Category: eCommerce Marketing

Adapting Marketing Strategies for the Digital Age: Introducing the New Ps for eCommerce Success

In the current world of marketing, adaptation is key to staying relevant and competitive. While the traditional 4 Ps of marketing—Product, Price, Place, and Promotion—have long served as the cornerstone of marketing strategies, the rise of eCommerce has necessitated a re-evaluation of these principles. 

With the digital space transforming consumer behavior and expectations, it’s time to introduce a new set of principles tailored to the eCommerce landscape – 

The New Ps of Marketing for eCommerce Brands.

Personalization

In the current era of eCommerce, personalization reigns supreme. With vast amounts of consumer data available, brands have unprecedented opportunities to tailor their marketing efforts to individual preferences and behaviors. Personalized product recommendations, customized email campaigns, and targeted advertising based on browsing history are just a few examples of how eCommerce brands can leverage personalization to enhance the customer experience and drive sales.

Tenovia’s UI/UX expertise and omnichannel technology play a pivotal role in personalizing the customer experience across all touchpoints. By adopting Tenovia’s advanced tool, Tensight.ai, our clients can offer personalized recommendations, emails, and ads tailored to each of their customer’s preferences and behaviors. With our partnership with Shopify Plus and mobile app development capabilities, we empower brands to create smooth and personalized shopping experiences.

Persuasion

In a crowded online marketplace, the ability to persuade consumers to choose your brand over competitors is essential. Persuasion in eCommerce involves crafting compelling messaging, leveraging social proof through reviews and testimonials, and utilizing persuasive design elements to guide users towards conversion. By understanding consumer psychology and employing persuasive techniques effectively, brands can influence purchasing decisions and drive engagement.

Tenovia’s digital marketing expertise, including marketplace advertising on leading platforms like Amazon, BigBasket, Ajio, Flipkart, and more.. enables brands to craft persuasive campaigns that drive engagement and conversions. By leveraging Tenovia’s content and creative services, brands can create compelling content that resonates with their target audience.

Payment Options

 Flexibility in payment options is increasingly important in eCommerce, where convenience and smooth transactions are paramount. Offering a variety of payment methods, such as credit/debit cards, digital wallets, buy now pay later services, and alternative payment solutions, caters to diverse consumer preferences and enhances the overall shopping experience. By making the checkout process smooth and accommodating, eCommerce brands can reduce cart abandonment rates and improve customer satisfaction.

Tenovia’s omnichannel technology and B2B eCommerce expertise ensure flexible payment options for customers.  With our proficiency in mobile app development and headless commerce solutions, brands can offer seamless checkout experiences across all channels. Utilizing Tenovia’s consulting services, brands can optimize payment processes and drive revenue growth.

Promo Codes

Promo codes have emerged as a powerful tool for eCommerce brands to incentivize purchases, drive traffic, and foster customer loyalty. Whether it’s offering discounts, free shipping, or exclusive deals, promo codes can create a sense of urgency and excitement that motivates consumers to make a purchase. Additionally, tracking and analyzing promo code usage provides valuable insights into customer behavior and the effectiveness of marketing campaigns, allowing brands to refine their strategies for maximum impact.

Tenovia’s expertise in digital marketing and marketplace management empowers brands to execute successful promotional campaigns. By adopting our marketplace advertising services and competitor tracking tool, brands can spot promotional opportunities and refine pricing strategies. With our tailored recommendations on pricing and promotions, brands can boost ROI and increase sales.

Price Bundling

Price bundling involves offering multiple products or services together at a discounted rate, providing value to customers while increasing average order value for the brand. eCommerce brands can strategically bundle complementary items or create package deals to encourage upsells and cross-sells, ultimately driving revenue and enhancing customer satisfaction.

Tenovia’s adeptness in marketplace management and inventory planning capabilities enable brands to implement effective price bundling strategies. With Tensight.ai’s predictive analytics and unified inventory views, brands can pair complementary products and craft enticing bundled offerings for customers. Our strategic consulting services provide valuable insights into merchandising and new product development, further enhancing the effectiveness of price bundling strategies.

Price Match

With price comparison tools readily available to consumers, eCommerce brands must be proactive in addressing pricing concerns and maintaining competitiveness. Implementing a price match policy demonstrates a commitment to offering the best value to customers and helps build trust and loyalty. By matching or beating competitors’ prices, eCommerce brands can capture sales that might otherwise be lost and position themselves as a preferred choice for savvy shoppers.

