Digital Shelf Analytics

Beginners Guide to Share of Voice on Search Engines

Leave a Comment / Blog, Digital Shelf Analytics / Anukirti Jain

Share-of-Voice is a marketing metric that defines your brand’s visibility versus the competition. On search engines of Google, Bing, Opera, etc., SOV defines the share of your brand’s appearance versus the competition based on keywords. Measuring SOV on a search engine is critical to know your presence on the web and the form of content you are visible on such eCommerce Platforms, Blogs, News, Brand Websites etc. Analyzing SOV is also important for brands as it gives a complete picture of their awareness on the brand, competitor and organic keywords. Brands with higher visibility percentage have a higher chance of boosting their conversions/sales/purchases and giving impression as a market leader. According to Statista, desktop search traffic originating from Google ranges between 8.78% to 94.15% across countries, with the highest results from India. The likelihood that consumers would go to an ecommerce platform using the top three-page results is higher than the pages preceding them. It means that brands have a higher chance of driving traffic from the Google search engine to their product listing on a platform the more times they appear on the top three-page results. Why Does SOV Matter for Your Brand? Measuring the SOV of keywords helps to answer the following questions: Which is the best performing type of content? How much market share does it acquire? What is your market positioning? What is the keyword-based ranking of your brand? What is the share of your paid search keywords? Who has the highest market share? Which ecommerce platform has the highest SOV and for which keywords? How likely will consumers come across your brand? What is your brand awareness? What types of search results do consumers get on your selected keywords? What type of other results appear on your chosen keywords? What is their SOV? Without measuring the SOV, deciphering such results could become impossible on Google, which is one of the most dominant sources of finding the most relevant results. In the U.S., 61.4% of core search queries were generated through Google in January 2022. According to Google, personalized results are generated using an algorithm that relies on commonly used words, expertise sources, location, setting, and other factors to deliver the best results. Appearing as the most viable search results active on Google becomes a priority as it is directly connected with traffic generation, conversion, revenue, etc. Here is an example of mobile SOV for one of our brands: Tracking the share of voice on Google paid searches helped one of our clients take measures to boost their brand website share from 25% to 28% from January to December. The brand’s share of ecommerce marketplaces diminished from 51% to 47%. So, the visibility of the brand’s search results for the ecommerce marketplace also diminished, and marketers should assess the reasons for the change. In short, the advantages of measuring Share of Voice on search engines are as follows: Brand Awareness: Analyzing SOV through mScanIt defines the proportion of your brand’s awareness on organic, paid, and competitor keywords. The higher your SOV, the higher the chance of reaching out to potential customers through the search engine by redirecting them to your website or an ecommerce product listing. Visibility: SOV also defines the proportion of your brand visibility versus the competition. Brands with the highest visibility would captivate more attention and have historically witnessed a higher click-through rate (CTR) & conversion rate. Search Rank: The user often goes through the top twenty or top three-page results before making a buying decision. Higher search rank is directly proportional to higher ranking during recurring intervals. Thus, acquiring a higher market share and revenue. Most Dominant Form of Content: Analyzing SOV also gives a picture of the most dominant content results on the search engine, and such content forms would likely have the highest traffic. Moreover, brands can find paid keywords with the highest and lowest SOV, and marketers can use them to build strategies across channels. Pro Tip: “Search engine analytics reveals information pertaining to your brand’s webpage performance. However, mScanIt defines the presence of your brand and the competition across the web on the keywords or key phrases commonly used for searches. Users today still make buying decisions or deviating to an eCommerce platform through search engines. Therefore, tracking your visibility/brand awareness on search engines keeps you abreast of your consumer interactions.” Conclusion Share of Voice is an important factor for measuring a brand’s awareness, visibility, search rank, etc., on the search engines. mScanIt, powered by mFilterIt, measures the SOV of global leaders, giving them an overview of their likely market share. Analyzing SOV through mScanIt also helps to deep-dive into consumer behavior, showcases the presence of the competition, makes the brands aware of new trends, and more. The paid and organic results enable brands to find areas of improvement, the most visible types of content, the percentage-wise share of each form of content, and more. Schedule a demo with us to learn more about the advantages of eCom Competitive Analytics for your brand.

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4 Signs to Update Your Product Page on eCommerce Platforms Now!

