Table of Contents
Introduction
Whenever we buy something, we try our best to get great deals and discounts from our vendors, and so do our customers. Promotions always increase the chance of driving sales. If we think from a customer’s perspective, they are more likely to buy the products when they get lucrative deals. Have you ever received a promotional message about the products in your carts providing you with a 10% or 15% discount on the bill, and you end up buying the products? This created a win-win situation for both the customer and the brand. The consumer got the product at an affordable price, and the brand prevented cart abandonment and redirected the customer to complete the purchase.Â
Promotions bring stability to the business and help you achieve greater targets. Creating the right promotion strategies could take time, but you don’t have to worry about formulating one; we have your back. There is a lot that goes into running an effective business; it not only requires mere stocking up and listing the products across channels or platforms, but it is also much more than that. From researching the right keyword to drafting A+ content and formulating effective eCommerce promotion strategies to running A/B tests before making the campaigns go live along with promotional offers and discounts. In this competitive market, you need to constantly improve your business and keep up with the fast-changing trends to develop a better plan.
How about we tell you we have a one-stop solution that meets all the parameters? With our promotion management software, brands can see everything about their prices and how they compare to the competition. The software helps the brand come up with strategic promotional offers, discounts, and deals to boost sales, prices, and return on ad spend (ROAS). Businesses need to have agile techniques and to help you with this, we’ve got you covered. Our team of experts comes with vast experience across brands, markets, and platforms to ensure that your brand has all the tools it needs to remain ahead of the curve. Â
The Benefits of ecommerce Promotion Management Software
Speaking of the benefits of having eCommerce promotion management software, the global eCommerce user penetration rate is expected to reach 63.1% by 2025. The growth of the eCommerce industry over the years has been explosive. If you want to stay ahead of the competition, it is high time to start streamlining your operation, it will give you the flexibility to focus on core tasks. The promotion management software has the capability to handle related tasks and can also be integrated with eCommerce platforms. From pricing, promotions, stock visibility, and availability to rating and reviews, and even advertising, this SaaS-based software can handle daily tasks across multiple eCommerce platforms. It allows you to generate customized reports to better understand and implement strategies. Let us have a look at the advantages of promotion management software.Â
- Time and cost savings – Time is Money, and we often go through this phase where we understand and try to dig into ways to automate tasks. There are several tools that are available for free and are easy to implement.
- Increased efficiency and accuracy – The software helps in bringing more efficiency as it helps you target consumers across multiple zip codes. This leads to increased visibility of the brand to different people across the targeted locations. More visibility results in more sales and brand recognition.Â
Frequent data analysis
- Improved customer satisfaction and data analysis – Promotion tools offer you an accurate analysis of your customers. You can draw numerous conclusions that might be beneficial to the business. The more data-driven your recommendations will be, the more customers will get associated with the brand. Expanding customer base is one thing and retaining customers is the other, it is important to ensure the post-purchase queries regarding exchanges and returns are fulfilled. These help the brand maintain a loyal image and increase word-of-mouth promotion chances.Â
Key Features of E-commerce Promotion Management SoftwareÂ
Do you want to streamline your daily promotional tasks and get done with the constant worries of running promotional discounts now and then? Do you want to target a larger market segment both online and offline?Â
Do you want your audience to be able to make good decisions? Do you want to show that your products work well across categories and for people of all ages? Everyone wants their brand to grow strategically rather than indecisively and quickly, as it helps in the long run.
