Digital commerce intelligence

Quick Commerce

Woes in Quick Commerce: How to Optimize Your Product listings

The rising wave of quick commerce is leading spoiling customers of choices – now the 15 minutes delivery needs are expanding across segments. The quick commerce ecosystem works differently than eCommerce marketplaces where customers spend more time in product consideration & evaluation. Here promos, availability, product bundling & combos, enticing offers on banners what attract shoppers. Here we are going to explore what makes tracking quick commerce performance for brand so essential. The challenges and what they need to catch the pace of quick commerce platform. Hot spot for Last-Minute Needs Quick commerce platforms target the daily needs of shoppers and entice shoppers to turn small ticket purchases into large volume with impulse purchases. It bundles products or categorizes them as per the needs of shoppers like party needs, puja or festive needs, daily groceries, or anything that you need at the last minute. It starts with adding just one item that you need to your cart but ends up adding more items in related categories into the cart.  This turns the low-ticket purchases into a larger shopping bag. It’s more like your neighbourhood grocery store but with product categories and products variants.  Quick Commerce platforms sell at micro level with dark stores. The demand from one region varies from the other that makes availability, product categorizing and product bundling key or brands to monitor. The quick commerce sector in India currently has a market size of $700 million and is likely to grow 8 times to reach a $5.5 billion market value by 2025. The addressable market of this industry is projected to be around $60 billion. | Source: ET Retail The challenges brands face on Quick Commerce platforms   Optimizing Quick commerce Product Listings: The listing on Quick commerce needs to be tagged into to specific categories where shoppers look for with accurate category tag- listings. As quick commerce products do not have extensive product description – brands need to comply with platform-specific guidelines to show the various images of the packet with ingredient details on it. Mastering Pricing Analysis in Quick Commerce: Another core challenge for brands is setting the price and promotional offers This requires apt bundling of the products under the same category. For example, a detergent power paired with 2 soap bars or stain remover liquid. But the catch here is the resellers bundle their product without brands being aware of and damaging brand reputation and product worth. Efficiency of Q-com Banner: Brand must be aware of what shoppers are looking for and ensure that is promoted on the brands ad banner theme for example during Raksha Bandhan a top chocolate brand offering celebration offer and offering high promotional offers during the peak hours of the festive season. Brands must be aware of ad traffic but also the performance and compliance of the banner ad with notification on if it is running on slotted time, visibility of banner, theme and keywords on the banners. How Digital commerce intelligence on quick commerce platforms will lead the way Quick commerce platforms have taken the retail industry by storm, revolutionizing the way consumers shop for everyday goods. Brands are realizing the immense potential in this space and are actively looking to optimize every step of the customer journey. Brands need to optimize very step of customer journey across quick commerce platforms to edge ahead. Real-Time Stock Availability Alerts One of the crucial aspects of quick commerce is ensuring that products are available when customers want them. Real-time stock availability alerts can help brands keep track of inventory levels across various outlets. When an item goes out of stock, the system can instantly trigger alerts to replenish the inventory. This ensures that customers are not disappointed due to stockouts, enhancing their overall shopping experience. Enhance Share of Search with Title Keywords In the digital realm, visibility is key. Brands must optimize their product listings with relevant title keywords to improve their share of search. When customers search for products, having the right keywords in product titles can boost your products’ chances of being discovered. Digital commerce intelligence tools can help identify the most relevant and high-impact keywords for your products, increasing your visibility on quick commerce platforms. Optimize Banner Performance Banners play a significant role in attracting and engaging customers on quick commerce platforms. Brands should continuously optimize banner performance by focusing on images, themes, and keywords. Digital commerce intelligence tools can provide insights into which banners are performing well and which need improvement. By analysing customer interactions and click-through rates, brands can fine-tune their banners to drive more conversions. Track Pricing & Promo Trends Pricing and promotions are crucial factors that influence customer buying decisions. Brands must closely monitor pricing and discount trends in the quick commerce space. Digital commerce intelligence can help track competitor pricing strategies and identify opportunities to offer competitive prices or attractive promotions. Staying ahead of pricing trends can give brands a significant advantage in the market. Opportunities in Quick commerce What seems like a turbulent time for Indian Quick commerce platforms turned upside down with hefty investment into Zepto and it became the first unicorn of 2023. Zepto, a grocery delivery company, secured a massive $200 million in fresh funds and were valued at a whopping $1.4 billion. On the other hand, Q1 FY24 of Zomato-owned Blink It made 384 crore revenue over 2140 Crore Gross Order Value with reduced EBITDA for the quarter. The platforms are looking to be innovative and investing in dark stores with more focus on swift delivery and a larger assortment. This is the perfect time for brands to focus on Quick commerce and overcome the optimization hurdles with digital commerce intelligence. Final Thoughts Quick commerce is reshaping the way consumers shop, and brands need to adapt to this evolving landscape. The competition across quick commerce platforms is growing with more choices for the shoppers across categories. The competitive landscape requires swift monitoring of product performances versus competition and data-driven decision strategies. By keeping track of stock availability, enhancing share of search, optimizing banner performance, and

