Marketplaces Archives - Page 2 of 2

Top 5 Product Page KPI’s every E-commerce Seller Should Follow

by Admin | Feb 5, 2020 | Ecommerce, Marketplaces

Brand managers are painfully aware of how important KPIs for e-commerce businesses are. You’re likely collecting dozens of different measurements and monitoring them carefully from day to day and month to month. How you track those KPI for product pages has a huge impact on revenue. That’s hardly a revelation for anyone involved in e-commerce.

Brand marketing is a science, a perfect blend of measuring the right analytics and interpreting them accurately. While that may sound obvious, we find in our business that many managers aren’t reading or tracking their KPIs correctly. Measuring experience is a practiced science. Here are some practices to make sure that the KPI for e-commerce business metrics you’re tracking will work better for you.

Your Top KPIs for E-Commerce Business Success

1. Page Load Speeds

According to a 2015 report from digital SEO marketing firm Wolfgang Digital, fast load time leads directly to high conversion rates. It also has a direct and correlative impact on Google search results. Per their data, an additional delay of one second reduces conversion rates by 7 percent. So pay close attention to your product page load speeds, especially for items that aren’t hitting your forecast ROI numbers.

2. Desktop VS. Mobile

While there is quite a lot of hype around the traffic generated by mobile, the conversion numbers still aren’t quite there. Adobe analyzes 80 percent of all retail traffic from the top 100 retailers in the U.S. every year. Their data is vast, encompassing 290 plus billion visits. Because of the company’s massive infrastructure, $7.50 of every $10 spent with the top 500 retailers goes through its marketing cloud. When it comes to mobile, 26 percent of carts on desktops turn into orders compared to only 16 percent on smartphones. However, smartphone traffic is increasing, according to that same report. So, bottom line: balance your focus on mobile platforms vs. desktop accordingly. Read the full report here.

3. Product Page Visits

Measuring the best KPIs for product pages starts with a ranking of your most viewed to least viewed. This is maybe the single most important metric to track for your product pages. What if, for example, the most viewed pages are not generating the most revenue? What is the average ROI for the pages that you spend the most resources promoting? Generate a dynamic report for your product page visits so you can watch trends, especially during big buying seasons.

4. Returning Visitors

The 80/20 rule applies to almost every aspect of a business. For retailers determining how to leverage important KPIs for e-commerce, assume that 20 percent of your loyal customers will generate 80 percent of your revenue. How many of your overall page views are from returning customers? What do those returning customers do on the site? How does that relate to your sales forecasts? Just like restaurants get the most reliable business from their regulars, so do e-commerce sites.

5. Cart Abandonment Rate

If there’s one KPI for e-commerce businesses that needs its own weekly report, it’s how many customers purchase items that they place in their carts. The Baymard Institute went through the effort of collecting abandonment rate statistics from 37 different sources. In 2013, Comscore cited that 67 percent of shoppers abandon their carts. In 2017, Adobe listed the number at 75 percent. Your homework knows the average in your industry and constantly dive into those numbers so you know how your business compares.

Delving into KPIs for e-commerce is as time-consuming as it is crucial. Tracking the right metrics is akin to a doctor washing his or her hands before surgery: it’s good business hygiene. Of course, it’s not easy, and most teams need third party support to do it right. Let us know how we can help.

Important Factors Influencing Purchase in E-commerce

by Admin | Dec 27, 2019 | Ecommerce, Marketplaces

In e-commerce, there are certain factors from the customer’s point of view which influence their purchasing decision. Here’s a look at those concerns that leverage customer buying behavior:

1. Good Product Quality

One of the most important factors influencing consumer buying behavior is the quality of the product and the quality of information about that product. These have a significant impact on the visitors to your website and turn them into potential buyers. Your products must reflect different geographic and regional flavors, speak loud the cultural ethos and fit the trend of the season. Product descriptions, specifications, catalogues and images all influence the customer buying decision process. A convincing and well-crafted representation of the products is sure to fetch better results.

2. Free Shipping Experience

Free Shipping is the second most principal factor in influencing an e-commerce consumer’s purchase decision. Free shipping is an attractive element for frequent online buyers as they save on the cross-border shipping cost to quite an extent.

