Is the digital shelf real estate infinite? Does it differ from the aisle or shelf of a physical store?
A shelf at a physical store can only be arranged in limited ways, whereas optimizing the digital shelf with the right keyword or monitoring it with efficient third-party analytics solutions presents never-ending possibilities for brands and sellers.
Digital shelf strategies help brands and sellers monitor, analyze, and optimize their multiple product offerings and e-commerce metrics.
But with so many options available in the market, how do brands and sellers choose the best one?
An advanced, brand-friendly digital shelf analytics tool like MetricsCart will help brands create better visibility by offering multiple services, such as MAP monitoring, price tracking, ratings, and review monitoring.
READ MORE | Want to know more about how to improve your business using digital shelf analytics? Check out our blog on Transforming E-Commerce Business with Digital Shelf Analytics.
Key Factors When Selecting a Digital Shelf Analytics Vendor
It’s always advisable to choose a solution that meets immediate business requirements and also supports long-term brand growth.
Factors such as data coverage, ease of use, integration capabilities, and overall cost must be evaluated.
Here are some important points to consider while searching for a digital shelf analytics solution:
Business Requirements
New and experienced brands have multiple requirements, such as improving their e-commerce pricing strategies, automating review monitoring, real-time MAP violation alerts, etc.
Understanding these criteria will help identify the core features that are required from a digital shelf analytics platform.
For instance, if a digitally native brand is currently selling 2000 units on Amazon and plans to increase sales to 10,000 units by next year, the brand has to make changes in its content compliance, MAP monitoring, review management, etc.
Cost Structure
While it’s important to stay within budget, the cheapest option isn’t always the best. Every brand should choose an analytics solution based on its SKU levels and multi-channel presence, whether it’s a small, midsize, or large-scale e-commerce business.
Also consider the total value the platform provides, including data accuracy, ease of use, customer support, and ROI potential.
MetricsCart offers customizable pricing options so that brands can avail services at prices that are tailored to their above mentioned requirements.
Evaluate Data Coverage and Depth
A vendor’s rich data coverage can help scale the e-commerce strategy.
Look for a platform that provides:
- Comprehensive Data
- Data from multiple online platforms
- Category-Wide Insights
- Real-Time Data
MetricsCart’s e-commerce product review analysis platform equips brands with data-centric insights into product reviews on major platforms like Amazon, Walmart, Target, and other e-commerce retailers.
Ease of Use and Implementation
he most powerful analytics platform is useless if the brand management can’t easily use it. The best digital shelf analytics vendors design their platforms with frontline sales, marketing, brand managers, digitally native brand founders, e-commerce insight websites, etc. in mind and not just data scientists.
Consider the following:
- User-Friendly Interface
- Quick Implementation
- Training and Support
MetricsCart makes sure that its digital shelf analytics platform is designed for both experienced and challenger brands that wants to create a lasting impact in product visibility and optimization.
Seamless Integration Capabilities
The digital shelf analytics platform should seamlessly integrate with the existing tech stack, including e-commerce platforms, CRM systems, and marketing automation tools.
This integration is critical for ensuring data consistency and enabling teams to take action based on the insights provided.
When evaluating vendors, ask about API access and data exporting capabilities.
Analyze the Reporting and Actionability
Data without actionable insights is just noise. The best digital shelf analytics platforms not only provide data but also help brands understand what actions to take based on that data.
Look for features such as:
- Customizable Dashboards
- Automated Alerts
- Actionable Insights
Vendor’s Domain Expertise
It is crucial to choose a vendor with deep knowledge of digital shelves and their allied KPIs. They should understand the market’s unique challenges and have a track record of helping similar businesses make prompt decisions.
Ask for case studies or references from companies in the industry to gauge the vendor’s expertise. This will also ensure that the digital shelf analytics solution has implemented ideal practices and contextual rules within its app.
MetricsCart offers experienced e-commerce and data experts at your disposal so that brand requirements are fulfilled with utmost care and professionalism.
Scalability and Flexibility
As the business grows, digital shelf analytics needs will also evolve. Choose a vendor that offers scalability and flexibility.
Whether the brand is expanding into new markets or adding more products to the portfolio, the platform should grow with it and offer contextual insights.
DSA specialists like MetricsCart are tailor-made to handle increasing data volumes and more complex analyses as brand needs become more complicated.
Competitor Monitoring Features
Choose digital shelf analytics vendor that offers robust competitor monitoring features. These features include real-time tracking of competitor pricing, promotions, product content, and stock availability.
Understanding what competitors are doing allows brands to react quickly and adjust their pricing and sales strategy accordingly.
MetricsCart offers up-to-date competitor price monitoring capabilities that help brands align product prices with healthy market competition.
READ MORE | Need help finding the best digital shelf analytics solutions? Read our blog on the 10 Best Digital Shelf Analytics Software in 2024.
Conclusion
Choosing the best digital shelf analytics vendor in 2024 is a critical decision that can significantly impact your e-commerce success.
By carefully evaluating business needs, data coverage, ease of use, integration capabilities, and potential ROI, you can make an informed choice that will drive growth and improve margins.
If you’re looking for an advanced yet easy-to-use digital shelf analytics solution, consider MetricsCart.
With features like:
- Real-time Data Integration
- Competitor Monitoring
- Thematic Analysis
- Customizable Dashboards
- Actionable Insights
MetricsCart digital shelf analytics empowers brands to enhance their digital shelf performance.
Contact us today, and we will ensure your digital shelf is optimized for a competitive e-commerce landscape.