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

The product page of most eCommerce platforms provides relevant, helpful, and user-friendly information that enables customers to make the final buying decision. It includes the technical know-how, price, delivery, & key, USPs, or standalone features differentiating it from the competitors. Simultaneously, it also consists of Q&A and reviews & ratings, which play an important role in the final buying decision. According to our research, 35% of customers are most inclined to buy a product with positive reviews. The reviews or Q&As could consist of unanswered queries, the positive aspect of the product listing, the brand/seller details, delivery timing, etc. Customers tend to notice whether the most commonly asked question in the Q&A have been unanswered or answered by the seller. Based on the response the customers may make the decision of engaging or disengaging with the brand. If they disengage, buyer might choose alternative sellers or competitor products. However, this is just a single sign which states that the product page needs updation. Here are a few more: 4 Reasons to Update Your Product Page, as of Now! Competitors Have Started Using Your Un-Mentioned USPs as Features If you are failing to take advantage of eCommerce Competitive Analytics to your advantage, competitors have taken that leap by monitoring your brand’s product listings in real-time. The ongoing smartwatch trend is the best example of this. “Sleep monitoring” became a key feature that most brands considered a general feature. Did you know? The global Sleep Economy, i.e., products, applications, or services associated with sleeping, would reach $551 billion by 2023 (Source: Statista). However, post analysis, one of the brands discovered that the product pages of some of the smartwatch variants that included this feature had minimal mention. In contrast, competitors capitalized on it by displaying it in images, product descriptions, general information box, etc. Certainly, customers looking at this feature in smartwatches developed an interest in the brand once it added the feature to the content spaces on the product page. But unfortunately, the brand failed to discover that potential customers continually asked about it in the Q&A section. A real-time eCommerce analytics solution could have triggered an alert to the brand to address the customer queries for the select variants. Therefore, it lost an opportunity window for increasing the overall revenue, especially when smartwatch trends were high. Change in eCommerce Trends Customers on eCommerce platforms like Shopee, Lazada, Amazon, etc., often come across trending products as bestsellers and discover features that were originally unknown. As a result, brands keep updating their product listings on eCommerce platforms to match the growing needs/demands of the consumer, boost add-to-cart actions, and eventually increase monthly revenue. At times, a seller receiving a high level of product reviews in a particular duration could become a favorite choice for customers. Consumers might leave feedback that states eagerness to buy the product from the particular seller. Therefore, monitoring the reviews and ratings across eCommerce platforms becomes important for brands. It nurtures themes that provide information about the most/least demanding features of a product listing. Brands could also come across competitor trends, such as cost savings with bundled products, variants with qualities not mentioned in similar brand products, etc. Tweaks in Product Page Scores of the Competitors According to a report, 15% of online shoppers made their purchasing decision based on exclusive content or services offered by the brand. The percentage seems small; however, the global number of eCommerce buyers and internet users is continually increasing each year, likely meaning larger revenue for the eCommerce brand. So it doesn’t seem small now? Does it? Tapping into the consumer’s mindset or finding the ongoing buyer personas is not an easy task. Still, it certainly offers its perks (higher CTR, add-to-cart actions, and revenue/sales). If your competitor has suddenly improved the product page scores and outranks yours, it would most likely bend the trends more towards the competitors. Revamping the product page to achieve the highest scores at all levels becomes the solution to this problem. Your brand would need eCommerce Competitive Analytics to keep track of the competition and measure the scores in real-time. Uninformative/Disengaging/Inaccurate Details Curating customer-centric details while managing the brand persona can become challenging for eCommerce marketers; however, it is the need of the hour. At times, disengaging/disassociating with certain form of details can even build a better brand perception in the minds of the consumers for the particular listings. Wasn’t this engaging and informative? Exactly! The content of the product pages on eCommerce platforms revolves around the same concept/idea. However, the content sometimes becomes outdated or is no longer aligned with the ongoing trends and changing buyer personas. But brands can discover inaccurate information through consumer reviews or the negative word cloud of sentiment analysis. Brands need eCommerce Competitive Analytics, a.k.a., mScanIt, powered by mFilterIt to find their areas of improvement on multiple eCommerce platforms. Continually reviewing the perfect page analysis scores and setting KPI triggers can enable brands to resolve customer-centric issues at variant, sub-category, sub-brand, and other levels. Conclusion Monitoring product listings on multiple eCommerce platforms can enable brands to find signs for updating the product page to meet the growing demands of consumers or the changing buyer personas. Brands across the globe and with sizable number of product variants understand the scope of monitoring product listings across eCommerce platforms, which goes beyond sales/revenue. For example, meeting consumer demands by updating the details on the product page gives an impression of awareness of the ongoing market trends. Schedule a demo with us to learn the advantages of implementing eCommerce Competitive Intelligence.

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How Can Brands Optimize Digital Shelf on eCommerce Platforms?