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Sale

Be Sale-Ready: Stock it up to score big on the Black Friday & Diwali Season Sale

Is it too early to talk about it? Is It? Not Really! Time is running out! To a shopper, it may seem like a couple of days of sale but for brands the preparation begins at least a month early, we have already entered the festive season followed by a mega season sale on Amazon, Flipkart, and Myntra building up to the Diwali Weekend. Every brand must be aware of who, when, and where to target and what their competitors are up to. The path to score big on sale event season is not easy. Black Friday sales globally broke records in 2022, shoppers in India increased their orders by 65 percent as compared to 2021 and their spending by 64 percent during the sale week compared to the usual period. And new milestones are expected to be set in 2024. So, what are we waiting for let’s dive deeper to understand the challenges on event days and how brands can make optimal use of these opportunities during the sales season and beyond. Identify the event days to target Every eCommerce platform has different reach and preferences. Knowing where you more picked up and where you need to target is key to optimizing your marketing strategies. Event days like Black Friday and Diwali sales witness a rapid increase in order volume. Brands need to identify the gaps in the market during these event days and target ads & promo offers to reach new shoppers. Every platform has different shopping patterns and different event days, therefore brands need to keep up with platform-specific requirements. Every year consumer activity is dispersed more evenly throughout the sale period and is less focused on just Friday. A lot of companies extended the sale period to include the days leading up to and following Black Friday till the following Monday known as Cyber Monday. Even Indian festive season sale runs before the Diwali week with product expected to be delivered before Diwali. Shoppers are always eager to take advantage of the limited-time deals, which results in a higher number of orders within a short period. Brands need to ensure their systems can handle the increased load and that their logistics are well-equipped to manage such a surge in orders. Amazon Great Indian Festival 2023 witnessed a record 9.5 crore customer visits within the first 48 hours. 80 percent of the shoppers were from non-metro cities. Source: Amazon India Match product demand with Order Fulfilment One of the critical aspects of these event days is ensuring efficient order fulfillment. Brands need to ensure that they have enough stock available in their warehouses to meet the increased demand during the sales period. Having the right amount of inventory is crucial to avoid stock-outs and ensure customer satisfaction. Also maintaining a well-stocked warehouse is essential to cater to the surge in orders during these events. Brands need to anticipate the demand and stock their warehouses accordingly to prevent any inventory shortages. Keep Track of In-stock and out-of-stock items: Brands must keep real-time track of their stock status, in-stock product availability tracking, and monitoring when & where the products are going out of stock. The stock situation is key during the festive season. Brands must keep track of the trends to set promo offers and match stock to meet expected demand. Monitor Price & Promos trends: Brands must be aware of key trends across marketplaces and what competitor brands are targeting. For example – In 2022, low ticket purchases and demand for unbranded fashion products from Tier-II towns and beyond propelled Meesho ahead of Amazon in terms of order volume (Source: Redseer Report), but Amazon sold items of higher values during the same period with massive rise in numbers. Flipkart and Amazon together clocked 88% of $5.7 Billion GMV during the first week of the festive season. With strong positioning in the fashion segment, the likes of Myntra and AJIO earned good numbers. Finding the right balance between pricing and volume is crucial. Offering attractive discounts and deals can drive higher sales volumes, but brands need to ensure that they don’t compromise their profitability. Strategic pricing strategies can help achieve this balance. Keep Track of Industry Trends The success of these event days often relies on the performance of specific product categories. In this context, mobile phones have consistently been a leading product category during festive season sales. They attract a significant share of the Gross Merchandise Volume (GMV), indicating strong demand. The fashion segment also plays a substantial role in driving sales, appealing to shoppers looking for clothing, accessories, and related products. For example, in the consumer durables industry, products like electronics and appliances see increased demand during these events. Similarly, the gifting industry, which includes items like cookies and chocolates, experiences a boost in sales as people often buy gifts for their loved ones during festive seasons. Optimize Sponsored Banner (Season specific): eCommerce ad banner performance is key to upswing sales during the festive season. Brands must keep track of banner keyword performance, display targeting, and category targeting. Using season-specific banners and advertisements helps brands grab the attention of shoppers who are actively looking for deals during these events. Ensure your banner theme and keywords are compelling and drive more traffic to their online stores. Final Thoughts The eCommerce event days open new opportunities for brands to boost their sales and engage with customers. This is the moment when brands also extend their reach and are able to attract new shoppers. Identifying gaps in competitors and taking timely advantages is key to excel in the competitive landscape. Also, strengthen your strategies with a data-driven approach. Business intelligence gives brands a much-needed edge during aggressive shopping bonanzas. Proper planning, inventory management, effective pricing strategies, and appealing marketing campaigns are essential to making the most out of these opportunities. mScanIt, digital commerce intelligence can pave the road map to navigate through the challenges of season sales and beyond. Actionable insights and in-depth analysis on PIs (Key Performance Indicators), availability, pricing, keywords share, Product detail

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Customer Experience (CX) Digital Commerce En Route to Optimize the Customer Journey

Customer Experience (CX): Digital Commerce En Route to Optimize the Customer Journey

