The COVID-19 pandemic has radically impacted the consumer psyche and businesses alike. Coming as a wake-up call, this impending crisis has pushed businesses to mend their operational strategies to ensure long-term success.
The ever-evolving consumer behavior paired with strained financial performance made one thing very clear—sticking to traditional approaches is no longer enough. This more dynamic environment demands organizations to develop a sustainable growth strategy that extends beyond their traditional focus. Perhaps, there is no better way than ecommerce acceleration—expanding on to digital platforms that are synergistic to their core business.
Statista reports that “In 2021, retail ecommerce sales amounted to approximately 4.9 trillion U.S. dollars worldwide. This figure is projected to grow by 50 percent over the next four years, reaching about 7.4 trillion dollars by 2025.” Whopping, isn’t it?
However, rolling out businesses online isn’t as easy as starting it offline. Once an ecommerce website is developed, the next step is to upload catchy and user-friendly information about the product and other things like FAQs, navigation tools, contact us, etc. The ever-expanding product range, soaring data size, online product listing, and challenges of product categorization are a nightmare.
And with a growing affinity for online shopping, you must ensure a seamless customer experience with equally great products and exceptional services; hence, you can’t afford to lose a major chunk of your time on ancillary tasks like product data entry. Fret not, as consulting a professional or collaborating with an experienced ecommerce data entry company helps you out and revitalizes your ecommerce management. Here’s how:
1. Think of Higher Revenue
You know that you aren’t the only one selling a product/service in the market. There are numerous other ecommerce businesses dealing with the same. Besides, gone are the days of the linear customer buying journey. It looks more like: switching between websites, exploring search engines for promo codes, vouchers, coupons, etc., and drifting to trusted online sources for reviews and ratings before making the purchase decision. So how do you differentiate yourselves from others?
Professionals have got you covered! Capturing and analyzing all these interactions while focusing on core business competencies is a challenging task. But it hardly presents any difficulties for the outsourcing companies as they are equipped with a pool of competent professionals and machine learning technologies. They also add keyword embedded tags and keywords to help your product climb up the ladder and top the search results.
A Forbes study states that Amazon’s product recommendation engine drives 35% of cumulative company revenue. You must be wondering how? The professionals gauge and churn all the online behaviors and compile comprehensive user personas into data-rich profiles of different audience segments. The depth of such profiles goes beyond the general demographics data – a bonus point, isn’t it?
2. Hit the Spotlight
A book named Milkshake Marketing reads, “about 95% of the new products fail.” Putting it simply, the idea that looks good on paper need not necessarily look that good out of paper. Also, developing and selling new products is never an easy task!
One of the major reasons for a product/service flop is a poor market research and product positioning. Numerous e-commerce entrepreneurs tend to capitalize on-the-moment product trends, instead of developing a 360-degree industry outlook and planning. With outsourced ecommerce product data entry services at your rescue, you definitely find a way out!
The product data entry services encompass various elements such as engaging, concise, and sales-converting descriptions. They position products in an aesthetically pleasing manner that automatically appeals to the buyer’s attention in one go. This provides the buyers a reason to stay on your website and make quick purchase decisions. Hence, your product gets the deserving spotlight!
3. A Pricing Strategy that Makes Sense
The professionals offer granular insights allowing you to spike or drop the prices according to the individual customer’s tolerance just like Uber does. Therefore, it is not wrong to say that data-driven price management initiatives yield significant results in the short-term perspective that are noteworthy.
You’ll be amazed to know that Amazon’s software engine is built to manage consumers’ perception of price, i.e., the software identifies the goods that loom largest in consumers’ perception and keeps their prices carefully in line with competitors’ prices, if not lower. The price of everything else is allowed to surge.
Not all shoppers welcome such tactics. The professionals carefully study the market and keep a close eye on the competitors to help you develop an effective pricing strategy; hence, you can meet the customer’s demand for transparency and fair market practices.
Roughly valued at $5.55 trillion (as sourced from Shopifyplus), borderless ecommerce is a treasure trove for businesses. While the brick-and-mortar stores suffered major setbacks, internet retail followed an upward trajectory as buyers turned to online shopping even for groceries.
With the consumers inclining more towards online shopping, digital product catalogs are necessary for the success of online retailers. Likewise, product data entry forms a vital aspect of the go-to-market strategies. Hiring professionals with agile and robust product data entry services and catalog processing services help you keep the catalog synced with real-time updates. Therefore, you can focus better on customer-centric processes and deliver a seamless user experience.