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

The Share-of-Digital-Shelf on e-commerce platforms measures the recurrence of a brand’s product listings versus the competition based on keywords. It informs brands about their discoverability on eCommerce platforms like Shopee, Amazon, Flipkart, etc. Higher discoverability through keyword searches could likely trigger higher click-through rates, add-to-cart actions, conversions/sales, etc., of organic and sponsored listings. Brands optimize their Product Display Page (PDP) using SEO and customer-centric information to optimize their discoverability on the digital shelf. Product listings with higher visibility or ranking often have a higher chance of achieving the SOS goals. Optimizing SOS requires enhancing the findability of paid and organic keywords, improving the perfect page analysis scores, finding customer-centric touchpoints, etc. Optimizing the digital share-of-shelf on eCommerce platforms is a dynamic and ongoing process, which can be easily comprehended using eCommerce Competitive Analytics, a.k.a. mScanIt. Moreover, the solution offers advantages like keeping an eye on the competitor’s digital shelf progression across eCommerce platforms and helps to identify opportunities for growth for your brand. How to Optimize Digital Share-of-Shelf on eCommerce Platforms? Table of Content Monitor the Digital SOS Ensure Brand Compliance Across e-commerce Platforms Address Consumer Grievances in Real-Time Discover eCommerce Trends Monitor the Digital SOS The easiest and simplest solution to keep track of digital SOS is by using eCommerce Competitive Analytics. The digital shelf analytics reveals your brand’s share versus the competitors on generic, brand, and competition keywords. Brands with higher discoverability and visibility on keyword searches acquire a higher SOS. In addition, analyzing the digital shelf at category, variant, SKU, and other levels gives in-depth information about the brand’s performance and keeps track of the competitor’s performance in real time. Therefore, brands can find opportunities for scaling up their business by monitoring the digital shelf. Ensure Brand Compliance Across e-commerce Platforms Third-party, or unauthorized sellers of the brand products often give discounts, promotions, offers, etc., that create MAP (Minimum Advertised Price) violations. In addition, it causes the diversion of brand customers to sellers that could even provide duplicate or counterfeit products and create a bad reputation in the market. Besides this, brands need to monitor their PDPs continuously, as consumers constantly share their reviews and ratings, which could include remarks like fake, duplicate, counterfeit, etc., as consumer feedback. Moreover, it could help find sellers not associated with the brand and report them to the eCommerce marketplaces. At times, the product information could also consist of discrepancies and need attention to detail so that the customers no longer get misled by third-party or unauthorized retailers. Address Consumer Grievances in Real-Time The Customer Q&A section of the product pages on eCommerce platforms often consists of problems, queries, tell-tale signs of customer demands, etc. At times, multiple questions might require a similar answer. For example, smartphone brands commonly find this question in different forms – “does it come with an adapter?” Being a proactive brand that monitors and answers consumers’ queries within 24 hours can certainly impact add-to-cart actions and conversions/sales. Similarly, mScanIt’s proprietary Sentiment Analysis consists of sentiment intensity scales. Whenever the negative or neutral scale moves upwards, it is time to find the cause for the same from the word cloud. The word cloud highlights the problematic areas and the number of times they occurred in duration on an eCommerce platform under the sentiment themes. Customers often leave feedback under the reviews and ratings related to packaging, delivery, counterfeit/duplicate products, etc. The brand could allocate the relevant teams to address the buyer issues and might influence the sentiment intensity, as other customers would read the same replies making a decision. Moreover, brands often leave their customer service number in replies, creating a similar impact and enabling brands to control R&R and influence the overall sentiment score. Optimize the PDP with the Search Intent The product listings on eCommerce platforms should match the common searches of the consumers. Monitoring aspects helps brands to find their areas of improvement, such as keywords that have a higher SOS for the competitors and are usable under specific product variants of the brands. Our solution also detects pin code level SOS, which helps brands segregate their product listings based on the SOS of a particular geo. Higher SOS of the competitors would also mean greater frequency of their product listings. Therefore, brands can optimize the PDP of similar variants to increase the recurrence of their listings. At times, brands can find the intent searches by analyzing competitors’ keywords with the highest SOS. Analyzing the title, product description, bullet points, A+ content, and other relevant detail scores can help see the number of mentions of the intent-based search keyword and enable SEO optimization. Conclusion Optimizing the factors influencing the digital shelf positioning and sharing is a brand’s priority, made possible using eCommerce Analytics, a.k.a. mScanIt. The solution detects sentiment analysis, reviews and ratings, Q&A, and other factors in real-time, which helps brands address consumer grievances, optimize product pages, ensure eCom marketplace compliances, etc. Our solution is used by world leaders in finance, banking, food, Q-commerce, Quick Service Restaurants, gaming, beauty, fashion, and other industries. Get in touch to learn more about the digital shelf.

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Why Does Page Analysis Matter for eCom Brands?

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Page analysis is a part of discoverability and signifies the search rank of your brand’s versus the competition on organic and sponsored listings across ecommerce platforms. Page analysis signals brands that would likely have the highest click-through rate (CTR), create more awareness on e-commerce platforms, etc. Generating brand awareness is crucial for search engine optimization. According to a report, 17.8% of global search rankings of brands are influenced by brand awareness, which is among the leading SEO factors. Besides this, results derived through page analysis often drastically influence a brand’s marketing and advertising decisions across e-commerce platforms like Amazon, Flipkart, BlinkIt, BigBasket, etc. The parameter helps brands make marketing decisions like deciding the type of campaigns they should run on multiple eCommerce platforms, e.g., paid searches, banners, display, etc. Hypothetically assuming that the listing doesn’t appear in the top ten results of any specific keyword search, or re-appears less than the competition on each page. In that case, your competitors would likely achieve higher search rank, visibility, product discoverability, etc. The page analysis could vary across platforms, time frames, categories, etc. Brands could use this detail to create multiple strategies for their listings on these platforms where the product is listed. Moreover, SEO plays an important role in search rankings, and brands with the highest discoverability have likely optimized their listings for specific keywords, which is also an important activity for eCom Brand Managers. It is a well-known fact that brands with the highest eCommerce platform listing often appear higher on search engine listings. It means they would have a higher share of voice than their competition on respective e-commerce platforms. Brands often optimize their product pages to achieve the highest ranking on the keyword search results. Our experts continuously analyze the product description, title, review scores, etc., which helps in enhancing the position of their listings on the Digital Shelf. Another prerogative of page analysis is to check if your brand’s listings make their mark on the prominently searched consumer keywords across e-commerce platforms. Imagine that you are a smartwatch brand that is also running sponsored ads for your product, but consumers don’t find them in the top three pages or the top ten results against the commonly searched keywords. In that case, there is a high chance that your competition must be grabbing that space. How Does mScanIt Help You With Page Analysis? mScanIt helps the brands understand the overall search rank of their brand w.r.t. to the competition and get a more detailed insight on the search rank of multiple pages of any eCommerce platform. Why does page-wise search rank matter? Besides revealing the top-ranking listings on each page, it also states whether your brand listing is visible on the top results/pages and the change in your search ranking over time. ecommerce analytics a.k.a., mScanIt, powered by mFilterIt, measures the following aspects to reveal accurate page analysis: Search Rank – Overall and Page Wise: The higher the page ranking, the higher the chance of click-through rate. Our solution curates the overall search rank of a brand/product being listed on the first three pages. mScanIt also detects the page-wise ranking of the product or brand versus the competition. Keyword Search Rank: A subset of search rank is the keyword search rank, which establishes your brand’s position versus the competition based on keywords. It is beneficial as it helps you discover your product’s positioning when your brand name is included in the searches or ranking of your brand in your competitor’s brand-based keywords. Pro Tip by Praveen Dhama, Manager, mScanIt: “Lower the search rank higher the chance of product being visible on the top ten listings on the eCommerce platform first-page.” Conclusion Search rank is pivotal for harnessing higher CTR, generating brand awareness, increasing discoverability, etc., on e-commerce platforms. mScanIt helps brands achieve these goals by measuring accurate page analysis through detailed insights and real-time reporting. Measuring page analysis also defines whether your brand meets the product searches of the most commonly searched keywords for any specific product which usually the end consumer is looking for, e.g., running shoes, tablets, and smartphones. Set up a meeting with us to learn more about the benefits of mScanIt’s page analysis for your brand, such as acquiring higher discoverability, easing customer journey, acquiring a higher market share, etc. To know more, get in touch with our experts today!