Businesses that enhanced customer experience has improved cross-selling and up-selling (42%), enhanced customer retention (33%), and increased customer satisfaction (32%). The pathway to digital commerce’s success involves an enhanced customer experience. Brands must equip well to push the bar across customer touchpoints to make the journey from generating interest to the purchase & post-purchase phase. According to Forbes, Businesses that prioritize enhancing customer experience observe an 80% increase in revenue. Let’s dive deeper to understand what customer experience is and why it is so much important What is Customer Experience (CX)? Customer Experience (CX) is simply how your customer feels about your product and services. The key here is the touch point at which the brand interacts with the customer during the customer journey. The touchpoints, or moments of interaction, during the customer journey play a crucial role in shaping this experience. So how does it work? The idea is to make sure when a customer checks out your product there should be no doubt left as all his questions should be clearly answered in the product description itself, and the title should contain the keyword that attracts the shopper in the first place, quality images, and pricing to suit your targeted shopper. Once a purchase is made brands must keep track of delivery turnaround time and sellers’ performance to check up on customer satisfaction. The rating & reviews provide brands clear perspective into what customer thinks about their product and services. Brands need in-depth sentiment analysis of these reviews and ratings along to help their various department improve product quality and services. How does optimizing the customer Journey help enhance customer experience? The customer experience is subjective to how shoppers have come across your product, how the consideration phase went and how seamless was the purchase. Customer experience plays a role in converting initial attraction into consideration and consideration into purchase. Brands must be aware of what attracted shoppers to their products. Did the shopper get what he hoped for? Was the description of the product, and pricing satisfied the user? Was it good enough to convert a consideration into an instant buy? Did the delivery time suit the shopper’s needs? And how much impact does the rating and review have on the shopper? Brands must have insights into these factors to optimize the customer experience. A good customer experience not only boosts sales but also builds brand trust and loyalty leading to customer retention as brand advocacy. Here are some key touch points in the customer journey which impact customer experience Awareness Phase During the awareness phase, the challenge is to make sure your product is among the top search results. That makes bidding on the right keywords and understanding when to bid and when not to bid on keywords crucial loss as it not only. As it not only affects ROAS but also affects brand discoverability share. During this phase, brands must focus on Enhancing share of search on keywords Generating interest in your products Optimizing banners performance Monitoring competition on keywords bidding Optimizing customer experience during this phase requires brands to work on generating the interest of potential customers in the products. This can be done by making products discoverable through keyword searches, sponsored listings, and banners. Their interest in your products is piqued, making this phase critical for leaving a lasting impression. The customer experience here plays a vital role if you fail to impress the shoppers at first look with the title, and images then it leads to customers looking for other similar options among competition brands. Consideration & Evaluation Phase Once you attract shoppers to your product detail page, it is all about delivering an experience that converts that interest into a purchase. Shoppers evaluate product details if not satisfied ask questions, check out ratings & reviews, and ponder on pricing and delivery date to drive purchase decisions. Clicking on “add to cart” or proceeding to the purchase phase depends on a positive customer experience. Here are some key touch points in the consideration phase: Evaluating the product by going through the PDP description Ask questions while considering Compare pricing Check on delivery time Click on add to cart or click on the buy box Purchase & Post-Purchase Phase The final stage involves sales Tracking & reconciliation. A customer purchase experience builds brand loyalty and encourages word of mouth building brand reputation. According to PwC Survey, 73% of customers believe that customer experience significantly influences their purchasing decisions while a remarkable 86% of customers are willing to pay more if it results in a better customer experience. The customer experience is not just limited to how the purchase process went for the shopper, but it goes beyond that as it is the difference between creating a one-time customer or has built a recurring loyal customer satisfied with the experience, who gets inclined to leave a good review and advocate your brand. For example, says a customer bought some ‘baby care’ product and found that product quite effective for new parents. Leaves a review like ‘it’s a wonderful product that helps calm many my baby’. What does that do for new customers? Proves what the brand claims, assure them they are making the right buy even if the product seems a bit expensive but add value and feel good & satisfied when they make a purchase. That sort of positive impact customer experience can have on your brand even a negative review opens the opportunity for the brand to humbly acknowledge the gaps in the product and improve upon it. For example, a leading RO manufacturing brand replied to their unsatisfied customers, reached out to them, rectified to issue they were facing, and asked to update the review and rating. This kind of approach build a good repute among customers and propagate the good word. Opportunity for Brands Indian mass consumers, with an annual income ranging from ₹ 2.5-10 lakhs, are projected to be a driving force behind eCommerce growth. Enhancing customer experience can prove to

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map-violations

eCommerce Seller Monitoring: Save Your Brand from Domino Effect of MAP Violations

Identification of MAP (Minimum Advertised Price) violators in real-time is critical for brands as it could damage brand reputation and product worth beyond repair in a quick time. The path to success on eCommerce marketplaces depends upon your choice of sellers and their performance. Monitoring Seller performance gives brands a much-needed edge in the competitive digital commerce landscape. The brands selling through re-sellers need to be well aware of their performance as it directly reflects upon a brand image. Let delve deeper to understand why brands need to build their strategies with insights on sellers’ performance, need to track MAP violations, and how it affects brand reputation and product worth on eCommerce marketplaces. Are you aware of at what price your product is sold? Consider a scenario – India top water purifier manufacturing company is selling its RO via authorized seller X at ₹16,400 while another seller Y is selling it at ₹12,900 while the brand has set the Threshold price of ₹14,500. The offer is enticing for shoppers but how will it impact your brand? Prompt other sellers to lower the price Leads to a domino effect on pricing and ultimately reduces the actual worth of the product Lose the trust of shoppers due to such price variation across sellers on a marketplace It affects your distribution channel To combat such a scenario brand, need to track pricing across pin codes and platforms with seller-level analysis. These scenarios are known as MAP (Minimum Advertised Price) Violations or Pricing Violations. A Similar scenario takes place when a seller offers more discount than the brand’s threshold discount known as Discount Violations. Identification of MAP violators in real-time is critical for a brand as it could damage brand reputation and product worth beyond repair in quick time. Save Your Brands from the Domino Effect of MAP Violations The “Domino effect of MAP (Minimum Advertised Price) Violations” refers to the potential negative consequences that can occur for a brand if MAP violations are not effectively managed and controlled. When one seller violates the MAP policy by advertising a product below the set minimum price, it can trigger a chain reaction of other sellers following suit, leading to a price war. This can ultimately lead to price erosion, degrade brand value, product worth and reduce profit margins. To prevent the domino effect of MAP violations and protect their brand, companies can take several proactive measures: Product Pricing Tracking: Brands should continuously monitor product prices across various eCommerce marketplaces and geographical regions. By doing so, they can identify sellers who are not adhering to the MAP policy and take appropriate action. Awareness of Violations: Brands need to stay vigilant and promptly identify any MAP violations. Timely awareness allows them to address the issue before it escalates and impacts their brand reputation. Strengthening MAP Policies: Companies should regularly review and update their MAP policies to ensure they are clear, comprehensive, and enforceable. By setting strict guidelines and penalties for violations, brands can deter sellers from engaging in price-cutting strategies. Enforcement: Once a MAP violation is detected, it’s essential for the brand to take swift and decisive action against the non-compliant sellers. This could involve warnings, temporary suspensions, or even terminating partnerships with repeat offenders. By enforcing the policy consistently, the brand demonstrates its commitment to maintaining fair pricing and protecting its image. Identifying Sellers with High and Low ASPs: Apart from focusing solely on MAP violations, brands should also analyse and categorize sellers based on their Average Selling Prices (ASPs). Sellers with significantly high ASPs may indicate potential unauthorized resellers, while those with extremely low ASPs might be engaging in MAP violations. Identifying and addressing such sellers helps in better controlling pricing and brand representation in the market. Establishing Authorized Reseller Programs: Implementing an authorized reseller program can help brands maintain better control over the distribution of their products. By designating specific authorized sellers, brands can ensure that their products are sold through reliable and trustworthy channels, reducing the likelihood of MAP violations. Monitoring and Reporting Tools: Brands can leverage technology and automated tools to monitor online marketplaces, flag potential MAP violations, and generate detailed reports on seller pricing trends. This data-driven approach can provide valuable insights for decision-making and identifying patterns of non-compliance. By taking a proactive and comprehensive approach to MAP policy management, brands can mitigate the risk of the domino effect of MAP violations. This not only protects their brand equity and pricing integrity but also fosters stronger relationships with authorized sellers and customers. Why do brands need to monitor seller performance on e-commerce marketplaces? Brands need to monitor sellers’ performance on eCommerce marketplaces for several important reasons: Brand Reputation Management: The performance of sellers directly impacts the perception of the brand. If customers have a negative experience with a seller, they are likely to associate that negative experience with the brand itself. Monitoring seller performance allows brands to maintain their reputation and ensure that customers have a positive buying experience. Quality Control: Brands often have specific standards and quality requirements for their products. Monitoring seller performance helps ensure that these standards are met consistently, maintaining product quality and customer satisfaction. Customer Experience: Brands want to provide a seamless and positive customer experience across all channels. By monitoring sellers, they can identify and address any issues that might arise, regarding delivery time, customer experience, or product information. Competitive Advantage: Brands usually have multiple sellers selling their products on various eCommerce platforms. By monitoring seller performance, brands can identify high-performing sellers and collaborate more closely with them to gain a competitive advantage. Sales Performance: Monitoring sellers allows brands to track the sales performance of their products and identify trends and opportunities for growth. This data can be used to make informed decisions regarding inventory management, marketing strategies, and expanding product reach. Monitoring the Seller Buy Box Win %: Brands must monitor the Seller Buy Box Win % to ensure marketplace dominance and maintain control over product visibility. This metric reflects which sellers consistently win the Buy Box, impacting

