Category Management

Category Management & Its Vitality in E-commerce

Category Management is a function in retail and e-commerce businesses wherein related products are grouped together under distinct categories. This is done in order to manage their performance in an efficient way by all means.

As a matter of fact, the e-commerce industry is enormous. Still, it functions in a smooth way. You might be wondering how it is possible in this competitive world. There is a secret recipe behind it, and it is ‘e-commerce category management. There is a specific group of experts who predominantly deal with matters of concern in various categories. These e-commerce category managers are the guardian angels of your business. They are in charge of everything- right from the pricing to space allocation, and much more. The list is endless.

Moreover, when a retail or an e-commerce business reaches a level, where there are thousands of SKUs across many different product departments, there will be a change in the scenario. The category Manager should assign tasks for his team members, and he will be solely responsible for the ROI, subsequently.

Category Management is often doled out by big retailers, such as grocery stores, home improvement stores, and major e-commerce players like Amazon, in particular.

Category Management predominantly stands for the organization of product categories, which provides solutions for everything in our modern world. Just recall your last trip to the Super Market: how long did it take for you to find the PANEER? You very well know that it belongs to the category of dairy products. Hence, it is located on the shelf next to the milk.

Just Imagine if the Paneer was classified, for example, as a dessert; how long would it take for you to find it? It will be really time-consuming, isn’t it?

Category Management regulates the organization of retail space, both offline and online! It is the categories you need to shape up when molding online store browsing and developing your website design.

In addition, Category Management involves working with procurement. For instance, knowing what is included in every category of your products and what KPIs it is supposed to meet allows you to choose only the best suppliers. Apart from that, you can also negotiate the most favorable collaboration terms in a professional way.

One of the shocking revelations is that owing to poor category management,  an online business can lose up to 30% of its customers. Hence, a professional category manager is worth their weight in gold, undoubtedly. So, what are their duties/responsibilities? How do they contribute and bring maximum results to your business? Let’s take a look.

How to Become a Category Manager?

A Category Manager is visualized as an independent business unit manager. Hence, in order to become a category manager, you should possess good business acumen and managerial skills. You will also be expected to have an extensive experience with or product knowledge of the category you will be managing.

Vital Skills Required :

  • Relationship Management 
  • Communication Skills
  • Business Acumen
  • Analytical Skills
  • Presentation Skills
  • Excel Knowledge
  • Category Knowledge

 Category Manager’s Role in e-commerce?

The phenomenal responsibilities of a Category Manager in the e-commerce arena include:

  • Data Analysis to determine the market trends and consumer requirements
  • Strategy Development for category management
  • Developing tactics for promoting specific product items
  • Communication with suppliers
  • Building long-term relationships 
  • Concluding favorable terms of cooperation with an excellent price-quality ratio;
  • Order Placement
  • Procurement Dealing
  • Placement of product categories 
  • Determination of the most competitive as well as the profitable prices for product categories
  • Demand Forecasting
  • Budgeting and cost optimization
  • Stock Replenishment

Benefits of Category Management:

The preeminent goal of the category management function is to make sure that each category’s performance is maximized to its fullest potential. This can be achieved by implementing different strategies and tactics. It includes supplier management, visual displays, and sales performance management.

In general, each category is treated as a stand-alone business unit and extra care is provided to the different product SKUs under that category. This determines that the products don’t get neglected, and inventory return is also maximized as much as possible.

Furthermore, each category will have it’s own Open to Buy, and managers will render extraneous insights into the sales forecast of the category’s products.

Another sovereign benefit of category management is a consolidation and achieving savings through economies of scale.

The reason behind this is, the purchasing for all the stores of the same retailer will be centralized through the category manager.  Hence, instead of buying for one or two stores, the manager will be procuring for a chain of 50 or 100 stores and will be negotiating for better product prices. Ultimately, an enormous bargaining power will be transferred to the retailers. This will pave way for further negotiation in addition to product cost savings.

Vital strategies:

  • Traffic Building
  • Transaction Building
  • Turf Defending
  • Profit Generation
  • Excitement Generation
  • Image Building

Category Management Tools 

Open to Buy Plan: One of the most important Category Management tools to plan and manage inventory is this OTB. Open to Buy (OTB) is a planning tool that gives an overview of the inventory levels in the category. Further, OTB also gives us an idea of the requirement of the inventory in order to deliver future sales goals.

Google Trends: Another tool that is utilized by marketers and that we have found to be of utmost use in category management is Google Trends. This tool aids the category manager or buyer in spying out specific trends inside their respective category. 