3. Easy Return Policy

A simple, well-defined return policy is the third most influencing factor in urging customers buy a product. A customer-friendly return policy that’s laid down in clear language is convincing to online consumers. A well-structured return policy in case of faulty goods or mismatched sizes is mandatory for every genre of products, from apparel and household accessories to electronic goods and automobile parts. An easy, no-questions-asked return policy grows a sense of trust among customers for your website or brand.

4. Reviews from Customers

Healthy and positive product reviews from existing customers invite new customers. Appreciating existing customers and positive reviewers with award programs, such as free gifts or discounts on the next purchase, strengthens the bond further. Proactive initiative to resolve the problems of not-so-satisfied customers is also a kind gesture. These loyalty-building gestures encourage a growth in your regular buyer database.

5. Easy Navigation

Most e-commerce websites come with well-defined categories of products. That way, a customer can frame a very good idea of the exact location of the products they are looking for. Incorporating the keywords into the search bar also helps in navigating through the pages and finding the desired products or categories quickly. Accurate keywords create better search results. A well-designed visual sitemap, proper product listing and easy to understand controls like previous/next commands all contribute to simple and easy access, which positively influences customer buying behavior.

6. Hassle-free Checkout

Easy checkout logic is yet another deciding factor. Customers don’t appreciate a complicated checkout procedure. Anticipate their needs and make checkout a simple and logical process. Customers wish to complete the payment within one or two steps through debit/credit cards or net banking. They may need items to be shipped to a different address. They may have discount codes, gift cards or coupons to apply. Once these checkout features are taken care of, customers are more likely to continue with their online shopping.

7. Special Purchase

While shopping online, a customer can opt for several special purchases. Unlike many physical stores, e-commerce services make special categories and special custom sizes available in one destination. Not only this, special deals and special sections also create quite a buzz among customers and convert them into potential buyers.

To have customers coming back for more, e-commerce firms must take care of some factors influencing consumer buying behavior:

must make sure that their website is stable and easily accessible
must invest in building trust and a strong reputation
must focus on maintaining appropriate content volume
must focus on security and privacy policies to protect customers
must promote their website to increase awareness

In an urge to retain existing customers and draw new customers, e-commerce firms are constantly recognizing and implementing customer-friendly actions. All these efforts are made to influence customer buying behavior and take e-commerce to the next level of prosperity.

Want to learn more about how our eCommerce seo optimization strategies can help you to gain better visibility on the web?

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3 Tips to Create the Best Walmart Rich Media Content Pages

by Admin | Nov 18, 2019 | Content Tips, Ecommerce, Marketplaces

With the steady rise of mobile devices and online ordering systems, it isn’t surprising that Walmart began offering a platform for rich media content. E-commerce sales have become crucial to the success of small and large businesses, and Walmart’s Rich Media API tool offers users a way to build on preexisting content. The Rich Media API is available for content providers, drop-ship vendors, and warehouse suppliers. Using a media-rich solution allows sellers to include the following content on their page.

Videos
360-degree views of products
PDFs
Interactive tours
Brand story layouts

Mobile responsive rich media pages are a must, as most purchases online are now made via smartphone or tablet.

Why Build a Walmart Rich Media Page?

While some sellers may not feel a rich media page is essential, there are tangible reasons why they are becoming the norm in e-commerce. Online sales have been shown to increase with the use of rich media on seller pages by 10% or more. Using videos, PDFs, and 360-degree views of products enhances content value and draws customers, which in turn accelerates sales growth, especially since roughly 84% of communications are visual.

It’s in the Numbers

A person is 85% more likely to buy products that have visual influencers like product videos. Rich media pages enrich the customer’s transaction and contribute to a more authentic human experience. SEO-driven marketing content is crucial to obtaining a top spot in search engine results. Staying on top of search engine results is crucial to drawing in customers, and SEO content marketing solutions like those at eZdia create the right content to ensure success. Professional writers develop unique content descriptions, using effective keywords that optimize online sales. We work tirelessly to understand our clients, their KPIs, and their target customers, then come up with a bespoke, client-centered SEO, and content strategy, then use our hand-picked teams to execute. On top of that, we can help you migrate rich media pages between platforms like Amazon and Walmart.

