eCommerce has taken the business world by storm. The way business is done today has totally changed. More than selling products and services, it’s more about marketing, and targeting the right audience. However, many people fail when it comes to online marketing and brand monitoring. As a result, the sale of their products goes considerably down.
Nonetheless, eCommerce insights are there to solve your problem.
As the name suggests, eCommerce insights provide brands with useful “insights” such as the ongoing market trends, brand strategy, shipping policy, price comparison range, and various other factors crucial for an eCommerce business. You can also get an idea about which marketing channels to use to attract more customers and to have a long term business relationship with them.
eCommerce insights can help you double your sales in no time by reaching out to the right consumers of your products. What else? With eCommerce insights, you can get hold of all the hidden information. You can even know what business strategies your competitors are following.
From your product’s performance to its purchase rate, everything is sorted by eCommerce insights without any hassle. You no longer have to spend hours going through large databases in your system. It’s less time consuming and result-driven.
So, let’s learn more about eCommerce insights, their benefits, and primarily about four major companies that can help brands discover their eCommerce insights.
eCommerce insights include the following major reports:
- Product Insights: Where brands can find out about their top sellers, lowest sellers, and even their most discounted products or services.
- Marketing Insights: Where brands can discover which marketing channels can help to bring more customers, and get the highest Lifetime Value (LTV), in addition to knowing which channels can prove the best returns.
- Customer Insights: Where brands can learn about their best or most loyal customers, their wants, and their opinions.
How do eCommerce insights benefit brands?
eCommerce insights offer brands a quick and easy look into their product performance, thereby revealing the customer and product trends which they can use to increase their overall sales.
This, therefore, provides them with data on how to grow their business. With the use of eCommerce insights, brands can track their Average Order Value (AOV), learn more about their fixed customers and even find out which of their products are the lowest converters. The best part is that they can do all this without having to create reports, sift through a large database, or look through spreadsheets.
Therefore, when it comes to eCommerce insights, which companies are the best to cover them?
With worldwide eCommerce sales amounting to over USD 3.5 trillion in 2020 itself, there is an urgent need for brands to use eCommerce insights for their growth, increased sales, and overall welfare.
Four major companies in the market can help brands discover their eCommerce insights. These include:
One of the leading big shots when it comes to discovering and monitoring your eCommerce insights, BigCommerce simplifies the entire eCommerce management process for you. In addition to providing you with inventory management tools for improved eCommerce planning, this company also designs personalized shopping experiences for different customer groups.
Moreover, it also helps you to target more customers, and drive increased traffic to your brand website. Finally, it also helps you as well as your customers for better sales conversion by streamlining the process of checkout.
- Nielsen Brandbank:
Following BigCommerce is Nielsen Brandbank, another top contender in the market. Since Nielsen has thousands of international brands and retailers in its portfolio, it uses this expertise in offering brands with intelligent eCommerce performance monitoring. By doing so, it provides the brands with a centralized view of all activities across their trading partners.
This way, it also enables them to compare their goods and services to those of their competitors, both online as well as offline. Whether it is staying up to date with the latest trends and promotions, tracking pricing, or monitoring stocks and inventory, Nielson provides them with a one-stop solution related to eCommerce insights.
Known for turning eCommerce reviews into a 5-star product experience, Revuze helps brands understand their eCommerce insights using Alternative Intelligence (AI). And it does so without taking any help from market experts or involving IT. Revuze uses the power of AI to understand the opinions of the consumers, and then further uses this information to identify the main causes of issues that the consumers face. And it does all this in a matter of a few hours, instead of weeks or months.
Revuze collects consumer data from various sources, such as eCommerce reviews, surveys, and so on. Then, it classifies, sorts, and organizes this data into usable insights to describe the needs of the consumers across different categories.
- Lightspeed HQ:
Lightspeed also tops the list of companies that help brands to discover eCommerce insights. It uses a combination of different tools in their POS system to help companies and brands expand the operations of their business not just digitally, but globally as well. Having a very easy to understand, modern, and intuitive user interface, Lightspeed HQ also offers various customization options to brands.
Furthermore, companies can also integrate the tools provided by Lightspeed HQ with other third-party applications, for an even better experience. Users can also enjoy a very smooth back end inventory management with the use of tools provided by this company.
Designed to make eCommerce more engaging and feature-rich, especially for the business owners of the digital age, eCommerce insights are an important need of the hour, especially since they help businesses to keep moving and increasing sales. They help a business to grow by using all the metrics that matter but are greatly overlooked.
All of the four above-mentioned companies can help brands to discover eCommerce insights, which will enable them to spend less time with their data and more time in using their available intelligence. Discovering their insights can also help brands track a product’s performance down to every single one of its variants while studying if a particular time of the year impacts the product’s sales or not.
In today’s digitized market, a consumer has thousands of products they can choose from when they shop online. But, with online shopping increasingly overpowering the traditional methods of shopping, and changing the buying habits of consumers, it is eCommerce insights that will help brands and sellers to ensure that they are keeping a track of the products they are selling at all times. And the availability of eCommerce insights platforms like BigCommerce, Revuze, Nielsen Brandbank, and Lightspeed HQ, among others, all of this can become a fast, easy and efficient process.