Nearly 50% of businesses in the United States fail within the first five years. Don’t let this intimidate you, as there are steps you can take to avoid this.
One of the most important steps to creating a successful eCommerce business is leveraging the right technology. Using digital shelf analytics (DSA) is crucial to consider, but not everybody understands what they need to know about digital shelf data.
So, what is digital shelf technology? Let’s explore the key information to keep in mind.
What Is Digital Shelf Analytics?
This is a software solution that aims to streamline data compilation for manufacturers, brands, and consumer packaged goods companies. It crawls the web to acquire and consolidate metrics from digital retailer platforms.
Some of the most common include Walmart and Amazon. This allows eCommerce business owners to see real-time performance metrics on their products. With access to these insights, you can emphasize strategies that work and reconfigure those that aren’t meeting your needs.
Primary Benefits
Understanding the benefits of digital shelf analytics is simple. It will save time on data compilation, drive higher conversion rates, and improve analytical accuracy. The amount of time you save can prove to be invaluable.
A common bottleneck for many businesses is the lack of time to accomplish more work and generate more revenue. By using DSA, you’ll likely find that you can scale your business far sooner than anticipated.
The increased analytical accuracy it provides is achieved through automation. By automating data-related tasks, you eliminate the chance of human error.
Higher conversion rates will catapult your revenue. Combined with PIM software, you’ll achieve performance like never before.
Key Features
Digital shelf monitoring allows users to gain insight into product keywords. It offers breakdowns of your keyword ranking, the traffic those keywords drive, etc.
You’ll also have access to information on ratings and reviews. You can analyze feedback your brain receives to make future improvements.
DSA provides insight into competitor feedback, as well. If you feel as though your brand falls short, check out what your competition is doing. One of the most important features is availability monitoring.
It’s no secret that supply chain issues can derail an entire business. If customers can’t find what they’re looking for, they will choose a competitor. Availability monitoring alerts you on stock shortages and prevents delisting.
Finding Software
Before choosing DSA software, check its reputation. What have past customers had to say about it? Were they satisfied with the results they got?
You should also look into its pricing structure. This will help you avoid financial surprises.
Only choose a software provider that offers ongoing support. The last thing you want is to encounter problems you have to resolve on your own.
Get Started Today
Understanding “What is digital shelf analytics” can be a great way to take your company’s performance to new heights. From here, you can boost your overall revenue and maximize your customer experience.
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