Maintaining competitiveness in pricing is essential for eCommerce brands.With Tenovia’s proficiency in competitive benchmarking and pricing strategy, brands can enact impactful price match policies. Additionally, using Tensight.ai-powered marketplace integrations and supply chain optimization tools, brands can track competitors’ pricing trends and fine-tune their own pricing strategies accordingly.

Price Drops

Dynamic pricing strategies, including price drops and flash sales, can create excitement and urgency among consumers, driving traffic and boosting sales. By strategically timing and promoting price drops, eCommerce brands can generate buzz, attract new customers, and clear out excess inventory. Additionally, monitoring competitors’ pricing trends allows brands to adjust their own pricing strategy accordingly, ensuring they remain competitive in the market.

By leveraging Tensight.ai our clients can strategically time and promote price drops to generate buzz and attract new customers. Furthermore, monitoring competitors’ pricing trends through our analytics platform empowers them to adjust their pricing strategy in real-time, ensuring they stay competitive in the market.

Conclusion 

As eCommerce continues to evolve and reshape the retail landscape, Tenovia continues to adapt and innovate alongside brands, ensuring they remain at the forefront. Our expert product,  services and partnerships with leading platforms offer customized solutions tailored to the specific requirements, spanning from personalized experiences and persuasive messaging to flexible payment options and pricing strategies. Our proficiency in marketplace management, digital marketing, and consulting empowers brands to confidently navigate the intricacies of the digital marketplace.

To keep pace with the ever-changing landscape of e-commerce, especially the D2C landscape, it is a good business practice to re-evaluate your D2C platform and marketing strategy periodically and stay competitive in the market. We’ve narrowed down a few strategies that may help you gain greater visibility and sales on various D2C sites.   

Strategy #1: Update and optimize your product pages

If your product pages lack the necessary details to sway consumer interest, you’re losing out. Ensure that you include:

• High-quality product photos with zoom options 
• Product details such as features, materials, dimensions, specifications, origins, variants etc. 
• A clear call-to-action   
• Brand guidelines – with prominent logo placements, and distinct visual and tonal style 
• Currently applicable discounts and offers 
• Short, simple, and easy-to-comprehend content
• FAQs that answer most, if not all, customer queries 
• Testimonials and case studies (if applicable) 

Even if your product page’s content is rich and well-detailed, it can be improved with an update.   

Strategy #2: Keep adjusting your product pricing with the weather 

When it comes to D2C sales, pricing is never a one-and-done deal. Depending on your pricing model – whether it’s value-based, competitor-based, or cost-plus – you must regularly update your prices. It is also a good strategic move to ensure that your pricing and product mix are differentiated on your own D2C platform vis-a-vis marketplaces. 

Here are some questions you can consider when evaluating pricing. 

• Do you have a fixed revenue target?
• What are your total cost of operation and the value of your product or service? 
• Is there enough demand for your brand in the market and the price point you’re offering?  
• What is your brand positioning? Are you a budget-friendly brand or a premium one?  
• What is the comparative pricing of your competitors? 
• Are there trends in the market that support your pricing? 

At first glance, this can look like a lot of work – if done manually. But the good news is many automated analytics tools can help you collate all this data and provide valuable insights on pricing and repricing your products. 

Strategy #3: Speed up order fulfillment 

Order fulfillment plays a vital role in the final stages of D2C supply chain management. Your goal should be to ensure that your products are placed closest to your customers, and third party logistics partners can help you accomplish that. There are many benefits to collaborating with an order fulfillment partner that will provide:

• Established warehouse management systems and processes 
• Skilled staff    
• Accurate order streamlining – including packaging, shipping, and delivery
• Valuable business insights on inventory planning, packaging and shipping, etc. 
• Supplementary warehouse space and fulfillment capacity 
• Flexibility to scale up or scale down basis demand 
• Better customer service through a streamlined order fulfillment process
• Multiple avenues of customer support 
• Minimized operating and shipping costs 
• Accelerated speed of delivery 

Strategy #4: Invest in robust infrastructure 

Your D2C brand is only as strong as the infrastructure that supports it, for which you have two valuable options – Magento and Shopify. While Magento provides ample opportunities for customization, Shopify is an easy-to-launch platform that can help you launch quickly and effectively. Depending on your business objectives, you can choose the right platform for your business.