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How Can Analytics Detect Counterfeits on E-Commerce Platforms?

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

Counterfeit is a serious issue for brands for many reasons; however, ‘bad reputation’ ranks at the top of the list. Why? A consumer places trust in the brand to receive products described and shown in the ecommerce stores. However, when the customer receives a duplicate or counterfeit product, the brand ‘trust’ is lost forever. Also, fraudulent product sellers target brands that have built their market reputation over time, and such consumer grievances create long-lasting bad publicity. Brands would try to recover their trust and the lost consumer base due to this issue; however, the customer would remain unsure of the brand/product and may not even engage even after rigorous marketing and advertising efforts. In 2020, counterfeit goods caused a loss of 26.3, 10.3, and 4.7 billion euros for the clothing, pharmaceutical, and cosmetics & personal care industries. Besides the loss of sales, counterfeit product sellers could engage in MAP violations, further damaging the brand’s reputation, creating legal issues, and hampering price perception. Knock-offs could also cause health issues, and customers often complain, blame, or sue the brand for their problems, which could further escalate legal problems. Given these facts, brands need a solution to detect counterfeit or fake product sellers across e-commerce platforms like Amazon, Big Basket, BlinkIt, Snapdeal, etc., in real time. eCom Competitive Analytics offers data supported with snapshots of counterfeit products for countering and diminishing consumer problems. Let’s find out how. How Does mScanIt Resolve the Counterfeit Product Distress of the Brands? Tracing Online Seller Activities in Real-Time Reputable brands often enlist the approved sellers on their websites, make mentions on e-commerce platforms, take measures to avoid fakes in their packages, etc. For example, MuscleBlaze Whey Protein comes with authorized seller mentions on their product pages across Amazon, Healthkart, Healthgenie, and other supplement e-commerce stores. Their genuine products also consist of packaging with QR scans through their app, ensuring trust in the brand. However, many reputable e-commerce platforms don’t have a real-time monitoring system for detecting approved third and first-party sellers. mScanIt offers the capability of sighting all types of sellers across e-commerce platforms and gives a chance to brands to revoke unapproved or counterfeit sellers through deep-diving results. Tracking Reviews and Ratings The biggest solutions for detecting counterfeit or fake product sellers on e-commerce platforms are reviews and ratings. Monitoring mScanIt’s word clouds of your brand, which includes the commonly used words/phrases such as fake, duplicate, copy, etc., by users, can help to sight counterfeit or unauthorized sellers. A sudden upsurge in the negative sentiment intensity also becomes a reason to check out the reviews and ratings and the associated negative or neutral word clouds. mScanIt deciphers all forms of sentiment intensity and helps brands set alerts in case of sudden spikes so that the brand can take action in real time. Moreover, the solution detects all types of listings across e-commerce platforms for the said products so that brands can easily see the products sold by authorized and unauthorized e-commerce sellers. Reviewing MAP Violations Counterfeit product sellers often don’t worry about the lowest price of their product on e-commerce platforms, as they might not even deliver it. Also, if they deliver the product, it would be fake, likely costing less than the original manufacturer’s cost. As a result, they often engage in MAP violations. mScanIt offers relief to brands for tracking their MAP violations across e-commerce platforms. Upon deep-diving, brands can review screenshots of the products, e-commerce marketplaces, and types of products sold at an undervalued price. Keeping an Eye on Discounting Analysis As stated earlier, counterfeit product sellers often tend to sell products at lower than the market value. Their offers, discounts, cashback, and other promotions can cause MAP violations and require continuous monitoring. mScanIt’s discounting analysis tracks seller-wise discounts across e-commerce platforms and enables brands to review the highest discounting percentages. Discounting analysis through mScanIt is another solution for finding sellers exceeding the maximum promotional percentages and taking action against them. Simultaneously, the solutions help brands to know the maximum discount competitors are offering for similar product listings com platform-wise and get a summary of the average discount. Bottom Line Not resolving counterfeit product problems on e-commerce platforms is no longer an option for brands, as it has long-lasting and damaging repercussions. Brands need eCom Competitive Analytics, a.k.a. mScanIt, to fight the war against fake or duplicate products every day. Today, mScanIt has become a necessity for brands that want to keep their market reputation intact, enhance their sales/revenue, and track the online activity of sellers/re-sellers while managing their marketing efforts. Connect with us through direct messages, comments, or filling out the contact page form to learn the advantages of mScanIt for your brand. Subscribe to our blog to learn why counterfeits are an e-commerce and brand infringement issue and more.

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How is Analytics Solving D2C Issues?

