Digital Shelf Analytics

Awareness Phase: Road to Reach The Top Shelf

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

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

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Bricks to clicks: Brands expanding their footprints

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

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 commerce, 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: What Makes Shoppers Pick Your Product?

Leave a Comment / Blog, Digital Shelf Analytics / Praveen Dhama

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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How Can Competitive Pricing Analysis Boost eCommerce Growth

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

Things are changing rapidly in the digital commerce arena. A lot of smart, socially conscious, and sustainable D2C startups are entering the fray, each one telling the customers why they need to rethink product choices and buy only the products on offer. While that is the job marketers must do, what they need to remember is that for online shoppers, price is still a key consideration. You might hear that product pricing is no longer relevant, and customers prefer quality over discount now. That might be right for particular cases and luxury commerce products but the comparison of average prices and trying to get products at lower rates is something that always attracts online shoppers. Barring some instances, customers tend to do a thorough pricing comparison to identify the best deals and buy from sellers that offer more suitable prices. That is where the challenge lies. There are new brands entering markets almost every day and it is humanly impossible to keep track of the product pricing of each new player. When you look at a platform like Amazon, chances are that sellers offer a discount that causes variations in the pricing of the same item, and customers would naturally go for the seller that offers the best value. Competitive pricing analysis and smart product pricing is the only way to beat the competition, and for that, digital commerce players need to use digital commerce intelligence tools that enable the monitoring of price trends and facilitate data-driven dynamic pricing. What is Competitive Pricing Analysis? Competitive pricing analysis is the process through which digital commerce brands can undertake competitive analytics of the pricing strategies of their rivals. They can monitor price trends, and choose competition-based pricing. When such pricing strategies are adopted, brands can identify and cover the market gaps by ensuring that they offer discounts or pricing that makes the products more appealing to the customers than the competition. Let’s take a deeper look at some of how competitive pricing analysis can boost eCommerce brand growth across the digital commerce ecosystem. – Outpacing the competition: One of the biggest benefits of undertaking pricing analysis is that it enables brands to monitor price trends continuously, and they can base their pricing decision on the prevalent trends. You can sweet spot the pricing and outpace the competition through such smart pricing strategies. – Formulating a data-driven pricing strategy: Since competitive pricing analysis empowers brands to monitor market trends, you can use the right competitive analytics tools to understand the price metrics and figure out the best average price for the product. This ensures that the price is neither high enough to discourage the customers nor too low to make you lose out on potential revenue. You also get to identify which products are popular and trending, and which ones are not, and adopt a dynamic pricing strategy to boost sales accordingly. – Tracking MAP (Minimum Advertised Price) violations (also called Pricing violations) A study revealed that 50% of the time, unauthorized sellers ignore a brand’s Minimum Advertised Price (MAP) guidelines. These violations adversely affect a brand reputation and also reduce profit margins. That is why you need to monitor the minimum advertised price violations. However, it is almost an impossible task manually since there are going to be a large number of products on multiple eCommerce marketplaces. For instance, an authorized seller be selling product A above MAP, but someone else on another portal could be selling it at a 5% lower price. You won’t know it, but will bleed sales and revenue. That is where it is extremely important to use digital product pricing trackers that can identify minimum advertised price violations and enable remedial action by your brand. If a product is sold below the threshold price it could severely hamper brand reputation. – Offering Attractive pricing and discounts boosts customer acquisition and retention When you undertake pricing analysis and monitor all pricing trends, you can create pricing strategies that are competitive and attractive. Customers would not only buy from you but keep coming back if they perceive the brand as value-for-money and trustworthy. In the competitive environs, where customer acquisition is getting costlier by the day, and greater lifetime value (LTV) through customer retention is key to growth, this is one advantage you can’t overlook. Conclusion There is no doubt that modern-day consumers are usually more aware, conscious, and better informed than the average brick-and-mortar store customers. However, pricing still holds the key to market dominance and acquiring more customers quickly. By adopting digital pricing analysis tools, you can create pricing strategies that are more profitable, sustainable, and appealing to the target audience. mScanIt, Digital commerce intelligence is the key to expanding the customer base and staying ahead of competitors across the digital commerce landscape. Get in touch to learn more about pricing analysis.