Strategy #5: Focus on retention marketing 

It’s not enough to drive customers to your page. It’s essential to retain them too. This is where retention marketing comes in. Using sharp, targeted communication, you can keep your existing customers engaged – be it through email marketing campaigns, loyalty programs, personalization, automation, etc. 

What’s more, in order to offset the sharp rise in customer acquisition costs, the number of competing brands, as well as the costs of paid advertising, retention marketing has now become essential. This has led brands to prioritize and maximize other metrics such as customer lifetime value (CLV) – which measures the value a customer offers a brand during the course of their association, Lapsed customer Rate %, New User Retention Rate (NURR%) and study customer acquisition cohorts in detail.

Tensight has built detailed automated retention cohort and revenue and order cohorting analytics that brands can leverage for deriving insights on their retention strategies.

Bonus strategy: Get the experts onboard! 

Tenovia’s expert D2C management solutions include everything from marketing and analytics to end-to-end support. We get into the depths of your brand, category, and industry to offer you the most effective solutions in cementing your business as an e-commerce success. With our solutions, can you easily adopt best practices such as: 

• Regional utilization and cluster replication i.e., keeping stock near your customers to ensure lower shipping costs, quicker delivery, and higher organic rankings
• Providing offers and promotions for select products in the catalog 
• Launching products that perform well on your website, even if they come from a smaller range 
• Providing heavy discounts and becoming the loss leader to gain positive reviews and ratings 
• Building strong warehouse ops to scale your business – hygiene of dispatch timelines, SLAs, etc. 
• Studying marketing data to gather insights and make timely, smart, and informed decisions 

If you’re looking for D2C sales support, be it analytics, platform management, marketing, technology, or digital transformation, Tenovia can transform your business. Get in touch with us today!

According to a report by Statista, Amazon attracts upwards of two billion monthly visitors as of 2022, making it prime property for advertising your products. Despite your best efforts to use Amazon’s ad products, you may not always see results in terms of ROI for two main reasons. 

First, it is important to know that Amazon has increased the number of products and ad placements across the marketplace, which can seem quite overwhelming to consumers who are inundated with ads all the time. Secondly, not all of your customers may be searching for you on Amazon in the first place. To solve both these issues, you can leverage the offerings of Amazon’s Demand Side Platform (DSP). 

Enter Amazon Demand Side Platform (DSP)

It is designed to identify, target, and engage potential off-Amazon consumers and guide them towards Amazon – a boon for small sellers on the marketplace. These ads are offered in various forms such as mobile banner ads, image and text ads, mobile interstitial ads, in-stream videos ads, desktop display ads, etc.  

The great thing about Amazon DSP is that any vendor or third-party seller can use this platform to generate brand awareness and target the right consumers. While the self-managed option has no management fees and allows for flexible campaign investments, the managed component can be a bit pricey.    

Wait, wasn’t it called something else earlier? 

Yes, it can get a bit confusing keeping track of Amazon’s various advertising platforms and their acronyms. In 2018, Amazon Marketing Services (AMS) allowed small vendors and sellers to advertise on the platform whereas Amazon Media Group (AMG) was dedicated to large-scale vendors both on and off the platform. There was also the Amazon Advertising Platform (AAP), dedicated to its demand-side platform that targeted audiences both on and off Amazon. 

In 2018, these platforms were consolidated and rebranded under one Amazon Advertising (AA) platform and turned AAP into DSP. Here are five factors that make Amazon DSP different from Amazon’s Sponsored Display Ads. 

• Shopper data: Amazon has a deep reservoir of first-party shopper data, be it on or off the marketplace. And this is available only to Amazon, which means sellers using DSP can leverage the insights offered by Amazon. 

• Shopper targeting: While Sponsored Display Ads target shoppers within Amazon, DSP can target shoppers externally too. These ads are run on the Amazon marketplace, Fire TV, Kindle, IMDb, Freedive (IMDb’s streaming platform), apps, publishing partners, and third-party exchanges.

• Pricing model: Unlike Amazon Sponsored Display Ads that follow the pay-per-click model, DSP uses a cost per thousand or cost per mille (CPM) model. This means that you pay for each time an individual sees your ad, whether or not they interact with it. 

