Back in September, Saradha Sethuraman, eCommerce Business Director at OMG Transact joined our eComm Live line-up, sharing her invaluable insights with the 8 point game play for growing your brand online.
As we approach the busiest season for eCommerce in the run up to the holiday season, we caught up with Saradha, who has put together some top tips for maximising your eCommerce success for Q4 of 2020.
Maximising Q4 success on eCommerce
There’s no denying that 2020 has been a minefield for marketers. In fact, some brands like P&G and L’Oréal have cited that they have made 10 years’ worth of progress within eCommerce in the past three months. Indeed, this has been driven by broad behavioural changes across all demographics in every country.
We know that eCommerce growth has been significant, however, it’s been most noticeable in the CPG sector, with changes in customer behaviour expected to continue beyond the pandemic. In fact, a recent McKinsey study pointed to a seismic shift in digital engagement with online grocery share climbing from 7% to 30%.
With key sales events like Amazon’s Prime Day having moved to October and the lingering effects COVID-19 has had on consumer behaviour, online shopping is going to be bigger than ever this Christmas. So, to remain profitable and competitive, it has never been more important for brands to have a successful Q4 online that continues into 2021.
With that, below are some of our top tips to help you keep on track for Q4 and beyond:
1. Working with common goals across functions
Across brands, eCommerce is typically the odd member of the family, with varying objectives and goals spread across different functions in the organisation.
With shared ownership across most media, marketing, commercial and supply chain functions, it is always crucial to ensure that teams are moving towards the same goals. Simultaneously, it does not help to have lengthy internal process meetings which could be better spent in revenue generating activities. It is therefore crucial to have close alignment across customer development, trade, media, and brand comms teams to ensure everyone is rowing in the same direction to succeed in this key trading period.
For example, it does not work for the sales team to focus on doubling market share, whilst the marketing team tracks on ROAS and supply chain targets are to move inventory at the warehouse down to zero.
2. Get your channel mix in order
If you have not done this already for Q4, this would be a great starting point ahead of Black Friday and Christmas. If your products sell across various channels – generalist and specialist retailers, pureplay, marketplace, D2C – then it is critical to understand where you would have maximum gains with your investments in this quarter.
3. eCommerce ready portfolio
Next, conduct a retail readiness check: do you have the right products, with right stock levels on each retailer’s website as well as on your own platforms? Every product detail page, whether it is on your direct to consumer platform or on a retailer website, needs to have up-to-date content and imagery as well as features you know consumers are searching for.
Why? This is because consumers are spending more time on product detail pages – reading reviews, asking questions – making it the most crucial asset in a marketer’s hand. Product detail quality is more important than ever given the increased competition online. As a result, strong content on your products’ pages such as a clear title containing your brand, the product variant and size will help show why your product fills the customer’s need. In turn, this should increase the conversion rate of your campaigns.
4. Build a robust promotional and media plan
Covid-19 has caused several offline events to be pushed out or moved into an online format. So, building out robust promotional plans for online channels and ensuring the right media support both inside retail platforms as well as outside is crucial.
Data shows that being seen on the first page of search results on a eCommerce website (something we refer to as the digital shelf), accounts for 90% of revenue. And in this new world, your digital shelf position has significant impact on having a successful Q4. This can only be achieved by having retail-ready products, supported by an equally robust retail media and promotional plan.
There are number of revolving parts in this quarter and it helps to keep track of the above said points to ensure nothing gets missed out.
All the best!
Don’t forget, all talks from eComm Live 2020 are now available on-demand.