Request a Demo

The gigantic eCommerce industry is on the boom and evolving with the customers’ demands. To stay compatible with this business, you always need to be one step ahead of your competitors and your customers. You can do a lot with your products and order fulfillment process to enhance your online presence. It is crucial to execute more customized shopping experiences for your customers to meet their demands and make your business sustainable in this competitive scenario. However, predictive analytics provides you the opportunity to upgrade your online business and provide required information about the product to your customers.

In eCommerce, predictive analytics can be used to forecast the market demands, predict the shopping behavior of your customers, apply dynamic pricing strategies and detect fraud. You can enable predictive analytics by finding past customer data. Substantially, this varied process allows you to analyze customer behavior, enabling advanced personalization capabilities continuously. Here in this blog, you will get to know how predictive analytics can accelerate the growth of your online brand. Let’s find out how it is beneficial for your overall online business.

Significant Benefits of Predictive Analytics

It could be a new term for you, but the method can be relevant for you. Generally, predictive analytics invoke a division of advanced analytics, which is used to make predictions for unknown future events of your online business. Thus, it plays a vital role in identifying the customers’ shopping behavior on various eCommerce platforms in the eCommerce industry. It detects the customers’ choices and helps you improve the entire eCommerce order fulfillment process of your business. It provides you with clear insights into customers’ buying patterns, and you can prepare your future strategies based on that. You can also use a brand analytics tool like etraKY BS to implicate predictive analytics. It effectively automates the predictive analytics process and gives you real-time actionable insights to manage your operations. Let’s see how it is beneficial for your business.

Implement Dynamic Pricing Strategy

With the increasing demand for online shopping, competition is also high in the eCommerce industry. Every brand and seller is pouring their blood and sweat in attracting more customers to buy their products. This is an era where you need to apply dynamic pricing strategies for the various products you sell on diversified channels. Competition is so high that the same customer can find two different prices for the same product on a single eCommerce website. In this manner, through predictive analytics, you can view your competitors’ pricing strategies and then choose a dynamic price for your products. Without this analytics, you won’t be able to fix the price of your product according to the market trend and customer demand. There are considerable tools available in the market that can help you with predictive analytics and let you peep into your competitors’ pricing strategies. This analytics helps you by studying the customers’ history on the eCommerce website you are associated with. To execute the dynamic pricing strategies successfully, predictive analytics can add more value in it by identifying recent and past data in real-time. You can study the customers’ shopping patterns and decide the prices for your products on that basis.

Know the Preference of your Customers

To run a successful online business, it is imperative to know the preference of your customers. Knowing the habits of your customers can make you stand differently from your competitors. Although, with the help of predictive analytics software, you can evaluate your customers’ references based on their past shopping and click-through behavior. You have to go through customers’ browsing behavior and patterns to facilitate predictive analytics. It can help you in improving the customers’ shopping experience. Based on this analysis, you can predict what your customers may look for in the future. It provides you a chance to make an intelligent move to leave behind your competitors in the race for the eCommerce business. Ultimately, it can also help you generate more sales adding more profits to your business.

Targeted Product Recommendations

Once you know about your customers’ recent browsing data, you can target them as your potential customers and guide them to buy their desired products or the products they must buy. Believe it or not, product recommendations play a vital role in customizing your customer’s requirements. You need to display the products on the various websites as per your customers’ shopping habits. Predictive analytics help you analyze the data of various touch-points and make it possible for you to offer them which product they should buy next. Some eCommerce websites, such as Myntra, consistently suggest that their customers buy the next product as their past purchase. For example, if a customer buys a dress, with the help of predictive analytics, you can suggest them to buy good-to-go accessories with that particular dress. It can help you keep your customers engaged with you and provide them with a personalized shipping experience.

Accurate Inventory Management

Inventory management is essential to ensure the best shopping experience for your customers and add decent revenue to your online business. If you don’t know what is in your stock and what is not, how will you fulfill your customers’ requirements? Well, you may end up disappointing them the most. Suppose if a customer places an order, and that specific item is not available in your stock, you won’t be able to fulfill their need. As a result, they can buy the same item from your competitors, and ultimately you will lose a valuable customer. However, it is crucial that you must keep your inventory updated. In this process, predictive analytic tactics can help you. As per the past sales, you can stock up on your inventory. Apart from that, you can also use a powerful brand analytics tool that can alert you whenever an item gets out of stock. You can quickly refill that and minimize the risk of customer dissatisfaction.

Conclusion

Hence, predictive analytics is a necessary term that you can use to brand value in the eCommerce marketplaces. It enhances your sales and provides your customers with a personalized shopping experience. By implementing this tactic in your online business, you will be able to make a future strategy. Remember, historical data can work like magic to improve the sales of your online brand. You must invest in implementing predictive analytics in your business. Compelling analytical predictions can make you proactive in making profitable strategies for your brand. Essentially, getting along with predictive analytics by using any software or technologies can help revamp the operations and approaches of your eCommerce business. It can help those facing trouble generate a profit and provide the ultimate shopping experience to their customers in a specific way. Keeping a record of every data can be a tiresome task but essential for long-term success. However, to imply this process efficiently, you can also take the help of brand analytics tools such as etraKY BS. This enormous tool helps you keep track of your inventory, manage the dynamic prices of your products, keep an eye on the movement of your competitors, and many more.

