eCommerce

WHATSAPP & ECOMMERCE – A duo to watch out for

There’s hardly anyone who hasn’t used WhatsApp. With a massive userbase of over 400 million active users, India is one of the biggest markets for the Facebook-owned business messaging app.  The eCommerce industry has been quick to evolve with technological advancements and WhatsApp has seen this as an opportunity to jump on to the eCommerce bandwagon. 

Companies have started actively incorporating WhatsApp into their eCommerce strategy. WhatsApp Business has become the go-to messaging channel for customer care.

Small businesses have started using the catalog feature to share information like product photos, addresses, map locations, etc. Whenever a customer enquires about a product, a catalog can be shared to help view products and get information for a particular item. 

A Nielsen report on FMCG consumption during COVID-19 has mentioned that consumers have started using WhatsApp to place orders due to the social distancing norms.

According to sources, WhatsApp Business will experience unprecedented growth of more than 5,400% among medium and large businesses looking to use its API. The findings are based on research involving all the major omnichannel messaging providers.

Mobilesquared believes 5.25 million small and micro businesses were using the free WhatsApp Business app at the end of 2019, and it expects this number to rise to almost 7 million by 2024.

  • Enhance customer service & support 
  • Take advantage of broadcasting & alerts 
  • Ease of delivery & communication
  • Distribute content 
  • Brand authenticity 

As the pricing of mobile data stays low, and smartphones become affordable, penetration of WhatsApp would boost in the coming time and make it the most convenient platform for consumers to interact directly with brands.

5 e-Commerce mistakes to avoid while selling online

5 e-Commerce mistakes to avoid while selling online

E-commerce retail is one of the most profitable industry spaces to be in. But because to err is completely human, many retailers end up making mistakes, big or small and that can leave a bad taste in their mouth about the e-commerce business.

Here are the top five mistakes most people make:

Choosing the wrong platform

Investing in a wrong platform could also result in loss of revenue, conversion, traffic, unfriendly user interface, or even security issues. Thus using more time, money, and efforts in fixing the mistake. It is important to choose a platform that will allow you to integrate your current systems, gives you complete control on your store operations, and lets you customize your store the way you want.

Choosing the wrong audience

A great-looking shop and a smart business strategy are only worthwhile when you have the right customers to sell to. Most often than now, retailers cannot clearly define their target audience or don’t spend enough time to determine the micro factors that drive their behavior. And that is a mistake. Even before you make a sales plan you need to know if your audience really needs your product and if they do if your product is really solving their problem. Accordingly, you can use the messaging they understand.

Not building an SEO friendly site

Content is king and your site must obey it. While most retailers give it a second priority, well-written, SEO-friendly content is what actually drives traffic to your site and increases your search engine rankings, among many other things. Every page and product description on your site should be optimized for search engines.

Complex navigation and user journey

A visually appealing website with an undefined user journey is as good as no website. From a holistic and well cut out user experience to an efficient checkout process, online customers need a smooth-sailing shopping experience.

Not building a scalable website

While many make the mistake of not thinking long-term for their e-commerce store, it is essential to be future ready. Keep provisions for new features, more products, at time of expansion in the future.

If you can avoid these key mistakes, so you can have a long-running, successful online store.

Trends-that-will-shape-Indian-eCommerce-in-2019

Trends that will shape Indian eCommerce in 2019

A lot has changed in the Indian eCommerce landscape in the last few years. As we move into another year towards the future, we see constantly changing eCommerce trends and take a new shape to cater to the more evolved audience.

What to look out for in eCommerce Trends 2019

Voice-activated searches

With easy voice searches enabled by AIs like Alexa, Siri, or Google, search engines like Google has made radical changes to its search result algorithms. This basically means that search will be more specific and yield specific results. This means the product discovery journey for users will also change and eCommerce brands will focus on such shifting trends in defining their search marketing strategy.

