Anukriti Jain

live-commerce

Live Commerce – Buy it when you see it

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

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

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

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

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

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QSR – Delivering Tempting Prospects

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Your order is on the way!” These words set up a flurry of emotion for those who crave a quick bite. The QSR players need to tap into these dwindling emotions to provide a frictionless customer journey with ease of ordering to on-time delivery ensures higher ratings and review and of course, the food needs to be good to deserve that. But before all of this, your product needs to be picked by the customers. The prospects of growing QSR industry in India and globally are immense. The rise in internet penetration and shift in food ordering habits of new generation consumers. The focus is on optimizing customer journey across the platform. Brands are slowly but steadily shifting to generating the ‘pull’ to the digital-led market – The latest trend suggests the customer-led market is not digital-led as media, and content drive customer needs – telling them what they want based on an assessment of consumer behaviour – creating a smooth path to purchase and frictionless customer experience. In this blog – The Emergence of QSR The Scenario What future holds for QSR? What do brands need to do? Final thoughts The Emergence of QSR Even the dominant brands like McDonald which has been in India since the mid-90s took time to find its feet in the segment, but it paved the way for QSR in India. The Quick Service Restaurant format has led the organized food service industry in India to the upswing. The QSR format is a perfect mix of being lucrative and maintaining decent customer connections which contribute almost 12% of the organized segment. The growing popularity of QSR among urban and sub-urban settings will lead to its projected growth at the rapid rate of 17.27 per cent and worth up to Rs. 827.63* billion by 2025. (*Source: Research and Market projections) International brands have dominated the QSR market in India with a +50% share of revenue on the back of Glocalization of Menu Investments driven rising geographical presence Value focus driven higher sales and customer preference Ability & agility to keeping up with trends Consumer needs based focused marketing efforts Backend integration of technology to ensure quality service A healthy demand outlook for QSR and surge in investments, the industry is expected to witness substantial growth. A large segment of the unorganized market is expected to get streamlined into an organized market with QSR. The Scenario – Know your customer Imagine your customer going to a physical store/restaurant – going through the menu – pondering upon what to order – but the item is unavailable or does not suit the budget bracket or is too pricy for two. Then you offer him some alternative if it suits his needs then you got him but still the pinch of missing out on what he wanted remains and ruins the customer experience. Now imagine knowing about your customer need what are they looking for and your performance across platforms on parameters like – Reach of your service Performance across age bracket Pricing range own vis-à-vis competition Delivery time impact on Ranking and ratings Knowing all that just imaging what your brand could do for not just acquiring new customers but will also help you pinpoint the area to improve and work towards the goal of optimizing customer journey. What future holds for QSR? The internet penetration across geographies and demographics has paved the seamless growth path for the QSR industry. Here are some key scenarios that will shape the future. International QSRs have struck a chord with Indian consumers Value proposition offered by international brands has led to their acceptance among young Indian demographics – The variety of entry-level products, affordable meal upgradation options, and discounted prices on combos & meals has led to a growing loyal customer base. The average Indian consumers’ socializing over food The rise in the ability and willingness of the average Indian consumer to spend on aspirations, experiments and socializing over food along with their stickiness in terms of cost-consciousness will continue to drive them towards fast food brands. Value remains the belly of the market Top brands have not shied away from introducing premium offers to meet customer needs with better indulgence, which aids in increasing ticket size as well as margins. QSR companies expanding beyond their core offerings From pizza to pasta (Domino’s), from burgers to beverages, breakfast, fried chicken, rice bowl, etc. (McDonald’s, Burger King) – The swift beyond core offering and combos with competitive pricing strategy will enhance consumer trials and eventually scale up consumption of these offerings. Rapid Convenience channel Quick delivery, takeaway, and drive-thru are other key driver of growth since it is not just the need of the hour for any QSR brand, but also a significant enabler of the future due to an increase in the frequency of ordering and a growing user base across the country What do brands need to do? The format has transitioned to comfort food across price segments, catering to all income levels or segments benefiting from any downtrading along with addressing the aspirational demand in non-metro areas. The QSR players need to address the growing demand with a strategy guided by data and insights. The top players in the QSR space benefit in a big way with growing industry potential as they have the necessary infrastructure, a healthy balance sheet, and an established convenience channel to cater to evolving consumer demand. Let’s consider the case of brands like Domino’s and Mcdonald’s listed on a platform like Swiggy and Zomato along with their own online apps – what do they need to be more feasible and appealing to the customers? Having an established brand name is not enough. Target demographics and enhance customer experience by optimizing the customer journey on multiple touchpoints Improve product discoverability based on section-level insights – for own vis-à-vis competition on platforms like Swiggy, Zomato Uber eats etc. Track own brand/product performance vis-à-vis competition across the platform, location, and delivery time. Final thoughts The food service industry is running a race against