Category Management Considerations:

The primary goal of category management in the first place is to devote more attention and resources to each category in the business. However, since category management is a function of a bigger business, it is very imperative for the top-level management to ensure that the different product categories do not cross swords with each other or endanger each other’s plans. 

In the end, all the categories have to assure- that they communicate the same message of the business to the end consumer and also render their due in brand image building. This is especially important when it comes to the implementation of different pricing and promotional strategies. 

In a nutshell, we can say that the importance of Category Management is growing by leaps and bounds. For the enhancement of business, it is vital to follow a proper category management strategy. You can also reach us at www.infognanasolutions.com for further clarification.

E-commerce Product Page

E-Commerce Product Page Optimization for Enhanced Sales – Know how

E-Commerce Product Page Optimization for Enhanced Sales – Know how

Introduction: 

In this millennium, where you have to keep afloat in a hyper-competitive e-commerce market, you need to embellish your strategy and technique on a regular basis. How you flaunt your products truly brings you brownie points. Product pages containing congruous information play a pivotal role in converting your visitors into prominent buyers. So you must keep a tab and keep them spiked at all times. 

This article throws light on the few tips & tricks that can glean your website from zero to a hundred, real quick!

Why Is Product Page Optimization Crucial?

As per a recent study, only 2.86% of e-commerce website visits get converted into a purchase subsequently. This intends that the trend is in motion and buyers are in search of first-rate quality.

Product Page Optimization & Inherent Tricks:

  • Fascinating Product Descriptions:

Product descriptions are your customer’s first impression of the product labeling. If you do not make them appealing, it might mislead the customer thoroughly. Another thing to be noted is that the description must be short, crisp, and fascinate the customers by and large. 

A descriptive copy must invariably contain information about your brand too. At the same time, to kick into the information, you can also include ‘handbooks’ and ‘how to use guides’ in particular.

 
Presentation plays a significant role when throwing light on product descriptions. You can easily connect with the buyer through stories.

  • Attractive Product Images and Videos:

The evolving e-commerce ambiance requires you to be one step ahead in every domain. Most of the customers have high expectations from your product descriptions and as a matter of fact, product page designs also.

Hence, it is mandatory to ensure that the images used for the product listing page are of good quality. It should also zero in on the product features appropriately. Utmost care should be taken to ensure that the image turns out to be a replica of the original product. In addition, gracing the image with too many filters will also not do justice to the product. 

Lately, there are myriad methods to display your products. Product videos are one such alternative. 

Another innovation in this arena is the incorporation of 3D and 360-degree images. Even though the concept is novel, 70% of the sellers are slowly adopting it into their strategy. 

  • Attention-Nabbing CTAs:

Call To Action is what kindles your buyers to add the product to their cart and make the final payment. CTAs serve an essential purpose in your product page optimization strategy.

The CTA content must steer the buyer to click on it. Words that scintillate urgency, an attractive/ bright color to highlight the CTA, and above all a clear font will be the key factors for formulating the CTAs.

  • Additional Shipping Costs:

Nearly 90% of the customers abandon their carts because of hidden costs. They are not displayed early on in their shopping journey. Usually, people get a chance to glimpse the additional shipping costs once they reach the checkout page. To put an end to this scenario, the prices you display must be inclusive of the shipping rates. Another pinch-hitter is bestowing free shipping over a threshold amount. To balance the shipping costs, it is mandatory to partner with a platform that brings in discounted/slashed rates. 

  • Mobile Optimization:

Mobile Commerce is gearing up. As per a recent survey, 49% of consumers lay their hands on mobile phones for shopping. So, if your product pages are not optimized perfectly for a mobile screen, you could be leaving behind out on some substantial customers. 

Furthermore, to provide your buyers with a persistent experience on all platforms, formulate appropriate content for each screen subsequently. In addition, it is vital to manage your images and videos. Ensure that they do not add to the load time, and that their size also falls in place with the screen size. 

  • SEO Optimization:

Apart from being winsome, your pages must also fetch more traffic to your store. This is only attainable and achievable when your website ranks on search engines. Without adhering to proper SEO strategies looking for page optimization will be very hard.

To begin with, ensure that your title and description have the exact keywords. Secondly, add the meta description and title tags to the page, along with the alt text to the images. 

  • Authentic Customer Reviews:

Every customer who is shopping online expects validation for their choice at some point in their journey. Hence, by displaying customer reviews on your product pages, you can give it to them before they look for them deliberately.

In the meantime, registering personal details will be an added boon/advantage. For instance, the product size the customer purchased, the final fit, and their feedback about their experience will fit into the bill. 