Vernacular aided experience

While India’s literacy rate is nearly 75%, those literate in basic English language is only 10% (125 million approximately). However, on the other hand, internet users in the country add up to nearly 481 million. Thus to fill the gap of linguistic preferences to internet usage, many eCommerce brands have already introduced regional language sites and this will continue to grow this year with more language options and more retailers trying to expand their audience base.

More omnichannel presence

While multi-channel has been the trend of 2018, omnichannel marketing will find its presence in eCommerce trends of this year, which will blur the lines between offline and online commerce. Brands will be mapping their user journey across channels and finally transition from multi-channel and detached presence to an integrated, omnichannel presence.

Refined product search

While social search has already been adopted by brands, it will only become more common and pervasive. This will also reduce the number of searches (for eCommerce products) on search engines and brands will most likely spend more advertising dollars on social marketing and other marketplaces.

Augmented Reality and Virtual Reality

Another interesting and rising trend in the retail business worth paying attention to is the integration of Virtual Reality in user experience. This year this is most likely to get leveraged further. By 2020, experts expect retailers to invest in Augmented Reality as well.

Ecommerce frauds

E-commerce Frauds: Risks, measures, and online implications

Online fraud is one of the biggest risk faced by eCommerce enterprises with global retail frauds rising to 30% by 2017. eCommerce fraud typically refers to any illegal or false transactions that take place across online stores. Hackers usually source card information of random users and use the data to make fraudulent transactions or share the data with other hackers

Assessing risks and measures of losses

As an online retailer, here are few ways to assess if there is a fraudulent transaction has taken/is taking place on your web store.

  • The order value and size is bigger than your store average
  • There is a request for fast shipping.
  • The delivery address is a little unusual.
  • The shipping and the billing addresses are not the same.
  • There are several cards used on the IP address
  • The user has multiple shipping addresses.
  • There are large quantities of the same product or multiple transactions in a short span of time.

The total cost of fraud can be measured as Direct Losses to fraud + Lost sales + Cost of manual review + Cost of technology (tools used to detect and solve).

Implications of frauds

No matter what causes the fraud, the implications are usually borne by the retailer.

  • Most frauds end up in a ‘chargeback’ to the retailer. Since the hacked card details might belong to a customer, the retailer must return the same amount to the cardholder once a fraudulent transaction takes place.
  • Chargebacks usually come with processing fees, transaction fees, legal fees, or currency conversions, if any, surmounting to a huge sum for the retailer. Along with chargebacks and refunds, retailers also need to measure the overall impact of frauds on their store.
  • Sometimes, if there are too many fraudulent transactions occur, leading to a large amount of chargebacks, the retailer is usually considered to be a high-risk merchant.
  • Furthermore, the product/s fraudulently sold is a product lost, since there is no ‘return’ of the physical product.

To prevent such scenarios from occurring on your store, always have clear shipping, refund, and return policies and address any unusual activity right when they occur. For smarter store management, resort to a trusted and reliable eCommerce development company like Magento and enjoy a safer retail business.

Top 5 eCommerce trends to look forward in 2019

From mobile-first practice to integration of augmented reality on the platforms, eCommerce future trends are promising a new and improved online experience for every customer. Here are some of the practices that every retailer and marketer is eyeing to implement in the coming year and change the face of the eCommerce landscape of future.

eCommerce trends 2019
AR (Augmented Reality) & VR (Virtual Reality)
Major brands in the fashion and interior space (like Sephora, IKEA etc.) have already started using AR to create a realistic experience of their products. But as the usage of VR become widespread and retail giant Amazon taking the lead in AR-based apps, most retailers will follow suit and start integrating this trend in their customers’ shopping experiences.

Mobile-first experience
The mobile app industry could cross $189 billion by 2020 and all retailers are vying for their piece of pie in this growth. While search engines already require websites to be mobile-friendly, the practice will be more common with an increased number of smartphone users, where frameworks like Accelerated Mobile Pages (AMP), will enable retailers to create fast-loading websites for mobile devices.

