The document discusses strategies for product optimization through customer value analysis in the Omniconvert Customer Value Optimization Academy, highlighting methods to evaluate product performance, such as identifying toxic and sticky products and analyzing customer experience scores. It offers actionable insights on product prioritization and the importance of marketing efforts, retention rates, and customer behavior in driving sales. The document also encourages enrollment in its optimization course to further enhance e-commerce strategies.

1. PRODUCT OPTIMIZATION

2. Omniconvert Customer Value Optimization Academy, 2021

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The company The customer

4. Omniconvert Customer Value Optimization Academy, 2021
> What you say Marketing
> What you sell
> What you do
Merchandising
Customer Experience

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REPETITION LEARNING

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> What you say Marketing
> What you sell
> What you do
Merchandising
Customer Experience

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Product performance +
customer segmentation =
actionable insights

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How to analyze the sales
performance of your catalog?
A. The common approach
B. The advanced approach

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1. Get rid of toxic products
2. Prioritize the sticky products
3. Add new sticky products to your offer

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1. Getting rid of the toxic products

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2. Prioritize the sticky products

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3. Adding new sticky products to your offer

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https://web.reveal.omniconvert.com/demo01/categories/catalog

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Product A
Product B
Product C
Product D
Product E
82% 55% 15%
16% 63% 29%
19% 13% 24%
8% 81% 54%
27% 31% 27%
Product Optimization Framework
CX Score
Behavior
Sales Intent score
21%
34%
67%
81%
89%

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Sales Retention CX Label Action Questions you want to answer
High High High True gems Keep on selling
Are we giving those products the high priority
they deserve?
High Low Low Fake diamonds Investigate further
Are those products not sticking due to low
quality or over-expectations or is this due to
their seasonality, low consumption pattern or
longer purchase cycle?
High High Low Needs more polish Investigate further
Is the CX score so low and retention so high
because of the poor quality and customers
can't find proper product alternatives?
Can we find other suppliers?
High Low High Shines, but not for long Investigate further
Is the retention low due to seasonality, lack of
marketing efforts or purchase cycle?
Low High High Potential hidden gems Prioritize them better
Is the sales volume low due to lack of proper
marketing efforts or due to low demand in the
market?
Low Low High Rare, but loved Investigate further
Why are these products so recommended if
the customers don't come back to buy again?
Low High Low Rare semi-precious Investigate further Why is the retention so high, but CX so low?
Low Low Low Simple stones
Exclude from your
merchandising efforts
Are we giving those products the low priority
they deserve?

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These are your real bestsellers.
Keep on selling
Action
Description
To find out Are we giving those products the high priority they deserve?
CX Score
Behavior
Sales
True gems

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These can be low quality or over-promising products, seasonal products,
products with low consumption pattern or longer purchase cycle
Investigate further
Action
Description
To find out Find out if this is due to low quality or over-promising website descriptions
CX Score
Behavior
Sales
Fake diamonds

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The Customer Experience can be improved by finding other suppliers.
Investigate further
Action
Description
To find out Why the customer experience is so low. Can we find other alternatives
to this type of products or other suppliers?
CX Score
Behavior
Sales
Needs more polish

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The low retention can be caused by seasonality, lack of marketing efforts
or purchase cycle
Investigate further
Action
Description
To find out What can be improved to increase retention?
CX Score
Behavior
Sales
Shines, but not
for long
CX Score
Behavior
Sales

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The low sales volume can be caused by a lack of proper marketing
efforts or due to low demand in the market
Prioritize them better
Action
Description
To find out What can be improved to increase sales
Potential
hidden gems
CX Score
Behavior
Sales

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These could be very appreciated, durable, long-lasting products but not
marketed enough
Investigate further
Action
Description
To find out
Why are these products so recommended if the customers don't come
back to buy again?
Rare, but loved CX Score
Behavior
Sales

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The high retention of these products might be caused by high necessity
and few options
Investigate further
Action
Description
To find out Why is the retention so high, but CX so low?
Rare, semi-precious CX Score
Behavior
Sales

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These are products that you should stop selling
Exclude from your merchandising efforts
Action
Description
To find out Are we giving those products the well-deserved low priority?
Simple stones CX Score
Behavior
Sales

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Merchandising
Which products have the highest density in the last order of ex-lovers?
How can we optimize the product assortment?
Product X - has a 65% more chances to churn customers than the other
products
Deprioritize Product X from the offer
Question
Data
Insight
Action
Result Higher CLV
How to use
in
Product-based cohorts

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Merchandising
Which brands/products have the highest order return rate?
How can we optimize the product assortment?
Brand X, Y, Z - have an order return rate higher than the average
Deprioritize Product X from the adverts or even unlist them from the
assortment
Question
Data
Insight
Action
Result Higher CLV
How to use
in
Product-based cohorts

35. If you want to expand your
eCommerce horizons,
sign up for the Customer
Value Optimization Course.
cvoacademy@omniconvert.com
Omniconvert Customer Value Optimization Academy, 2021
Enroll in the course