E-commerce is one of the hottest sectors right now. With the proliferating mobile adoption, easy onboarding on marketplaces, and the increasing demand due to the raging pandemic, it is expanding rapidly. With this trend, there is an ever-growing need for e-commerce managers. These magical resources are responsible for a retailer’s online sales presence and take on tasks ranging from selecting the product range to returns management.
On a day to day basis, e-Commerce managers are responsible for:-
- Planning promotional and advertising campaigns
- Initiate Market Research
- Develop Pricing strategies
They constantly look at various data sources and then make decisions to optimize the product range and to be able to place targeted advertising. Ultimately, the main goal of an e-commerce manager is to improve conversion rates, i.e. the rate of purchases resulting from the shop visitors. However, this is often a very exhausting job and in the absence of the right tools, it can lead to burning out or worse deteriorating performance.
With all this in mind, we’re going to address five key ways that will allow you to be more productive—and successful.
Tip #1: Single view of data across marketplaces
The challenge for most SME e-commerce businesses is that of selling products on multiple marketplaces and marketing channels. On top of that, these sources are still proliferating across regions. It becomes overwhelming for e-commerce managers to track the sell-through of their products across these channels. They need a solution that can help them track these across all channels. This is where solutions like Tableau, PowerBI for visualizations, and open-bridge for access to multiple APIs are available. DeepFlux Fashion AI solution has 20+ integrations available for e-commerce managers to quickly integrate these data sources.
Tip #2: Automated Market Research for assortments and pricing
This is a critical task for every e-commerce manager. There are nuances in every domain in terms of research. For e.g. in Fashion, there is a need to constantly track assortments and how they are performing on a weekly basis. The optimal price points and any discounting which competition is engaging in needs to be quickly be brought to attention. There are tools for pricing like Wiser. For assortment tracking in the fashion domain, there are tools like Omnilytics that are available. For multiple categories within the amazon universe, there are tools like Feedvisor, Data Hawk available. DeepFlux Fashion AI solution provides these reports on a weekly basis for identified brands, marketplaces, and competition sets. It also is unique in identifying the estimated sales index for individual SKUs. This is a feature that has proved to be a game-changer (and life saver) for numerous e-commerce managers.
Tip #3: Proactively monitor inventory
Inventory levels fluctuate frequently and e-commerce managers need to monitor their inventory risk constantly and order consistently (avoiding pile-up). There are various platforms which provide a real-time view of inventory situation. Some of the tools where this is available are UniCommerce, Shopify, WooCommerce. E-Commerce managers need to constantly monitor this platform. In addition, there is a need to track the Rate of Sales (ROS) of individual components and identify the inventory at risk so that appropriate actions can be taken. This is where a tool like DeepFlux can help with not just inventory at risk but forecasting at the size level.
Tip #4: Granular targeting and promotional strategies
Google and Facebook marketing teams recommend developing granular theme-based campaigns and targeting optimal groups accordingly. For e.g. in the fashion domain, consumers for black sandals are very different from white sneakers. There are self-service campaign management tools available like Kit, Madgicx which partly help setup campaigns in this format. DeepFlux enables this as a part of the initial customization. DeepFlux team works with e-commerce managers to setup nomenclature in such a way that this can be enabled effectively. Repurposing campaigns in this way helps in generating ROI accretive campaigns.
Tip #5: Automated Alerts over Email
There is significant pain associated with e-commerce managers getting bogged down within multiple reports and data. They might miss out on important insights. This is why DeepFlux has created automated campaign intelligence, sales and inventory reports which help e-commerce managers realize the status quo quickly and take action.
E-Commerce managers need to work really hard to ensure they are doing their jobs effectively. Tools like DeepFlux are the suits that these superstars need to become superheroes that they need to transform overnight to create successful businesses. Schedule a demo today by sending a mail at – firstname.lastname@example.org
We recommend reading an excellent article here on tools being leveraged commonly for marketing purpose by e-commerce managers
DeepFlux is a Fashion AI SaaS startup that is helping e-commerce managers improve the productivity of their day-to-day tasks and decision-making.
By This Aviral Mathur