• Relevance: It’s safe to say that anyone actively searching for a product on Amazon already has the intent to purchase. This is what the Amazon Ad Console usually targets. However, Amazon Demand Side Platform targets relevant users outside of Amazon to create brand awareness, and then retarget them to drive purchase interest. 

• Behavioral targeting: Usually, Amazon Sponsored Display Ads function on keyword search, which means that your product will be shown when a user types in related keywords. DSP on the other hand targets behavior. What does this mean? Your ad will be displayed based on what they’ve bought before, the detail pages they frequent, the categories they commonly browse, the specific products they have added to cart but not purchased, among many other behavioral patterns.   

While each channel has its advantages, sellers using Amazon Ad Console in tandem with Amazon DSP are able to enjoy the full funnel – right from the stage when consumers have no awareness of your brand to the point they choose to purchase from you. 

What are the benefits of Amazon DSP? 

When used right, DSP can be pivotal in increasing brand awareness and exposure, boosting sales, and acquiring new customers. Some of Amazon DSP’s features include: 

• Advanced targeting features such as demographics, geographic locations, segmentation, as well as date and time scheduling 
• Additional targeting through A/B testing, mobile and desktop specific ads, in-market audiences, ad placement and frequency, domains, and PIN codes
• Target customization through unique, user-built audience groups   
• Flexible and dynamic campaign targeting 
• ASIN retargeting capabilities such as cross-selling, customer re-engagement, customer education, reminders for repurchase, etc.  

Interested in learning how Amazon Demand Side Platform can transform your advertising strategy? Reach out to the experts at Tenovia today!

Counted among the top 10 economies in the world and slowly inching towards becoming the most populous, India shows immense potential for social media adoption. A Statista report claims that by 2025, India will be home to almost one billion social media users. 

It’s not just casual users. According to the Internet and Mobile Association of India (IAMAI), over 346 million Indians are actively engaging in online transactions such as digital payments and eCommerce. To put it into perspective, this number is higher than the entire population of the United States. Soon, India’s web user base will become the third largest in the world – closely following the United States and China. 

How did this rapid digital revolution come about? 

The answer is a combination of a few catalysts. With the introduction of affordable, high-speed internet about a decade ago, people in every corner of the country have been able to browse the web for entertainment and shopping. This has helped sellers and buyers alike. In addition to that, the increasing number of players in the affordable smartphone market has further pushed the pace of adoption. By 2040, it is estimated that India will be home to over 1.5 billion smartphone users.  

As people become more accustomed to the connected way of life – be it for shopping or entertainment, news or socializing – new patterns emerge. Digital buyers command a unique form of marketing, engagement, and collaboration procedure. 

Naturally, it’s smart to take advantage of the social media wave. Many businesses already are. It is estimated that even the top businesses are allocating 15% – 20% of their total marketing spends for social media marketing alone. Through social media, brands can gain access to large pools of consumers and deploy targeted messaging based on relevant interests. What remains the same is the dislike for interruptions, especially by advertisements. This is where analytics comes in.

Here are five reasons social media analytics can be good news for you.

1. Boost customer acquisitions 

Social media analytics can help you map your customer’s journey in detail. Given that your customers are the backbone of your organization, this is a necessary step. By closely planning and managing their journey – from awareness to purchase – you can engage with them consistently and encourage brand loyalty. 

2. Optimize product launches

With the help of analytics, you can identify emerging trends and get in on them early. It also allows you to discover market opportunities that were previously unknown and minimize risks.

3. Protect your brand’s health 

Want to know what’s good for your brand’s health? A happy customer. Every single interaction and touchpoint you have with your consumer contributes to your overall brand experience. That’s why brands are working hard to gain positive consumer sentiment. After all, brand perception – often in the hands of the consumers – is one of the biggest factors that contribute to your bottom line. With social media analytics, you can predict and pre-plan your touchpoints, even if it’s just a direct message.

4. Enhance campaign performance 

Analytics teaches you everything you need to know about your audience – from their likes and dislikes to habits and patterns, and more. With the right insights, you can craft more relevant and effective campaigns. What’s more, real-time social media analytics also teach you what’s not working and allow you to adjust your campaign at any time.  