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The needs of consumers dynamically change time and again. D2C (Direct-to-Consumer) e-commerce has become a blessing in disguise for matching the needs of the growing number of online shoppers. According to a report, 85% of global customers shopped online in 2020, and Amazon was the favorite e-com store for most buyers. Besides Amazon, D2C brands use marketplaces like Flipkart, Big Basket, Etsy, eBay, etc., to diversify their customer portfolio and gather more buyer personas. DTC models offer the advantage of eliminating the middleman, direct connection with the customer base, and offering a lower cost of products to the buyers. Moreover, the brand handles the entire customer experience instead of the retailer or a third-party seller. Personalization, authenticity, smooth shopping experience, etc., make D2C e-commerce appealing to Gen Z and millennials; however, a large proportion of them still like to know about previous customer experiences through reviews & ratings. While deep-diving into R&R gives a perspective to DTC brands; measuring other analytics is also important to get a wider idea of the customer’s needs and decisions influencing the buying decisions. Problems Commonly Faced by D2C E-Commerce Brands Enhancing Customer Journey Orders can go through the roof, especially if D2C e-commerce runs an ad campaign on the online marketplace. Sponsored ads have been one of the biggest sources of higher conversion rates for most brands. However, a long line of customers may also resonate with the ads seen on social media handles and connect with brands advertising on Amazon, Big Basket, Flipkart, etc., and other marketplaces. The connectivity builds trust in the customers’ minds and makes the brand more approachable. However, customer journeys are made nowadays through unboxing or product videos, informative pictures, A+ content, detailed descriptions, titles, etc., which are part of the perfect page analysis. Brands can also derive buyer personas at pin code, product price, stock availability, recommendations, etc. Brands want to build a frictionless journey that enhances the conversion rate and diminishes the cart abandonment rate at all costs. Decoding Data-Based Decisions Customer buying journeys vary across e-commerce platforms. Therefore, analyzing data across online shopping stores has become a priority. Sellers or brands often try to decode the data through the analytics provided by the platform. They often evaluate factors like stock availability, the share of visibility, share-of-shelf, etc., at the deepest level, leaving out a vast majority of the potential customer base. Moreover, the data given by the e-commerce platform may not deliver actionable insights and doesn’t offer a comparative view on a real-time daily, weekly, or monthly basis. Generating actions through insights is left in the hands of the internal team recruited by the brand. Knowing the data is not optional because customers want to connect with the products they bring home. Therefore, enriching the data has become necessary, and brands lack the necessary solution for analyzing the information, which could probably enhance their loyal customer base. Grasping the Ongoing (Invisible) Trends Market and social media trends often influence e-commerce brands. While hygiene was a priority for nearly all brands during the COVID-19 scare, safe delivery was an approach used by others. D2C brands have been shaped to tune into the customer’s needs. For example, watch brands like Fasttrack, Armani, etc., have been focusing on a smartwatch. Meanwhile, smartphone brands like Realme have entered the smartwatch market, too, giving tough competition to their rivals. A while ago, consumers started purchasing cosmetics certified/approved by dermatologists (and it remains ongoing for some niche products). According to a source, people also demand cruelty-free & vegan products derived from caffeine, tea-tree oil, or argan oil. Did you know that established D2C e-commerce brands would drive vast sales compared to native brands? Identifying hidden trends in e-commerce through analytics is challenging; however, it can build roots and scale businesses. While the visibility of such trends remains debatable on social media, the forecasted or foreseeable demand across pin code, variant, and other levels remains unknown. Therefore, brands constantly face problems identifying their customer’s needs and managing availability accordingly. How Does eCom Competitive Analytics Cure Major D2C Problems? Enables Brands to Make Informed Decisions in Real-Time Reviewing analytics at pin code, location, variant, sub-category, platform, and other levels through eCom Competitive Analytics gives a bigger perspective to brands. The distillation of share-of-shelf, keywords search results, the share of visibility, etc., while comparing with competitor information gives more valuable information to brands and signifies their standing on the e-commerce marketplaces and among their rivals. Deciphering this data in real-time provides knowledge of the hidden demand, growth opportunities, favored/unfavored listings, etc. For example, if Brand A has a higher score in the product description, and the information is compared with the Q&A and R&R sections, your brand can reveal whether the customer problems are being addressed. Curates Information for Enhancing the Consumer Journey Wouldn’t you want to know the cost of products similar to your listings in real-time? eCom Competitive Analytics gives you this picture at platform, variant, category, sub-category, and other levels. Therefore, brands can find the factors that make their competitors more favorable than them. For example, if the perfect page analysis of your competitor is 100%, it means that it meets the average review, title, product description, and other criteria that influence buying decisions. Similarly, pricing comparison reveals the average cost of similar products, making rivals favorable and enabling brands to avoid MAP violations. Likewise, if a competitor uses your brand keyword, keyword search analytics would depict the picture and the share-of-shelf under discoverability. If your brand has a lower SOS, it could report the same to the e-commerce platform and resolve the issue. Identifies Problems Every Day Out-of-stock is visible on most seller dashboards, however, are competitors keeping stocks available for the same product isn’t. Moreover, you could view the stockouts of your competitors on a daily, weekly, and monthly basis through eCom Competitive Analytics. Downloading such reports can give an idea of the average sales, stock requirements, etc. But, eCom Competitive Analytics also shows the most commonly used words for a product listing across e-commerce platforms. It means you can come

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How Can eCom Competitive Intelligence Help You to Create Great Product Descriptions?