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mirage-in-the desert-of-digital-advertising

A Mirage in The Desert of Digital Advertising: Will You Find Your Way?

Imagine strolling through a desert, thirsty for genuine leads and conversions. Suddenly, an oasis appears—a multitude of clicks, installs, and engagements. It seems like your marketing efforts are paying off, but is this mirage too good to be true? There are masterminds in the digital ecosystem that are going beyond the thinking capacity of advertisers to steal their money. They are becoming deceptive with their actions and weave a well-planned plot to ensure that the advertisers are unaware of the reality. As a result, the advertiser often believes what they see and continue investing ad spends on these “painted ad campaigns”. Though it gives high traffic, the advertiser’s ROI remains low. But let us throw some light on this cleverly created web of using the case of publisher A. Click Spamming: A Mirage of Good Traffic In the ad traffic mix, advertisers see some good traffic sources directed by publisher A. The advertiser trusts publisher A, and the publisher gets their payout. However, the reality is a bit twisted which advertisers often miss. In reality, the advertiser is paying for its organic traffic. To keep the advertiser in the dark, the publisher uses the technique of click spamming. Using this ad fraud technique, the publisher fires random clicks and steals the last-click attribution of the genuine source which is also known as ‘Organic poaching’. Despite the fraud happening in the background, the advertiser sees “unsuspicious traffic” in their ad campaigns. To make it more believable, the fraudulent publishers also use click spamming to meet hard KPIs like purchases. This leaves the scope of doubt for advertisers and the publishers get their payout. Bot Traffic: Orchestrators of Deception Too good to be true things are often questionable. Therefore, the publisher puts some stale traffic in their basket using bots. They inflate the ad traffic to meet the set standard of bringing high traffic. However, the abnormal patterns of bots/fake devices are recognizable. This keeps the advertiser under the impression that the incoming traffic is not 100% clean. While the advertiser successfully eliminates the invalid traffic with an ad traffic validation partner, the publisher still wins. Incent Traffic: Smokes and Mirrors The above cases were just the tip of the iceberg. After the publisher has successfully moulded the advertiser’s mind by showing both organic and bot-driven traffic, they take the final step of their illusion game. To hit that last pinnacle of trust of the advertiser, they run incentive campaigns. They put the advertiser’s campaign on incentivized platforms in order to meet the soft KPIs. Usually, the click-to-install/action rate is high in incentive campaigns. However, the lifetime value of the user is often low as they install the app to avail the benefits associated with it. Therefore, the quality of traffic is low. How To Come Out of This Mirage? Advertisers can take action against bot traffic with a basic ad traffic validation partner. They can help to evaluate the quality of traffic based on bot-pattern-based analysis. However, these validation partners often fail to detect sophisticated patterns like click spamming and incentive fraud. These fraud techniques impact the quality of events and eventually, skew the analytics of an ad campaign. They create a “good traffic scenario” for the advertiser to stay unaware of the reality behind the smoke screen. Therefore, to combat sophisticated fraud activities, advertisers need an advanced ad fraud solution that is capable of detecting invalid traffic across the funnel and going beyond the traditional methods of ad fraud verification. mFilterIt – Your Mirror of Reality Arm yourself with mFilterIt’s ad traffic validation solution that helps advertisers detect abnormal ad traffic in real-time across the funnel. Using the capabilities of AI, ML, and data science, we provide full-funnel transparency of the ad campaigns for advertisers to make effective business decisions stay clear of the mirage, and see the reality behind this web of deception. Way Towards a Transparent Digital Advertising Ecosystem In the ever-evolving digital landscape, ad fraud remains an ongoing battle for businesses. By demystifying its dark art, recognizing its perpetrators, and embracing innovative defence strategies, you can protect your advertising investments and navigate the digital realm with confidence.

