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eCommerce analytics Archives - Etraky Brand Studio: Amazon Seller Software & Product Research Tools for FBA and eCommerce Businesses


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Celebrate the Power of Freedom by Implementing Top 6 Strategies !

This Independence Day, along with enjoying the grace of Freedom, do your part to enhance your online presence and attain the equivalent Freedom in online business. As we all know, Independence day is at the door, and it is time to celebrate this day by upscaling your eCommerce business to the next level. In the past two years, due to the Covid-19 pandemic, this special day has been celebrated virtually. Still, when the situation is much in control, and people are partially in relaxation mode, it is a special year for all of us to celebrate the glory of our Freedom.

As an eCommerce seller or brand, you can also prepare your online store to make the most of this occasion. Amid Independence celebrations, just by implementing a few excellent tactics, you can attain astounding benefits. A bunch of upcoming Independence sales is knocking on the door on various marketplaces. So, it can be an excellent opportunity for you as well to make the most of this patriotic holiday. In this blog, we will mention some compelling tactics you can use to thrive your sales during upcoming Independence Day celebrations.

Six Rewarding Strategies to Let Your Online Business Thrive

 

Sell Products That Defines the Freedom

Believe it or not but during Independence, the feeling of patriotism is at its peak, and customers embrace each and every aspect of Freedom. During this period of time, several accessories and products that define our Freedom acquire maximum chances to be sold out on marketplaces. Thus as a seller or a brand, it can be an excellent opportunity for you to sell several products such as tricolor bands, apparel, badges, mobile covers, cushions, and tricolor ethnic clothes for men women, and children. According to recent research, it has been found that the demand for such products increases during these occasions every year. Thus, an online business can also make the most of this opportunity and increase their sales immensely.

However, you can face fierce competition during this time, so to keep your products visible to your customers, you need to implement a practical listing quality analysis. In this regard, you can use etraKY BS to make your listing effective and efficient in terms of attaining maximum sales.


Announce an Online Freedom Contest

During the Independence Day Sale, as a brand or a seller, you can run an online contest for your potential customers by using various social media platforms. It can be a mind-blowing idea to snowball your sales and power up your eCommerce brand. An engaging contest to grab various products at discounted prices can capture the attention of numerous customers and encourage them to participate. You can ask multiple Independence day related questions through your social media pages and offer them eye-catching rewards. You can initiate a registration process to be a part of your contest. Some of you may not find it relevant but understand that customers always find it alluring to get an attractive product as a reward at a minimum price. Take a chance and try your luck; it can be a profitable affair if you run such a contest with full enthusiasm and efficiency.


Reinforce Your Listing Quality

As an eCommerce brand, all your selling tactics can work when your products appear in the search results on various marketplaces. In this regard, you must add relevant keywords in your product’s description and title while listing it on eCommerce sites. A captivating strategy to reinforce your product listing quality can help your products become searchable for your existing and potential customers. Especially keywords have the immense potential to let your products appear in the search results. For instance, if you plan to sell tricolor phone covers, you can add Freedom, tricolor, phone covers, etc., as your relevant keywords.

If you think adding keywords is a complicated process, believe me, it’s not; you just have to analyze and think from your customer’s perspective. Collect your thoughts and think again that if a customer wants a tri-color product for the Independence day celebration, what words will they search for? This practice can let you attain your goal; on the other hand, and you can also take the help of a listing quality analytics software such as etraKY BS; it can guide you through adding getting accurate product descriptions and titles. You should also add high-resolution images of your products to enhance your listing quality.

 

Run Social Media Promotions

Social media is a great platform to run your promotions and share deals with your customers on any holiday, whether it is Independence Day or any other day. To gain benefits from this freedom festival, you need to apply some marketing tactics to promote your products rapidly on Facebook, Instagram, Pinterest, etc. Try to boost up the patriotic feeling in the customers by making them remember what the contribution of our great revolutionaries in the freedom fights was. Add this emotion to your product and then run your promotions to attract millions of eyes.