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eCommerce platforms like Amazon, Big Basket, BlinkIt, etc., open doors to new brands, competitive pricing, product variants, etc. The factors influencing consumers buying decisions also extend to user-generated content such as Q&As, reviews & ratings, product descriptions, informative & comparative tables, videos & photos, delivery details, etc. According to a Statista report, 22% of online shoppers make buying decisions based on accurate and informative product descriptions. Similarly, other factors have a high or low effect on the buyers’ purchasing decisions. Most businesses create detailed descriptions of their listings on eCom marketplaces based on their product knowledge and could also involve SEO. However, do they review their content score? Do they analyze their perfect page summary? Do they know the detailed score of the distinct aspects on a product page of their competitors? Most likely, the marketers and business heads would answer No. Knowing the product page summary and the content score of your competition and reviewing the pages with the highest score can offer many details. For example, your brand could learn the SEO strategy, commonly optimized keywords, content structure, keyword placement, etc., of the competition. Such information can help your brand improve your listing pages and optimize the content. But, this is just one aspect of it. It can help review the A+, image, and video content, which will likely enhance discoverability on e-commerce marketplaces and increase click-through rate (CTR), likely boosting conversions. What is a Product Description and Why is it So Important? A product description explains “What is the product and its uses? Thats it! But stating more about the listing like a robot or using unfriendly words could make the description uninteresting and drive away users to easy-to-understand or similar relatable products. However, most marketers should realize that the title, price, image, and delivery visible on the product searches have already made the user interested in the product. Also, the informative table is self-explanatory when it comes to features. Still, the user is likely to view the description visible next to the product images or videos of the listing before scrolling down through the A+ content and then visiting the informative and comparative tables. Therefore, it is important to make the product description as compelling as the information on the product search result listings. The question is – How? How Can eCom Marketers Create Great Product Descriptions? We have already established that eCom Competitive Analytics offers insights into the competitors’ content strategies on e-commerce marketplaces. Such insights can help brands curate great product descriptions, as the solution can help recognize customer needs, competitor strengths, ongoing SEO practices, etc. Insights derived through eCom Competitive Intelligence can help in this matter in the following ways: Identify and Implement Informative Words: Most e-commerce marketplaces have approximately 200 words for product descriptions. The consumer is looking for information before checking out reviews & ratings, and Q&As. Knowing the highest content score for the description and checking out the competition with the top results could give a clear picture of the user-friendly information structure, including the product details. SEO-Friendliness: Ideally, brands with a 100% score in the description would likely have a 100% SEO score for their description too. Therefore, brands should identify them and review the keywords and their placement, enabling them to achieve such a result. Post-review brands would also come across keywords that could match the description of their listings. Inclusion of Benefits: Consumers might expect the benefits of a product under the description; however, the description score could reach 100%, even without it. Once again, it is subjective, just like Product Titles. Therefore, analyzing the practices of the competitors through eCom Competitive Intelligence can help you decide on whether the product description should describe the benefits. Before writing a product description based on these aspects, it is necessary to answer the following questions: Should the description: Include words used in brand images or videos. Consist of the keywords included in the title or secondary keywords? Address user queries in the Q&A and R&R sections through the description. Following this approach and competitor intelligence can enable marketers and brands to curate great and compelling product descriptions. The details could help the user decide the advantages of the listing over similar products, upsell recommendations or basket listings, curate loyalty towards the brands, etc. Final Words Product descriptions might seem the simplest form of explanation of the listing; however, it isn’t. Brands require eCom Competitive Analytics to understand more about them. The solution can highlight the score of your brands’ listings versus the competition and offer an understanding of its compelling nature, user-friendliness, keyword, etc., which would affect sales. Get in touch to learn the impact of perfect page analysis of your listings, connect with us through email, or leave us a comment.

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3 Major Quick Commerce Problems Resolved Through mScanIt

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

E-commerce paced up the sale of products largely due to convenience, and quick commerce is boosting these sales through faster deliveries. Earlier online shopping orders were delivered within a week. Then, Amazon introduced two-day, one-day, and same-day delivery, implementing the same approach for groceries or daily need products. Today, Dunzo, Instamart, Zepto, BlinkIt, and other brands have become pioneers in quick deliveries. Quick commerce refers to the delivery of online orders within 15-30 minutes. The fast-delivery concept was first implemented by Domino’s, and you can recall it if you ever received a free pizza due to a delay in delivery. Quick commerce has rapidly gained the attention of Gen Z and millennials who want to watch their favorite sport or movie at home. Both groups made unplanned orders in 2021, which enhanced the purchase of consumables within the year. According to the same source, the Q-Com industry had a revenue of $100 million in 2021, and 70% of the Indian Q-Com revenue came from Delhi, Bangalore, and Mumbai. During the pandemic, safe deliveries were the trend; however, Q-Commerce is bringing its fast-paced delivery concept into the limelight. Q-Commerce has become a substitute for phone-based orders from the nearest retailers and a swift mechanism for receiving frozen, pre-packaged, and fresh orders. Brands offering this service focus on order fulfillment, timely reachability, and swift packaging, which has raised the demand for Micro-Fulfillment Centers (MFCs). Similarly, brands like Buyk are building pipelines based on buyer personas. For example, ordering seasoning for cooking a meal. While the concept is growing in the minds of the buyers, brands face some major challenges in resolving the need to provide everyday need products. How Quick Commerce Works? The general concept of Q-Com is that the customer adds products to the basket, and places an order, which is received by the platform, packaged, collected by the delivery partner, and delivered to the customer’s doorstep. Essentially, Q-Commerce is a form of e-commerce; however, the brands have separate warehouses, commonly referred to as “dark stores,” and deliver within 30 minutes. But, initially, Grofers (now BlinkIt) began the concept of fast doorstep delivery by connecting with local retailers. Also, unlike e-com orders, which often include delivery charges unless a minimum order value is passed, many Q-Com brands offer cheaper cost products in small basket orders with no such fee. Moreover, customers have the option to make orders 24×7, which likely results in impulsive buying during overnight stays, all-night parties, etc. Challenges Faced by Q-Com Brands and mScanIt Solutions Keeping An Optimal Price Globally, 52% of online shoppers make purchase decisions because of the delivery speed, whereas 38% of consumers buy products due to free or discounted shipping. We have already covered that most Q-Com brands offer both of these advantages. Also, the price was the main reason that influenced the shopping decisions of 87% of the consumers in the U.S. So, it would be safe to assume that when delivery speed and fee are no longer concerns, it will remain the likely choice unless the desired product or its quantity remains unavailable. Under such a scenario, keeping an optimal price becomes a primary concern of the Q-Com brands, and keeping an eye on the competitors becomes necessary. mScanIt helps brands review the price differences across online shopping platforms, resolving one of the biggest issues. Managing Stock Availability Stockouts are one of the leading reasons for switching apps, brands, or variants. Also, consumer behavior is rapidly evolving due to Q-Commerce. The changing needs demand managing the growing stock availability and avoiding stockouts. With rapid orders and impulsive buying heightened, the need to manage stocks at pin code, zonal, platform, sub-category, sub-variant, and other levels becomes important. mScanIt meets these requirements by showing stock availability daily, weekly, and monthly, with real-time insights, while showing competitor availability across online marketplaces. The analytics deep-dive into stock availability and help brands avoid stockouts at distinct levels to meet the forecasted requirements. Safeguarding Brand Reputation Quick deliveries don’t mean that consumers would remain satisfied with their orders. Their reaction would have the same sentiment intensity, similar to a regular online shopping experience. However, they might appreciate swift doorstep reachability, which has become a likely factor in reviews and ratings. The demand for safeguarding brand/product/seller reputation has become crucial, and Q-Commerce enhances the chance of replying and resolving consumer issues in real time. Simultaneously, knowing the standing of competitor listings at all levels gives a brand a better perspective of areas of improvement, and mScanIt offers such issues as part of its dashboard. Final Words Q-Commerce brands are transforming consumer behavior, and the changing needs require a solution to manage all aspects that remain relevant across e-commerce platforms. However, price optimization, safeguarding brand reputation, and managing stock availability would take the lead for Q-Com sellers. Brands need a solution that can manage the factors impacting product listings, sales/revenue, content, advertisements, etc., and mScanIt offers deep-diving into all these aspects. For more information about the advantages of eCom Competitive Analytics for your brand, connect with us through email or leave us a comment.