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How to boost product discoverability with keyword recommendation

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

Most shoppers know what they want, approximately 43% of shoppers go straight to the search bar Whenever we want to buy anything online whether it is a grocery item, a gadget, or a pair of shoes, we would invariably type in the words that describe what we are looking for. It could be ‘black running shoes’ or ‘basmati rice,’ or ‘best smartphone under 50k’ and so on. Typically, what customers look for is the type of products and often not a specific product from a particular brand. In the eCommerce setting, the search results will show a brand’s product in response to a query containing such organic keywords only when the brand has integrated the right approaches toward SEO keywords along with key elements that makes products more discoverable. What is Product Discoverability? In the e-commerce landscape, large aggregator marketplaces have such extensive options for each type of product that the customers can’t look at each offering that matches the search. Even if you sell a white shirt and the customer is looking for the same on Amazon, they might not see your product. That is why brands need to understand the customers, and their intent to purchase a product, and then present the product closest to what the customers seem to be looking for. Smart product discoverability tactics enable brands to display the products likely to be the best matches for the customer’s search. When customers can see the right products faster and get better offers, chances are that sales conversions will be higher. Role of Keywords in Product Discoverability 1. SEO Optimization Product discoverability is critical for digital commerce players. Whenever customers search online for your type of products, they should be able to see the brand. This is what we can achieve through SEO optimization. The first thing that a brand needs to do is to use the right keyword. A keyword analysis is key to identifying the relevant keywords that the audience is most likely to use for searching the products. These tools would analyze search volumes, competition, and various other factors that can improve the search rank of the keywords that you use. Companies also need to analyze the keywords that competitors are using. When a competitor’s products are ranking high, you can analyze and find out what keywords are working best, and use similar keywords in your product listings. However, it must be kept in mind that the content used in your product description should appear genuine and contextual, and you must not stuff keywords for the sake of it. Usage of long-tail keywords (phrases that are more specific than generic) in product descriptions, titles, or tags, enables greater product discoverability to the real-time audience. Product titles are a vital aspect of this strategy and they must always be optimized through high-ranking keywords. Regular, real-time performance analysis of keywords would boost the share of the shelf in the digital commerce ecosystem, and the brand would be able to scale search rank in a way that reduces the need to spend more on keyword bidding. Most shoppers know what they want, according to a survey by Catalyst Digital 43% of shoppers go straight to the search bar which makes keywords more important for product discovery. Further, several obstacles in product discoverability can be overcome by smart SEO strategies. For instance, the search ranking of product pages is affected by the content, imagery, and information that is provided on the page. By using good quality images, text that is easy to understand, relevant, and authentic and the addition of further details about the product can lead to superior discoverability. 2. Expand The Reach of Products Expanding the reach of the product implies that it is made available to a larger audience through multiple channels. You can optimize product listings on e-commerce marketplaces like Amazon and Flipkart etc by improving titles, and tags, and adding images and videos that can better display the products. Another key channel to expand its reach is social media. Most digital commerce brands use platforms like Instagram, Facebook, and YouTube to engage audiences across different regions and boost sales opportunities. Running advertising campaigns featuring sponsored keywords on Google Ads is likely to help find more customers looking for products in the category that you offer. Such campaigns should also integrate discounts and promotions as consumers relish great deals that save money and deliver value. Such promotions also help in generating buzz and increase brand visibility. One of the most impactful options to expand product reach is to optimize the product listings for mobile viewers. Mobile commerce through smartphone apps is already big and enables users to find products. 3. Monitor the Brand’s Organic and Sponsored Discoverability Once the brand’s organic and sponsored discoverability is boosted, it is also important to monitor the same and continually analyze the performance for improvement areas and greater outcomes of the keyword bidding activities online. It is important to regularly revise and monitor keyword performance and keep replacing low-performing keywords with other relevant options. Using advanced AI-powered digital commerce intelligence tools with keyword recommendations to monitor search rankings, keyword performance, and discoverability with a comprehensive dashboard can exponentially boost discoverability. 4. Monitor keyword-based digital Share of Shelf performance Digital share of shelf performance monitoring requires constant tracking of the product/brand visibility in the SERP. Setting up tracking through an advanced digital tool that would help in tracking search volumes, and analysis of snippets, images, and videos to help in the identification of best-performing content is essential. At the same time, one needs to monitor the share of the shelf for the competitors and as mentioned earlier, analyze their keywords and content strategies. 5. Track and analyze discoverability trends vis-à-vis competition across e-commerce marketplaces It might be challenging to track and analyze the discoverability of your products on eCommerce marketplaces, especially in comparison to the competition, but through a smart and strategic approach, it is doable. What you need is to clearly define the metrics that have to be tracked. Whether