Combined with strong SEO content and marketing, a Walmart Rich Media page is a solid benefit for any seller. Providing enrichment to pre-existing SEO marketing content in the form of visual data draws customer attention. According to a recent article on Business Insider, an estimated engagement rate increase of 5.7% occurs across vertices when visual influencers are used. A Walmart Rich Media page truly makes the difference in forming a personal relationship with your customers.

How to Create a Walmart Rich Media Page

As previously discussed, Walmart offers Rich Media API tools for content providers. Sellers that want to create the page themselves would need to have a working knowledge of computer coding and content development. Alternatively, you’d need to use a compatible template and a specialist eCommerce content agency with an omnichannel experience like eZdia.

1. Get Image Specs Right

Walmart has strict guidelines for photos, and all product images need to meet the following specifications:

1500×2000 pixels for zoom capability
600×800 pixels for standard
1 MB file size
RGB color value
4:3 aspect ratio
Acceptable file formats: JPEG, JPG, BMP or PNG

2. Making Customer-Centered Videos and Virtual Tours

There are four key things to keep in mind when creating rich-media videos and virtual tours for e-commerce sites: engagement, education, quality, and call to action. Engagement requires using visual queues that keep the customers’ attention and hold their interest throughout. Use images that show personal belief in the quality of your product. If you build the items by hand, take the viewer through the process, or highlight the company’s quality standards and testimonials. Be careful of being too long-winded during this process, as the average person only has an eight-second attention span, so grab focus early in the video. Education encompasses product benefits, features, and uses, as well as the materials and the creation process. Keep the following questions in mind when determining how to educate a customer on the product:

Why should they choose your product?
What can you offer that other products don’t?
How can the product benefit them?

Quality videos don’t have to destroy a budget. High-resolution videos can be created using tools found pre-installed on most laptops. Virtual tours of product lines, the creation process, environmental practices, or how you live your mission statement work well to create a more personal relationship with the consumer, getting them to buy into you, not just your product. Finally, end with a call to action. Avoid flowery language like “you simply have to have this amazing product” or “be the envy of Kalamazoo, with the hottest product on the market”. It comes off as salesy and artificial. Active words like use, create, make, or enjoy are less pushy.

3. Using Templates and Tools

Generally, only skilled developers should use the Rich Media API tool, and a media-rich page will always include more complex coding than a standard product page. You can, however, use templates that may have one or all of the following beneficial features.

Rich media
Content tool that works across retailers
Item set up
Content health reports
Above-the-fold content
Tracking for miscellaneous items like pricing or availability (Webcollage Inc., 2018)(Salsify, 2018)

Above-the-fold content is the first content a user sees without having to scroll on the page or jump to another page. It is important that this content grabs the customer’s attention and makes them want to browse through the rest of the page. Content health reports will help the seller gain valuable insight into changes that can be made to increase traffic and sales.

Mistakes to Avoid When Developing Rich Media

Creating Walmart Rich Media pages is time-consuming, and there are lots of elements to perfect. In their rush to get their pages published without utilizing the proper resources and expertise like those offered by eZdia. Here are the most common mistakes we see – and ones that can easily be avoided.

Using non-unique copy. While it can be tempting, you should never just paste an identical copy, as Google does not like plagiarism – even if you’ve only plagiarized yourself.
Creating unique but painfully fluffy descriptions that don’t tell the reader how your product benefits them and why they should buy it.
Not conducting the right keyword research. Neglecting niche, relevant keywords, particularly long tails, in favor of only using head terms, or choosing keywords that aren’t relevant to the product is disastrous because you won’t be ranking for the right terms in search, so buyers can’t find you organically.
Not including enough images. Because your customers can’t touch, pick up, or get close to your actual product, you need to include as many images as possible to show your product from all angles, to give the customer a sense of how the product will look, feel, or perform. 360-degree product tours are incredibly useful for this.
Adding rich media modules before adding product information. This results in absorption failure. Get your product information in and successfully absorbed before you add rich media modules.

How to Get the Most Out of Walmart Rich Media Pages?

To get the best possible Walmart Rich Media page, utilize the information pages available on the Walmart Developer page to find out what can and cannot be included. Find a template option that you can trust to develop content that will attract and keep customers. Make sure products are displayed prominently, and descriptions are honest and informative. Content should be fresh, and imagery should be clear and include product branding when applicable.

eZdia’s CrewMachine Platform helps brands, sellers, and suppliers to update their product pages on Walmart.com with Rich Media within 24 hours.