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3 Best Practices to Get Most Out of Shopping Ads

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As we sit on the verge of the festive season, online shopping is increasing rapidly. Most users search for products they want to buy over search engines or search modules of eCommerce marketplaces to find gifts and decorations or upgrade their wardrobes. According to a source, 40% of shoppers across the globe used search engines to find a product, whereas 38% and 35% relied on Amazon and other marketplaces, respectively. Therefore, online shopping stores and web browsers have become crucial to the customer journey. Brands understand this and need to market their products across spaces to acquire higher brand awareness and eventually increase their online sales. The benefit of this has also been taken by the owners of the web browsers offering shopping ads to brands. Did you know a study claims that 76.4% of the retail ad expense is spent on Google Shopping Ads, and achieves an aggregate 85.3% click-through-rate? So, e-commerce brands are ensuring that their shopping ads reach the maximum number of people. Achieving this would help acquire higher sales, and revenue through online shopping stores. Moreover, it would generate higher brand awareness, visibility, and a competitive edge in the online retail ecosystem. Unfortunately, a single user comes across 4,000-10,000 ads daily, including search ads. The competition between brands is extremely high, given that a single person comes across more than 400 ads in an hour. Therefore, optimizing shopping ads has become important for digital marketers. Simultaneously, brands must comply with the incorporated ad guidelines. Keeping these thoughts in mind, we have curated a set of best practices. 3 Ways to Optimize Shopping Ads Question Your Keywords We understand that you have selected the keywords based on thorough research, but enhancing visibility begins by re-evaluating the data. Before getting started, check the negative keyword list. Recognizing the appearance of your ads on unwanted keywords is necessary to save the ad budget and reach the target audience simultaneously. For example, let’s consider that you sell ‘gold jewelry,’ but your ads appear under ‘silver jewelry.’ The campaign might elapse the set budget much faster and display results to an audience that may not have an interest in it. However, adding ‘silver’ and ‘silver jewelry’ under the negative keywords will help to diminish such repercussions. Simultaneously, as the sale season is just around the corner, it is necessary to identify the keywords that would show more of your ads to the target audience. Using such keywords on the product page will certainly impact your product results in search ads. However, you should refrain from using words like sale, offer, deal, etc., in the ad. Instead, focus on features, benefits, qualities, etc. Once you figure out the new relevant and negative keyword list, you must make the final evaluation before proceeding to ensure that you don’t miss out on anything. Examine the Product Display Pages Offering the brand name, in the beginning, brings trust to the title. Following it up with quality and features helps impulse buyers make decisions easily and makes it relevant for web browsers. The description should be crisp, include keywords mentioned in the title, and be easy to understand. Here is an example of the description of a product of a shoe brand: Image Source: Neeman If you check the product title and match it with the description, you will see that the word ‘comfortable’ is common and seems to be the focus of the product. Moreover, the description clearly states the material used for manufacturing and qualities like stretchable, all day long, anywhere, and anytime. The best method to keep track of the most used keywords by competitors on shopping ads is conducting daily, weekly, and monthly text analysis. Our eCommerce competitive analysis solution, mScanIt, can help in this assessment. Post analysis, the marketers of your brand can make strategic decisions to boost the ads’ visibility, which would also directly impact the brand’s Share-of-Voice. Setting the Correct Price Price is one of the factors that can boost your page visits. But your brand must ensure that the currency and price are not formatted incorrectly. It can cause drastic repercussions like a high level of undeliverable orders, higher SERP on the web browser, and MAP violations. Tracking the price of competitors on different platforms has also become a necessity as it enables brands to curate better pricing strategies for their products. Earlier, we also mentioned that words like ‘price drop or sale’ should not be included in the description. The reason behind it is that it is already shown by Google, the biggest shopping search engine. While focusing on title, description, and price may prove beneficial in boosting the visibility of shopping ads, marketers should not ignore other factors. These include campaign structure, articulate segregation of ad groups, bid adjustments, etc. Conclusion Selling a product using search ads is challenging, but optimizing the title, price, product page, and keywords can certainly prove beneficial in enhancing visibility. The lower SERP result certainly helps a brand to achieve a better click-through rate, page visits, sales, and conversion rates. Simultaneously, brands must identify the search result trends or changes that can boost the sale of their variants with lower sales volume. The whole practice would help the brand to achieve a higher Share-of-Voice. Many researchers say that page optimization in the eCommerce marketplace can influence the web browser’s SERP. Therefore, the need to identify all the facets of the product listing has become crucial for brands. Connect with us to learn more about scaling your business with Share-of-Voice results on web browsers.