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Omnichannel Commerce – Gateway to The Open Internet Sales

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

Gone are the days when customers were solely reliant on shop visits or logging into their desktops to do online shopping. Today’s customers are making purchases while in bed (43%), at work (23%), during their commute or even from the bathroom (20%), and almost at any hour of the day from their smartphones. Therefore, it is clear that for any retail brand especially in the eCommerce domain, growth lies in building an omnichannel eCommerce presence. What is Omnichannel eCommerce? Omnichannel retail is an integrated sales approach that puts customers first. Unlike the conventional practice of using marketing tactics to draw customers to a specific website, omnichannel retail integrates websites, smartphone apps, social commerce, eCommerce marketplaces, and even physical retail outlets to reach customers wherever they are whenever they need the type of products and services that the brands offer. In omnichannel retail, the different platforms don’t operate in silos, but everything gets seamlessly integrated to optimize the customer experience. Thus, building an effective omnichannel presence requires the elimination of the boundaries between different sales channels and allows customers to make the purchase through whichever touchpoint they are on. Why should brands go for Omnichannel eCommerce? It helps brands reach new customer segments – Customer preferences are rapidly changing and today, different categories of online shoppers have emerged. Despite the fluidity, there are a lot of customers who relish sticking to their preferred mode of shopping only. For instance, the millennials and Gen Z use smartphone apps to make purchases, and shopping through social media platforms like Instagram and even WhatsApp is gaining popularity among Gen Z. There are some who love to shop on eCommerce platforms as they offer massive varieties and price options, whereas others prefer brand websites as they are more concerned about the genuineness of the product than anything else. With the Omnichannel approach, brands can get all customers. Seamless Purchase – Omnichannel retail significantly reduces the risk of cart abandonment which was common in the era when shopping was done only through websites. Customers may add a product to the cart on a website and might want to purchase it hours later through the web app while commuting back home. Omnichannel retail helps convert such variable scenarios seamlessly. The customers get a hassle-free and consistent experience despite switching mediums. It also boosts customer loyalty. Better sales – The convenience of shopping through omnichannel eCommerce is helping brands acquire more customers at a faster clip from multiple sales channels. The customer being able to make a purchase when and where they see it opens up new revenue streams. Live commerce, social commerce, and eCommerce retail stores or brand online store are all new shopping avenues leading to more sales and enhancing brand visibility. This speed and convenience for the customers are also helping the brands and retailers increase cart size. Thus, there is a great boost to the sales. Future of Omnichannel eCommerce The era of Social Commerce – India is right at the cusp of a social commerce boom. Tier 2, Tier 3, and beyond shoppers are the biggest adopters, and recommendation-based, suggestion-based purchases are major drivers for brands in these areas that house nearly 70% of India’s population. It is estimated that the social commerce market size is going to grow from $8,258.8 million in 2022 to over $143,583 million by 2028. Brands in the fashion, beauty, and personal care domains are getting a lot of growth through the social commerce space, and even electronics and gadgets are witnessing a rise in shopping volumes. With the constant increase in smartphone penetration and better internet speeds, this space is unmissable for any retail business today. Live commerce Live commerce, as the term indicates is a sales channel wherein live streams are held, and customers can purchase products in real time. It is different from teleshopping because as a customer you are not watching pre-recorded content and are not bugged to make a call. You can simply watch a live stream on a social media platform, eCommerce, or live-commerce platforms, engage with the brands, enjoy the entertainment, and click on ‘buy now’ to complete seamless purchases, just the way you do on an eCommerce marketplace app. It is a new shopping avenue that is being explored by large and small brands alike. A RedSeer report estimates that live-commerce sales will grow up to $5 billion in India by 2025. Brands don’t see Live commerce as just a sales channel, but also an excellent medium of customer engagement and influencer marketing. You may see a great product in a live stream, and even if you don’t buy it then and there, you might research and purchase it later through other eCommerce options. SUGAR Cosmetics has already participated in such sessions on Myntra and Nykaa and got encouraging results. Going forward, the fashion segment is expected to achieve 60-70% live commerce growth, Beauty and personal care and other segments would make up for the remaining 30-40%. Visibility generation through such activities includes the launch of Hero MotoCorp’s Hero Xtreme 160R Stealth 2.0 bike and the session had a viewership of over 2.6 lakh. Several other Indian brands are also leveraging Live commerce sessions on eCommerce platforms. Role of social media Influencers in social and live commerce Social media influencers play a critical role in this arena. Influencers are people trusted by shoppers from all over the country, especially the Tier 2 and Tier 3 cities. When they are integrated into live commerce or social commerce campaigns, users get a personalized and familiar experience which boosts chances of conversion. The influencers are content creators with whom regular social media users engage on a one-to-one basis. Most of them conduct meetups, and live-streams to build engagement and trust among the audience. Thus, when these influencers recommend a product, those followers who are actively looking for such products are most likely to seriously consider the recommendations and make purchases. Influencer marketing is also highly instrumental in driving awareness. For instance, Amazon unveiled its live

