ECommerce, from the beginning, has been more nimble in adapting emerging technologies, with traditional brick & mortar retail always paying catch-up. So, even if you have a good online presence, are you making use of all the competitor and marketplace analysis tools other ecommerce sites are using?
A Look at The Possible Arsenal
Technology is evolving so fast, and online SaaS and cloud-based solutions are making it easy for ecommerce sites of all sizes to integrate these technologies into their marketing strategies. So what are the possible tools you could be missing out on?
Price Optimization and Dynamic Pricing Solutions
Price Optimization software like Intelligence Node Incompetitor, Omnia Dynamic Pricing etc allow you to track and analyze competitor pricing, market trends, and other factors to dynamically adjust your own pricing across any number of SKUs. You can set rules and parameters on how these price adjustments should work – the limits to stay within, who to compete against etc, to control these price changes.
Retail is all about choosing the best product assortments and presenting them in an attractive way. There are many merchandise optimization tools in the market that you can choose from like, InCompetitor , UpStream etc. They monitor and analyze market movements, competitor moves in pricing and merchandise assortments, demands, trends, customer preferences etc to help design an optimal product assortment. They also help you make instant stock adjustments based on current scenarios.
SEO Analytics Tools
These are tools like SpyFu and WooRank that conduct an audit of your own SEO strategies, analyse how well they are working. They also analyze competitor SEO strategies, the keywords used, identify the most successful ones, keywords with high potential that you might be missing on. You can also use Google Keyword Planner to find trending and ever popular keywords related to your products, to integrate into your SEO.
Content Analysis Tools
Content is king. This phrase might have become a cliche by now, but it is still true. So, how good is your content, is it helping you get backlinks, is it getting referenced elsewhere, is it helping to bring in more visitors? Software like Ahrefs, SEMrush etc analyze content, backlinks, SEO, keywords, etc – both yours and your competitors. They help you identify your best backlink strategies, what is working for others, and more.
Enhancing User Experience and Customer Satisfaction on Your Ecommerce Site
Providing the best user experience and customer satisfaction is the holy grail in retail. There are numerous tools that help ecommerce sites to do this better.
Use a tool like Owletter to analyze competitor emails campaigns, the hot topics, what strategies work, whether some strategies can create a spam reputation etc.
Use tools like Optimizely and Crazy Egg for testing user interface and user interactions. Analyze design elements to find what works and what doesn’t. Identify what users click on, find errors in your page design like items that users think are clickable but aren’t. All these help you improve your site design and user experience.
Use tools like Unbxd, Bounce Exchange, and ZenDesk to improve customer experience and to make them stay on your site for longer. UnBxd analyzes customer behaviour and helps you come up with better targeted marketing strategies. Bounce Exchange is self-learning exit-intent software that monitors customer actions on a page and predicts when they are about to leave the page. It then comes up with a pop-up that asks them to take a positive action like signing up for a newsletter, checking out a hot offer on the store etc, giving them the option to exit without following through on the action. Zendesk is a professional live chat tool that improves online shopping experience by providing customers a way to interact with a sales person, a support team member, etc.