All posts in "Business"

How Does Advertising Work On Amazon

a few months ago

Advertising on Amazon is a continually evolving process. You may have tried advertising for a few different items, but you’re not seeing the results you want. Now you’re looking for more information on how the system runs so you can use it to its fullest potential for your products.

 

Pay-Per-Click

Amazon is not the only platform to use Pay-Per-Click (PPC). However, it is the one which will have the most immediate benefits. Other PPC sites are useful, but they don’t help you quite as much in the beginning.

PPC is based on the idea of paying every time someone clicks your ad. This is different than impression-based advertising, where you pay for people to view the ad.

With Amazon advertising, you tell the algorithm how much you want to spend to show up for a keyword. The system then compares it to what everyone else is willing to pay and selects the highest bids.

Keywords

Keywords are what your customers type into the search bar when they decide to buy something. What your customers search for matches to the words in your ad or on your product page. From there it’s up to the customer whether they buy or not.

You have options for finding usable keywords. One of the best ways to get new keywords is to partially fill your own Amazon search box. The suggestion list that pops up are keywords people have searched before. While this takes a little time, it provides real insight into Amazon customers.

Another possibility for Amazon keywords is Amazon specific keyword tools. There are free and paid tools available. Fortunately, these tools typically offer relevant category searches. This refines the keywords you get to make sure they’re suitable for your product categories.

A third option involves using generic keyword websites. These generic keyword sites yield long lists. Not all the words will be relevant, but there will be a couple that you wouldn’t have had otherwise.

While you’re looking up keywords, keep lists. These should appear in your product pages for organic reach. The words will also be necessary while you set up your advertising.

Campaign Numbers

Every Amazon advertising campaign you set up will ask you for two critical numbers. These are your daily budget and default bid. These control how much money is spent on a given day. You’ll also need to know about the advertising cost of sale (ACoS), which turns up once you start campaigns.

The daily budget is the maximum you pay Amazon per day. Once your campaign hits this limit, your bids stop until the midnight reset. How far into the day your budget lasts depends on where you set your bid rate. Each keyword can have its own bid rate.

Advertising cost of sale is a figure you can use to determine your bid numbers. Roughly 1 in 10 people who click an ad actually buy something. Your bid price must reflect this, as well as your pricing. To find the ACoS, divide the amount of money spent on advertising by the number of product sales. You can then apply this number with your other costs to ensure you’re making a profit.

Automatic Targeting

Amazon advertising offers a solution if you do not want to spend a ton of time researching. With automatic targeting, the advertising algorithm looks at your product page. It then determines what keywords your product works for and will bid on those. The price for this ease is control though since the only numbers these campaigns take are default bid and daily budget.

Manual Targeting

Manual targeting allows you significantly more control. You’ll start with a daily budget and average bid figure, and then fine tune exactly what you would like to bid on. To start, you’ll need your lists of keywords and numbers.

Once you get through the initial setup of default bids and picking the product to advertise, you’ll be able to add your keywords. You can add them in groups, each with its own specific level. Broad will bid on anything containing the words. A phrase will bid on anything with the words in it in the same order. Exact means that word or phrase alone will be bid on.

The next consideration is the bid number for each individual keyword. The general advice is to bid lower on broad searches since more of those will be irrelevant. On the other hand, the bid on exact keywords may be a little higher, because you want to be in the top space for those keywords.

Once you have all your items set up, it’s time to let the campaign run. For manual campaigns, you’ll need to come back in at least once a week to tweak your bid numbers and keywords. This process is called optimization.

Summary

Advertising on Amazon needs research to succeed. You’ll need to put in the work up front to ensure you’re using the right keywords and budgets to make a profit. While the options may seem overwhelming, the system gives you precise feedback. Over time, you’ll master the ins and outs of Amazon advertising.

Lastly, if you want a tool that automates Amazon Sponsored Products best practices and allows you to manage your Campaigns in an unprecedented way, you can check zon.tools

Their Smart Engines are extremely flexible and can adapt to any Amazon Advertising strategy or goal.

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Keep These Ecommerce Mistakes At Bay For A Flawless Online Store

a few months ago

Today, the ecommerce world is full of opportunities. But you can’t avoid the risks it carries. Selling your products online opens up huge new markets for many businesses, a 24/7 open store helping you to reach a global market without the costs of mailings and call centers.