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Augmented Reality in eCommerce: The Future of Online Shopping

Blog, Digital Shelf Analytics / Praveen Dhama

Augmented Reality is taking the customer experience to the next level with eCom platform optimization Leap imagination and turn it into reality. It might be a tough task in life but now possible with product previews on eCommerce platforms. Need not imagine how a lamp would look on the bedside table or wonder will this lipstick shade suits my lips. All you need to do is click a picture or video upload on the eCom platform and see how that product fills the blank space with Augmented Reality. The lack of a full sensory product experience is a major obstacle in online shopping. Physical stores allow you to try on clothes, feel fabrics, or visually assess the size of a couch in a space. However, with augmented reality (AR) applications, customers can gain more comprehensive product information without leaving their homes. Let’s dig deeper to understand how Augmented reality is paving new ways to optimize customer experience and eCom platforms as well. Augmented Reality in eCommerce By using Augmented Reality for product display eCommerce marketplaces and brands are steadily moving towards providing customers with a more inclusive and immersive experience. A real-world-like environment with an interactive enhanced experience via digital elements, visuals, sounds, etc. Allowing shoppers to watch products in 3D or preview in their environment virtually like placing the item say a sofa in the space in your living room. In simple terms, Augmented Reality (AR) simply augments an existing world. Augmented Reality (AR) provides previews by placing items in a real-world scenario. For example, try out frames on Lenskart after uploading your headshot video, ‘Amazon view’ which enables shoppers to try on lipsticks by uploading pictures or live video, and an AR-powered ‘view in my room’ feature. Think back to Pokémon Go, one of the most well-known applications of augmented reality. Users would be playing the game while walking down the street, looking at the real environment through their phones, which overlaid digital characters in specific places. Augmented reality is taking off rapidly. More & more advertisers and brands are deploying it to enhance customer experience. A report by eMarketer stated that over 43 million people in the United States, which is approximately 21% of social network users, were expected to use social network AR monthly. The same report indicated that 35% of U.S. respondents had used AR to customize furniture or vehicles. This is not just relevant for the U.S. but quite evident in the global digital commerce landscape, especially in India where shoppers from tier-2 and tier-3 cities are warming up to online shopping with massive buying potential. With the increase in 5G availability and improved bandwidth, retailers are expected to show more interest in AR and VR experimentation. As a result, more brands are adopting AR product previews, such as “Amazon View” and Flipkart’s “View in My Room”. AR is particularly popular in the Beauty & Personal care segment for try-on purposes and in Home Décor & Furniture placement in a room. How are eCom businesses using AR? AR previews of products help customers make a purchase decision and make the shopping experience more personalized. – Virtual Try-On: It’s just like in a brick-and-mortar shop where you see a product on a mannequin, it looks great. But trying it helps make a more accurate purchase decision. Similarly, the virtual try-on uses the shopper’s photo or video to preview how the product looks. This also helps buyers understand what they are buying and if the item works for them. – Preview placement: For the Home décor and furniture segment preview placement is the perfect tool to attract shoppers. It helps place items in your room at your desired place. Shoppers can see how a 55’ inch TV would look on the wall or will that color and design bed will suit their bedroom. The real-time preview placement of products in Shoppers’ environment will help shoppers decide whether the product suits their needs or not. – Interactive user manuals: This is the more extensive use of AR-creating manuals as a response to user actions by scanning product indicating buttons or using graphical arrows, animation, etc. – Social media filters: Generally used for fun. Filters can also be used for try-ons. That can help boost social commerce sales. It can be used to showcase a new product by enabling people to test out how it’ll look on them. According to a survey conducted by Google on AR usage among consumers, 66% of the participants expressed their interest in utilizing augmented reality technology to aid them while shopping. How Augmented Reality can help eCommerce brands? The challenge of representing a physical product in a virtual environment is one of the biggest obstacles to eCommerce. AR technology has the potential to help overcome this obstacle by providing a more accurate representation of the product and helping customers understand what they are buying. Some benefits of using AR technology in eCommerce are as follows: Increase customer engagement: By offering an interactive experience, AR technology can encourage customers to stay on your website longer, increasing the chances of a purchase. Even if they do not buy it immediately. Engagement with the brand and product can lead to better recall in the future. Reach new customers: To stand out in a crowded market, you need to create a buzz. A well-executed AR campaign can help capture attention and attract new customers. Reduce returns: AR technology can provide customers with a more comprehensive view of the product than static images or videos. By showing how a product would look in a consumer’s space, AR technology can help reduce the likelihood of returns due to unmet expectations. According to recently published data by Shopify, an eCommerce platform, products that featured VR/AR content in their advertisements experienced a 94% increase in conversion rates compared to products that did not have such content. Final Thoughts – What’s Next? Augmented Reality is interactive and helps during the product evaluation and consideration phase of the customer journey which leads to purchase decisions,