To establish your brand successfully on eCommerce marketplaces, optimizing your product listing at times is essential. Selling your products online is not that easy; you need a lot of mechanisms to run your business profitably. However, eCommerce platforms have their set of rules and tricks that help you generate revenue, but optimization is something that you need to apply. To make your products visible and accessible to your customers, you need to execute the product listing optimization process.

If your product is not visible to your customers, you can’t generate targeted revenue. In the manner of optimizing your product listing, you can also take the help of listing quality analysis software such as etraKY BS. It can help you in remarkable ways in enhancing your listing quality. The eCommerce industry is booming significantly after the COVID-19 situation. Consumers prefer online shopping more than ever. However, it’s not an easy task for you as a brand to rapidly establish your brand value on multiple eCommerce platforms. That is why you require a well-maintained product listing. In this blog, we have mentioned some of the magnificent product listing optimization tips that can let your brand grow effortlessly.

Five Crucial Product Listing Tips for eCommerce Brands

A quality listed product has the power to convince the customers to buy your products. It’s a mystery that specifies listing a brand’s product in extension to multiple eCommerce platforms and ensuring its customers’ visibility score. This process manages the essential quality of your products in terms of image, description, title, meta tags, and keywords.

Product Title Should be Descriptive

Both customers and search engines appreciate a descriptive title in the eCommerce business. A well-written title makes the customers understand the nature of your product. The product’s title must contain the ranked keyword according to your product. It can help the customers identify your product in the search bar of multiple eCommerce websites. However, you have to implement different tactics on diversified platforms, as it won’t work the same for every channel. You should know that search engines depend on strong keywords and meta descriptions to identify your product. Adopting descriptive titles with relevant keywords signals search engines such as Google to rank your product effectively. You should keep your product title limited to the product name and version.

Apply Elaborative Product Descriptions

The elementary work of a product listing is to help your customers understand the product’s essential features. An elaborative but crisp product description can help your customers to make faster decisions regarding their purchases. Nowadays, every eCommerce marketplace allows sellers to highlight their products’ features below the title. So you should take advantage of this allowance and use it differently. You should mention the features of your product in the bullet points so that it becomes much easier for customers to read them out. Features should be written uniquely or potently enough to convince customers to buy your product. To generate enough sales, you must optimize it often. It has been proven that more than 40% of customers don’t buy the product if it doesn’t contain an elaborative product description.

Use the High-Resolution Images

The key to becoming a successful brand in the eCommerce industry is getting ultimate visibility. To increase the number of your sales, you need to represent your product with high-resolution images on eCommerce sites. Unlike physical stores in online shopping, customers only get to verify the product through the product images. It is essential to add high-resolution product images on various eCommerce platforms while listing your products for selling. To help customers understand the product better, you need to add precise and alluring images. However, some brands in the market don’t allow the customers to use the same image. So what you can do is privately click the high-resolution images of that specific product.

Create a FOMO (Fear of Missing Out) for Your Customers

You must have seen several phrases such as “Only two left,” “limited version,” or “hurry up” on various eCommerce websites. Well, these are the marketing tactics that sellers use to create a FOMO for customers. It reflects positively on the conversion charts. You can also use the same tricks to create a sense of urgency in customers. However, you must sell quality products if you are using such tactics; otherwise, you may have to take the pain of return and refund. Creating the fear of missing out is a significant marketing tactic businesses are using for their benefit. eCommerce sellers and major brands are also creating FOMO to sell their products promptly. In the following few ways, you can also create the momentum of FOMO for your potential customers.

– Use the version of the product highlighted in the title
– Advertise limited stock or hour sales to attract more customers
– Use the dynamic pricing strategy
-Explain the uniqueness of your product

To never lose a potential customer and generate handsome revenue, you need to understand that product listing optimization is a never-ending online business cycle. The moment you get overconfident, you are likely to be replaced. A customer always wants to buy something new and different, and perhaps this could be why Apple and Oneplus are selling millions of phone devices every year. Revisiting your product listing, highlighting new features, and adding highly ranked keywords can help in increasing sales.

Conclusion

You can not deny the specific fact that the eCommerce industry is getting crowded day by day. Thousands of sellers and brands join this club on a daily basis, and competition is automatically getting high. The one offering the best info is likely to win over those providing the dynamic pricing. The element lies in the product listing optimization, and all the factors and tricks mentioned above will work like magic for your online business. To increase your sales on various marketplaces, you need to implement product listing optimization efficiently. The eComm industry and the google market can also help you scale up your sales growth via the search engine results page. Customers should be able to find your product on Google SERP(Search Engine Result Page). In this regard, marketplace seller analytics tools such as etraKY BS can help you with this process. Not optimizing the product listing with time can badly affect your business. Why take this chance when you effectively do this optimization with the help of listing quality software anytime.