Let’s get started!

Just give us your rich media source URL and Walmart.com. URL where you want to publish the content.
We prepare a proof of how your Walmart.com page(s) will look with the Rich Media. You can approve or request changes to be made.
Your page(s) will go live on Walmart.com within hours of approving the proof. This all takes less than 24 hours.

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Toys R Us Failed. Here Are the Main Reasons Why

by Admin | May 11, 2019 | Business & Entrepreneurship, Ecommerce, Marketplaces

When Toys R Us announced plans to shutter its U.K. and U.S. locations, the retail industry was buzzing with speculation over why the one-time toy heavyweight had failed after nearly seven decades in operation. While years of declining sales and mounting debt tell much of the story, a series of retail follies and missteps paint a clearer picture of what happened to the former retail giant. Here we outline how Toys R Us’ failure to adapt to changing consumer behavior, innovate its business model, and incorporate technology into the user experience ultimately led to its demise.

Toys R Us ceased to be the “experience” it was once known for.

At eTail West and ShopTalk, two of retail’s recent industry gatherings, experts highlighted how consumers seek shopping trips that are experiential. For example, when you enter a car dealership, you want to test drive a car – it’s part of the car buying experience. Similarly, Toys R Us was known for providing that special you-had-to-be-there shopping experience. “It was ceiling-to-floor toys. It was a destination,” retail analyst Kate Hardcastle said in a February interview with BBC.

Recent years, however, have been defined by a surplus of inventory, sloppy shelves, fewer special events, and near-nonexistent customer service. “Today, a trip to Toys R Us has been characterized as lacking in inspiration,” Hardcastle said. Basically, Toys R Us became old and nostalgic rather than the cool place to go.

Greg Portell of retail consultancy A.T. Kearney added that a breadth of inventory means nothing if you don’t have someone to help you experience it. “It’s hard to sell toys in a cold, warehouse environment,” he said.

Failure to innovate allowed competitors to step up.

Now that its stores no longer put the customer experience front and center, Toys R Us was left to compete on price alone. This didn’t mesh well with the business model that had made the company a “category killer,” meaning it specialized in one type of merchandise, making it the dominant retailer in that category.

The fact is, relying exclusively on toys for profit allowed large competitors like WalMart and Target to offer the same products at a better price. In the toy business, brand loyalty is to the manufacturer, not the supplier, so when competitors priced toys at low-margins or as loss-leaders during the Holiday shopping season and offered aggressive online shipping options, Toys R Us was left unable to compete.

The inability to adjust to a big market shift to ecommerce also left Toys R Us vulnerable to Amazon’s growth. While all retailers felt the impact of Amazon’s presence, Toys R Us took the brunt of it, lacking the resources to fight the traditional discount and dollar brick-and-mortar retailers. Without a major online presence, they were squeezed out of the market.

Too little, too late to introduce new technologies.

Toys R Us’ inability to innovate also spilled over to new technologies. In a world where kids can use a mobile app to distort their face or make them a superhero, Toys R Us’ response was to create one new aisle. Basically, it didn’t adapt to new technologies, it just included them as part of the regular store.

Denise Dahlhoff, research director at Wharton’s Jay H. Baker Retailing Center, went further to point out competitors like Build-A-Bear that were able to adapt to the changing times. The company offered the ability to take a bear that you built online and bathe it in a virtual tub, Dahlhoff said. “It was just more interactive. You could pick your own customized sound for the bear.”

In the end, a series of organizational gaffes and failures led to the collapse of a company once synonymous with the concept of “play.” It’s important to note that no one factor is to blame, but rather a cascade of causes from not adjusting to the constantly changing retail market to not incorporating key technological advancements into the user experience. In a recent piece for Forbes, retail guru Steven Dennis countered the commonly held notion that “physical retail is dead” by stating that no, in fact “boring retail is dead.” So was the fate of Toys R Us.

If your eCommerce business is not producing the expected profit margins, please allow us to help you! Our expertise into eCommerce SEO and eCommerce content strategy will help you to compete with your competitors effectivity and traffic and conversion numbers of your eCommerce website.