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BRAND SENTIMENT: Do You Know Who Is Saying What, Where & Why?

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

Listen To Everything Said About Brands and Products Across social media eCom Platform “Kuch toh log kahege, logo ka kaam hai kehna!” (People will always have opinions, this is what they do) but the voice of an eCom shopper cannot be left unheard or dismissed as useless chatter. Opinions and experiences of shoppers matter when it comes to the digital commerce ecosystem. Brands must be aware of every single word said about them be it customer reviews, shoppers queries, lashing-out tweets, gentle words of appreciation, or simple suggestions. Every sentiment needs to be monitored and analyzed as it deeply affects brand reputation. But why? The answer to this why” is a little complicated but here we are going to simplify the brand sentiment what it means and its impact on the brand. Building brand reputation is a continuous extensive process that comprises multiple factors. Brand messaging is one such factor that drives brand sentiment. So, Let’s dig deeper and find out why it matters so much. According to a survey, 76% of customers claim they would quit a business that fails to respond to a negative social media post while 82% of customers expect brands to respond to their social media posts within 24 hours. The Good, The Bad, And The Ugly Brands must be aware of every kind of sentiment about their products and brands. Evaluating Brand sentiment is critical for brand health and the reputation of the business. Let’s presume a case where a customer got a wrong color item or some part or accessory is missing, leaves a negative review, marks for return or replacement along with venting out on social media. Just imagine what an unresolved tweet can do to a brand’s reputation. This makes social listening and quick follow-up critical to brand reputation. The digital commerce landscape is cut-throat and competitive It’s not just about social media conversation and customer sentiment about brands but even cross-platform conversation also needs to be monitored. Brand sentiment also covers understanding and analyzing what people feel about their interactions. Brands must carefully monitor this dynamic and enhance those aspects that leave a positive impact and enhance customer experience! How people feel about your business or product can have a huge impact on product sales, brand loyalty, and customer retention. Lend Your Ears Are You Listening? The most powerful element in building a brand reputation is word of mouth the experience leads to voices, and voices turn into opinions. These opinions shape the buzz about the brand. For example, let’s consider the case of TATA Nano, a pocket-friendly car with a budget of the middle class that faced a major bump in the market as it got labeled as a cheap car. It is important to ensure what the brand wants to convey about the product matches the target audience’s interpretation. Brands need to pay attention to what people are saying. Being aware of how the brands are responding is crucial to product performance in the market. Brands need to stay alert in real time to track sentiments across the digital ecosystem. This includes understanding. Context and tone of sentiment Subjectivity of sentiment Change in sentiment over time Source of sentiment Understanding sentiments will help brands categorize sentiments and grade them accordingly. Brands need to keep track of word-of-mouth mentions and respond accordingly. Perks Of Tracking Brand Sentiments Tracking brand sentiment is like social listening crisis management under one roof. According to a survey, 88% of people look for opinions online before making a purchase. Finding your brand mentions and making your presence felt is an important step toward upswinging brand digital efficiency. Turn the insights into action by monitoring and analyzing brand sentiments across the digital ecosystem. Here are some core benefits of being aware of brand sentiments: Improved Customer Satisfaction Respond swiftly to Customer feedback Ensure customer retention making customer opinion/experience feel valued Understand the target customer and what makes customers happy Understand your industry segment Identify threats or opportunities Improve marketing strategies Data Driven decision making What Brands Should Do To Improve Brand Sentiment? The reputation built by positive words about the brand or product is what propels sales and helps acquire new customers most organically. The way brand sentiment shapes up decides the fate of the product. The challenge lies in identifying sentiments and responding to them swiftly as the more time negative feedback is spent in the digital landscape the more damage it does to brand reputation. So, what can the brands do about it? Relentless Monitoring The digital space keeps on evolving at a rapid pace. The monitoring and analysis process should be relentless and continuous to keep up it. A comprehensive system should be in place for automated sentiment monitoring with actionable insights to support data-driven decisions. Swift Response Make sure customers feel valued. Personalized responses to negative feedback will go a long way in building brand trust and loyalty. This will help the brand handle the problem before it turns into a crisis. Make strategies more adaptable The strategies that can turn a crisis into opportunities. Understand customer sentiment and respond accordingly. Never miss a conversation about your brand monitor Twitter, Instagram, Facebook, YouTube, Pinterest, News, Blogs, and the entire world wide Web including the eCommerce marketplace customer feedback reviews and QAs. Track every social channel Join conversations about your brand Keep an eye on the competition Manage your reputation online Final Thoughts Be Sensitive to Sentiments ‘Whats in a name? In the digital commerce landscape everything. As any mention of brand or product name matters. Brand sentiment plays a pivotal role in building brand reputation and value across the digital ecosystem and beyond. Social Listening, digital commerce intelligence with sentiment analysis, and optimizing customer experience are the core digital efficiencies that every brand should strive for in the digital landscape. Omnichannel Shopping including Live Social commerce and expanding geographical outreach of digital commerce retail is opening up new avenues for shoppers. Now shopping has become more interactive where shoppers can directly engage with the sellers or brands. Knowing

