It’s easy to lose control of your brand on ecommerce. Unauthorized sellers can undercut your pricing, making it difficult for authorized distributors following the rules to move product. Those distributors may come to you asking for recourse to fix it, and you may not even be entirely sure where the pricing issues are coming from or how to stop them.
Regaining control over your brand on ecommerce when you’re in scenarios like this can feel overwhelming, especially when you aren’t equipped with proper tools. According to Pattern’s Chief Technology Officer Jason Wells, the old way of doing things was for brands to pay people to look at prices and manually compile data, a process that took a lot of financial resources and time. Now, however, more and more brands are turning to technological innovation to do the work for them, and they’re finding more success doing it.
Technology can be used to analyze and then compile multi-channel data quickly and efficiently so its usefulness is maximized for brands looking to regain brand control. With technology, brands get a complete picture of the ecommerce landscape, including where price erosion is happening and what they can do about it.
According to Wells, the right technology can get a brand’s eyes on “hundreds and hundreds of items” going out their distributors’ doors. Ultimately, it can give brands better control of the customer experience without them having to spend needless time and effort to do it.
Predict is a multi-channel ecommerce software that monitors over 400,000 products every day across 525 of the most popular ecommerce sites, showing brands the potential risks and opportunities they have across the market.
Unlike other software, Predict gives brands expansive and actionable looks at where they’re losing control of their brand on Amazon and other marketplaces, in addition to data about ad spending, reviews, keywords, and more.
With Predict, brands can know exactly who’s violating their MAP policies on which marketplace and what their compliance looks like across the board in real time, as well as how much they’re losing on ecommerce sites. Predict looks at the compliance of each unit going out the door, not just a small sample, so brands can be fully in the know.
One thing Predict does that other software doesn’t is to prioritize the seller moving the most units.
“You could have a seller with 40 non-compliant listings and another with two non-compliant listings,” Wells said. “Any trackers would prioritize or put the seller with 40 at the top of the list. But with Predict and our Buy Box and volume tracking, we can see that the seller with 40 listings is only selling 10 units a month and the seller with two listings is selling 1000 units a month. As a brand, you really want to prioritize the seller with more units.”
In addition to compliance data, Predict shows brands who they may be losing the Buy Box to, which products are being suppressed, and how much loss of the Buy Box and suppression are costing them. Predict can also help brands analyze how competitive each of their products are on the marketplace. This data helps brands do fine-grained first-mover tracking to see who is lowering prices first.
In addition to providing data that can help brands regain brand control, Predict centralizes data like ad spending, keyword effectiveness, and reviews. Brands can use this software to see where their ad spending budgets are going as well as which sales can be attributed to their advertising. They can see which products are getting what ratings on sites like Amazon, receive data to compare customer service response times across channels, and learn which ad keywords are giving them the best returns.
Wells calls it a “super powerful data set” that gives brands a gateway into an entirely different way of controlling their brand on ecommerce markets.
While controlling your brand’s presence can seem like a daunting task, technological innovation is arming brands with the data and the resources to come out on top.
To learn more about Predict and request a product demo for your brand, contact us below.
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Entering the ecommerce landscape is a huge undertaking for any brand—it usually requires a large investment in resources and expertise to really be successful. Any brand can quickly get in over their heads trying to navigate the nuances of SEO, fulfillment and logistics, distribution control, listing optimization, and meeting the numerous other requirements and administrative tasks to show up well on marketplaces.
Unfortunately, because it’s so easy for third party, gray market, and unauthorized sellers to obtain and sell products online, many brands find themselves pressured to execute an ecommerce plan without the right resources to succeed on marketplaces and their other channels.
So, for brands looking to enter the ecommerce space or improve their current and future performance, it makes sense to partner with an ecommerce consultant.
Pattern’s global presence and proven success with hundreds of brands has allowed us to develop highly effective ecommerce consulting services. We can guide your brand to navigate issues both large and small in marketplaces worldwide. To maximize your ecommerce efforts, you’ll need to understand what an ecommerce consultant does and how to select one who drives the right value for your brand and products.
An ecommerce consultant is a specialist in the ecommerce space who can give you personalized guidance on how to market your products and grow their presence on digital marketplaces.
An ecommerce consultant should be able to analyze your brand, audience, category, opportunity, and current roadblocks and help you understand how to utilize your resources (or what resources are missing) to be most effective in capturing your opportunities in the ecommerce space.
Not sure how to evaluate a consultant? Here are 4 key attributes to look for as you make your choice.
At Pattern, we prioritize brand obsession for a reason—we know that a brand-centered mindset makes a crucial difference in the outcomes and results our partners achieve. So in our experience, when you begin your search for an ecommerce consultant, it’s important to look for a partner who is specialized in ecommerce, invested in the product, and passionate about helping brands build and improve their strategies. Typically, this means finding someone that consults exclusively for ecommerce marketplaces, rather than choosing a consultant who offers many different services.
It’s also important to avoid choosing a consulting partner who can’t deliver the right experience for your brand. The best indication of whether your potential consultant can do that is to review their history, data, and results with other brands. Ask if they’ve helped others in your selling category, if they’ve solved specific issues your brand is facing, and why they feel you are a good fit. The key is to leave the conversation feeling confident that you understand your consultants’ capabilities and whether or not they match up with your needs.
It’s best to pick a consultant who knows how to guide a brand onto and through multiple marketplaces worldwide. You’ll want to take a look at your long-term strategy and think about the regions and platforms you’re currently on and where you might want to take your brand in the future. If your consultant is truly great at what they do, they’ll be able to help you perform well enough with your current product roadmap that it’ll be a no-brainer to expand your presence at the right time.
The most effective partnership with an ecommerce consultant will be able to give you both recommendations and point you to solutions for making those changes in your planning, processes, and execution. Your time and money is valuable, so you want to make sure that you’re spending it as efficiently as possible as you follow your consultant’s advice. So, before you commit to an ecommerce consultant, ask about the resources and concrete solutions they typically recommend to the brands they work with.
Finding an ecommerce consultant that checks the boxes can be a difficult task. At Pattern, our entire focus and drive centers around giving brands the tools and resources they need to succeed on domestic and international ecommerce marketplaces.
With over 100 global ecommerce consultants across 10 global offices, we have the right tools to partner with brands across the world to achieve better ecommerce success. We give specialized advice, then make sure our partners have all the adequate SEO, social media, CRM, Amazon multi-channel fulfillment services, and ecommerce outsourcing services they need.
Interested in ecommerce consulting services? Set up a call here to learn what Pattern can do for your brand on global marketplaces.