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Why Do Rating Matter to eCom Brands?

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Online shoppers judge a product through its ratings and impact purchase decisions The first and only way to know about customer experience in an eCommerce marketplace is through ratings. They are eye-openers. Product ratings can make the customer interested in buying the product or scroll until a better product becomes visible. The importance of ratings is undermined by reviews, as they offer ‘textual’ feedback from online shoppers. However, many reviewers only submit product ratings and don’t write about their experiences. Brands have to incentivize customers to submit their feedback through offers, scratch cards, gifts, etc. Such customer experiences are also biased, as many brands clearly state, “give a 5-star rating and write a few words” in their lingo. Brands also run campaigns to acquire customer feedback on their products. They approach influencers to submit feedback on eCommerce marketplaces in text or video format along with the ratings. Moreover, they also ask influencers to create unboxing videos or product feedback for their Product Display Page (PDP). Implications of Ratings on eCom Products Customer’s Interest in the Product Let’s say an online shopper searches for ‘best smartphones under Rs 10,000.’ The top search results have a rating between three to five stars. Which one do you think the customer would likely prefer? While this is an open-ended and subjective choice, as it would also account for the brand, price, image, and other crucial aspects, the product’s rating will undoubtedly change the decision to visit the product page. The next step in a customer’s journey after searching for a product now depends on the ratings shown on the digital shelf. The product ratings are also displayed at the top of the PDP on most eCommerce marketplaces. It’s a signal to re-affirm the experience of online shoppers. Online Shopper’s Decision to Read Reviews If a product’s ratings are below three stars, an online shopper may not be interested in buying or even looking at the product. However, if it is between three and five stars, the decision to explore more about the online shoppers’ experience through reviews would substantially increase. Therefore, ratings have the power to impact an online shopper’s decision in two extreme directions. The need to have a positive rating is always a priority for eCommerce marketers. Online shoppers read more about the product if a product has a neutral or positive rating. It makes them more interested in the features or qualities of the product. It also removes their distrust of the brand, especially if they buy a product for the first time. Helps to Make Product Judgements A three-star-rated product informs online shoppers that the buyers could face problems and should not expect the best results. A four-star product rating states that ‘it’s almost up to the expectations given in the PDP.’ Now, it’s easy to know what to expect from a one, two, or five-star-rated product. Right? Online shoppers start judging the credibility of a product based on the rating. In most instances, people would always go for a four to five-star-rated product. (If you disagree, please comment and let us know your reasons). The eCommerce search algorithm understands that the highest-rated products under a category would interest a higher number of buyers. Therefore, most top search results include the best-rated products, which generally don’t go below three stars. Wrapping Up A product’s rating has a wide range of implications. They can either build an online shopper’s association with a brand or disassociate existing loyalists to competitive products. The need to have a positive rating for all eCommerce listings has become essential, as slight differences can alter customer buying decisions. Moreover, product ratings are a window into the customer experience. Poor ratings keep the customer’s interest in the product at bay, and good ratings uplift their enthusiasm to know more about the product. Our eCommerce Intelligence solution, mScanIt, enables brands to track their product ratings in real-time and measure their performance with the top competitors. The solution can also set alerts in case there is a sudden surge in ratings. Using the alerts helps brands to notify eCommerce managers to take swift action against an issue or find out the reason for positive publicity by checking the PDP.

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How Reviews and Rating Impact eCom Sales?