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Amazon Buy Box: 5 Ways to Win It

Blog, Digital Shelf Analytics / Praveen Dhama

Buy Box is the fiercely contested prized possession of sellers in the eCommerce arena. The battle is for the shoppers’ attention as sellers’ success and growth on the eCommerce platform mostly depend on it. According to a research report, approximately 82% of all sales get converted due to the Buy Box. The fact clearly, reflects why every seller seeks Buy Box on the eCommerce platform. Amazon Buy Box is the most coveted need of every seller on Amazon, the world-leading e-commerce Marketplace. So, take a closer look and find out how to win an Amazon Buy Box. What is Amazon Buy Box? Simply put, it’s a CTA that takes a shopper directly to the purchase page and leads to a swift purchase. But not every seller has it. Let’s first understand why it’s so valuable and what makes sellers eligible for a chance to win the buy box. Amazon has mainly 5 types of sellers – Manufacturer & Direct-To-Consumer (DTC) Brands, which Produce and sell their products under their brand names, Private Label Brands, which Sell products manufactured by a third party under a different brand name, Factory Brands, sourced from often overseas factories and go direct to global consumers with more often at comparatively lower prices, Resellers, who buy products in bulk and often sell them at a higher price to make a profit and Aggregators, Companies that purchase multiple Amazon brands to consolidate and grow them. Broadly they can be put into two selling methods Amazon itself, 1st party sellers sell wholesale to Amazon and Amazon acts as the retailer selling to customers, and 3rd party sellers sell directly to customers via the Amazon Marketplace. Buy Box quickly takes shoppers directly to the purchase page, avoiding spending time considering whom they are buying from Amazon or 3rd third-party seller. Only businesses with excellent seller metrics can win an Amazon Buy Box. Not every seller is eligible to win a Buy Box. Why it is important? Nearly 80% of all Amazon’s sales come via the Buy Box. In 2021, $389 billion worth of sales among net revenue of over $469 billion came from Buy Box purchases. This clearly, reflects Amazon Buy Box Win boosts sales. Sellers must meet the following metrics* to win the Buy Box: Key Matrices Requirement Order Defect Rate (ODR) < 1 % Cancellation Rate (CR) < 2.5 % Late Dispatch Rate (LDR) < 4 % Valid Tracking Rate (VTR) > 95 % On-Time Delivery Rate (OTDR) > 97 % Invoice Defect Rate (IDR) < 5 % *Subject to changes as Amazon keeps raising the bar on eligibility to win Buy Box. 5 Ways to Win Amazon Buy Box Sellers having significant order volume and quality products can strive for Buy Box. Here the quality of products is measured via Seller Controllable Return Rate (returned or refunded due to product-related issues) and Customer feedback & ratings. Amazon keeps on raising the bar, The digital e-commerce Seller needs to ace the performance matrices to boost their chances of achieving more Amazon Buy Box wins. Here are a few ways sellers can boost Amazon Buy Box win percentage. High-quality products: A genuine and high-quality product can delight the shoppers reduce return requests, curb defects and enhance customer ratings which lead to higher chances of Buy Box wins. Optimize Products Listings: Product listings are like the physical storefront, where shoppers get attracted by the looks, title, and description. Create product pages accurately with high-performing keywords, bullets in descriptions with product features, and high-quality product images. Cataloging and categorizing products are also crucial to avoid customer confusion. Offer competitive pricing: According to Amazon, you can automatically increase your chances of winning the Buy Box by listing your product within 5% of the current Buy Box price. Optimize Delivery Turn Around Time: Amazon customers expect to receive their orders by the estimated delivery dates and delivery leads to a higher win box %. Respond to negative feedback: High rating & review leads to a higher boy box win percentage. Amazon always strives for a high customer satisfaction level. 92% of customers say they will buy again from a brand if the returns process is easy. That’s exactly what you need to focus on by offering hassle-free returns and exchanges, leading to a positive return experience. Final Thoughts – Keep Your Eye on The Digital Commerce Landscape The bottom line is performance optimization is key to upswing Buy Box win percentage. The massive product range and variants on Amazon means cut-throat competition. A pinch of slip-up by brands and sellers can lead to a loss of sales and customer drop-off. To prevent such fallacies and boost chances to Buy Box wins brands and sellers must plug in e-commerce analysis. Keep an eye on multiple product performance matrices like product share of Shelf, visibility share, the content of product page, product stock availability, pricing, delivery turn-around-time, etc. The actionable insights and dynamic dashboard of mScanIt, an e-commerce competitive analysis can help brands optimize their customer journey on multiple touchpoints. It keeps track of sellers’ performance and Buy Box wins across geographies and digital commerce platforms. The Buy Now button on the product page is the ladder that takes your product to the top amidst the vipers of competition waiting for you to slip up. eCom is not a game of snakes & ladders it is a place where data-driven decisions thrive and earn multi-fold sales with Buy Box wins. Get in Touch for more information about Amazon buy box.

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eCom Platform Marketing Service: “Everything Everywhere All At Once”