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ecommerce-intelligence

eCommerce Intelligence – Precision Targeting To Extend Brand Reach

Digital Commerce Intelligence also enables brands to provide a personalized shopping experience Data is turning out to be the driving force behind optimizing the customer experience. Brands guided by digital commerce intelligence move swiftly ahead of their competition and gain the competitive edge that drives sales and enriches the shopper’s experience. Let’s dive deep into how precision targeting helps extend the reach of the brand and enables enriched customer experience across multiple touchpoints in the customer journey. The Ball Is In Your Court! It’s up to the brands to explore new possibilities in the eCommerce arena and beyond. The sales channel is not limited to eCommerce platforms the omnichannel expansion across the digital commerce ecosystem has opened up new opportunities to expand and enhance customer experience. All brands need to do is identify these white spaces in business at the right moment and act quickly to score new customers. What do they need? The answer is quite obvious. Insights! Yes, Insights. The actionable insights on competition, marketplaces, changes trends, own SKUs performance, and a lot more. The rule of the game is simple – know every move of your opponent to take your game a notch ahead with a precise data-driven strategy. Leverage eCommerce intelligence for Precision Targeting Precision targeting involves focusing marketing efforts on specific customer segments that are most likely to be interested in a brand’s products. By identifying and understanding the unique characteristics, preferences, and behaviors of these target segments, businesses can tailor their marketing messages and experiences to resonate more effectively. Data-driven strategies: Businesses can utilize customer feedback analysis, market analytics, and competitive analytics to make strategies driven by action insights. By analyzing data, businesses can identify patterns, trends, and customer preferences, enabling them to make informed decisions regarding product offerings, pricing, promotions, and marketing campaigns. Personalization and Customization: eCommerce intelligence enables businesses to deliver personalized experiences to their customers. By understanding individual customer preferences and purchase history, businesses can tailor product recommendations, discounts, and promotions to enhance customer satisfaction and increase conversion rates. Customization goes beyond personalization by allowing customers to customize products according to their preferences. This level of personalization and customization fosters a stronger connection between the brand and its customers. Competitive Advantage: eCommerce intelligence provides businesses with a competitive edge by helping them stay ahead of market trends and competitor strategies. By monitoring competitor pricing, promotions, and customer reviews, businesses can identify areas for improvement and develop strategies to differentiate themselves in the market. eCommerce intelligence allows businesses to identify emerging market trends and consumer preferences, enabling them to adapt their offerings and stay relevant in a rapidly evolving landscape. Strike Hard – Strike First! Make a move, based on the insights you have against your opponents. Identify the weak spots of your opponents across platforms, geographies, and product categories in terms of discoverability, availability, pricing, etc. And strike to acquire new customers. Also, identify your weak areas and plug them in before they get exploited by the competition. Cater Your Products for Your Peeps Understand the dynamics of customer behavior with sentiment analysis to make your shopper feel valued across eCommerce platforms. Brands need to understand what their customers are looking for. Precisely fill up the gap to build an effective product detail page that answers all shoppers’ needs in its title, description, Q&A, etc. Find out what they say about your product: The Brands should be well aware of what & where are saying. We your customer make an effort to post good or bad reviews. Brands must promptly acknowledge their response and make sure the customers feel valued. Track ratings and reviews to enhance product performance. Brands must be aware of the sentiment expressed by customers about the product and how many customers are saying similar things. This information is vital for product quality management and measuring customer sentiment across platforms at brand, sub-brand, product categories, sub-categories, and variant levels. Make Your Products Discoverable for Your Consumers: Identifying if the customer of the segment can discover your products is the first and foremost thing for an eCommerce business. Brands need to make sure that they target the right set of keywords to reach the desired segment of shoppers. Insights on the share of search, discoverability trends, keyword performance, and bidding can help the brand cater to the right audience. Identify Patterns in the consideration process: Once shoppers discover your product, the next target is to identify what the segment of shoppers are looking for. In the consideration phase brands must set pricing and discounts to suit market trends and customer preferences. The brand must also be aware of stock availability to build customer brand trust cause one bad experience is bad enough to lose a customer. Optimize Delivery Turn Around Time (TAT): Same-day delivery or 1 day delivery is key to acquiring new shoppers. Delivery time plays a crucial role in purchase decisions it gives a substantial competitive edge to the brands in the eCommerce marketplace. The target customer precisely requires brands to deliver on time. This helps a brand to expand to an extensive new segment of shoppers who are looking for products that can be delivered quicker than the competition. Final Thoughts The core solution to brand problems is insights into customers, markets, and competition. They set up brands to target new shoppers by identifying data patterns that guide more effective business decisions. To achieve precision in targeting, brands need to be aware of customer needs and formulate strategies based on such insights. mScanIt, E-commerce Intelligence lets brands track brand sentiment and guide brands to identify gaps in the market. The geographies they could target and demographics they could extend their product reach. Get in Touch to learn more about e-commerce intelligence. 

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optimize-category-pages

Why do Brands Need to Optimize Category Pages – Browse Share of Products?

