We live in the era of technology, getting addicted to it with every passing day. By using the data, several technologies have made our lives more effortless than ever. It works as medicine if you are associated with eCommerce business and digital marketing. Data is the information you can use to immune your eCommerce brand from any upcoming glitches or failures.
Believe it or not, it is a necessary element for an eCommerce business. You can discover all the hidden truths regarding your online business through a robust brand analytics tool such as etraKY BS. It fetches all the essential data of your business, and provides actionable insights to power up your brand. Intelligent analytics provides information about your stocks, market trends, demands, customer behavior, pricing, etc even at a granular level. All these factors can help your brand snowball by extracting valuable analytics that you can use to minimize the issues related to these eCommerce aspects.
Through this blog, you will be able to learn how to use several data to power up your brand and increase your brand credibility simultaneously.
Get More Precise Information About Prices
Pricing is an essential factor you must consider while establishing your eCommerce brand. Most brands extract price information from eCommerce platforms. Price information regarding a competing product is extremely important, and you won’t be happy if you miss it. To avoid the unhealthy competition among sellers and distributors, as a brand, you need to keep a close watch on price breaches happening on Market Operating Price (MOP).
But apart from this, sometimes you can experience a price breaching situation from any specific sellers. To avoid such situations, you can take the help of price monitoring software such as etraKY BS. It can provide you with all your price and send you a notification whenever a seller violates the MOP. This is how data can help you in protecting your brand reputation. Such monitoring tools can also provide you with the price of your competitors. It can help you connect with your customers and generate a handsome profit.
Price data can also help you set a reasonable price to compete with your competitors during seasonal sales. You can track how much discount your rivals offer during any specific sale.
Help You with Stocks
Stock analytics can tell you how well your products are selling online and help you with tracking the total number of sales by monitoring the stock number, and you can even get to know how popular your products are in the marketplaces. Analyzing stock regularly can help you manage your stocks and save you from out-of-stock situations. Besides that, it is pretty tricky to know the location-wise stock availability.
However, a location-wise monitoring tool such as etraKY BS can help you know stock availability at the hyperlocal level. This tool provides the exact information of how many products are available there and how much you need to refill. Such information can help you play accurately to predict the demand for the products in the future.
This helps you to enhance the customer experience by escaping the stockout situation.
Analytics can Help in Increasing Product Visibility
As an eCommerce brand, if your motive is to sell your product without any disruption, it will be preferable to increase your product visibility, as it is the most recommended way to upsurge your sales. Customers won’t be able to buy your product if they fail to view and locate it. To increase your visibility on marketplaces, you must add top-ranked keywords to your products. There are millions of sellers and brands out there who are selling similar products as you are. So how can your product stand out from millions of listings?
To increase your product visibility, you need to enhance your listing quality by adding suitable and relevant keywords. You can add the keywords with your product title, description, and video content. Keywords can make it easier for your products to appear in the search list. The listing quality analytics tool can help you with this by extracting your product listing information, and such tools can alert you to add more relevant keywords.
While most customers visit an eCommerce platform to shop, some just appear as a surfer. In such a scenario, category-wise page ranking is your ultimate chance to present your products on the 1st page. Collecting essential keywords from the marketplace analytics can help you immensely with this.
Improves the Customer Experience
Till date, if you are not considering customers’ feedback as an essential part of your business, you won’t be able to enhance their shopping experience. To know more about your customers, you need to understand what they really think about your product. For that, you need to get through their feedback data. It is the best way to give preference to your customer’s thoughts.
Feedback and reviews can be positive or negative. Positive reviews can encourage you and satisfy your hard work. On the other hand, if there is any negative feedback, you can use them to improve the quality of your products. That is why it is vital to collect feedback. You can take the help of etraKY BS as a review management software to manage customers’ reviews in a good manner.
Working towards your products and services as per their customers’ feedback, you will be able to enhance their shopping experience.
In such ways, data can help your brand to grow more on various eCommerce platforms. The eCommerce analytics provides you insights into what customers feel about your product.
Thus, now we have a fair idea of the importance of analytics. In the eCommerce industry, collecting various information to sustain your brand in this competitive industry is even more critical. Using data in such a way provides a clear view of your business and you can measure the effectiveness of your business strategy. You can better understand how well your business is running and what necessary elements you should add to it.
Gathering various data related to prices, reviews, and stocks, you can use etraKY BS as an eCommerce analytics tool. It provides you with information related to stocks, competitors’ prices, keywords, etc. You can use them accordingly and enhance the revenue robustly.