5. Reduce customer care expenses

Customer care is very different today. They are no longer limited by time or medium. When there’s an issue, today’s consumers don’t hesitate to call out brands, expecting answers and quick resolutions. What’s more, it’s no secret that brands have considerable data on their consumers, so it is only wise to leverage this data to build stronger relationships. With analytics, you can consistently monitor what your consumer needs and bring in opportunities to address these needs and issues.  

Make way for Tensight – your social media analytics partner

Oftentimes, there is a gap in understanding how a successful social media campaign affects online sales. While there are a few ways you can get this data, you may not always get actionable insights, for example, associating a specific influencer campaign with your sales. What you need is a simplified tool. 

With Tensight, you can bridge this gap by getting centralized metrics from various data sources that help you better visualize the impact of your campaign on cross-functional departments. On our unified marketing platform, you can view the performance metrics of your campaigns across various marketplaces and social media platforms, measure your brand’s share of voice, and quantify just how impactful your campaign has been. 

More importantly, you can track your competitors’ campaigns, prices, and offers on a daily basis. You can also see new product launches and receive near real-time inputs on your own. Tensight allows you to collate all key metrics from your own site and track the results of your paid campaigns. 

If you want to take your business to the next level, reach out to the experts at Tenovia today!

Previously called Flipkart Advantage, Flipkart Fulfilment is an additional third party warehousing and shipping service offered by the ecommerce giant. Instead of handling their own inventory, warehouse, and shipping, sellers can bulk ship their product range to any Flipkart Fulfilment Centre (FC) – their operated warehouse – and store it there. 

When orders come in, Flipkart’s warehouses send these items to the buyers, taking care of everything from product picking, packaging, and shipping. What’s more, Flipkart also manages all product returns – be they from courier companies or customers. 

What are its benefits? 

Managing your own supply chain can be expensive – both in terms of time and money. With Flipkart Fulfilment, you can leverage their state-of-the-art fulfilment centres and established processes at nominal costs, making much higher returns with minimal investments. In addition to a dedicated space in their fulfilment centres, you can also outsource your quality check and packaging to Flipkart and ensure faster deliveries of your products. 

There’s one more substantial benefit to Flipkart Fulfilment – the ‘Assured’ badge. Getting this badge for your products can mean more visibility and credibility, as well as better search rankings on the marketplace. 

Who should consider Flipkart Fulfilment? 

Flipkart Fulfilment is an ideal choice for businesses that:

• Don’t have a dedicated warehouse at all, or in a metropolitan hub 
• Have warehouses geared only for large-scale B2B shipments and not day-to-day B2C shipment 
• Find it challenging to retain warehouse teams 
• Struggle to achieve quick shipping turnaround time, usually 1-2 days

How does a business register for it?

It’s important to note that Flipkart Fulfilment is offered by invitation only. So how does the company decide which sellers get to use Flipkart Fulfilment? By reviewing your performance metrics on a consistent and proactive basis. But to be in the running for this service, you should also register yourself for Flipkart Fulfilment with the following steps: 

1. If you haven’t registered as a seller, start by doing that 
2. Next, express your interest in Flipkart Fulfilment by signing up for it on the ‘Flipkart Seller Portal’, choosing ‘Manage Profile’, and clicking on ‘Flipkart Fulfilment’ 
3. When you’re approved, you can now register for the service  by choosing Flipkart’s Fulfilment Centre as the principal or additional space to conduct your business 
4. Within your account, you can then create a consignment for the products you want to ship to their Fulfilment Centre. Once done, you can then ship your products to the designated FC  
5. Once Flipkart receives your consignment, your products will be put through the necessary quality checks 
6. If your consignment passes the quality check, it will then be moved ‘inward’ – which means Flipkart will store your products in their FC 
7. As and when orders arrive, Flipkart will pick, pack, and deliver your products to buyers 
8. The payment for all your orders will be settled in sync with the regular payment cycle   

What happens next – addressing a few FAQs

1. How do I ship my products to a Flipkart FC?

Start by logging into your seller panel on Flipkart. Next, follow the step-by-step process provided to create a new consignment. The process is simple and user-friendly.  

2. How soon will my products become live on Flipkart?

Once your consignment has been delivered to the FC, they go through a quality check process after which they are inwarded and stocked in their warehouse. When this process is complete, your products will be live on the marketplace. If everything goes right, this entire process takes about seven days.