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

Yes, you read it right. But we are not going to talk about an Oscar-winning movie. It is about a complete Marketing console in one place, eCommerce Platform Marketing Services like what Amazon provides for its sellers. The eCommerce giant Amazon has expanded and enhanced the services for its shoppers and sellers alike. The integrated comprehensive marketing console, Amazon Marketing Service (AMS), helps Seller control and monitor how the product does on the platform and organize what it needs to boost performance. The collection for several Amazon services for sellers, AMS has tools for Amazon Sponsored Brands, Amazon Sponsored product management, and Amazon Display Ads. But the question is – Is it enough for the brands and sellers?1 Let’s take a deeper look at the platform marketing services and highlight ways to optimize services like AMS. What does AMS do? Why does it need optimization? While all other eCommerce platforms are evolving in terms of Advertising Services provided, Amazon is leading or could say dominating in it. The massive presence of Amazon in the eCommerce Retail domain led to the rise of a fiercely ecommerce competitive landscape. As a brand, business, or seller here you are running against thousands of others running a race against every evolving algorithm. To stand apart and reap high profits, brands need to advertise with a clear understanding of segments and competition. Platform Marketing Services like AMS Provides Complete Amazon Advertising Console Support for Amazon Sponsored Products, Sponsored Brand Ads, and Amazon Sponsored Displays. The competition is fierce in a global marketplace like Amazon. Most online advertising platforms allow you to pay for impressions and clicks but Amazon takes a different approach. As it provides an option to choose how much you want to pay when a shopper clicks on the ads. This provides hands-on control over the ad budget. This also impacts the conversion rates based on the strong purchasing intent of the audience. They also streamline it to provide advertising reports. They may not be the best ones to get deeper insights into customers’ search patterns, but they are extremely useful to understand what works for you and what doesn’t. This created the need for optimization of marketing services provided by the platform to save time and money along with enhancing brand recognition. Challenges for Sellers using Amazon Marketing Service – No Visibility of High-Performing Keywords: Identifying high-performing keywords plays an essential role in making effective campaigns and efficient product display pages. Building a comprehensive keyword bidding strategy is key to the upscale product. Brands or Sellers must be aware of high-performing keywords that work or don’t work. – Time-consuming and prone to manual errors: The need for an auto-generated response is key to reducing the time consumed and mitigating errors caused by manual entries. Tracking performance and managing optimizations can lead to greater achievements. – No Standardized Automated Process: Standardized processes are needed to avoid hit & trail elements like keywords bidding. High returns are expected if the standard processes and data-driven decisions are used for AMS. – Missed Opportunities with Uncertain Returns: Ambiguous returns