Selling Products on various eCommerce platforms is almost comparable to investing in the stock exchange market. You can experience success and failure both. Although, the difference between the two is that it is much more demanding to become a successful trader than it is to be an eCommerce seller. But challenges are here, too, and you need to be active and efficient to run your online business successfully. A lack of these can lead you to failure and decrease the overall sale of your products.

If you are the one who gets demotivated because of decreasing sales volume, then you should remind the words of William Edward Hickson. He said, “if at first, you don’t succeed, try, try, try again,” well, it implements selling products on various eCommerce platforms. It’s never too late; you still have the chance to boot up sales and generate astounding revenue. All you need to do is avoid past mistakes and learn new ways to help you sell your products more effectively. In this blog, we have mentioned some exact reasons that stop your product from selling out.

These Could be the Reason; Your Products are Not Selling

There could be various reasons behind your products not selling online. It can be the combination of the inaccurate product price, negative or no reviews, poor exposure to the product, or undesirable delivery time. Here in this blog, we have addressed several primary reasons your online products are not selling. Let’s find out and make the most of this blog post.

Distressing Product Reviews

Unsatisfactory or distressing product reviews can be the prominent reason behind not enough sales. According to a recent analysis, it has been found that more than 65% of online shoppers read at least one to five reviews before buying a product. However, receiving a negative review is not the end of your online business. Instead, It will help if you take it as a challenge. Offer your customers a solution to rectify the exact problem with the product. Responding to negative reviews with proper feedback can helps turn them into a positive one. Substantially, impressive product reviews have a lot of benefits, such as it helps in increasing customer trust, product ranking on the search bar, and revamping conversion rates. A proactive approach to prevent negative reviews is to get along with a marketplace seller analytics tool that can help you with its agile review management feature.

Inaccurate Product Pricing

It is likely that your online products are not selling because of inaccurate product pricing. You need to maintain the product price across various eCommerce platforms as a seller. A report says, more than 55% percent of eCommerce customers claimed that price was the most crucial factor that convinced them to shop with one particular seller over another. That’s why you should apply a dynamic pricing strategy to attract potential customers and turn them into valuable ones. To execute a dynamic pricing strategy, you should ensure that you have set a minimum price for your product, although you should not be the cheaper seller in the eCommerce market. To maintain the accurate price for your product, you can take the help of price tracking software available in the market, such as etraKY BS. It can even help the brands rectify the price breaching issues as well.

Inadequate Product Listing Quality

On the one hand, where we used to say, “do not judge a book by its cover,” unfortunately, online customers always judge a product by its cover photo. Poor quality product images and improper descriptions can be why your products are not selling. However, here you need to enhance the product listing quality of your online business. In this manner, you need to place high-resolution images of your products so that customers can see what your products look like. The title of your product should be based on high-ranked keywords. It helps the product to get visible in the search bar of the eCommerce website. The product description should be elaborative but in bullet points so that customers can easily read that. The description must include at least 5 to 6 main features of a specific product. However, before deciding on the product title and description, you must conduct keyword research. It helps increase your search visibility and rankings and can bring organic traffic to your business. Several product listing tracking tools are available in the market that can help you conduct keyword research.

Unsatisfactory Delivery Timing

Unsatisfactory delivery timing is another reason your products are not selling online. Based on a survey has found that more than 50% of online shoppers do not buy the products because the estimated delivery time is too far. However, you should look forward to robust shipping and delivery partners to accelerate the delivery timing. If you are an Amazon seller, you can join the Fulfillment by Amazon program. It can help you deliver the products as per your customers’ desires. For another eCommerce platform, you should look for a third-party logistics provider that delivers the orders within two to three days. Ensuring the desirable delivery time can reduce the probability of customers purchasing similar products from your competitors.

Meager Product Exposure

Inadequacy of product exposure can affect the sale of your products. It is necessary to expose your product in various ways for your customers. Non-exposure products can’t be able to attract the customers’ eyes and resulting in no sales. However, nowadays, there are several ways you can use to improve product exposure on various eCommerce channels. You can adopt a multi-channel retail strategy to promote your products outside the eComm websites. You can take the help of several campaigns and PPC ads to make it more visible to your customers. Some websites, such as Amazon, also offer sponsored ad campaigns that boost product exposure and let your sales grow immensely. Apart from that, you take the help of social media platforms as well. It also provides genuine exposure to your products and introduces your customers to your specific product.

Conclusion

Thus, we have covered five valid reasons why your products are not selling in this blog. We have also added solutions that can help you rapidly increase your sales volume. Being an eCommerce brand or seller, you should accept the harsh truth that a product listing is not a one-time task. It requires updating and regular monitoring to crosscheck your competitors and assure profits. Indeed, you can’t do all of this without the help of any automated software. Hence, several Marketplace seller analytics tools are available in the market, such as etraKY BS. It can help you enhance the quality of your listed products on diverse eCommerce channels and ultimately add profit to your online business. If you want to expand your eCommerce business, you must ignore the above reasons and become more enthusiastic about your products.