Running an ecommerce website or store is not as easy as throwing up some shopping cart software and pilling products into a database. Here, we list a few mistakes that you should avoid when creating your online store.

#1  Incomplete Product Information

Online stores lack the customer interaction provided at a brick and mortar store by the customer support associates. This requires attention as your customers are always eager to know every minute detail of your product.

Add as much product information as you can be it sizes, materials, dimensions to any other pertinent information on what the product is. Always use descriptive words rather than technical terms to help your customers understand your product easier.

#2  Small and Unclear Product Images

As online stores are not handled physically, being a store owner, you should always try to recreate and improve upon the consumer experience. Uploading small images or only one image of the product can cause trouble to the shoppers as they do not get a clear idea about the product.

To avoid such distractions, you should always upload good quality pictures with a zoom-in option to enable customers to view the image as large as possible.

#3  Complex Shopping Cart

Keeping a complex purchase cart can be big trouble for customers. It is crucial that you let shoppers add multiple products, whilst remaining transparent at the same time.

Also, it is cumbersome for a customer to create an account for buying items. Hence, keeping it short and simple is the best option to have customer engagement. You can also keep an option of the mini cart where the customer does not have to leave the page while adding items to their cart.

#4  Underpricing your products

In the bottleneck of competition for online store owners, you always want to achieve constant growth. Keeping the profits in mind, the sellers usually make a mistake by tagging products with low price. It may feel good for some advertisement, but in the long run, the customers might assume about the quality of the product.

Consumers may doubt the quality and may feel insecure about purchasing your items. You should always keep an eye on the price list by comparing it with the other sellers as well on the same product which can also help you keep gaining your profits.

#5  Lack of Market Research

Often it happens that an ecommerce store owner updates their portfolio without giving a second thought to what the customers want to buy or research any consumer purchasing details.

It is highly recommended to check or look after the customer purchasing behavior to identify the best products which are getting a higher response.

No individual can ever predict the future of ecommerce businesses, and so you have to use your shortcuts by researching the demand, knowing your customer, filling the market gap or keep a healthy marketing plan.

The industry is continually changing, and it becomes essential to keep yourself updates whether you are an ecommerce novice or a seasoned pro. Keep going forward with your ecommerce trends and enjoy the benefit for years to come.

About the author: Olivia Diaz is working in a Magento development company eTatvaSoft.com. Apart from her professional career, She is more inclined towards blogging and sharing her ideas on a lot of development topics like Magento, Angular and more.

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5 Reasons Why Your Ecommerce Company Needs Digital Feedback

a few months ago

According to Statista, global B2C ecommerce sales are set to hit well over $3.4 trillion this year; a projection which is driving many ecommerce companies to revamp their digital strategies in an effort to remain competitive.

One of the more popular ways of doing this is by adopting a data-informed decision-making strategy. In other words, leveraging the insights derived from data to improve and build upon a digital strategy. Many organizations achieve this by embracing digital tools and technologies that supply them with the data they need to move forward.

In ecommerce, one of the most critical factors for achieving success is a happy customer. In turn, many organizations in this industry put a heavy focus on the customer. This is where digital feedback comes into play. Digital feedback can help ecommerce organizations obtain both a holistic understanding of how to engage their customers, as well as valuable insights needed to meet their needs. But there’s a whole lot more to it than that…

In this article, we will examine 5 reasons why your ecommerce company needs digital feedback.

1. Online journeys are becoming more and more complex

Today’s customer journeys are – without a doubt – much longer and more complex than ever. In the past, online retailers were focused primarily on a simplified customer journey that brought their customers to a singular purchase point. Sounds fairly straightforward, right? Well, a lot has changed since then. Nowadays, they must monitor multiple touchpoints and purchase points at once. To do this effectively, it is important to have a strategy in place that helps these retailers find ways to maximize the value of each of these stages (or touchpoints) as well as build up meaningful relationships with their customers.

This is where digital feedback comes into play.

There are three stages (or parts of the funnel) in which you can collect and analyze feedback: the beginning of the funnel (e.g. measuring the quality of your product content), the actual purchase within the funnel (e.g. capturing exit insights, such as reasons behind shopping cart abandonment), and lastly the confirmation page at the end of the funnel (e.g. measuring how your customers experienced the ordering process through the level of effort it cost them to achieve their goal – Customer Effort Score).