The rules of the game remain the same. Just the battleground gets shifted from the home page to the category page on the eCommerce marketplaces. Brands often pay less heed to what goes on the category page. The key focus area of the brands remains to be getting more discoverable on keywords and optimizing the Product Detail Page (PDP) performance. Yet banners on the home and category pages remain a key focus as brands spend heavily on them and drive most of the purchases. Let’s dig deeper into why category pages are so important and find out why brands need to keep a close eye on the eCommerce banners of their brand and competition. Why Do Brands Need to Monitor Category Pages? Brands need to monitor category pages to make sure their products are present for shoppers looking to shop under a specific category. Most of the online marketplaces on the main category page publish dynamic banners featuring enticing offers and exclusive products. These banners take shoppers to brand-specific pages or the product on the eCommerce platform. It displays what the brand has to offer. Here are a few things that brands need to monitor: Browse share of the brand on category pages: Monitoring the browse share helps brands understand how often their products are being viewed or browsed by customers within a specific category. It provides insights into the brand’s visibility and popularity compared to competitors. By tracking the browse share, brands can identify trends, measure their performance, and make data-driven decisions to improve their market position. Tagging of products: Categories and subcategories serve as organizational structures for products on e-commerce websites. Proper tagging ensures that products are correctly grouped and displayed within relevant categories, making it easier for customers to find what they are looking for. Monitoring the tagging of products helps brands ensure accuracy and consistency, which enhances the overall user experience. It also helps prevent instances where products may be misplaced or hidden within incorrect categories, potentially leading to lost sales opportunities. Category Page Banners: Banners on the category page are the best way for shoppers to get an exclusive look at offers in categories and sub-categories. The offers on the banners lead the shopper to brand a specific collection of products. These banners offer products featuring Blockbuster deals, Top offers, Hottest trends, etc. Perks of Monitoring Category Pages By monitoring category pages, brands can optimize their product placement, identify opportunities for improvement, and enhance discoverability. This, in turn, can positively impact their visibility, conversion rates, and overall customer satisfaction. It also allows shoppers to check out more products from the brands. Let’s elaborate a bit on some of the key perks. Banner Placement Banner placement on the category page is crucial for attracting shoppers’ attention and driving engagement. Ideally, banners should be prominently displayed at the top of the page or in a visually prominent location that ensures shoppers easily notice them. Placing banners strategically, such as above the fold, can increase visibility and click-through rates. Tracking Banner Presence vs Competition When considering banner presence compared to competitors, it’s essential to ensure that your banners stand out and provide a unique value proposition. Analyze what your competitors are doing in terms of banner design, messaging, and offers. Aim to differentiate your banners by offering exclusive deals, showcasing popular products, or highlighting unique selling points that set your brand apart. Promo Offers & Pricing Strategy Promo offers and pricing strategy should be aligned with the objectives of the banner campaign. Determine the specific offers you want to promote through the banners, such as blockbuster deals, top offers, or trending products. Consider competitive pricing strategies, such as discounts, bundles, or limited-time promotions, to entice shoppers to click on the banners and explore the brand-specific collection of products. Automate Banner Performance Monitoring To ensure banner effectiveness, it’s important to monitor their performance regularly. Consider automating this monitoring process via digital commerce intelligence – banner analysis that provides real-time data and insights. Regularly analyze the performance data to identify areas of improvement and make data-driven decisions for optimizing banner performance. Identify Keywords Brands need to identify if banner keywords resonate with their target audience. Search terms and keywords related to the category, sub-categories, and brand must be monitored regularly. Incorporate high-performance relevant keywords into the banner copy, headlines, and calls-to-action to increase visibility. This can improve the chances of your banners appearing in relevant search results. Strategy for Theming Model The theming model for banners on the category page should align with the overall brand identity and the specific theme of the category. Consider factors such as seasonality, trends, or special events when planning the banner themes. Create visually appealing and cohesive designs that match the overall aesthetic of the category page. Additionally, ensure that the theme aligns with the targeted audience’s preferences and interests to maximize engagement and conversions. Final Thoughts The category page on the eCommerce platforms holds value for brands as it puts them face to face with their competitors in terms of promo offers, best best-selling products and takes the interested shopper to their brand-specific page where it may end up buying more from the brand. The core competency that the brand needs here is to optimize banner performance. Monitoring category pages and enhancing the browse share opens the opportunity for brands to take the shopper to an exclusive brand page. Brands need to ensure their brand banners do not get lost among the flurry of banners on the category page. The browse share of the brand needs to be measured across categories, subcategories, and variants.  Contact us to know how your brand can optimize product performance with mFilterIt, digital commerce intelligence.