  • Page Load Speed:

In this fast-paced competitive world, nobody has time to spare. Hence, the slower your page loads, the chances of your customers sticking around will gradually reduce. 

It is advisable to regularly test the speed with Google Page Speed Insights to make sure that the speed is on par at all times.

  • Appropriate Return Policy:

When you give the customer an option for the product return, chances of conversion surge up. But, it should not burn a hole in your pocket, in particular. Hence, it is mandatory to draft a return policy that answers all queries. It should also clarify the step-by-step process for product returns

  • Product Recommendations:

Personalized feeds are the latest and happening trend. Moreover, there is a no better option to provide a personalized experience than recommending products. Product recommendations instantaneously give the customer a feel of a customized experience that is curated exclusively for them. 

Final Thoughts:

Product listing pages are the actual and real selling points for your buyer. Make sure you do not ignore them. Always Keep a close eye for detail. Above all, you can take the help of the right technology to ensure proper e-commerce inventory management.

 

E-Commerce Marketing Strategy

E-Commerce Marketing Strategy: Live Streaming & its Positive Effect on Your Business

When you’re contemplating enhancing your business, creating a strong social media following is crucial. For instance, Social media allows you to engage with your customers where they are, sprouting those relationships and keeping them exhilarated about your products. At the same time, how can you keep things fresh with your social media marketing- if all you’re focusing on is posting text-filled graphics and still photos? Looks like a million-dollar question, isn’t it?

Live stream marketing can be a thumping way to build customer trust and show off the prominent parts of your company. Eventually, it will turn out to be a top-notch business strategy.

What is Live Streaming?

Live Streaming is interacting with your audience in real-time. For instance, going live and transmitting to your social media platforms simultaneously. As a result, Live Streaming can be a goodly tool to announce new product releases, render facility tours, or conduct Q&A sessions. 

Builds Trust & Affinity:

Live Streaming can be a powerful and effective tool to build trust with regard your audience. Once you begin the interaction, you can showcase that you’re a trustworthy company with the craftsmanship needed to embark upon problems. But how do you acquire customers’ attention long enough to begin building that trust? That looks like a million-dollar question by all means.

Even though Live Streaming isn’t the same as a personal interaction, it braces your audience to capture more of your personality and expertise than the traditional text. You can always embark with them on a more personal level while still radioing a wider number of people. This jacked-up trust could lead potential customers to take the extra leap and make a purchase. Sounds like a smashing Marketing Tip, isn’t it?

Keep Customers Tied Down:

One of the foremost ongoing struggles of social media marketing is keeping your customers hooked. You can create any number of social media posts, but if your customers aren’t engaged, then you might get a feel that you’re shouting into a void. Live streams can be an incredible way to keep your customers interested and invested in the company’s happenings, in particular. 

According to a recent market report, people are more likely to enamor with video posts in comparison to text or video posts. At the same time, that will provide you the chance you need to engage them with your phenomenal customer service and products.

Keep a sense of Zeal:

Generally, when marketing your product or service, it is mandatory that you want to make your customer feel as though they have been missing out on something stupendous. For an e-commerce business, one of the great tools that can be relied upon is Live Streaming

Schematize your Audience:

It may sound ridiculous, but one of the consummate things about Live Streaming is that it helps you to schematize your audience for marketing efforts. In order to make your marketing strategy more efficient, you should ensure that you’re only getting in touch with people who have a real zing in your products. Else, you will end up trifling money with investments that will never bring you any returns back.

Furthermore, when live videos take place on your schedule, it automatically whips into shape your customer base. Only those customers who are most patronized by you as well as your services will make the time to catch up with the live stream. Once you have your audience in place, then you can speak confidently, knowing you’ve already won the hardest part of the battle by grabbing their attention.

Throw up Strong Content:

Perpetuating a strong social media campaign is critical and also vital for any business subsequently. But it is mandatory to ensure that you’re plunking down high-quality content that offers real value to your customers by and large. You’ll end up losing your followers if you’re popping out fluff content for the purpose of just filling a marketing checklist rather than catalyzing quality content. 

All the more, a live stream campaign can help you to concoct strong content that your customers will treasure having on their news feeds. These videos will automatically give you a chance to showcase to your customers the best of your company, undoubtedly.

Summing Up:

Live streaming can be an important marketing tool that paves the way to engage with your customers and buttress those relationships. You can create a sense of urgency and zest for your new product launches and bring to light the best parts of your company. On the contrary, you can also create strong content to use across your social media platforms predominantly to keep your following and your bottom line growing simultaneously.