Videos on landing pages
Videos will very soon replace static content and comprise 80% of web traffic by 2019. However, besides using videos for brand films, educational content, testimonials, products, and FAQs, retailers will also look at increasing traffic by using a high-quality video in the hero carousel on the homepage or landing page of the brand site.

Digitizing Real World Experiences
The future of eCommerce 2020 will be all about creating a ‘phygital’ world. By extending the in-store shopping experience to the online platform through technologies like ‘scan and go’ retailers can reduce checkout processes and let their customers enjoy the benefits of both services.

Voice Commerce
The voice-enabled search will make for 50% of total online searches by 2020. Such a game-changing trend will influence Search Engine Optimization for businesses where retailers would redesign their site search algorithms and set the path for voice commerce.

Such trends are sure to help you with ideas that can grow your eCommerce business and see a promising future.

The 7 unspoken laws of ecommerce success

The landscape of ecommerce in India is growing leaps and bounds with every retailer vying for their unique space in the industry. While online marketplaces are getting their fair share of success, ecommerce a lot of potential for new businesses. Unlike marketplaces, retailers have a lot more freedom to integrate innovative ways of boosting their business and join the bandwagon of rising ecommerce trends. Besides the mainstream technical knowledge and market insights, there a few tips that can help retailers and marketers to succeed in the ecommerce space.

Treat your ecommerce business as a thriving offline business
Except for the tangibility of your store, there’s not much difference between the efforts and time that you need to invest in a brick-n-mortar store and your ecommerce business.

Find the right software for your business
While it is important to make your ecommerce website really stand out, you need the most appropriate platform to build it on. Look at software that supports your creative idea and is sustainable.

Be where your customers are
The old trick of the trade calls for tapping right into the needs of your audience and fulfilling it. To do the same you need to be visible in places where your customers are.

Build Buyer Trust
Empower your customers through personalized communication and allow them to share their experiences with your product/service through reviews, feedback featured blogs etc. This not only builds trust with them but also makes them your brand ambassadors.

Keep the checkout process easy
Majority of conversions drop at the checkout point. Integrating a popular payment method and minimizing the page loading time can help reduce friction at the point of sale.

Offer Excellent Online Support
Think beyond calls and emails and consider live chat support on your site, across the user journey to enhance your customer support strategy.

Partner with other brands
Even if they are small local brands, partnering with complementary businesses add value to your brand and enhances your reputation among your audience.
There is no ideal model for a successful ecommerce business. With innovative business ideas, trial and error, and steady growth, your business can see the future of ecommerce, provided you are ready to take the leap of faith.

Why your site needs an eCommerce audit

Why your site needs an eCommerce audit?

If there’s one common goal for all e-commerce sites, its conversions. With the online marketplace dominated by retail giants, it becomes essential for e-commerce sites to stand out among the clutter and get their share of the pie. Hence an e-commerce audit, to help you understand where you stand among the crowd. It not only helps you boost your organic traffic and drive quality visitors but also spike up your conversion rate.

Reasons for considering an e-commerce audit:

Stay ahead on Search Engine Results Page (SERP)

Once you run a review of your content marketing strategy, you will know where you need to improve upon- whether it’s the content or the SEO strategy that needs revising. And if you are striving for that first page of search results, then your site needs to be well-optimized to start with.

Better On-page SEO

An audit of your e-commerce site will relook at the Meta Tags, keyword frequency, HTML headers etc. to see if your target keywords are at the right places on your site. This will increase your searchability to your users and search engines.

Check for mobile optimization

Needless to say, almost every user today uses their mobile phones for shopping. And that is why your e-commerce site needs to be user-friendly or optimized for a better experience of your customers. An audit can help you with ‘touchscreen readiness’, ‘mobile viewport’, UI/UX feasibility etc. so your audience gets the best experience on your website.

Enhanced site performance

This is probably one of the most important deal-breakers for e-commerce sites. Sites are evolving in their designs and integrating the best in class images, layouts, etc. But if these enhancements create a handicap for your users, by slowing it down, then you can lose as much up to 40% of your site visitors. User experience is essential for e-commerce success and site speed and its performance play make for an important element of it. When you run an audit, it can tell you which parts or pages lag in speed. It can also give you ways to elevate your site performance through techniques like compression, minification, image optimization and caching.