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awareness-phase

Awareness Phase: Road to Reach The Top Shelf

The first phase of the customer Journey is all about being discoverable across the e-commerce platforms Are your products the top draws on the eCommerce marketplace? In simpleton terms, Does your product pop up in the top search results and get picked up first? No?   Just being a known name in the brick-mortar shops and marketplace does not transpire the same way in the eCommerce arena. Unless the shopper is looking for a specific product of your brand.  So how does it work in the eCommerce ecosystem? Let’s take the first step on the journey and start charting your path to reach the top of the digital Shelf. Brand Efficiency in the Product Awareness Phase The spot on the top shelf is what drives brand efficiency. The fierce and feisty competition on the eCommerce landscape put immense pressure on brands to push for more and do better in digital marketplaces. But all efforts can turn to dust if your product does not reach the intended segment of shoppers. The brand being efficient in the Awareness Phase is key to getting on the top in organic search. So, what are the things your brand needs to do to be efficient in an awareness phase? Analyse and optimize content to create a perfect product detail page. Enhance Product Discoverability with Keywords Analyse & Optimize Banner Keep track of existing and new competitors in your segment Looks simple right? Not at all. In this preliminary phase of the customer journey making the product more discoverable and enhancing awareness is like starting from scratch which starts with getting the Product Display Page (PDP) content right. Efficiency Checkpoint 01 – Content Discoverability Check Pick the right words. What you write in the Product Title & Description is key to making the product more discoverable than competitors. Brands need to perform content audits regularly to ensure that the product pages are engaging on eCommerce platforms. To know more about what makes the content description more effective click here. PDP content Audit typically involves evaluating various aspects of content to assess its effectiveness and identify areas for improvement. This includes: Image Analysis: Involves evaluating the images used to ensure they are visually appealing, relevant, and optimized for performance. Let the pictures speak for the product. Brands need to conduct Image Analysis on product images and ad banner images to check for performance and compliance. Perfect Page Analysis: Focuses on evaluating the effectiveness of individual pages. It involves assessing various aspects. The goal is to identify any issues or areas for improvement that might be hindering the page’s performance and user engagement. Keyword Recommendation for PDP (Product Detail Page): Identifying relevant and high-impact keywords that can optimize the page’s visibility. The recommended keywords should be strategically incorporated into the PDP’s content to improve its ranking and attract more organic traffic. Optimizing listing needs accurate, effective, and engaging content with the right set of high-performing keywords to boost rankings. Brands need to keep track of keywords to bid on their brand and competition for organic, sponsored, and generic keywords. Efficiency Checkpoint 02: PDP Discoverability Check Making your product discoverable on the eCommerce marketplace requires a lot of factors to come together and help optimize product performance. Optimize Brand-wise Discoverability Share: Analyzing how well your product content is being discovered and shared across different platforms. It involves assessing your brand’s visibility and tracking its performance over time. Role of Keywords: The key to boosting discoverability is the keywords. The keywords play an important role in making your products under various sub-brands, categories, and sub-categories pop up among the top searched results. Use of high-performing keyword Banner Performance: Analyzing eCommerce ad banner performance is essential for enhancing brand discoverability across different platforms. By evaluating the effectiveness of category page banners, banner themes, and keyword themes, brands can optimize their strategies to capture the attention of their target audience, increase brand exposure, and drive sales. With a data-driven approach to banner analysis, brands can refine their design, messaging, and targeting strategies to stand out in the competitive eCommerce landscape. (a). Category Page banner: Category page banners play a significant role in capturing the attention of potential customers as they navigate through eCommerce platforms. These banners are strategically placed within specific product categories, attracting users who are already interested in those particular items. By understanding which banners generate the most engagement and conversions, brands can optimize their designs and content to increase brand exposure and drive sales within relevant product categories. (b). Banner theme: The theme of an eCommerce ad banner refers to the overall visual and messaging concept it conveys. Analyzing the performance of different banner themes helps brands determine which styles resonate most effectively with their target audience. By identifying the most successful banner themes, brands can refine their design strategies to align with customer preferences and increase brand recognition. (c). Keyword Theme: Keyword themes are an integral part of eCommerce ad banners as they influence the ad’s visibility when users search for specific terms. By understanding which keywords are most relevant to their target audience and driving the desired actions, brands can optimize their ad campaigns for improved discoverability. Additionally, analyzing keyword themes helps brands refine their search engine optimization (SEO) strategies, ensuring their ads appear prominently when customers search for related products or services. Efficiency Checkpoint 03: Competition Discoverability Check Competitive insights and analytics across brands, sub-brands, product categories, sub-categories, and variants lead to data-driven business decisions that boost brand efficiencies on the eCommerce platform. Constant monitoring and performance tracking are required to stay updated on market trends and developments made by competitors across eCommerce marketplaces. Brands need to track new and existing competition brands and the product performance vs competition to upswing their performance and formulate effective business strategies. This analysis process goes beyond the Awareness & Discoverability phase of the brand. We shall cover that aspect of the customer journey and various touch points for a follow-up piece. Final Thoughts Awareness is just the first step in optimizing the customer journey, and ably the most crucial one as it’s a phase where

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bricks-to-clicks

Bricks to clicks: Brands expanding their footprints

It’s not about the wings, it’s about the will to fly high. Shopping has been traditionally about look & feel, banking high on customers’ needs, and getting assured by trusting what they see. But times have changed Brands, digital-first, or offline stores, all are moving to the new sky of digital retail expanding their wings and flying high with massive boosts in omnichannel sales in the post-pandemic new normal. Let’s explore how brands are expanding their digital footprints, what’s then towards it, and the perks of going digital. Big Brands Moving to Digital Stores and Luxury eCom Marketplaces The implementation of lockdown measures has not impacted people’s expenditures significantly; rather, it has led to a shift in their spending habits. In response to this change in consumer behavior, well-known fashion brands have adapted by investing in their online shopping platforms and eCommerce stores. As a result, major players in the fashion industry, such as H&M, Puma, Hugo Boss, and Zalando, have witnessed a remarkable surge in sales and an expansion of their customer base over the past few months. For example, H&M, the Swedish fashion retailer that ranks as the world’s second-largest, managed to recover from a 57% decline in local sales through a nearly one-third increase in online sales. Puma, the world-known sportswear firm has decided to invest more in online logistics after they saw their e-commerce sales grow by around 40% in the first quarter and by 77% in April. Showcase For Offline Sale In today’s digital landscape, where a majority (63%) of shopping instances commence online, it has become crucial for businesses to establish a strong online presence to reach potential customers. Even if these customers ultimately make their purchases from local brick-and-mortar stores, it is vital for companies to showcase their products or services on the web. However, the rising costs associated with digital marketing and the need for eCommerce adjustments have raised concerns about the sustainability of exclusively direct-to-consumer (DTC) business models. According to the State of Fashion 2023 report, brands will need to diversify their channel strategies beyond DTC to foster growth and success. Why do brands need to expand their online footprint? Most brands across the world are available online now in the post-pandemic world, even the luxury stores and houses of brands are also available on niche luxury online platforms or selling via their own online store. The ease of accessibility is the key. The ease of purchase and expanding reach to new shoppers who prefer online stores even for luxury shopping. Customer experience. Seamless transition from offline to online saves on massive inventory management costs and store costs. It translates the offline shop experience to online with more consumer-friendly options. What do brands need to do when they decide to go online? Understand the eCom landscape & competition: When a brand goes online, it needs to get hold of the market first to understand what & where it wants to sell and who it is targeting. Understand competition various product performance matrices as it has sharp contrast, starkly different from a brick and mortar sales competition. Know your target: The target customers need to be identified as the brand decides to move into new territory in the online segment. What future holds? The future looks bright as brick-and-mortar stores can co-exist with online marketplaces. The brands on the shelf of the store now making a smooth transition to digital shelf with more control over product performance. The growing digital retail marketplaces with new technology like augmented reality are enhancing the shopping experience like never before. Brands also moving towards competitive intelligence to stay ahead of market trends with insights and analysis vs competitors across geographies and platforms. The sales channels on the online shopping spectrum are also evolving with new avenues with on-the-go shopping potential – Live commerce and Social commerce are extending the reach of brands beyond the bounds of platforms. But still, eCommerce marketplaces remain the key for a brand to boost sales. The rise of Digital Native Brands (DNB) has also opened door the to an innovative set of products and more options for customers along with Brands which has both online & offline presence. The race to reach the top shelf is heating up but the future looks exciting for more Brands across industries and sectors on the eCommerce landscape. Conclusion To sum it up – the World is changing and brands need to change with it. Marketing strategies and sales channels are expanding and online sales is the bandwagon they need to hop on. Expanding digital footprints in the eCommerce arena is the right move. But brands need to back the decision with data-driven decisions, getting that top spot on e-commerce marketplaces is not that easy. Gear up with digital commerce intelligence, and make your marketing strategies based on insights & analytics while keeping a sharp eye on market trends and competitors’ activities. Spread your winds in eCom Sky, fly high, and make your journey more worth it. Click here to connect with us and learn more about what your brand needs to expand its digital footprint in the global digital commerce ecosystem.

