Here’s how digital shelf analytics will help you supercharge your brand’s online reseller channels in 2021
Or better said. Are you among the brands attempting to achieve digital excellence for your online product sales this 2021? You are not alone. Before the pandemic struck, the US forecasted its digital marketing spend to reach 46% of all advertising by 2021. Now, however, with triple-digit e-commerce growth, this trend is likely to speed up even faster.
Many brands know there are enormous opportunities online, especially with increasing demand for their products across multiple channels. But they struggle to identify where their key challenges lie and what they must do to strengthen their brand, market share, or sales. This is where technology such as digital shelf analytics (DSA) comes in.
DSA’s ability to cut through the noise and make sense of product performance in areas such as stock availability, findability, and content suggests that DSA will be a game-changer for brands in 2021.
Keyways digital shelf analytics will cut the guesswork and deliver online success for your brand.
1. DSA or digital shelf analytics is the perfect helicopter view of product performance
Auditing product performance can be such a daunting task. And many in-house teams don’t know where to start. However, before you can plan for success, it’s vital to benchmark how your product performs online accurately.
DSA solutions are perfect for generating the helicopter view you need at the start of your data-driven journey. They automatically scour the web with unparalleled accuracy, giving you a detailed status report of where your product’s strengths and weaknesses lie. Key areas include:
- Identifying out of stock products,
- Poor product ‘findability,
- And incomplete or inaccurate product content
– all of which trigger a wave of missed sales opportunities.
2. Easily identify the low-hanging fruit among resellers
Armed with this bird’s-eye view of your product’s performance, digital shelf analytics makes it easy to spot which resellers hold the key to success.
Market-leading DSA solutions generate highly actionable insights, which help you quickly identify, prioritize, and commit resources to the resellers that offer the best opportunity to increase your conversion rates.
These resellers are most likely high-traffic websites/marketplaces where your product descriptions are routinely missing or mixed up, broken links, incorrect images, or your products are out of stock.
DSA can identify these problems in near actual time, removing the guesswork and giving you the confidence to prioritize easy opportunities. This means you can commit precious time, money, and resources to these reseller channels, confident that you’ll achieve the right return on your investment.
3. Stock availability–get the basics right and quickly
Digital shelf analytics has lots to offer, but many brands want to stick to the basics first. Take the example of international petfood brand Royal Canin, which had an issue with out-of-stock products within its reseller channels.
Thanks to Detail Online’s granular insights, Royal Canin has seen beyond simple sales figures and shows its resellers when and for how long products have been out of stock on their platforms.
Niklas Rantzov, Royal Canin’s E-commerce Category Development Specialist, says:
4. Digital shelf analytics delivers accurate data-driven insights you can trust.
The best DSA solutions achieve levels of accuracy and speed that far outstrip the efforts of human auditors. This means that DSA insights make it easier to spot trends in real-time, survey price changes, and make data-driven decisions. Rather than focusing on a static document, DSA presents an ever-changing flow of accurate information that better suits eCommerce’s fast-paced nature.
5. Achieving a single version of eCommerce truth.
One of the biggest benefits of a centralized DSA service is that all key stakeholders within your organization can access a single highly accurate version of the truth. Avoiding and reducing data handling errors and delays, which repetitive manual auditing processes can trigger.
Some worlds’ biggest brands now see this single version of the truth as an effective way to break down internal silos within their organizations and get teams working closer together towards eCommerce success.
6. Maximising your product’s ‘findability.’
Consumers won’t buy your product if they can’t find it. Market-leading DSAs check your product is being sold in the most logical location, and it hasn’t been mis-categorized.
For example, it is proper to list a laptop computer in a home electrical category with similar products and brands. Digital shelf analytics also ensures the retailer or marketplace uses the desired keywords for your product and has given it the correct prominence level on their platform.
Leading DSAs reveals your product’s search ranking and how it ranks compared to similar products made by your competitors.
Having established this, you’ll know where there is a need to improve your product’s search ranking.
How to choose the right DSA solution
In selecting a DSA solution, accuracy is essential. Market-leading solutions can achieve an accuracy level of around 98%.
That’s because they don’t just search and fetch product data; the most advanced DSAs also feature a validation loop that ensures data is correct.
- The best DSAs use customized bots to dig deeper into product detail, analyzing product content. They don’t just check primary product videos, photos, and descriptions; they go deeper to optimize your secondary and tertiary content.
- Another critical consideration is that leading DSAs search for data ethically, without slowing down the retailer’s eCommerce platform.
They do this by ‘following the sun’ worldwide, analyzing websites when traffic is at its lowest, usually during the early hours of the morning.
It presents all of this information as real-time actionable insights using user-friendly dashboards and pushes notifications.
The digital shelf presents an increasingly large and complex sales environment. To successfully convert a growing number of sales opportunities, brands need to automate and analyze data capture right across the digital shelf using a market-leading DSA. Learn more about Detail Online here.