Focusing on these these funnels will not only help grease the wheels for your feedback programme, but also put you on the path towards a better customer experience.

2. You need to better serve your mobile shoppers

Mobile shopping has exploded in the last few years. And this rise in popularity has since redefined the customer journey for retail customers in big ways. In addition to performing research on their mobile devices, consumers are now also making more purchases on their mobiles devices too.

Take it from Vice President & Principal Analyst at Forrester Research, Thomas Husson,

“Mobile is becoming not only the new digital hub but also the bridge to the physical world. That’s why mobile will affect more than just your digital operations – it will transform your entire business.”

In fact, according to Google, thirty-four percent of online retail purchases are now taking place on mobile devices. And while this figure serves as a clear sign that consumers are becoming more comfortable making purchases on their mobile devices, it also puts a bit of pressure on online retailers and how their mobile experience comes across for consumers. So how can you optimize the mobile experience to keep your customers coming back?

In-app feedback can greatly enhance the user experience for mobile users. Mobile apps are still somewhat new for a lot of companies, which means there’s a lot of room for improvement in terms of usability. Should something go wrong, you’re going to need a way of finding out where and how.

Your customers are often the first to find technical errors and flaws on your mobile app so having a feedback option available will help you capture valuable insights (in real-time) and quickly resolve any issues that sprout up.

3. Your customers are demanding personalized experiences

Ecommerce companies nowadays are dealing with modern, tech-savvy consumers whose expectations are through the roof. One of the most common of these expectations is a personalized customer journey. Whether this is helping visitors navigate the shopping experience in a way that suits them best, or simply knowing their preferences and past experiences with your brand, it is something we must all incorporate into our digital strategies – especially in the ecommerce industry.

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”  – Jeff Bezos

So how can you meet these expectations and put yourself in a strong position to personalize online journeys?

The integration of customer data/profiles and digital feedback can provide your business with rich insights into the customer journey, and thus equip you with the means to provide them with memorable and desirable customer experiences. Combining your feedback with customer data, such as segmentation data & AB test sessions, which are usually stored in cookies and Javascript objects (such as Google Tag Management layers) serve up insights such as loyalty levels (e.g. NPS) across different age distributions or struggles to achieve goals (e.g. CES or GCR) in certain regions of the world.

Not only will this data help you contextualize your feedback and allow you to pinpoint which customers are struggling to reach their online goals and which customers are most likely to churn (less loyal), but it will also guide you in providing your customers with a more relevant and personalized user experience in both the short and long-run.

4. You’re struggling to differentiate from the competition

As a smaller webshop, you do everything possible to steal market share from the “big dogs”. Competing with price is an option, but competing with service and experience is a smarter long-term strategy. By gathering feedback at key moments in the customer journey it becomes clear how your customers experience important online processes. It also shows that you value the opinion of your customers.

Asking your customers for feedback provides useful and actionable insights. It allows you to make structural improvements that make it easier for your customers to order. The easier it is for customers to get something done via your digital touchpoints, the more likely they are to come back. This ensures a higher level of customer loyalty, leading to more sales and better experiences for your customers.

5. The industry is continuously evolving

Customer satisfaction often stems from continuous improvements made to online funnels and web pages, which means your website or app should not be a static medium but rather something that is changing all the time. In other words, analyzing and acting on your feedback is an ongoing process.

Companies are constantly innovating and consumer behavior is constantly shifting. Habits will continue to evolve along with technology and where will we be? We’ll be forced to adapt to the circumstances we are given or lose relevance.

Keeping up with the competition

As you can see, the struggle is real. But every ecommerce company has the same chance of achieving success. The key is recognizing that listening to the voice of the customer is what will put you on that path. Digital feedback provides you with the opportunity to enhance your offerings online, from the customer journey as a whole to each and every individual touchpoint that your customers are wrestling with.

Author Bio: Erin Gilliam, Content Marketer at Mopinion, has a background in international business and digital marketing. Mopinion is an all-in-one user feedback software that helps digital enterprises listen, understand and act across all digital touchpoints (web, mobile and email). It is now one of the fastest growing companies in the digital customer experience space.

 

 

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