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consideration-phase

Consideration Phase: What Makes Shoppers Pick Your Product?| mFilterIt Blog

The second phase of the eCom Customer Journey is where shoppers evaluate and consider your product The job is not done yet. Creating awareness and generating interest in your product is just the beginning. To truly win over shoppers and make your product the top bargain, you need to excel in the consideration phase. “ACCORDING TO A SURVEY REPORT, 85% OF CONSUMERS COMPARE PRODUCTS BEFORE MAKING A PURCHASE ONLINE” This is the phase where shoppers evaluate your product for their purchase decision. They go beyond the product description and start asking questions like: Is the product available? Does the price suit their budget? What are other customers saying about the product? When will it be delivered? These are the key questions that need to be addressed during this phase. Checkpoint I: Quest for the perfect price Pricing plays a crucial role in a shopper’s decision-making process. It is essential to analyze and determine the perfect price point for your product. Conduct thorough market research and competitor analysis to ensure your pricing is competitive and attractive to potential customers. To optimize their performance with the right pricing brands need: Identify and monitor pricing & discount trends Boost market positioning with the better pricing decision Identify MAP violations across platforms “ACCORDING TO A SURVEY REPORT, 57% OF CONSUMERS CITE PRICE AS THE MOST IMPORTANT PURCHASE CRITERION” Checkpoint II: Stock it up Product availability is a significant factor influencing purchase decisions. Nothing turns away a shopper more than finding their desired product out of stock. Implement a robust inventory management system to track and ensure sufficient stock levels. Anticipate demand patterns and replenish stock accordingly to avoid missed opportunities. Being aware of their stock situation across geography and platforms brands need: Insights on competitors Out-of-Stock (OOS) gives for pushing own brand on such geographies The optimized stock status also ensures that competition does not eat up their brand market Upswing buy-box wins with improved availability across geographies “44 PERCENT OF CONSUMERS CHOSE TO PURCHASE THE PRODUCT AT A DIFFERENT RETAILER WHEN THE PRODUCT WAS OUT OF STOCK.” Checkpoint III: Lend Your Ears Listening to your customers is vital in the consideration phase. Analyze customer feedback, reviews, and ratings to gain valuable insights into their experiences with your product. It helps brands address any concerns or issues promptly and make necessary improvements based on their feedback. This not only builds customer trust but also helps in product refinement. To understand customer sentiment brands need: Provide actionable insights for every department in the company to improve product pricing, packaging, and logistics Optimize product experience for the customer and thereby reviews and ratings Insights unraveling what’s working for the brand and where need to improve in terms of price, quality, quantity, packaging, taste/flavor, genuineness, delivery, etc. “ABOUT 70% OF CONSUMERS HAVE CHANGED THEIR PERCEPTION OF A BRAND BASED ON IF AND HOW THE COMPANY REPLIED TO AN ONLINE REVIEW” Checkpoint IV: Seller Check Collaborating with reliable sellers is crucial for maintaining a positive brand image. Regularly monitor and evaluate the performance of your sellers. Ensure they meet your brand’s standards in terms of product quality, customer service, and adherence to pricing policies. Take appropriate actions if any issues arise to maintain consistency and reliability. To stay updated on seller activities your brand need to: Monitor Best performing brand in the sub-category Actionable insights for making effective decisions to upswing product into being a best seller Boost the brand’s positioning in the market Checkpoint V: Deliver on time Timely delivery is a key factor in customer satisfaction. Monitor and optimize your delivery process to ensure that orders are fulfilled promptly. Set realistic delivery time frames and communicate them clearly to customers. By consistently delivering on time, you build trust and enhance the overall customer experience. For uplifting delivery performance and build customer trust your brand need to: Optimize delivery time/TAT Ensure faster delivery across product categories especially for the best sellers Upswing Amazon Buy Box win percentage Checkpoint VI: Stay SKU healthy Each stock-keeping unit (SKU) represents a unique product variant. It is crucial to track the performance and health of your SKUs. Analyse, identify underperforming SKUs, and take necessary actions such as promotions, marketing campaigns, or discontinuation of low-performing SKUs. By optimizing SKU performance, you maximize profitability and align your product offerings with customer preferences. Understand your SKUs and optimize performance through: Deep Insights into Perfect Page Analysis of SKU Monitoring inventory, and financial analysis at the SKU level Find new ways to push products based on perfect page scores and better the product experience Final Thoughts To be on top of the competition, brands need an extra impetus to stay ahead. Digital commerce intelligence provides that edge by optimizing every touch point across the customer journey. The consideration phase is a make-or-break moment for brands as customers evaluate and make purchase decisions. Imagine a scenario where your product goes out of stock during a holiday season sale, or your competitors are driving more sales through dynamic pricing and discounts. To avoid such scenarios, it is crucial to optimize the consideration phase using mScanIt digital commerce intelligence and rewrite your brand’s success story. Wait! It’s not over yet the final phase purchase phase is still due. Follow up and discover what your brand needs to optimize the customer journey and boost efficiency across the three phases.

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