From content upgrade, keyword check, to restructuring product placement, and site analysis, an e-commerce audit is the key to a successful online retail business.

5 Reasons you should hire an expert to enhance your user

5 Reasons you should hire an expert to enhance your user’s shopping experience

The millennial shopper is always on the lookout for the best experience irrespective of what they shop for. That is why marketers and brand owners need to enhance the user experience and the customer journey while they browse through your site. And all this requires an expert, who can use his/her understanding and expertise to take your users’ shopping experience to a whole new level.

Here are our top 5 reasons to hire a user experience expert-

Help understand the human element

The best sales happen when you are in sync with your customer’s buying behavior. For that, you need to pay more attention to the user psychology. In other words, knowing what works for them, what they like, what improvements they are seeking, etc. This makes for a scientific study using consumer insights which can be best conducted by an expert qualified for the same.

Better customer relationship management (CRM)

User experience and CRM are not mutually exclusive. A customer complaint is usually seen from different perspectives, depending on where the fault was, which can lead to multiple inferences. An expert in such a case, can pinpoint the problems and help in problem-solving of consumer concerns. By assessing and analyzing their feedback, they can help in improvement of a product or the seller service, thus enhancing customer relations. CRM is one of the most important aspects that helps a business grow. And using expert knowledge to resolve their issues can ensure long-term relations with your users.

Contributing to Innovation

With a more scientific approach to consumer behavior, user experience experts can provide better insights into R&D and assess if a new concept or a strategy will work or not. And that too without exhaustive experimentation.

Keeping up with market changes

People change and so their habits. Surveys and focus groups stick to demographics and are not enough to assess the psychological reasoning behind such changes. Experts in user experience go beyond the theory and apply a deeper understanding of human nature which helps in better brand outreach.

Better marketability forecasting

Before a product is launched in the market, user experience experts can analyze if it will work with the brand users or not, thus providing the right marketability forecasting. By availing such expert knowledge prior to launches, brands can save the time and money on trials and errors

tricks-to-get-more-sales-via-Amazon-ads

5 tricks to get more sales via Amazon ads

As of today, it is nearly impossible for a retailer to imagine sales without being present on Amazon. With more than 50% of all retail product searches starting with this global marketplace, brands need to have an effective advertising strategy and make the most of their ads on Amazon. So how do you ensure more sales using your Amazon advertising?

Here are 5 ways to effectively generate more conversions, beyond ‘Sponsored Products’:

Optimize targeting options

When it comes setting targeting options while creating your campaign, the key is to use one for the benefit of the other. Use manual targeting to keep control over your campaigns but run a test with automatic targeting. You can create a keyword campaign using the manual version, like you would do for any search engine and then combine it with an automatic targeting campaign. By setting lower bids, you can use the latter as ‘keyword research’. Then if and when the search terms starts performing well, you can use that keyword in your manual campaigns.

Leverage Amazon Keyword Tool

Just like a search engine campaign, it is important to identify the right set of keywords for your Amazon advertising. Invest in extensive keyword research to get a better idea of how and what buyers are searching across the platform. Optimize your keyword bids based on their performance. This can make your campaign more efficient and opens up great chances of winning against your competitors.

Use the power of Feedback Five

Your customers are your best salespeople and their opinions have more impact on your sales. Leveraging the customer reviews using the Feedback Five tool, can put you on a 5-star rating and help boost sales. If you have abundant positive reviews, use it to showcase yourself. On the other hand, if you have customers with negative experiences, use for product enhancements or improve your marketing strategy.

Consider running discounts

Everybody loves a discount. And, from a marketing perspective promotions have always been a great way to increase traffic, visibility and yield reviews. Spread your discount strategy across ‘lightning deals’, price discounts, best deal, BOGO (buy one get one), hourly deals or even shipping discounts. Use these to leverage sales and highlight your products amidst the marketplace clutter.

