To what end do you spend?
You have entered into the big and bold space of selling your products online. You have fed your product catalogues, individual brand feeds and prices across different comparison shopping engines with the anticipation that they will lead the potential buyer to your website.
You are also working on a budget across these multiple shopping engines and you have allocated different spends for each product or category, on the basis of their perceived popularity, demand patterns and profitability.
Yet, your returns are not as exciting as you first thought. What do you do now?
Check out these strategies to improve your return on investments.
Management of spend for customer engagement and visibility
If you are setting up feeds and campaigns on individual comparison shopping engines, you are missing the automation boat. Individual feeds, and multiple campaigns will be very cumbersome and time consuming to manage efficiently because they require repeated efforts, collation of data from each channel and then assimilation of data so that you can analyze your spends and its results. It makes sense to use a platform where you can upload your product feed, descriptions and prices as well as offers at one shot across different Comparison Shopping Engines and also sending them your latest updated products feeds in an automated way. This saves time, labor and standardizes your feeds to ensure that there are no errors of commission or omission. You can use the ChannelSale platform for exactly the same purpose.
Once you have set up your feed management on ChannelSale platform, you have begun the first step to support your business analytics and get real-time actionable data on the impact of your campaigns.
Get a ringside 3600 view of the campaign statistics
CSE(Comparison Shopping Engine) management platform ChannelSale will give you overall statistics on your performance – which channel is performing – at what level, the returns per category or per product etc.
ChannelSale.com offers you a powerful analytical tool called Calculus Reports which at the click of a button will generate and analyze your sales traction across all Comparison Shopping Engines to which that you have deployed your feed.
Receive actionable notification about product feed issues
You will get actionable and instant reports about any problems with your feed in individual Comparison Shopping Engines, enabling you to fix the issue without delay. An anomaly in your feed reduces your visibility in the CSE and subsequently will impact your performance.
Prevent expensive Inventory stockouts
Visibility without inventory is wasted efforts. It is akin to spending good money advertising a product and generating demand when you do not have the stock to sell. Keeping track of inventory is a tedious process when you are handling a bunch of individual CSE’s. Using the ChannelSale platform will ensure that your inventory is always available across different channels as you get real-time information on stock depletion – thus stopping stockouts.
View Channel wise traction reports
Monitor your performance by viewing traction reports on individual Channels or product categories. This will help you know which channels are performing, what is the Return on Investment on each channel, and how you need to tweak allocation of campaign funds to maximize the returns on your investment.
Most mature e tailers will have a success threshold when it comes to deploying feeds across different Comparison Shopping Engines. Keep tabs on the success on the basis of ad spend, revenue and margin for individual channels. ChannelSale Feed Management and Optimization is one of the best ways to ensure that your campaigns across different Comparison Shopping Engines are adhering to your threshold of performance.
Tweak product mapping on the fly –
With ChannelSale, you can tweak your product mapping on the fly either individually or in batches. This improves your flexibility and reduces your lead time when you are dealing with multiple product categories and Comparison Shopping Engines .
Be on top of your marketing campaigns across Comparison Shopping Engines with ChannelSale Calculus Reports. These reports are well presented with graphical renditions that help you analyze performance across channels at one shot. It will deliver insights on consumer behavior and enable you to tweak your campaigns to maximize the returns. Compare the percentage wise conversion and traction across different Comparison Shopping Engines and discover which channel is contributing what to your revenue kitty. You can also view performance across different time frames and across different Comparison Shopping Engines.
DIY or Managed services?
Now the moot question is should you do all this yourself – or inhouse or delegate this entire marketing and promotional activity to a Managed Service provider? That is a call that every individual e tailer will have to take. The ChannelSale Managed Service offers you a one stop shop that will efficiently manage your campaign’s across multiple sites and ensure high profitability without charging you an arm and a leg.
Comparison Shopping Engines often change their data feed algorithm and this has an immediate impact on your visibility and conversions. ChannelSale keeps track of these changes and ensure that you benefit from the latest merchandising opportunities thrown up by different channels and keeps up with trends and ensure consistent visibility of your products.
Our approach to ensuring high visibility and effectiveness of your feeds to Comparison Shopping Engines are built around:
o Opportunity Identification
o Program Enhancement
o Data Collection
o Profitability Management
These are some of the success strategies you need to deploy when conducting your marketing and promotional campaign across different Comparison Shopping Engines.
ChannelSale is your passport to accelerated online sales and revenues.
Talk to us today on 1-866-709-9495