3. How can I view my inventory in the Flipkart FC? 

Your inventory will be displayed in the seller panel, under the inventory section. Please note that only the products with the ‘Assured’ badge will be visible under the FC. 

4. How can I recall my products from the FC?

If some of your products have been classified as not saleable, you can recall them from Flipkart’s warehouse by following a few simple steps. Head to your seller panel and choose the following options in this order: ‘Inventory’, ‘All Inventory’, ‘Bulk Recall’, ‘Download Bulk Recall File’. Once you’ve reached this step, you can fill up the file and select ‘Upload Bulk Recall File’.  

Make the best of Flipkart Fulfilment with Tenovia

Flipkart Fulfilment is one of many ways you can up your ecommerce game. If you want to take your business to the next level and maximize your profits, but aren’t sure where to begin, we can help you. At Tenovia, we offer end-to-end ecommerce management solutions – including analytics, marketing, digital transformation, marketplace support, platform-specific solutions, and more to keep you ahead of your competition. That’s not all, we also have an advanced in-house product that gives you actionable insights to benefit your bottom line. 

Reach out to the ecommerce experts at Tenovia to learn how you can push your chances of success.

Until recently, mainstream media was run by a few major players. Be it entertainment or news, most of us read, watched, and heard content from a few companies. And if an individual wanted to start a conversation or contribute to one, they had to do so as a part of these companies. 

With the advent on the Internet however, all this has changed. Media has now become decentralized and democratized, allowing anyone with an internet connection to make their voice heard. What’s more, the content created by ordinary individuals is being consumed at an accelerating pace. Moving on from traditional TV, cinema, radio, and newspapers, social media apps such as YouTube and Tiktok are giving millions, if not billions, the platform to create and share content. This is now being called the creator economy. 

What is a creator economy? 

Defined simply, a creator economy is an Internet-driven economy that includes millions of people who create content and use tools and software to grow their audience and make profits. This group of creators include bloggers, artists, social media influencers, videographers, etc. In such an economy, creators earn from their audience directly. In between creators (entrepreneurs) and audiences (consumers), lies the opportunity for companies and advertisers who market to and through these creators.

As opposed to traditional media which had pre-determined and oftentimes rigid content and programming, the creator economy creates space for all kinds of niche content that interests social media users – be it through short-form audio and video content, podcasts, social commerce, and live streams. So today, instead of watching the same few channels and content on traditional media, we now have millions of unique content themes catering to audiences with niche interests. 

How social media role plays a vital role

While the creator economy was around in its nascent form with the invention of the Internet, it has become the juggernaut it is today due to social media. Forbes reports that globally, there are over 50 million creators across social media platforms such as Instagram, YouTube, TikTok, and Twitch. Another factor that catapulted the popularity of the creator economy is the COVID-19 pandemic, during which many people staying home found new ways to put out content and create new streams of income. 

According to Statista, India is home to over 900 million active internet users. By 2025, 67.4% of Indians will be on one or more social media platforms. While television still takes the lion’s share of consumption across the country, use of social media through smartphones and laptops/PCs are increasing markedly. The average social media user in India spends almost 2 hours every day on various social media platforms. Needless to say, the potential for businesses to take advantage of the growing creator economy is huge.

Leverage the creator economy to your advantage

When it comes to social media, viewers prefer to consume content from ‘people’, not ‘brands’. That’s why very few brands have managed to find success on social media platforms. But you can always tap into the creator economy with social campaigns and influencer marketing. Content creators can be effective liaisons between brands and customers because they:

• Keep their fans engaged with regular interactions and targeted content 
• Create more compelling advertising by customize your brand’s message to their niche   
• Offer higher conversions due to their established relationship and trust with followers 
• Effectively target millennials and Gen Z customers, who are more likely to engage 

Content creators are also more effective in advertising a brand as they are a departure from the traditional push marketing strategies. Today, consumers prefer to engage with a brand and associate on a personal level before they make a purchase. As a brand, you can effectively monetize niche content from these creators and influencers through various mediums such as: 

1. Product placement – whether through subtle plug-ins within the content or shown as a lifestyle choice of the influencer 
2. Sponsored content – an effective way to improve your brand awareness across channels  
3. Merchandise – co-branded merchandise designed with the creator can help them monetize their following further and boost sales for you 
4. Live and virtual meets – live events at physical stores in collaboration with content creators can boost brand awareness and sales at turbo speed 
5. NFTs – creating exclusive paid experiences with co-branded NFTs can grab the attention of tech-savvy audiences, especially if your category is compatible with the space  

Get started today!