10 KPIs to Measure eCommerce success + Free Resources

10 KPIs to Measure eCommerce success + Free Resources

Key Performance Indicators are a measurable value to denote how a business is meeting key business objectives. Businesses segregate their KPIs into High-level KPIs and Low-level KPIs based on the impact they have on their business goals. High-level KPIs focus on the overall performance of the organization whereas low-level KPIs focus on performance of their departments.

Why set KPIs

  • KPIs help drive business to greater heights
  • They ensure that everyone in the organization is working efficiently to fulfil business goals
  • KPIs help meet strategic and operational goals effectively

KPIs for eCommerce

There are a number of KPIs you can set, but we have curated a list of 10 KPIs that are absolutely essential to monitor to tweak your eCommerce performance

 1. Return on Investment (ROI): One of the most thrown-around Jargon in any industry, Return on Investment (ROI) is one of the most important metrics to monitor when it comes to eCommerce. Return on investment may be measured per each important channel or per total marketing spends.

  How to Calculate: Revenue/ Costs

  Tools: Google Analytics & Measurable

 2. Year over Year Growth (YOY): Scaling your business consistently over time is a mandate if you want to succeed instead of merely surviving the wave of eCommerce. Year over Year growth can be measured as a variation of revenue, conversion rate, average order, customer lifetime value.

  How to Calculate: (Metric) Last Year / (Metric)Current Year

  Tools: Google Analytics & Measurable

 3. Customer Lifetime Value (CLV): Customer lifetime value is a prediction of the net profit attributed to the entire future relationship with a customer. CLV is one of the most important metrics for measuring gross profit and success over time. Generating new customers has been proven to be the most expensive endeavor for almost all eCommerce businesses and so CLV becomes an important metric to watch out for.

 How to Calculate: Profit/Customer/Year x Average number of years

 Tools: Google Analytics & Measurable

 4. Average Order Value (AOL): Average order value (AOV) is yet another important metric for your ecommerce store. Average order value (AOV) tracks the average amount spent each time a customer places an order on your website or mobile app.

 How to Calculate: Average Revenue / Customer

 Tools: Google Analytics

 5. Conversion Rate (CR): Conversion Rate is a metric to measure the efficacy of your marketing and eComm efforts. A high conversion rate reflects the success of a business. Though the benchmark over industries vary, conversion rate remains an important metric in every industry including eCommerce.

 How to Calculate: Conversions / Visits

 Tools: Google Analytics

6. Customer Acquisition Cost (CAC): Customer Acquisition Cost is the cost associated with convincing a customer to buy your product/service. This cost is incurred by the organization to convince a potential customer via marketing efforts. This cost is inclusive of the product cost as well as the cost involved in research, marketing, and accessibility costs

 How to Calculate: Traffic Cost + Discounts + Incentives + Prizes

 Tools: Google Analytics & Measurable

7. Cart Abandonment Rate (CAR): Abandonment is an ecommerce term used to describe a visitor on a web page who leaves that page before completing the desired action. Examples of abandonment include shopping cart abandonment, referring to visitors who add items to their online shopping cart, but exit without completing the purchase.”

 How to Calculate: Conversions / Cart Visits

 Tools: Google Analytics

 8. Purchase Intention (PI): Purchase Intention can be broadly defined as the number of visitors on your webpage willing to make a purchase

 How to Calculate: % of visitors that want to buy

 Tools: Marketizator

9. Search Penetration Index: SPI can be defined as the number of visits you are getting on your site from all search volume like PPC and SEO efforts.

 How to Calculate: Number of visits / number of searches

 Tools: Google Analytics & Measurable

10. Customer Satisfaction Index: CSI can be determined with post-purchase surverys. Customer satisfaction plays an important role within your business. Not only is it the leading indicator to measure customer loyalty, identify unhappy customers, reduce churn and increase revenue; it is also a key point of differentiation that helps you to attract new customers in competitive business environments.

How to Calculate: Monthly Surveys

Tools: email and Marketizator surveys

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