Willing to explore live streaming tools for your company? Get in touch with INFOGNANA SOLUTIONS

Retail- Customer Retention

Are Loyalty & Reviews the Driving Force behind Customer Retention?

You will not have a second thought when it is said that product and site reviews are invaluable in your business and also for the growth of your brand. Social proof collection and establishing the most needed trust from the moment your customers interact with your brand is very vital as it facilitates customer retention. Some of us will be wondering what action the businesses will take once their customers provide them the star-ratings of their choice. How are brands utilizing the most of their customer reviews which are really hard-earned in the current scenario?

Loyalty programs are incorporated into their reviews strategy to build a high customer retention rate. 

Harmonization of loyalty & reviews strategies: 

New channels within Ecommerce marketing highly target the initiatives that enhance customers’ average order value (AOV), customer retention, and customer lifetime value (CLTV) by taking advantage of the amalgamation between brand loyalty and reviews solutions. In simple words, we can say that the brands are making use of their loyal customers’ star ratings and reviews provided by them as one of their customer retention strategies.

As per the recent study, loyalty programs are very vital for user retention owing to the aftermath of the pandemic. Moreover, for the smooth functioning of your business, retention of high-intent customers will be considered as a wise decision in comparison to the acquisition of new ones.

According to the latest survey, it has been found that nearly 65% of the shoppers wish to shop directly from their loyal brands. 

Retention Strategy’s First Step- Reviews: 

It has been found that more than 94% of purchases for products are happening only when the users glance at the 4- or 5-star ratings of the product. This is evident to show how much trust most of the consumers put in the word of their fellow shoppers. 

Next million dollar question which flashes in your mind will be: How do you get more positive reviews/ 5-star ratings? You will get nothing for free. So, you can offer points to your happy loyalty program members in exchange for their positive feedback as they may pave the way in increasing customer retention. Not only do you keep your loyalty members jubilant and incentivized to buy with the points for their purchase; but you also create room for additional social proof for new customers. 

Easy Ways to build retention with Loyalty and Reviews:

Loyalty programs and the reviews strategy are known for the stimulation of repeat purchases, establishment of brand trust, and enhancement of community engagement. Hence, the combination of these two efforts keeps the majority of the shoppers engaged and coming back for more purchases in the long run. Customer Retention is the main catch involved.

  • Boosting Customer Lifetime Value (CLTV) by leveraging reviews 

           Most of the businesses witnessed an upsurge in their CLTV by 2x after just one year just by focusing on converting their first-time shoppers into repeat customers and, gradually, making them don the role of ‘brand advocates’, by building a community effectively.

  • Maximizing repeat purchase rates and AOV with cooperative customer experiences

            In the current business world, almost 50% of consumers prefer to enlist with a brand’s loyalty program via mobile device when they do shopping in-store. This kind of hybrid shopping experience advocates that shoppers are searching for loyalty experiences that are highly user-friendly and pave the way for the unification of online shopping and offline shopping.

Enhancement of CVR with Social Proof

Social proof is one of the most important factors in marketing that allows you to promote and showcase your brand and meliorates the feasibility of attracting more customers and also client retention.

In a nutshell, we can say that rustling reviews into user retention is always possible with apt technology. Moreover, with the skyrocketing growth of Ecommerce, brands are tasked with staying pertinent and also up-to-date in an extremely competitive online landscape. By foraging existing loyalty customers’ feedback and also by incentivizing brand engagement, businesses can create very amicable and strong emotional connections and sustain brand loyalty virtually with no customer retention cost.

content intelligence

Why Content Intelligence is Important for your Business.

The monitoring and analysis of interactions with published material is the subject of content intelligence aka content analytics. Blogs, articles, podcasts, movies, and product visualizations are examples of this. This makes content intelligence beneficial for all individuals and teams who develop and distribute content, such as public relations, marketing, communications, and sales. Continue reading to know more about content intelligence and its value to your business.

The Modern Sales cycle requires content intelligence.

The purpose of content marketing in digital marketing is to deliver the right content to customers and prospects at the right time and in the right location. Content must give extra value to the recipient and relevant additional information throughout the purchase decision-making process.

Content intelligence analyses the usage of marketing materials and identifies relevant patterns using technology such as machine learning (ML) and artificial intelligence (AI). Marketers may use this information to produce content that improves the online customer experience throughout the customers’ journey.