of advertising campaigns need to be consolidated and sustained with a clear process in place to boost advertising performance. Perks Of Platform Marketing Service Optimization Optimize Ad Campaign- Reduce Ad Spend Optimization of Platform Marketing Services empowers eCommerce Platform Advertising Campaigns. Full-fledged coverage is provided from setting up your different Ad Campaigns (Own, Competition, Generic) and managing your budget in Ad Groups via AI-based Automated System. Advanced Automated Solution raises your advertising game Crystal Clear Data for better understanding to drive overall sales Business decisions driven via actionable insights lead to sustained growth Saves hours of manual work by bypassing Amazon Advertising complexities 1. AI-driven marketing Optimization Amazon Advertising Campaigns gets a boost through AI & ML, keeps track of the performance of the keywords and help adjusts your campaign budget to maximize your Return On Ad Spend (ROAS). The sophisticated AI is used to automatically turn competitor keyword bidding ON/OFF depending on the stock availability of the competitor. Completely Automated Process Product code Bidding Keyword Bidding Comprehensive Budget Planning 2. Continuous Optimization of Keywords Identifying and monitoring keywords should be a continuous process as the bids need to be optimized according to the keyword performance change. The use of AI can turn on/off bids on keywords, based on Keyword performance. The campaign performance can be optimized by bidding on high-performing keywords. Brands or sellers need to be aware of keyword performance on a real-time basis to optimize the campaign and avoid waste of ad spending. The Return on Ad Spend (ROAS) can be optimized with an automated process in place. 3. Effectively Optimizing Ad Budget Platform Marketing Service Optimization boosts campaign performance not just by optimizing Campaign Spends and deciding what amount to spend but also how and when to spend it. The click and traffic analysis can help generate automated bid prices and empower budget shuffle across multiple ad campaigns for optimal ad spend utilization. 4. Adding Value to Brands The optimization of advertising services raises the brand’s advertising game. Plugging in automated solutions for optimization can add value to the services. Improvement in ROAS and Conversion Rate is a key value addition to the brand performance with data-driven decision-making. The automation of the process reduces advertising complexities and saves several hours of manual work. Final Thoughts Marketing on eCommerce platforms has eased with comprehensive marketing services provided by the platform but that’s too much manual work considering the massive number of products and wide geography to cover. The Optimization of platform marketing services automate systems and reduce ad budget by making ad campaign more effective. mScanIt eCommerce Intelligence Solution can help guide brands or sellers to automate and optimize advertising strategies on the eCommerce platforms. With the pace at which advertising is evolving, it’s important to get hold of things swiftly as any lag in strategy can push back your brand way behind other sellers or brands. The digital commerce universe is so much bigger than you realize. Brands need

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