Promotions Management
For the brand to reach its goals, your business needs to be supported by robust promotional software. The eCommerce promotion engine comes with high-tech features that give you a wide range of tools and offers for promoting your business. Through the gathered data, the software is able to create quick-witted promotional offers and steal deals. Take a look at some of the listed features belowÂ
- Targeted promotions and segmentationÂ
The promotion has the capability to make or break your strategies. The promotions can be scaled as per your requirements, as the software allows you to segment and target a specific audience. Targeted promotions also help with A/B testing, as they allow you to target the same product to a different audience at different prices. Product and customer-centric promotions help the brand approach consumers both on a b2b and b2c level. For example, you can group your best-selling and least-selling products together at a reasonable price to encourage people to buy them. Customized offers for the highest spenders help increase brand loyalty and referrals as well as customer retention.Â
- Promotion tracking and reporting
As much as it is essential to focus on the promotional angle, it is equally important to emphasize the strategy, tracking, and reporting side of it as well. The software helps manage and automate promotion across platforms through big data and analytics. You can check how well a particular campaign is performing across different channels and download customized reports for the same. Consistent tracking will help you draft a well-suited promotion strategy. Â
- Integration with other e-commerce platforms and tools
The software allows you to integrate with multiple platforms and third-party services. The integration will result in the brand having all the data in a central location, leading to increased productivity and profitability. With over 150 eCommerce platforms integrated across thousands of zip codes, this channel intelligence tool continues to break down the heavy data into a readable and easy-to-understand format for enhanced decision-making.Â
- Product and Consumer BehaviourÂ
Our tool’s ability to keenly observe, track, and analyze product and consumer behaviour across the platforms where the promotion is being run makes it unique. The data is then made available to the brand in a readable format to help you understand the preferences of the customers and draft an effective promotion strategy accordingly.Â
- Track the Planned offer vs Live OfferÂ
The software is cost-effective and saves you time. Let us show you how. The tool is vigilant enough that it keeps a check on the offers being run across the platforms and reports, if there is any discrepancy between the offers that are live and being used across the channels and the originally planned ones. In case of any variation, the software reports directly to the brand for them to raise a reimbursement with the channel.Â
Do you want to stay ahead of the competition, and are you looking for a one-stop solution? Paxcom’s channel intelligence software helps you break into the market through accurate analysis and real-time reporting. Not only will it help you meet your customers’ expectations, but it will also give you the latest trends, insights, and hidden market patterns for a game-changing move. Promotions are important, but for them to work well, it’s important to keep the products easy to find in all relevant categories and channels. It is also advisable to have enough stock of the promoted product to avoid out-of-stock situations. The software lets you keep track of SKUs, makes custom reports, and always reminds you to restock so you don’t lose sales.
It gets difficult to find the loopholes, and overlooking the inconsistencies with pricing, discount plans, lack of experiments, and not keeping up with the competition hampers the brand’s image. The tool takes a considerable amount of action and keeps track of all the metrics in real-time, allowing you to be competitive and hold on to promotion opportunities as soon as they emerge. In the ever-changing world of eCommerce, a brand needs to keep an eye on how much its products cost on different online channels. Our channel intelligence Comparing prices and promotions across competitors, platforms, sellers, and time periods, as well as keeping track of price violations by unauthorized sellers, will help you find trends and improve your strategy.
Concluding ThoughtsÂ
Promotions often contribute to sales revenue. If strategized thoroughly and incorporated wisely, it could help you hit a large chunk of audiences with decent margins. Who says running an offer or promotion means you will have to cut down on your margins? Let us debunk this myth for you. You can still hold onto profits while offering lucrative promotions. Our intelligence tool keeps track of promotions across competition, platforms, and sellers and identifies trends to inform your strategy. It also identifies unauthorized sellers and conducts audits against them as well. Â
To list the benefits of eCommerce promotion management software, it is safe to say that the tool ensures an elevated customer experience and satisfaction by offering you the right set of pricing and promotion strategies beneficial for the business.Â
In this ever-advancing eCommerce world, to stay competitive and ensure the brand’s relevance, it becomes crucial to stay aligned and updated. Have a look at what our clients say about their personal experience with our channel intelligence software.Â
Client TestimonialsWe have experts in e-commerce, development, business, marketing, and more on our team to manage and meet all of your needs. Collaborate with us and let us help you make your e-commerce business successful. Contact us at info@paxcom.net to find out how we can help you scale your business. Book a demo by filling out the form and mentioning your questions, and we will get back to you at the earliest possible time.