You can share a strong brand message related to Independence day on social media platforms. Attracting eyes can be complicated sometimes, but if your promotions can hit the heart of the customers, you can get success as well. Always remember that Freedom is an emotion for Indians, and there is a big chance that they will turn up to such promotions and contribute their share to hike up your sales.


Power Up Your Marketing Strategy

Before anything else, you must make a solid marketing plan to inform your customers about Independence Day’s upcoming offers, discounts, and contests. Being in the eCommerce industry, it’s never too late to start promoting your products through various promotional emails, social media posts, campaigns, etc. Determine one time, collect your assets, select your targeted audience and shoot the promotional emails at least two or three days before you start your Independence day flash sale. It is better to start early to stand out from the competition and make it a successful marketing strategy for your eCommerce business. As Independence day is around the corner, you need to plan every aspect of your marketing strategy step by step.


Check Your Stock Availability

It is an essential factor for eCommerce businesses before you implement any promotions and campaigns amid Independence day. Any product you are going to sell should be available in your stock effectively during the sale period. Suppose a customer wants to buy any specific product, but at the same time, it shows that the product is out of stock, which can affect your overall brand image. The out-of-stock situation can let you lose both your potential and your existing customers. Eventually, it can affect the growth of your online business by limiting your revenue. To always keep an eye on your stocks, you can take advantage of any stock availability software such as etraKY BS. It sends you the notification whenever a product gets out of stock or back in stock.


Conclusion

Hence these are some specific strategies you can use to celebrate the power of Freedom by making the most of this time. These strategies can let you attain more and more customers during this festive aura. As a brand or a seller, it can be your big chance to increase your sales and increase your customer base. Always remember that customers always want to have something unique and attractive. Offers, discounts, and contests always attract their eyes. So it is best to follow the strategies mentioned above if you want to increase your revenue and mark your presence in the marketplaces. In this regard, powerful brand-centric software like etraKY BS can help you immensely. It can let you perfectly attain all your goals.

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Five Reasons for Cart Abandonment & How to Provide Checkout Confidence to Your Customers!

The eCommerce industry is an accumulation of benefits and losses. It depends on you what aspect you are choosing for your business. To become a successful eCommerce business entrepreneur, knowing about every little factor is essential. One of the significant aspects is cart abandonment. When an online customer visits a marketplace and adds the products to their cart but disappears without making the final checkout process, it creates the situation of cart abandonment.

To increase your sales as well as your revenue, it is crucial to monitor the reasons behind cart abandonment. According to a recent survey, eCommerce businesses lose over 65% of sales because of cart abandonment. It drastically affects your brand’s credibility and reputation at various levels. However, if you find out the significant reasons behind this, you will be able to minimize this percentage effectively. In this particular blog, we have mentioned some of the reasons that lead to the abandonment of carts. It can help you in providing checkout confidence to your potential customers.


Reasons Behind Cart Abandonment in Online Business

Before taking essential steps toward minimizing the cart abandonment rate, it is imperative to know the reasons behind it. Your time and effort can vanish if a customer abandons the cart without completing the checkout process. Here we are mentioning some of the specific reasons that may clear the air and make you understand why it happens most of the time.


Unexpected Additional Charges

One of the most common reasons behind cart abandonment is additional charges that get added at the time of final checkout. At this time, customers may change their shopping decisions and abandon the cart immediately. During the checkout process, along with the product’s actual price, marketplaces also add the shipping, delivery, and other charges. It highly affects the product’s actual price and makes the customer rethink before making the purchase. It immensely affects the customers’ satisfaction level if their charges are hidden.

The ultimate solution is to provide every detail of each charge that is to be added to the products. In this way, they can completely understand the charges they will pay, which may help minimize the cart abandonment rate.


Compulsory Account Creation

A new customer can not make a purchase without an authenticated profile on prominent eCommerce platforms such as Amazon, Flipkart, Myntra, etc. Sometimes customers don’t want to spend their time on such a process, which is also a reason behind the increasing cart abandonment rate. To deal with this situation, marketplaces should never force the customer to create an account, and instead, they should provide guest checkout options. As a brand, you must keep this in mind if you plan to create your own online shopping portal.

