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3 steps to comparison shopping success

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3 steps to comparison shopping success

  1. 1. Before we get startedWebinar Subject – 1. 1 This is a brief (30 minute) webinarExamine the three 2. There are likely a very broad spectrum ofprimary issues expertise levels attending this webinarpreventing many fromachieving success with 3. We i h to 3 W wish t provide valuable concepts and id l bl t dComparison Shopping other information to every level of attendeeEnginesDefine the three key Thereforesteps to achieving thatsuccess for yourself. 1. Please post questions to the provided chat, there are technicians monitoring 2. Please be patient while we cover some basics or advanced topics 3. Please place your phones on MUTE for the courtesy of others
  2. 2. Three Steps to Comparison Shopping Engine Success Webinar Goals: • Examine the three primary issues preventing many from achieving success with Comparison Shopping Engines • Define the three key steps to achieving that success for yourself.Speaker: Michael Lambert
  3. 3. Search Engines vs Comparison Shopping Engines Search Engine Search Engines attributes: •Driven by keywords and web page content •When successful, they successful bring “researchers” to a merchants siteBEST for site andcompany “Branding” Branding”
  4. 4. Search Engines vs Comparison Shopping Engines Comparison Comparison Shopping Engines Shopping Engine attributes: •Product Content •When successful, they successful bring “shoppers” to a merchants preferred product pageBEST for productsales.sales
  5. 5. Preliminary Information Industry Statistics Statistics: Online Shoppers for year end (USA only) 2000: 48 million•20% of all internet 2003: 90 millionproduct sales occurred 2005: 120 millionthrough Comparison 2006: 130 million (estimate)Shopping Engines 2010: 155 million (estimate, Piper Research) Existing Marketplace:•Consumers arriving at USA, online, non-travel revenues across all shopping destination sites*online storefronts from 2000: $27.3 $27 3 billionCSEs average a 25% 2003: $68.4 billionhigher order total 2005: $109.4 billion 2006: $132.0 billion (E) = 3.5% of total retail commerce•62% of online shoppers 2010: $225 billion (E) = 5% of total retail commercebuy after visitingshopping destinationsites 20% of online shoppers use shopping comparison sites today These shoppers spend 25% more than the average online consumer•Percentage of Sales Percentage 62% of online shoppers buy product after visiting shopping destination sitesthrough ShoppingDestination sites isgrowing each year
  6. 6. Many merchants ISSUES FOR ONLINE MERCHANTS:abandon one or more 1. All shopping destination sites have variousComparison configuration requirementsShopping Engineefforts due to either: ff t d t ith 2. 2 Time consuming process to custom manage data feeds 3. 3. Insufficient toolsto create, analyze and manage effective Insufficient tools to create, analyze and manage• Poor or No CSE Marketing CSE campaigns effective CSE campaigns Vision 4. High pay-per-click costs and limited marketing f funds• Lack of ability, tools or resources to accomplish 5. Inefficient use of marketing dollars = lower Return on the CSE Marketing vision Investment (ROI) 6. Establishing relationships with shopping destination sites 7. Inefficient use of IT staff – Other processes could suffer 8. 3rd party managed solutions are extremely expensive and require handing over significant control of your company
  7. 7. Many merchants become yconfused, andoverwhelmed with thequestion of whichComparison ShoppingEngine is “Best” for them. Best them The real issues are:•How to “re-tool” to try anew CSE•How to assess successes ?and failures for each CSE•How to adjust the plan if Howand when necessary ********** OR*********** How t optimize the H to ti i th Comparison Shopping Engine relationship
  8. 8. Before d fi iB f defining Comparison Sh C i Shopping Engine i E ithe three steps Marketing Goalsin the processtowardsuccess, we 1. Increase Sales with acceptable Return Increase with acceptableneed to define ReturnSpend (Profitability) on Ad on Ad Spend (Profitability) p ( y)the goals. 2. Scale successes in a controlled manner (scalability) 3. 3 Use as few internal resources as possible (efficiency) 4. Maintain control of the CSE marketing process ( (control) t l)
  9. 9. Topic Importance Two of the three key ways to effect Profitability 8 Scalability 0 profitability within this scenario are: Efficiency 0 1. Adjust h t 1 Adj t what content is provided f t ti id d for Control 0 each product to each CSE (content optimization) 2. Adjust which products are marketed through each CSE (product optimization)
  10. 10. FOCUS: Content Optimization Topic Importance Content Optimization: Profitability 8 Provide the best possible content for each product and Scalability 0 each marketing effort. g Efficiency 0 Control 0 •Send as many product attributes as you have and the CSE will accept •Take the time to focus on your prod ct Take foc s o r product name, descriptions, keywords and other feed field content.