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Why Do MAP Violations Threaten eCom Brands?

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

Product listings on eCommerce marketplaces don’t often have prices varying from the original cost. According to a Statista report, 32% of eCom brands from North America and Europe said they wouldn’t introduce dynamic pricing on eCom stores. MAP or Minimum Advertised Price is the lowest cost at which sellers and re-sellers can sell products on eCom marketplaces like Amazon, Big Basket, Flipkart, etc. Manufacturers, distributors, and retailers create a MAP agreement policy before selling products online. Setting up such a policy upholds the brand’s reputation and ensures retailer margins. Unfortunately, brands constantly face MAP violations through eCom sellers and re-sellers, disrupting this ecosystem and introducing unwanted sellers into the sales funnel. The problem with the brand’s product available at lower than the MAP also drastically spoils the brand’s reputation in the eyes of the consumers. Moreover, such customers often receive counterfeit or duplicate products, further damaging the brand’s credibility and disrupting the existing customer base. Sellers/re-sellers violating the MAP policy often receive negative product reviews and ratings on eCom marketplaces. The problematic areas are mostly addressed towards brands and offer competitors an opportunity to scale their business by offering good quality products. The Bond and Difference Between MSRP and MAP While MAP is the Minimum Advertised Price for selling products that target the retailers, MSRP stands for the Manufacturer’s Suggested Retail Price and caters to the maximum chargeable limit of a product towards a customer. Retailers can diminish the MSRP for clearing stocks or during festive seasons to increase sales and revenue; however, the same is not true for MAP. Moreover, retailers can face legal actions for violating the MAP agreement policy for breach of contract. Maintaining a product price between the MSRP and MAP enables retailers and brands to continuously incur profit margins while maintaining the brand’s messaging set through the price. After reviewing the product price, it informs the buyer that the brand is not willing to go below a point for selling its products and targets individuals who have a keen interest in its offerings. This ideology is even applied when consumers use discounts, promotions, offers, etc. Key Highlights Between MSRP and MAP MSRP can diminish up to the limit of MAP MAP majorly targets retailers, whereas MSRP aims at customers. Setting price between MAP and MSRP gives clear pricing messaging to the buyers. Discounts, offers, promotions, etc., undertake the MSRP and MAP ideologies. The Fastest Method for Monitoring MAP Violations in Real-Time Reducing such instances from sellers and re-sellers is necessary for eCom brands, given the repercussions of MAP violations. Having first-hand knowledge of the online issues arising from this concern requires continuously monitoring eCom websites and apps. eCom Competitive Analytics, commonly known as mScanIt, uses the latest technology to cite screenshots of MAP violations on eCom marketplaces like Amazon, Big Basket, Flipkart, etc. The solution sends real-time notifications to brands for instances of MAP violations and allows revoking pricing disruption while maintaining brand credibility. Moreover, mScanIt, powered by mFilterIt, also highlights counterfeit product listings found in online shopping stores. How to Reduce Unending MAP Violations? Revoking MAP violations through continuous monitoring is a necessity of the hour; however, brands can also use the following tips for reducing them on eCom marketplaces: Cultivate an Environment of Trust Rewarding retailers diligently following MAP agreement policy is crucial to flagging off MAP violators. The problems of nearing the stock expiration date, low demand, D2C competitors, etc., is common for all e-commerce sellers; however, some manage to follow through with the agreement and achieve their profit margins. Brands can reward such retailers with higher margins, relaxing rules during occasions like Ramadan, Navaratri, Easter, etc., sales, or making them stars in internal communities. Motivating rewards through such rewards can significantly encourage other eCom sellers and re-sellers to take a similar approach. Build Better Communication Channels The recent changes in laws, rules, or guidelines may not reach a common retailer or garner interest unless the brand notifies them about them. The MAP agreement policy might remain intact; however, new opportunities for optimally increasing revenues for brands and retailers may continuously arise. Therefore, brands should take initiatives to communicate useful information that may offer dual advantages continuously. Such an activity would harness better communication channels and resolve common problems faced by retailers due to the ongoing MAP agreement policy. As a result, brands could witness lower MAP violations and higher sales on eCom marketplaces. Harness Goodwill Through Retailers Another method of diminishing MAP violations across eCom marketplaces is by harnessing the goodwill of the retailers. It means that brands should make efforts diligently to reward retailers for achieving high-profit margins while following the MAP agreement policy. By highlighting retailers within internal channels and patting their backs, brands get a chance to achieve the retailer’s goodwill. Moreover, it enhances the chance of good word-of-mouth communication among the peers of the retailers. As a result, brands can expand their goodwill community of retailers in the long run. Enforce Specialists for Revoking MAP Violations Building retailer goodwill, creating better communication channels, and cultivating an environment of trust can prove useful but may not grab the attention of all retailers. Therefore, monitoring MAP violations and enforcing a team of specialists for revoking ongoing & upcoming instances becomes necessary. eCom Competitive Analytics, a.k.a., mScanIt, proves a useful solution backed by a team of data scientists for achieving this goal. It incorporates the parameters designated by the brands and uses them to track deviations across eCom marketplaces. Besides the set KPI deviation alerts, brands also get a fighting chance to deal with retailers through the real-time insights curated through technology. Another advantage of using an automated system for tracking MAP violations is that the brand learns about the competitor prices of similar products across platforms. Navigating into deep-diving helps in enhancing pricing intelligence. Final Words Stopping MAP violations across eCom stores safeguards brand reputation and maintains retailers’ profit margins. However, tacking this problem manually is not humanly possible due to the growing number of counterfeit or duplicate product sellers. As a

