Have you ever bought or sold a product online? Ten years ago many people would say no, but today very few people can say “no” to this question. At Diginius we work with companies across many different industries who are promoting their services and products online. As we work to devise strategies and solutions to grow business online, there are several recurring themes that tend to achieve solid results and high return on investment, for companies selling physical products in a digital world.
As the online market matures and consumers become incredibly adept at buying online, marketplaces such as Amazon and Ebay mature. Businesses selling physical goods must consider a number of factors to have a consistent presence online. Some of these include:
1) Marketplaces – Amazon and Ebay and other niche marketplaces have considerable reach in terms of customer base and cost effectiveness, but have other considerations as well. One may expose sensitive sales data on these platforms and open up additional competition. The automation for order processing necessary to sell at any substantial level must usually be sourced from a reliable partner. Competitive pricing may necessitate pricing algorithms and trading rules.
2) Website and direct marketing – in order to build long term equity and loyal customer relationships, a solid website presence and strategy is normally a must, rather than selling through marketplaces continuously with no control over the brand or market or ability to communicate directly with customers. To do this requires a site that functions, search engine optimization and marketing strategy, email communication and other functions.
3) Google Shopping – to drive traffic directly to your website, Google Shopping is currently one of the best mediums to do this. However this requires data integration and continuous updating and maintenance.
4) Competitive pricing – Customers tend to build loyalty and trust with a product brand and not always the retailer – someone that wishes to order a product often knows what they want. The next thing they care about is when they can get it (stock level) and what price it comes at. Pricing your products at market price – not too high or too low – usually makes the difference of which retailer will get the order to service the customer. If modern retailers and brands do not have the tools to monitor these areas and automate the processes around updating pricing it is difficult if not impossible to compete in the way the markets are moving.
In order to compete and thrive in the ever evolving online world, integration and management of these online efforts can be an arduous and frustrating task. However it does not need to be – Diginius Insight is a platform that brings together all of the online data and systems and automates the processes to deliver reporting via dashboards and regular reports. Ask to see a demo or enquire about our Intelligent Pricing, Lead Intelligence, SEO, and related modules of the system.
As a result of the needs of our clients, Diginius has developed Diginius Insight, a sales and marketing platform designed to provide information back to the business covering online operations and the competitive environment as well as automating processes and providing the infrastructure to compete effectively in the online market. If you would like to see a demonstration of the Diginius Insight software or discuss your online strategy, please get in touch.
Written by Nate Burke
Chester Yang is the Microsoft Program Manager at Diginius with a background in economics and quantitative research.
At Diginius, Chester focuses on nurturing partnerships with PPC agencies and integrating marketing and sales solutions.