  11. 11. FOCUS: Content Optimization Topic Importance Content Optimization: Profitability 8 Send as many attributes as you have and the CSE will Scalability 0 accept. Efficiency 0 We will use Shopzilla as an example: Column name Control 0 1 Category* Required 2 Mfr Not Required 3 Title* Required Few data fields 4 Description Not Required are required by 5 URL* Required most CSEs. 6 Image URL Not Required 7 SKU* Required Providing non- o d g o 8 Stock Not Required required fields 9 Condition Not Required will aid in your 10 Ship Weight Not Required 11 Ship Cost Not Required click to purchase 12 Bid Not Required Not Required ratios and Return 13 Promo Text Not Required on Ad Spend. 14 UPC Not Required 15 Price* Required
  12. 12. FOCUS: Content Optimization Topic Importance Content Optimization: Profitability 8 •Focus on the content of your data Scalability 0 Column name Suggestions Enter the name of the category where this product appears in your online store. If you do not use a Efficiency 0 CSE provided category, they cannot guarantee that your product will appear in the preferred Category* category on their site Control 0 The Manufacturer field should contain the manufacturer name, brand name or publisher of the product.  Mfr Consumers often search by Brand or Manufacturer, so include this whenever available. Title* Include additional information along with product name for best resultsAdding dditiAddi additional l Description Not required But if you include correct data will be helpful Image URL Not required But if you include correct data will be helpfulinformation in key Use UPC for Music & Movies and ISBN for books. Use Mfg Part Number or Model Number forfields can be SKU* Computer Hardware & Software or electronics Stock designates the quantity of products currently on-hand or if the product is in-stock. Use ahelpful.helpful Stock numerical value to represent quantity in-stock; alternate designations include: In-Stock, Back in stock; Order, Pre-Order, Out of Stock, Limited Quantity, Special Order, See Site In Stock, Back- Condition Include for better Data Processing Ship Weight Not required But if you include correct data will be helpful Ship Cost Not required But if you include correct data will be helpful Promo Text Promo Text Not required ut if you include correct data will be helpful Not required But if you include correct data will be helpful UPC Not required But if you include correct data will be helpful
  13. 13. FOCUS: Product Optimization Topic Importance Product Optimization: p Market the highest performing products and remove products creating a significant negative impact while maintaining a constant marketing budget. Profitability 8 Scalability 0 To help illustrate this point, and to create a starting point, lets make a Efficiency 0 few assumptions as a “faux” case study: f ti “f ” t d Control 0Product Optimization •15,000 total SKUs (all being marketed to this•Do remove high cost channel)per click items with lowor no sales •$5,000 monthly budget to this CSE•Do NOT remove items •Average price point of $60/product Averagewith low or no cost perclick – regardless of •Average Cost Per Click of $0.33sales performance •Starting Click to Purchase Rate of 1% •Starting Monthly Revenue of $9 000/month $9,000/month from this channel
  14. 14. FOCUS: Product Optimization Topic Importance Product Optimization: Profitability 8 Market the highest performing products and remove Scalability 0 products creating a significant negative impact while Efficiency 0 maintaining a constant marketing b d i i i k i budget. Control 0Balance SKU count tB l t to Let’s View a Demonstration Applet Nowachieve the desiredgross revenues andClick to Purchase ratios, SKU Count SKUs Marketed CTPR Avg Price Point Click Count Monthly Budget Avg CPC Revenues 15000 15000 1% $ 60 00 60.00 15,000 15 000 $ 5 000 00 5,000.00 0.33 0 33 $ 9 000 00 9,000.00or R t Return on Ad S Spend. d SKU Count SKUs Marketed CTPR Avg Price Point Click Count Monthly Budget Avg CPC Revenues 15000 10500 6% $ 60.00 15,000 $ 5,000.00 0.33 $ 54,000.00 SKU Count SKUs Marketed CTPR Avg Price Point Click Count Monthly Budget Avg CPC Revenues 15000 7500 8% $ 60.00 15,000 $ 5,000.00 0.33 $ 72,000.00
  15. 15. FOCUS: Product Optimization Topic Importance Product Optimization: Profitability 8 Market the highest performing products and remove Scalability 0 products creating a significant negative impact while Efficiency 0 maintaining a constant marketing b d i i i k i budget. Control 0Balance SKU count tB l t toachieve the desiredgross revenues andClick to Purchase ratios,or R t Return on Ad S Spend. d
  16. 16. Topic Importance 1. 1 Adjust what content is provided for Profitability 8 each product to each CSE Scalability 0 Efficiency 0 (content optimization) Control 0 2. Adjust which products are marketed through each CSEThird key step in (product optimization)successful CSEmarketing >> 3. Assess and evaluate your efforts, y , and adjust accordingly.