If you’re yet to explore the world of content-driven marketing or simply want to fine-tune your efforts, we can help you. With Tenovia, you can leverage the power of social media in the creator economy – gleaming invaluable insights from audience measurement and forecasting, re-engagement strategies, ad creation services, and data-driven reporting.

Ready to tap into the creator economy? Reach out to the experts at Tenovia and we will take your social media game to the next level!

What if we told you that there was a tiny little box on Amazon that influenced 83% of all sales on the biggest online marketplace in the world? It may not look like much at first, but the Buy Box can put your business miles ahead of your competition.

What is the Buy Box hype all about?

The Buy Box is the section on the right side of any product page on Amazon, which allows customers to add items to their cart by clicking on the ‘Add to Cart’ or ‘Buy Now’ buttons. 

But why does it matter so much, you ask? Think about how the average Amazon customer approaches online shopping. When searching for a product, they most likely use generic terms without specifying a brand. They’re also not going to spend too much time scrolling on the product page to find purchasing options. What’s more, they rarely have the option to choose the seller from whom they wish to buy goods. 

So who decides which sellers are featured prominently? Amazon does. Using its algorithm, it displays the best offer for a specific product for that particular shopper, on that day. If you’re in a competitive category, you will realize just how valuable the Buy Box can be for your business – both in terms of visibility and sales.   

So, how does it work? Can you just get a Buy Box? 

The cut-throat competition for the Buy Box and Amazon’s customer-centric approach means that not every seller is eligible to win it. Sellers are constantly trying to win the Buy Box by offering better prices, customer service, discounts and deals, or through other incentives. But it’s never so simple. Amazon only chooses businesses based on select metrics and prioritizes those with the highest chances of success. 

It’s important to note that the Buy Box algorithm works round-the-clock. This means that Amazon is always tracking and assessing your performance, and your competitors’. So, by understanding its algorithm and optimizing your seller metrics accordingly, you can boost your chances of winning the Buy Box. 

Metrics that determine your chances of winning 

In addition to the score based on the algorithm, Amazon also grades you on a few metrics. Here are some of the most important factors you should consider if you’re bidding for the Buy Box. 

• Seller status: Only ‘Professional Sellers’ are eligible for the Buy Box, for which they pay an additional monthly fee on top of existing seller fees  
• Performance metrics: The frequency of cancellations, refunds, late shipments, and other essential metrics also determine your chances of winning the Buy Box 
• Customer feedback: Positive reviews play a big role in landing you the Buy Box as Amazon studies feedback from your customers from various durations (30/90/365 days)
• Pricing: The Buy Box considers many sellers of each product to determine which one offers the most competitive pricing, inclusive of taxes, shipping, and handling fees  
• Product condition: The Amazon Buy Box is not eligible for used products; only new products that reach the shoppers untouched and undamaged are considered 
• Product or order defects: Amazon evaluates your short-term and long-term order defect rates (ODR) and prioritizes sellers with <1% ODR
• Fulfillment options: Amazon tends to prioritize ‘Fulfillment by Amazon (FBA)’ when deciding your score, so if you’re not using this service it’s time to reconsider 
• Inventory: If your product frequently sells out, your chances of winning the Buy Box are lowered, so prioritize inventory management 
• In-stock consistency: Inventory management is also vital to ensure consistency in your inventory stock-keeping 
• Shipping time: To ensure quick and reliable shipping to its customers, Amazon’s Buy Box algorithm compares your promised shipping time vs. actual shipping time 

One more thing – the Buy Box functions as a rotational model 

Just because you won the Buy Box once, it doesn’t guarantee you the spot again. The algorithm chooses eligible sellers in rotation and switches from one deciding factor to another – be it performance metrics, pricing, customer feedback, or any other. The Buy Box is shared proportionate to the number of contenders for a product. So how well you compete with your rivals determines how often you win the Buy Box. In some cases, the Buy Box can be shared by multiple sellers in a 24-hour window.  

