In today’s FMCG market, there are thousands of products for consumers to choose from; all stocked across multiple retailer websites. But with online shopping increasing at a rapid rate and consumer’s buying habits changing, how can you ensure you’re keeping track of your products performance at all times? It may seem like a daunting, task – compiling all of the relevant data needed to ensure you’re maximising on product sales, but with an e-commerce insights platform, all of that can become a fast and efficient process. Here we’ve identified 3 reasons why implementing Nielsen Brandbank’s e-commerce insights service into your business can help your e-commerce strategy:
Keep an eye on competitor activity
With so many brands out there, it’s easy to understand that the competition is tough, especially when it comes to pricing, positioning and range, which can change regularly. But do you know how well your products are placed against competitors? For example, how many of your products appear on the first page of search results? Or how well your products perform in a retailer’s search results? Are your competitors getting more coverage than you? Are their products on promotion, out of stock or lower priced against yours? Using Ecommerce insight tools can help you identify all of these factors by collecting the relevant data you need to help make easier decisions in what to do next with your products in order to stay ahead of the competition. With Ecommerce you can keep track of your competitor’s activities daily and maintain your products’ presence across retail websites.
Stay on top of your products, at all times
It may seem logical, but if your products are out of stock or not showing in search results, then you’re not going to be maximising on sales. With the help of Ecommerce Insights, you can compile all of your products into one easy dashboard and monitor your prices and promotions against your competitors at all times. Check your stock availability, promotions and pricing using real-time data and understand where best to deploy your products to avoid further out of stocks. By monitoring all of your products across all retailers you can also collect sales data that can be shared across the whole of your organisation.
Save time, money and resource
Implementing such a platform into your e-commerce strategy may seem like a complex task, with concerns around cost, time and ROI arising. But Nielsen Brandbank has developed an easy to use, cost-effective platform that takes away all of the difficulties previously seen in collecting product data. With Ecommerce Insights you can collect accurate, live data to measure the ROI on your e-commerce strategies, which can help you to refine your approach and begin to plan ahead, ensuring you’re maximising on sales. By automating most of your tasks into one place, you’re allowing yourself to deploy your time elsewhere into other resources. With the help of daily notifications on product ranges and competitor activity, you don’t need to spend hours manually accessing and inputting data. Receive regular updates direct to you and implement Ecommerce Insights into your workload. This, in return, can help you to continually monitor and fine tune your e-commerce strategy across multiple platforms and overtime, see a positive return on investment.