Tag: E-Commerce

IR20

Online Retail Client Enhance Business Performance Using Marketing Mix Optimization

Online retail

LONDON: Quantzig, a global analytics services provider, has announced the completion of their latest marketing mix optimization for an online retail client. The increasing usage of mobile devices for shopping and alternative payment methods by shoppers are fueling the growth of online retail space. Amid the recent economic uncertainty, leading organizations are planning to develop competitive strategies to reduce operational costs and further improve their product offerings. Moreover, leading organizations are linking financial and operational plans to track performance and improve their overall business efficiency.

“Marketing mix helps businesses quantify their marketing activity to understand the impact of their marketing campaigns on the business performance. The primary objective of the engagement was to quantify the impact of marketing decisions on the past and the future sales.” says an expert at Quantzig.

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The solution offered helped the online retail client assess the marketing effectiveness and allocate the future spend to improve business efficiency. Furthermore, the solution also helped the client determine the effectiveness of advertising and targeting campaigns across various channels. The online retail client was able to optimize their cost and adjust new initiatives to deliver the business goals better with the help of the solution.

 

Additional Benefits of the Marketing Mix Solution

  • Identify the actual drivers of performance and segregate it into internal and external factors
  • Gain actionable insights to increase sales, market share, and marketing ROI
  • To know more, request a proposal

To know more about how our marketing mix solution helped the online retail client

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Watch Out for These Emerging E-Commerce Trends

The e-commerce industry is growing at a breakneck speed – making it essential for the market players to adapt their businesses to the emerging ecommerce trends to stay abreast of the growing companalystetition. The businesses in the e-commerce space can leverage these ever-changing ecommerce trends to devise an effective marketing strategy. The evolving ecommerce trends help businesses to drive customer engagement, acquire new customers and retain existing ones, build consumer loyalty to expand their market share.The market landscape is always changing, thus making it essential for organizations to integrate these emerging ecommerce trends to achieve success and sustain their business model.

#1 Ecommerce trends – Introducing Technology

Of all the emerging ecommerce trends that companies should embrace, technology adoption is the most important as it helps businesses to stay ahead of the competition. E-commerce businesses offer a factor of convenience and wide range of options to consumers, thereby gaining an advantage over their brick-and-mortar counterparts. E-commerce platforms can leverage emerging technology to create brand differentiation to gain a competitive advantage.

#2 Ecommerce trends – Personalization Improves Customer Experience

The major challenge faced by e-commerce platforms is the abandonment of shopping cart by customers. The solution is to improve on-site and off-site customer experience by using personalization and automation technologies. E-commerce players can make use of consumers browsing history, interactions with the website, and utilize the web and social media analytics tools to create and send automated personalized messages that encourage them to shop with them. Businesses can build personalized communication materials to connect to their customers, encourage them to make a repeat purchase, seek customer feedback, make suggestions based on their browsing history and past shopping data, thereby building brand engagement.

#3 Ecommerce trends – Targeted Advertising on Social Media

Targeted advertising is a method through which e-commerce businesses can target potential customers with a certain trait, based on demographic factors or user location to maximize the ROI on total advertising spend. Marketers should leverage the benefits of targeted advertising on social media to ensure their advertising campaigns reach the appropriate audience. These evolving ecommerce trends offer valuable opportunities for businesses irrespective of their size; thereby, making the e-commerce space dynamic and highly competitive in nature.

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Read our latest case study to know more about how we’ve helped a multitude of companies leverage E-commerce platforms to improve ROIs and drive profitability

IR20

Transport and distribution management and spend analytics delivers USD 10 million in savings for online retailer

Business Challenge: Improving distribution strategy by analysis of distribution spend

An European online retailer wanted to improve its product distribution by analysis of the spend on in-house versus 3rd party logistics provider, and determine the best distribution options.

Situation: Determining between in-house and 3PL distribution

The client used 3rd party logistics (3PL) provider for transportation of its products from production plants to non-local warehouses, while it leased fleet and managed in-house transportation for local warehouses. Client wanted to evaluate the cost of self-managed transport service versus using 3PL in non-local transport, and recommendations on the best possible options.

Solution/Approach: Spend analytics to determine the expense and cost benefits of each option

We mined all of the client’s historical and real time transportation data for all deliveries, used spend analytics to monitor the transport and logistics costs, predict the potential cost outlays and savings from change in transportation method, and identify the most efficient methodologies.

Impact: USD 10 million savings in a year

Based on our insights, the client switched to self-managed transportation, using leased fleet across a few closer outbound destinations while retaining 3PL service for distant locations. The client realized USD 10 million in annual savings with the improved distribution management.

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Load planning delivers US$ 1.2 million transportation savings to E-commerce company

Business Challenge: Better order management for reducing transportation costs

A leading e-commerce company wanted to optimize its order management and shipment, in order to reduce its overall transportation costs.

Situation: Incurring high cargo rates due to incorrect load planning

This client used third party logistics provider for its shipment delivery. It compared its transportation costs as percentage of sales to other companies and realized that despite low transportation rates, its distribution cost was highest, and that the significant difference arose in the cargo shipment charges, as its rates were based on shipment size classification. The client was looking for an effective solution to reduce its transportation costs.

Solution/Approach: Asset optimization, load planning and order optimization analytics

We integrated the client’s historical distribution and order management data, we used asset optimization, load planning and order optimization analytics for shipment management, based on maximum order aligning capacity. We determined the most effective load sizes and docking which was flexible enough to facilitate adjustments until the day of shipment.

Impact: US$ 1.2 million savings in transportation costs

The client used our load planning solution to uncover the excessive costs it incurred due to splitting order into multiple shipments, and also improved its order management, delivering reduced overall transportation costs, and US$ 1.2 million in savings.

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Social media based campaign promotion tracking helps online retailer successfully launch one-day product delivery service

Business Challenge: Social media based campaign tracking

A US based online retailer wanted to understand the user sentiment to its trial based one day product delivery service, and also understand how the customers were reacting to the promotion campaign.

Situation: Measuring the impact of campaign for new service

The client had introduced a trial one day delivery service at additional charge for orders above a certain amount, and had developed vigorous marketing campaign to promote the new service. Client wanted to track and measure the impact of the campaign across all social media channels, to understand the customer perception and take future investment decisions.

Solution/Approach: Comprehensive coverage monitoring, campaign monitoring and customer sentiment analysis

We defined the search algorithm for comprehensive coverage monitoring. We identified key performance indicators (KPIs) utilized for campaign and buzz monitoring, ad performance monitoring,  and customer sentiment analysis to understand the sentiments around the new service and whether it was a hit with customers or not.

Impact: Positive sentiments leading to expansion of service to a larger scale

Based on our insights the client identified the non availability of shipment tracking as the key detractor, and added the provision to monitor the shipments and track them through the day. The client also identified the positive sentiments about its new service and made plans to expand the service to bigger scale.

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