set a threshold value for Advertised Selling Price (ASP) and track any violations on the minimum advertised price (MAP). According to a study conducted by Harvard Business Review on manufacturers, unauthorized sellers violate Minimum Advertised Price (MAP) policies 50% of the time, while authorized sellers do that 20% of the time. Of course, this is in the US scenario, but the fact is quite relevant in the global digital ecosystem and the Indian eCommerce market as well. How can a brand prevent MAP violations? The growing demand has led to a rapid rise in the number of 3rd party marketplaces online. Now, products are being sold by multiple sellers and resellers across the digital commerce ecosystem. This makes it essential to formulate MAP policies. The Map violations not only hamper the brand reputation but also dent the profit margin. Brands need to be aware of pricing on every product listing across the eCommerce marketplaces. MAP Policy – A must For Brands in Today’s Digital Ecosystem. MAP or Minimum Advertised Pricing policies are set forth by the manufacturer or brand to set the lowest price point for sellers to advertise the product. Sellers can only advertise on the price set via an agreement between manufacturers and distributors. MAP policies safeguard brand interest and reputation creating a perfect price perception across the digital ecosystem. What are the Benefits of monitoring MAP violations? Brands need to show alacrity and turn towards technology to track pricing and discount violations. The key challenge is monitoring the massive range of products on multiple eCommerce marketplaces. The diversion from the set threshold could be monitored if every listing on the eCommerce marketplace is tracked. Tracking at what price sellers are advertising the product will help brands identify and act upon any pricing violation across their product listings. Switch to Digital commerce intelligence systems to analyze products on multiple KPIs and provide actionable insight to act upon brands to enhance product performance and optimize the customer experience. Track the performance of sellers across platforms and pin codes. The tracking pricing and discount violations will maintain the brand reputation in terms of pricing & discount offered across the digital commerce ecosystem. How to effectively enforce Minimum Advertised Price? Even the thought of monitoring MAP compliance manually is out of context in the ever-evolving digital ecosystem. Every brand with an extensive online presence needs comprehensive MAP policies and a data-driven system to enforce MAP violations. The ecommerce competitive analysis with price monitoring across listed product categories and sub-categories on eCommerce platforms can ease the burden of brands by tracking non-compliance and identifying authorized sellers. Brands enlist numerous sellers who advertise and sell their products online. The widely distributed scale of products means there is more need for monitoring MAP violations across all online channels. A comprehensive system deployed to prevent MAP violations will protect the brand Image and save the profit margin of loyal authorized sellers. The actionable insights on violators will protect the brand interest and allow them to act against non-compliant sellers. Final Thoughts Tracking MAP violations is of utmost importance to protect brand reputation. Brands need to stay a step ahead of their competitors in this cutthroat competitive digital ecosystem and be equipped with the right tools to optimize the customer journey at multiple touchpoints. mScanIt, an eCommerce intelligence solution via its pricing analysis tool tracks any pricing & discount violations across sellers and geographies along with conducting comprehensive pricing analysis across eCommerce platforms. It Identifies which seller is the outlier in the average price threshold. It also main the violator list for product Original Equipment Manufacturer (OEM) codes across brands, sub-categories, cities, and eCommerce marketplace. As someone rightly said there is no advertisement as powerful as a positive reputation – words travel fast. Plug MAP violations to build brand loyalty and maintain your brand value among retailers and customers. Get in touch with our experts for deeper insights. Reach out to learn more!