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According to a study, products with at least five reviews have a 270% higher chance of a sale.  The number of stars in the rating and shoppers feedback are vital for every eCommerce marketplace be it Amazon, BigBasket, Flipkart or any other. The heating up race to grab attention of buyers via multiple images, attractive prices, product comparisons, reviews & ratings are helping buyer to make more and more informed decisions. The customers feedback & reviews help buyers learn more about the product quality, brand, seller, features, benefits, etc. The sentiments and personal experience shared by the buyers makes reviews worth reading. According to research, about 91% of online shoppers read reviews before making a buying decision. The online shoppers want to know pros and cons of a product before deciding to buy. The negative feedbacks help judge the authenticity of the product, the core problems, irregularities, and more. On the other hand, positive reviews help build brand or product trust & credibility by stating the best features and clearing doubts about value for money. Why businesses need to assess customers sentiment? Reviews and ratings also influence marketing decisions. Brands often analyze the product with the worst feedback to find customers’ most problematic areas. Addressing customer concerns often helps brands to convert overall negative sentiment into positive or at least turn them into neutral. As a result, the new buyer decisions also get influenced in a positive way. The regular monitoring of reviews can help brands enhance their customer experience and develop new ideas or features. An evaluation of your brand vis-a-vis the competition can help to identify the most used words by customers for similar products on an ecommerce marketplace. This analysis helps in optimizing the marketing strategies. Brands need such analysis for optimizing the marketing strategies. Our solution mScanIt can even provide real-time alerts if the sentiment intensity is moving towards the extreme, keeping a tab on customer sentiment. Replying to customers reviews & ratings in real-time often results in a higher conversion rate. Impact of online reviews Boosts SEO and Product Discoverability Ease of finding the product listing on an eCommerce marketplace is crucial to product discoverability. Discoverability is directly proportional to Share of Shelf (SOS). So, when the keywords targeted by the brand appear higher, it enhances the share of Shelf. Most eCommerce marketplaces’ algorithm includes reviews and ratings to find out how relevant and popular the product is, before displaying the results to the online shopper. The targeted brand keywords used in the reviews also boost SEO. For example, a Bluetooth headset review would contain words like best Bluetooth, wireless, hands-free, etc., as part of the feedback. As these words are the SEO keywords, it might help the product become more visible in the top page listings. The product may also appear in the duplicate listing under organic search results of hands-free and wireless because these have been mentioned in the reviews. eCommerce marketplaces understand the importance of reviews and display them before the product price in search results. Products with reviews on the digital shelf listings often achieve higher conversion rates, depending upon the price parameters of the buyers. Products with good reviews and ratings on online shopping stores often boost their organic SERP on web browsers which leads to higher visits to the product display page, conversion rate, and sales. Additionally, they alter the Share-of-Voice of brands on Google, Microsoft Bing, and other search engines. Even if the product is new to the online shopping platform, lack of review will affect its sales unless it is of a well-known brand or much anticipated product. The businesses continuously engage in campaigns for acquiring product reviews as in most instances, people want to see the customer experiences of the same product from other online shoppers before deciding to purchase the product. Build customer trust and loyalty Products with reviews and ratings instill trust in a brand or eCommerce seller. The likelihood of purchasing an item from an online shopping store increases as the customer trusts the brand’s reliability and resolutions. Brands use eCommerce competitive analytic solutions like mScanIt for monitoring positive and negative sentiments with such tool they can evaluate customer reviews in their marketplace dashboard and send instant responses. Brands that proactively respond to customer reviews often witness higher conversion rates and sales. Simultaneously, they may boost customer loyalty and trust of potential buyers on the products, as they can see the resolution offered by the brand to resolve customer problems. The subjective view and understanding of the product usability also resolve frequent queries of the potential buyers, which once again impacts loyalty, trust, and the final buying decision. Help customers make final buying decision Many marketers believe that people spending a long time on a product page are probably checking the specifications, measuring pros & cons, and matching them with their needs before making the final buying decision. Reviews and ratings are opinions or comments given by product buyers and influencers which often include the brand name. The increasing number of brands mentions indeed impacts the algorithm of the eCommerce marketplace, especially while curating the best results for its buyers to boost sales. When the viewer read about other customer experiences, and name dropping of brands in reviews build a subjective opinion about the brand or product. Do you recall when ‘Realme was first introduced into the market, and people slowly forgot about ‘Redmi? Brands also use reviews for showcasing customer experiences to potential buyers or target audiences. You might have come across shopping ads on social media and search engines. Did you scroll past a new brand after seeing the reviews, or did you check out its product page? The length of reviews and ratings goes beyond the eCommerce sphere. Many websites have full-page articles and videos on products offered in online shopping stores. The brands also highlight ratings in product images to boost page time on their product page. Buyers sentiment matters! Reviews and rating could be a great tool to understand

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Why Should Brands Measure the SOS of Their Sponsored Listings?