In terms of collecting customers’ personal information, such as their contact number, email address, and delivery address, ask these questions after they make a purchase. Every upcoming eCommerce brand is establishing its business with this tactic. To resolve this problem, you can also sell your products on websites that provide the option of guest checkout as well.


Limited Payment Options

A customer may abandon the shopping cart if they don’t find a suitable payment method. Although we live in a digitalized world, many still only understand the language of cash. Hence there must be an option for a cash-on-delivery. Most customers prefer to pay the amount at the time of order delivery. So along with the credit, debit, UPI, and wallet payment options, there must also be the option of COD. You need to understand the fact that customers don’t develop trust quickly if they do not hear about you. This can be the reason why they abandon the cart in case of the unavailability of cash on the delivery option.


Poor Stock Management

Suppose a customer adds a product to their cart, but the item gets out of stock during the final checkout process; what do you think it leads towards? Of course, it increases the cart abandonment rate. Thus, poor stock management can also be the reason for this devastating situation.
So you need always to keep an eye on your stock to decrease the cart abandonment rate in the future.

Now the question is, how is it possible to watchdog your stock 24×7? Well, at this point, you need to take the help of a robust stock analysis software such as etraKY BS. It provides you with real-time notifications along with a stock analysis report. In this way, you will be able to get clarity on your stock and never miss a chance to dissatisfy your customers. This software alerts you whenever a product gets out of stock and gets back in stock.


Not Maintaining the Price Hygiene

It can be another reason for the increasing cart abandonment rate in the eCommerce industry. You must know that based on recent research, it has been found that approximately 75% of customers compare the price of the product on various eCommerce sites before taking the final checkout step. Customers never want to pay extra for a product if they find it at a lower price somewhere else.

In this scenario, sellers or brands need to monitor the prices of their competitors. But this task may consume a lot of time or may potentially take up your whole day. A more sensible solution is acquiring price tracking software such as etraKY BS. It can also help you track the historical data to understand your customers’ changing preferences. So, by maintaining the price hygiene across the channels, you can somehow minimize the cart abandonment rate.


Conclusion

Now, you must have got an idea about the various reasons for the cart abandonment. You may follow the above-mentioned solution to provide checkout confidence to your customers. You may also focus on other vital elements that can help reduce the cart abandonment rate, such as inaccurate return policy, complicated checkout process, delayed shipping and delivery options, payment insecurity, lack of customer support, etc. However, you can effectively diminish these issues by implementing best practices for a hassle-free checkout process. Some significant issues such as maintaining the price hygiene and stock unavailability can get resolved with the help of powerful brand analytics software such as etraKY BS.

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What is eCommerce Analytics & How to Use it to Boost Your Revenue!

This is 2022 the era of digitalization, from making payments to buying products everything can be done through being digitally aware. If we particularly talk about online shopping; this industry is on a hike. One can earn their bread and butter just by investing very little. But the question is, how will you sell your products without any disruption in this overcrowded market. Well, in this regard, eCommerce data analytics can help you. Data analytics was always there; however, after the booming of eCommerce business post-Covid 19, this has come into the limelight. Using the analytics efficiently will power up your business with insights that will help you to make calculated decisions and grow your business.

Sellers or brands usually don’t know how to use eCommerce analytics because they have so much data that they get confused about where they should start. It may not always be easy for eCommerce businesses to analyze the data they are collecting accurately. However, eCommerce data analytics is effectively enforced in this industry to narrow down the focus and establish clear-cut goals. It all comes down to ultimately finding a way to increase sales and boost the conversion rate.

You have access to a lot of data if you sell your products on several big eCommerce platforms such as Amazon, Flipkart, Myntra, Ajio, Snapdeal, etc. Several customer data insights individually offer hidden opportunities for increasing revenue and flourishing your business only when you do it efficiently.

In this particular blog, you will know about eCommerce analytics and how to use it to boost your business.

 

What is eCommerce Analytics?