Boost your Buy Box wins with Tenovia’s analytics 

If you’ve been attempting to win the Buy Box without much success, you might need a push with analytics. Through our analytical dashboard, we can determine your Buy Box percentage, study your competitors, and deliver insights on how you can improve your performance metrics. What’s more, our analytical support also extends to accurate forecasting to minimize inventory inefficiencies as well as operational expenses – ultimately increasing your profit margins and sales. Here’s how we helped one of our clients transform their online storefront and win the Buy Box many times over.

Want to get in on the Buy Box action? Get in touch with us and we’ll make it happen!

Pandemic or no pandemic, the popularity of ecommerce platforms such as Amazon and Flipkart has become so widespread, it has permeated all corners and regions of the country. In fact, for many Indian consumers today, these online marketplaces have become their go-to destination for retail. And as they get more comfortable with the process, they expect more. 

Streamlined and personalized customer experiences are the norm today. Needless to say, this rapid adoption of ecommerce means that your business should work even harder to beat the competition and capture more market share. Perhaps one of the most important steps you should take now is revisit and refresh your online marketplace management strategies.  

To the layman, an ecommerce marketplace looks like a neatly arranged virtual storefront with an endless array of products, but the reality is very different. For a marketplace to provide outstanding user experience, you have to understand and utilize the unimaginably intricate network of elements and algorithms it is built on. This endeavor becomes all the more complicated if you’re taking on omnichannel marketplace management, which is the more probable case for your business. 

That’s why we’ve put together a few strategies and management practices to help you make the best of these ecommerce platforms and push your business to the next level. But first, let’s explore some common challenges in marketplace management that you may have faced. 

Challenges

• Customizing online marketplace listing and rankings

Different marketplaces have unique ways to categorize, organize, and rank products. So it is vital that you tweak your content based on where you’re selling and not limit yourself to a hyper focused understanding of a marketplace. What works on Amazon may not work on Flipkart or another platform.

• Inefficient and redundant activities

A common challenge businesses listed on multiple marketplaces face is the tedious job of keying in and editing product information over and over again. If you sell multiple products across multiple platforms, this job is not only tedious and time consuming, but also increases chances of human error and burnout.           

• Inventory mismanagement

It’s quite difficult to have a perfect grasp over inventory. Many businesses are prone to overstocking, overselling, incorrect demand forecasting, and a host of other inefficiencies. And when there are multiple channels involved, this problem can become inflated.   

• Updates or changes in algorithms 

To improve customer experience, marketplaces are always updating their algorithms as well as listing requirements. If you’re not equipped with a scalable, efficient solution to make necessary changes to your online marketplace listings, it could affect your bottom line from time to time.    

Opportunities for change

• Standardize your listings and SKUs

Defining a specific format for your SKU codes and product listings will make it easier for your team to track, use, and reference when managing inventory. Make sure to include essential details such as style, size, color, ingredients, or any other attributes that your customers are most likely to care about. While you’re at it, you should also consider standardizing product titles, descriptions, and other necessary details in your online marketplace listing. 

• Invest in inventory management software 

If your inventory isn’t managed efficiently, you could lose out on many sales – be it because of unavailability, long delivery times, supply chain issues, etc. To avoid these issues, it’s smart to equip your business with an efficient software that can keep track of all your products, update you when you’re running low or when your products are reaching their expiry date, and optimize inventory restocking by detecting purchase patterns, identifying top-selling products.

• Centralize your product catalog 

It’s easier to manage your listings if all your product data is centralized to a single location. This is especially useful if you’re listed on multiple marketplaces. In addition to serving as a point of reference for your team, it will also minimize other inefficiencies such as logging into marketplaces individually or updating information. Centralizing your catalog will also help you manage inventory, analytics and reporting, and other essential functions from the same place.   

• Get expert marketplace management services 

As a busy business owner and growing team, you may not always have the time to analyze your business decisions and study the data holistically. In such cases, it may be wise to partner with an expert, like Tenovia. Our marketplace management team will help you prioritize actions based on data analytics and show you how you can create the right organizational structure within your ecommerce vertical, what processes you need to maximize operational efficiency, and how you can optimize inventory, pricing, and other sales strategies.  
Ready to take your online marketplace management game to the next level? Get in touch with us and we’ll show you how our end-to-end marketplace management services will help you achieve your goals on India’s biggest marketplaces!