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Fashion Industry – Setting new trends in India’s eCommerce Landscape

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The fashion-conscious GenZs and millennials are leading the astronomical rise of Fashion eCom Fashion is like having a meal, you can’t stick to the same menu every time. Fashion eCommerce has revolutionized the segments. The new generation is the driving force behind the dynamic fast-paced industry. The fashion eCommerce Industry has grown beyond expectations with a 59.7% growth in order volume in FY’22 as compared to FY’21. The clothing & accessory brands need to capitalize on the immense growth potential of the fashion industry. In the words of Myntra’s CEO, the contribution of e-commerce to most of the fashion businesses is 10-12 percent. This is expected to grow to 30%, meaning almost a third of fashion in India will be sold online in the next five years. “Fashion e-commerce will become a $30 bn market in India in five years” – Myntra CEO Let’s take a deep dive into how fashion is cementing its position in the Indian eCommerce landscape. Growing from Strength to Strength The Indian Fashion ecommerce market segment was so far dominated by Myntra. It is one of the biggest players that revolutionized the fashion eCommerce space in India. But the rise of AJio and Cliq has spiced up the competition. The marketplaces are backed by mighty conglomerates like Reliance and Tata group respectively. Online Fashion Platforms like AJio and Cliq have made their presence felt and gradually their market share grew in the online space. The battle for consumer attention is getting fierce with sale seasons and regular lucrative offers. Every brand needs to deal their cards strategically. Take swift action on setting pricing and discount based on market trends. Staying on top of pricing and discount trends across platforms and geographies has become essential to slice through the cutthroat competition. Building brand loyalty reaps high reward and ensure customer retention. Indian fashion eCommerce has enough scope for multiple marketplaces to co-exist and continue to grow. The more competitive fashion eCom space will lead to massive growth opportunities. To capture these opportunities, brands need to gear up with the right digital commerce intelligence tool to stay ahead. The Changing Lifestyle with Fashion eCom The new generation lives and breathe Fashion Trends. Yes, you read that right. They not only shop just for occasions but also turn to online marketplaces for their daily clothing needs. The massive clothing and accessories range is available online to attract younger generations. The brands need to be aware of their sales across demographic and set the pricing and availability to match the needs of shoppers suiting their budget bracket. Digital commerce intelligence can help brands understand the need of their consumers and make data-driven decisions. Getting Smarter with Data-driven Digital Commerce Intelligence ‘One size fits all’ is not relevant anymore. Every individual now seeks what suits their own sense of style, occasion, and accessories accordingly. The industry is shaping toward providing a personalized experience and optimizing the customer journey is paramount. The frequently changing online shopping trends set new milestones every month. Digital commerce intelligence keeps brands in tune with what is going on in their domain across the product range, categories, and even sub-categories. Optimization has become essential be it – awareness, consideration & evaluation, or the purchase phase of the customer journey. Brands need to be on their toes to engage new customers across eCommerce platforms. Invest In Technology – Strengthen Your Supply Chain The post-purchase delivery experience of customers is also crucial in the digital ecosystem. As the brands pump huge volumes to meet the demands. Customer satisfaction in product delivery has become imperative. The reward of an enhanced post-delivery experience are good ratings & reviews. Positive customer sentiments result in customer retention, build brand trust, and attract new customers. Good reviews are the most organic way to boost product visibility on the eCommerce marketplace. Brands need to invest in technology to optimize the experience. A comprehensive monitoring system is a must for every brand to strengthen the supply chain. The solution to monitor sales & order tracking, the performance of sellers, and optimize delivery turn-around-time with comprehensive reconciliation is indispensable in such a competitive Fashion eCom segment. The tech-enabled process solutions ensure convenience and transparency in purchase and post-purchase. The reconciliation across multiple warehouses streamlines order processing and leads to operational efficiency in the system. Final Thoughts The fashion and accessories segment generates the maximum order volume share among e-commerce industries. The prospects seem bright for trendsetter fashion eCommerce, and it is expected to keep leading in the coming years with its continuous innovations and technology adoption. The brands need to step up and tap on every touchpoint on the customer journey. Be it setting the right prices, offering discounts, enhancing content to boost visibility, increasing the Share of Shelf, or ensuring availability or post-purchase convenience Brands should be updated on any market trend. mScanIt, the digital intelligence solution, could give brands an edge over the competition. The end-to-end digital commerce intelligence provides real-time actionable insights with a dynamic dashboard. It even takes a step further with tools like Content recommendation which auto-generates content for optimizing product display page (PDP). Technology is the key growth driver for the entire digital commerce ecosystem.

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