Lets’ not get into the technicalities; broadly, we can say that eCommerce data analytics is a fantastic way to attain a deeper understanding of your present and potential customers. Specifically, this analytics also looks at other vital factors such as the bounce rate, keywords, customers’ clicks, cart abandonment rate, etc. Undeniably, thats’ a lot of information for eCommerce businesses to hold onto. As much as your online business will expand, you will need more data to collect and analyze to run your business smoothly. This data can help you know who your customers are, their preferences, and what influences them to buy your products or abandon the cart.

To remain competitive in this glorious industry and increase your conversion rate, you must implement this strategy with your business. You must know that eCommerce analytics comprehensively provides insights on how buyers interact with your ads, emails, and other strategies to make them buy your products. You can view all this essential information in one place using any eCommerce analytics tool.

This sort of analytics tool is imperative to a successful online business. Integration of any analytics tool can become a primary key to success and help you score a massive advantage over your competitors. Ignoring eCommerce data analytics means you are missing out on some crucial information that can help you stand out from your competitors.


Several Ways to Use eCommerce Analytics to Boost Your Business

 

Enhancing Product Page Optimization

Your product page is where all the actions occur in the eCommerce industry. It is where your products get visible to your customers, and they can read the information about your products. Apart from that, customers also read the reviews of the other customers. Analyzing them all together, they make their shopping decisions. If you have a well-established and maintained product page, it can eventually increase your sales. On the other hand, a poor presentation of your product page can decrease your overall sales.

To make your product presentable in terms of product title, product description, keywords, and images, you can take the help of brand analytics tools such as etraKY BS. Product page optimization can help you collect primary data gathered by customer actions and then analyze it to observe deep insights. In this optimization process, you can also gain sales data that can make you analyze if there are any issues in pushing your customers from searching to buying.


Conjecturing Analytics

It can be the proven key to engaging your customers and responding to their demands through conjecturing analytics. Accurate analysis of your data can help you regulate what your customers expect. For example, if you have search engines’ data, you can analyze well what products they are looking for and what they have bought in the past. Based on that, you can analyze what they can buy in the future. It can also help you determine at what price you should sell your products to make the most of them.

In today’s eCommerce world, the willingness of customers to pay a significant amount can vary depending on the time and other factors. You must understand the fact that you are not the only one selling online; your competitors also sell similar products. So if you do not offer reasonable pricing, they may turn to your competitor. You can use price tracking software such as etraKY BS to manage a price across channels. It can provide insights into your competitor’s product pricing; based on that; you can implement a decent pricing strategy.


Selecting the Best Match Algorithms

In the process of using eCommerce analytics, utilizing best match algorithms can be terrifically beneficial. Such an algorithm tests two different versions of your eCommerce business, the landing page and call to action button. Also, it records the more compelling data for getting your customer’s desired reaction. Based on such information, you get a clearer picture of what will lead to generating more revenue. Believe it or not, some analytical capabilities can modify the choices depending on specific times of the year. It ensures you are receiving good perspectives of what customers are doing.


Abandon Cart Data

While dealing in the eCommerce industry, cart abandonment is the most usual factor. Now or later, everyone has to face this situation, and it happens when a customer adds a product to the cart but hasn’t bought them. There can be several reasons behind this, but if you have the data, it can help you understand their shopping behavior. According to a recent survey, 25% of customers come back to buy the same product they have abandoned in the past.

So it is essential to analyze what’s wrong when they first add the product to the cart. Whatever the cart abandonment score you get through the eCommerce analytics, you should have the heart to accept that and work toward minimizing the abandonment rate. With the help of such analytics, you can look at the payment methods or is there a problem that forces the customers to abandon the cart. If you get the results, you can indeed become able to resolve that.


Conclusion

Thus, eCommerce data analytics, first of all, needs the extraction of the data. After that, it can also provide the capability to monitor the customer’s sentiment, customers’ response towards the product, and your competitors. Data extraction from various eCommerce platforms you are selling your products can help you better implement your selling strategies. As an eCommerce brand or a seller, you must use data analytics to have clarity over your online business. You can later determine whether it is going well or if you need to make some changes. Always remember that if you have accurate data, it can eventually help you generate more revenue. So it is better to implement eCommerce analytics.

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