With Content Intelligence, most marketers can easily interact with and engage their consumers. Content Intelligence, in general, assists marketers in the following areas:

  • Content strategy evaluation, creation, and performance optimization
  • Using competition data and research to develop the type of content that is tailor-made to audience preferences
  • Experiment with various content types and how they should be generated, such as content intelligence-based videos
  • AI analyzes content for style, tone of voice, and other important metrics to generate relevant content
  • The ability to forecast the efficacy of your content based on the performance of your competitors in the past
  • Lets you create high-quality, useful content that helps you attract more visitors, enhance conversion rates, and get prominence in search results

Trending Software for Content Intelligence

While conducting competitive intelligence on your own is doable, the software simplifies the process and produces results quickly. Let’s go through some high-quality tools you may use in your approach.

  • Buzzsumo – Buzzsumo uses keyword search to assist marketers to uncover trending and relevant content throughout the web around a topic, allowing content creators to reproduce successful content that is already working well for other businesses.
  • SpyFu – SpyFu is a content intelligence tool for search engine marketing. SpyFu enables marketers to “spy” on their competitors, identifying the keywords they are bidding on in Google Ads and other ad platforms, as well as the content promoted through those platforms.
  • Optimizely – Optimizely is a popular enterprise content management system that includes content intelligence technology that gives real-time recommendations for content enhancements powered by AI directly within the CMS.
  • Curata – Given the volume of content published every day, content curation is becoming as important as content production itself. Curata is a content discovery and curation solution that helps businesses expand their content marketing initiatives.
  • Contently – Contently is a content analytics tool. Attention time, repeat visitors, and content’s social reach are some of the data metrics that Contently assists marketers in measuring.

Benefits of content-driven e-commerce.

Retailers and manufacturers may transform their digital presence to surpass consumer expectations and gain a competitive advantage by better understanding the cause-and-effect relationship between outstanding content and well-planned e-commerce experiences.

  • Increased Brand Awareness 
  • More organic traffic & Conversions 
  • Brand loyalty
  • Better user engagement

There are several advantages to knowing the benefits of content-driven e-commerce. Even if your e-commerce website is not ranking well, you may still work with Infognana Solutions to optimize it and enhance your ROI. Contact us today and let our team of experts assist you in developing a comprehensive digital marketing strategy that includes content that attracts, engages, and converts.

customer experience

How Content Intelligence Enhances Customer Experience

Content Intelligence is a marketing strategy that employs the benefits of artificial intelligence and machine learning to create more managed and high-quality content with the help of relevant data. Content intelligence comprises various techniques to improve content quality and value, including content audits, channel optimization, social listening, competition intelligence, etc. Combined with customer engagement planning, this content approach offers a smooth customized customer experience.

Artificial intelligence (AI) and Machine Learning (ML) are used in content intelligence to make it more manageable, enhance its quality, and improve its performance. When integrated into a centralized customer communications management (CCM) platform, these sophisticated features could automate and simplify optimizing and managing complex customer communications. Content intelligence is used in the following areas:

Integrating related and redundant content.

A Content Intelligence platform can evaluate your vast library of existing customer messages and consolidate redundant content. It increases efficiency in modifying and managing communications and consistent quality in messaging. Manually doing this is highly resource and time expensive and may be prone to errors.

Ensure consistency and adherence to brand guidelines.

AI can detect content elements incompatible with an organization’s brand requirements, ensuring consistency across all communications and platforms.

Communicating with clients at their reading level.

It is crucial to ensure that messages are at the right reading level when dealing with the customers. Also, using analytics to analyze every message’s reading comprehension level automatically. Informing when you are out of sync with the intended readability profile can also be obtained using content intelligence.

Appropriate channel and time:

Most marketers encounter issues determining which content goes where and when. It’s not about providing random content all the time. Still, the relevant content on the proper platform could result in a high conversion rate. Using AI to promote content offers several advantages, including evaluating the performance on multiple platforms.

Expressing a responsible mindset in every communication:

Today’s customers expect personalization. Personalized marketing techniques for customer-centric businesses are the most excellent method to show clients that they care about their requirements and preferences. Curating content to assist clients at various phases of their purchasing journey is an added advantage. The advantage of using content intelligence is that you can track the channels that are influencing your prospects and customers to conversions.

Conclusion

Using Content Intelligence capabilities for customer communications is an effective way to considerably improve the customer experience by allowing your company to manage and re-use content more efficiently, implement advanced personalization, and maintain brand and messaging alignment across all communications channels. Use AI as soon as possible in your customer communication procedures. Please read our blog to learn how artificial intelligence (AI) is used to curate content and its significance in digital marketing. 

Infognana Solutions is here to assist you in the process, call us today! A whole new world of easy interaction awaits you.