  17. 17. FOCUS: Assess and Adjust Topic Importance Process Assessment: A merchant MUST have a feedback or reporting mechanism Profitability 8 which should include clicks AND purchases. Scalability 0 For best results, prioritize your analysis as follows: Efficiency 0 1. High Click Cost on products, categories or brands with Control 0 low sales performance within a channel1. What ISN’T working 2. Any categories, products or brands with low sales and why? performance within a channel2. Change price, 3. Try out unknown products, categories or brands within a description, channel category, photo, etc… etc Overall – O ll3. IF ALL ELSE Focus On Click to Purchase Conversion FAILS, and cost is high, pull the or product or category category. Return on Ad Spend p NOT JUST CLICKS!
  18. 18. FOCUS: How “We” do it Topic Importance Acquiring Storefront Data: A i i St f tD t Profitability 8 Scalability 8 Efficiency 8 Control 8Import your filedirectly from yourstorefront, aspreadsheet orvirtually any other y yfile format which isavailable to you.
  19. 19. FOCUS: How “We” do it Topic Importance Acquiring Storefront Data: A i i St f tD t Profitability 8 Scalability 8 Efficiency 8 Control 8Schedule the importto easily maintaincurrent productmarketing data.
  20. 20. FOCUS: How “We” do it Topic Importance Mass updates: Profitability 8 Scalability 8 Efficiency 8 Control 8
  21. 21. FOCUS: How “We” do it Topic Importance Channel Feed Automation: Profitability 8 Scalability 8 Efficiency 8 Control 8
  22. 22. FOCUS: How “We” do it Topic Importance Channel Feed Automation: Ch lF dA t ti Profitability 8 Scalability 8 Efficiency 8 Control 8
  23. 23. FOCUS: How “We” do it Topic Importance Channel Feed Automation: Ch lF dA t ti Profitability 8 Scalability 8 Efficiency 8 Control 8
  24. 24. MerchantAdvantage is amerchant-centric platform CHANNEL MANAGEMENT IS PRECONFIGURED FOR: NOTE: MerchantAdvantage supports ANY additional shopping destination site feed at no extra cost to thethat provides indispensable Merchant. In addition to these preconfigured feeds MerchantAdvantage is also feeding clients to over 22 othertools which help Merchants select shopping destination sites.communicate with valuable h l bl third party vendors.
  25. 25. FOCUS: How “We” do it Topic Importance Assess to Adjust: Profitability 8 Scalability 8 Efficiency 8 Control 8Sneak Peek at anew reportingfeature!
  26. 26. FOCUS: How “We” do it Topic Importance Assess to Adjust: Profitability 8 Scalability 8 Efficiency 8 Control 8
  27. 27. Free ResourcesMore InformationM I f ti Resource R What Wh t How H It is our mission to Newsletter Monthly e-commerce Sign up at keep marketing Marketing News Letter http://www.etaildtail.com – Trends Tips and p control in the hands Advice of the merchant. To Blog Blog focused on Visitthat end, we wish to ecommerce Marketing http://www.etaildtail.com provide as many and CSEssupport resources as Forum Forum for merchants to Click eTaildTail Tattler at possible to aid the communicate http://www.etaildtail.com merchant in White Papers and Various industry Click on Education accomplishing their Reports information and reports http://www.etaildtail.com http://www etaildtail com marketing goals. The latest on our Company and Visit Products and application information http://merchantadvantage.com partners
  28. 28. Additional Member ResourcesMore InformationM I f ti It is our mission to Resource What How keep marketing Discounts Discount offers from our Available within the partners to our member merchants control in the hands merchants – Including online back office, and of the merchant. To CSE discounts updated regularly that end, we wish to Live and Ticket based Implementation and Available within the provide as many Merchant Support education provided by member merchantssupport resources as our t team of f online b k office and li back ffi d technologists via telephone possible to aid our member merchants Billing Status Member invoices and Available within the in accomplishing status member merchants online back office andtheir marketing goals. via telephone Weekly Webinar - *NEW Weekly Channel Members will be notified Management application of time and location training
  29. 29. Three Steps to Comparison Shopping Engine Success Th St t C i Sh i E i SAttendees, Thank you very much for your time and interest!Questions not answered during th webinar will b posted atQ ti t d d i the bi ill be t d thttp://www.etaildtail.com under the “Tattler” tab in the thread“Three Steps Webinar” p Webinar details, including downloadable materials, will be located at: www.MerchantAdvantage.com/webinar/051607 “Take Control of Your Channels >> Take Control of Your Profits.”

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