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Brand Building Through Online Banner Ads

Leave a Comment / Blog, Digital Shelf Analytics / Noopur Mathur

Display banners are one of the best ways of communicating and catching consumers’ attention, especially on e-commerce platforms like Amazon, Big Basket, and Flipkart. A banner ad is an image accompanied by text and could either be animated or static. Customers who find the banner ad’s content and display interesting often click it to visit the landing page, i.e., usually a product or company page on an eCom website. It reduces search efforts and helps the consumer to reach the desired product directly while communicating the best offers for the product. Brands have realized that banner ads remain memorable for a long time and have a higher recall value. According to Statista, the overall digital display ad spending in 2021 reached $1,633 billion, and ecommerce accounted for 14% of the ad budget. Moreover, as per another report, the share of display banners was 10% of the ecommerce digital ad expenditure in 2020. Banner ads help in creating brand visibility which eventually lifts the business performance. According to a source, customers retargeted through banner ads often convert 70% of the time, and they are 33% more effective than billboards. Banner ads also help a new brand to build its identity. Besides, customers build trust in a brand and learn about innovations through banner ads. However, the advantages of banner ads extend beyond these reasons for marketers and advertisers. 3 Main Reasons Brands Use Banner Ads on eCom Platforms Large Visibility of the Brand Advertisers can use 728×90 pixels for desktop & tablet users and 414 x 125 pixels for mobile users on Amazon. Given the maximum size of the image, it is inevitable that the brand’s visibility will also match the dimensions to meet the consumer’s eye. As a result, ecommerce spaces offer an opportunity to display large brand logos and increase the brand’s visibility. Moreover, consumers are often targeted through such banner ads on eCommerce marketplaces, which increases the retention of the brand in the minds of the consumers, association of a brand with a product/feature, and directly impacts the conversion rate. Great banner ads can uplift conversions by 2%, according to a source. Given that the quarterly conversion rate in 2020 was 2.17%, such a boost would undoubtedly make a difference in revenue/sales. Cost-Effectiveness According to a source, the minimum average cost per click on Amazon is $0.03 but can vary based upon the industry, competition, and your brand’s ad budget. Similarly, another source reveals that the minimum cost per 1000 impressions (CPM) can be 50 cents. Therefore, a display ad on an ecommerce website can be visible to the targeted audience for thousand times for as low as 50 cents. Moreover, the CPC and CPM for banner ads on ecommerce are relatively lower than TV ads, billboards, press releases, and physical newspaper ads. So, it doesn’t put a hole in the brands advertising pocket. Improved Market Response Rates According to a source, targeted displays enhance conversion rate by 30%. Moreover, display ads increase brand recommendation by 10%. eCommerce websites often have product launches, including registrations, early-bird offers, one-day early access, etc., as events. A source states that display ads like banners can enhance event registration by 25%, which could essentially include such events on ecommerce websites. However, banner analysis requires a solution that helps create & evaluate different banner strategies, and learn about the competitor practices, wherein eCom Competitive Analytics comes into play. How mScanIt Banner Analysis Helps Brands? eCommerce Competitive Analytics, a.k.a., mScanIt, encompasses banner analysis, enabling brands to evaluate the best positioning for the ads to boost reach to the target audience. Doing so helps brands to decide on their advertising budget. Moreover, ecommerce intelligence solution, powered by mFilterIt, can categorize the communication mentioned on the banners into different themes like discount, sale, festive offer, and cashback, which can trigger the brands to use the best keywords in their campaigns. Conclusion Developing an effective banner ad is crucial for ecommerce brands; however, so is measuring the results of the display ads. Simultaneously, eCom brands must know the practices of their competitors to acquire an edge, build new strategies, optimize budget, etc. eCom Competitive Analytics helps brands across continents to achieve complete banner analysis on prominent online marketplaces like Amazon, Big Basket, Flipkart, etc. By doing so, brands achieve a full-scale measure of the effectiveness of their banner ads. The insights triggered through the solution also display measures/actions that can enhance the performance of the banner ads on ecommerce stores.

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