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Share-of-Shelf of your sponsored listings on eCommerce platforms like Amazon, Bigbasket, Flipkart, etc., measures the percentage of your brand’s discoverability vis-a-vis the competition on paid keywords. Paid search is a massive opportunity for brands, as it allows them to rank ‘at the top’ for the specific keyword searches on eCommerce platforms. However, brands could get outbid on keywords by their competition, which impacts their rankings. Therefore, monitoring and measuring the SOS of the sponsored keywords has become vital for brands. Another aspect of measuring the SOS of the sponsored listing is knowing the brands with the highest discoverability. Through this, a brand can detect the focused or targeted keywords of its competitors. Moreover, the brand can also detect whether or it is discoverable on the most popular keywords? If it isn’t, then, the brand needs to check the Product Display Pages (PDPs) and optimize them with the most popular keywords to become discoverable on the eCommerce search engine. According to a report, the worldwide retail eCommerce sales from Amazon accounted for $468.78 billion between 2017 and 2021. In India, 47% of the digital advertising expense on the eCommerce industry was through paid searches. It means a significant proportion of paid search campaigns were running on multiple eCommerce platforms. Brands that ran campaigns on Amazon acquired a piece of the sale and increased their revenue. Therefore, becoming discoverable on eCommerce platforms certainly aids sales/conversions. Besides revenue, brands run paid search campaigns on eCommerce platforms to acquire higher traffic, increase the ranking, enhance visibility and brand awareness, etc. So, whenever their competitors have a higher proportion of the digital shelf, especially on brand-specific keywords, it is a problem that needs an immediate solution. How to Effectively Measure the SOS of Sponsored Listings on eCommerce Platforms? Top Product Results by Keywords Searches The positioning of a sponsored product listing on an e-commerce platform, based on keywords tells many stories to a brand. It could inform the brand that is bidding the highest on a specific keyword and the type of keywords (generic, competitor, and brand) that have the highest share of digital shelf for your brand vis-a-vis the competitors. Brands can use the information to detect the top performing paid searches of their competitors on each eCommerce platform in their respective categories. By evaluating the results of the sponsored digital shelf results brands can build strategies to get an edge over the competition. How? It can build campaigns around the most relevant keywords and attract a higher audience base. Moreover, it can use the keywords in the title of its multiple variants to increase consumer interest in the product and intent to purchase the product. Brands with the higher number of sponsored listings acquire a higher share of shelf for keywords. Moreover, the share of shelf for the sponsored listings is often calculated for the top ten search results and the top three pages. Therefore, building strategies around sponsored listings based on the SOS can boost the positioning of the listing and the visibility of the brand. My suggestion to the brand’s is to “use a keyword-mix which includes competition brand keywords, along with their own brand keywords, which is hardly practiced by most brands and would help you to acquire a larger Share-of-Shelf.” Share of Sponsored Listings on a Sub-Category Level Imagine you are a pickle manufacturer and are running campaigns on ‘mango pickle’ keyword of an e-commerce marketplace. Consumers use the same keyword from their respective geo-locations to buy the product, however, your sponsored product listing is at the bottom of page. Do you think they would make an effort to scroll down and add your product to cart, especially if you are a new brand? Most probably ‘No.’ Enhancing the page position of your brand’s products and thereby enhancing visibility of your sponsored listings is necessary to influence the buyer behavior towards your brand. It is possible by: Evaluating the overall SOS of sponsored listings at a sub-category level, Detecting & retargeting the top and most relevant keywords of your competitors under specific sub-categories, and Finding the top sub-categories that would increase the SOS of sponsored listings. By taking these measures, your brand can substantially increase its SOS of sponsored listings on multiple sub-categories. Besides higher revenue, your brand could enhance its consumer base and find new target audience in its niche. Recently, we shared a case study in which a brand used the strategy of monitoring competitor keywords. By doing so, it found that the SOS of its sponsored listings for competitor keywords was 5%; however, after gaining information on the competitor’s top performing keywords, it started bidding on some of them. Within a short span of time, SOS of its paid searches jumped to 14%. (Read more) SOS Overview of Sponsored Listings Monitoring the SOS overview of sponsored listings would give a clear analysis of the best performing brands based on paid searches. Moreover, you can evaluate the presence of your brand vis-a-vis the competition on an eCommerce marketplace through keyword bidding. As a result, you can find the best performing platforms for your brand. Additionally, your brand measured the share of shelf for sponsored listing using specific keywords. Therefore, you can find the best performing keywords of your competitors across multiple eCommerce platforms. By doing so, you can revamp the keyword bidding strategy to enhance your overall share of shelf for sponsored listings. You can even share the information across the organization using exportable reports through eCommerce Competitive Analytics, a.k.a., mScanIt’s dashboard. The actionable insights would enable your e-commerce managers to evaluate the platform-wise strategies and take measures for boosting the SOS of paid search results. Conclusion Share-of-Shelf of sponsored listings can bring insights related to products, brands, and competitors. Measuring the success of paid searches on eCommerce platforms through eCommerce Competitive Analytics is possible by deep-diving at a sub-category, search rank, overall, and other levels of SOS. The insights and intelligence derived through eCommerce Competitive Analytics, a.k.a. mScanIt, enables your brands to change your ongoing/upcoming advertising and marketing campaigns across multiple eCommerce platforms. For the

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share-of-voice

Beginners Guide to Share of Voice on Search Engines

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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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