In the current digital age, eCommerce has become a cornerstone of modern business. Every day, millions of people purchase goods and services online, making it an essential avenue for businesses looking to increase their revenue. However, with the growing competition in the industry, it can be challenging to stay ahead of the curve. That’s where data analytics comes in. By leveraging data analytics, you can gain valuable insights into your customers’ behaviors and preferences, allowing you to optimize your eCommerce strategies to drive revenue growth. In this comprehensive guide, we will show you how to use data analytics to increase your eCommerce revenue.

Understanding Data Analytics

Data analytics refers to the process of collecting, analyzing, and interpreting data to gain insights and make informed decisions. In eCommerce, data analytics can help you understand your customers better and optimize your business processes. The process typically involves the following steps:

Data Collection: This involves collecting data from various sources, including sales data, customer information, website analytics, social media data, and more.

Data Analysis: Once the data is collected, you can use various analytical tools to analyze and interpret the data.

Data Visualization: After analyzing the data, it’s important to present it in a clear and concise manner. This can be done using data visualization tools like graphs, charts, and tables.

Using Data Analytics to Increase eCommerce Revenue

Now that you understand the basics of data analytics let’s look at how you can use it to increase your eCommerce revenue.

Understanding Your Customer’s Journey

The customer journey refers to the series of steps that a customer takes when making a purchase from your eCommerce store. By analyzing the customer journey, you can identify pain points, optimize the customer experience, and increase revenue. Some of the key metrics to track include:

Bounce Rate: This refers to the percentage of visitors who leave your website without making a purchase. A high bounce rate could indicate issues with your website’s user experience.

Cart Abandonment Rate: This refers to the percentage of customers who add items to their cart but don’t complete the purchase. By analyzing the cart abandonment rate, you can identify issues with your checkout process.

Conversion Rate: This refers to the percentage of visitors who complete a purchase. By optimizing the customer journey, you can increase your conversion rate, and ultimately drive revenue growth.

Personalization

Personalization involves tailoring the customer experience to meet individual customer’s needs and preferences. By analyzing customer data, you can identify patterns in their behavior and personalize their experience accordingly. Some of the key ways to personalize the customer experience include:

Product Recommendations: By analyzing a customer’s purchase history, you can recommend products that they are likely to be interested in.

Personalized Emails: By segmenting your email list and sending personalized emails, you can increase engagement and drive revenue growth.

Customized Landing Pages: By creating customized landing pages, you can provide a personalized experience that is tailored to the customer’s needs.

Optimization

Optimization involves making small changes to your eCommerce store to improve its performance. By analyzing data and testing various strategies, you can optimize your store for maximum revenue growth. Some of the key optimization strategies include:

A/B Testing: This involves testing two versions of a web page to see which one performs better. By analyzing the results, you can optimize your web pages for maximum revenue growth.

Page Load Speed: Slow page load speeds can lead to higher bounce rates and lower conversion rates. By optimizing your website’s load speed, you can improve the user experience and drive revenue growth.

Mobile Optimization: With the increasing use of mobile devices for eCommerce, it’s essential to ensure that your website is optimized for mobile. By providing a seamless mobile experience, you can increase engagement and drive revenue growth.

Inventory Management

Inventory management is an essential aspect of eCommerce. By analyzing inventory data, you can ensure that you have the right products in stock to meet customer demand. Some of the key metrics to track include:

Stock Levels: By analyzing stock levels, you can ensure that you have enough inventory to meet customer demand.

Sales Trends: By analyzing sales trends, you can predict future demand and adjust your inventory accordingly.

Product Performance: By analyzing product performance, you can identify which products are popular and adjust your inventory accordingly.

Pricing Strategy

Pricing is a critical aspect of eCommerce. By analyzing pricing data, you can optimize your pricing strategy to maximize revenue growth. Some of the key metrics to track include:

Competitor Pricing: By analyzing competitor pricing, you can adjust your prices to remain competitive.

Sales Data: By analyzing sales data, you can identify pricing trends and adjust your pricing strategy accordingly.

Customer Segmentation: By segmenting your customers and analyzing their behavior, you can adjust your pricing strategy to meet their needs and preferences.

Best Practices for Implementing Data Analytics in eCommerce

Now that we have discussed the basics of data analytics and the tools you can use to implement it in your eCommerce store, let’s take a look at some best practices for implementing data analytics effectively:

Set Clear Goals

Before implementing data analytics, it’s essential to set clear goals for what you want to achieve. Whether it’s increasing revenue, improving the customer experience, or optimizing your marketing strategies, having clear goals in mind will help you stay focused and make informed decisions.

Identify Key Metrics

Once you have set clear goals, it’s important to identify the key metrics that you will track to measure progress towards those goals. Some common metrics to track in eCommerce include bounce rate, conversion rate, cart abandonment rate, and more.

Use Multiple Data Sources

To get a comprehensive understanding of your eCommerce performance, it’s essential to use multiple data sources. This includes website analytics, sales data, customer data, social media data, and more. By combining data from multiple sources, you can gain a holistic view of your eCommerce performance and make informed decisions.

Make Data-Driven Decisions

One of the most significant benefits of data analytics is that it allows you to make informed decisions based on real data. Rather than relying on intuition or guesswork, use data to guide your decision-making process and optimize your eCommerce strategies for maximum revenue growth.

How Cluster Can Help

Our mission is to drive eCommerce success through the most accurate and complete product catalog data in the world. Cluster brings together the most granular, cross-channel eCommerce catalog data supported by individual product-level sales estimates, so marketplaces and online brands can create the best buying experience for their shoppers. Book a demo now.

One of the most important keys to succeeding in online retail is to know your audience. Today’s buyers – mainly Millennials and Gen Zs – have a pretty short attention span. If they can’t find the product they are seeking on your website within seconds, they will quickly move on to a different website. You need to capture your browser’s attention immediately and lead them to the exact product they are seeking as quickly as possible.

How can you enhance your product catalog data?

1. Study your audiences and their locations

Your catalog’s data should be suitable for all your sales channels and worded attractively to engage your target audiences. Start by defining your potential customers. Once you have done so, adjust your content, style and graphic presentation to suit their tastes. Where do they spend their time? On the Internet or perhaps on a form of social media? Attract their interest wherever they are located with marketing campaigns and Facebook ads.   

2. Provide detailed and consistent data

Most online purchasing is based on comparisons. Buyers compare products and prices before deciding where to make their purchase. Potential customers dislike comparing “apples to oranges”. In order to make accurate comparisons of the same products, buyers need to be able to view easily available, consistent and detailed product data.

3. Use product tagging

Make searches simple on your website by using product tagging. When you assign keywords to products, the system automatically brings up viable associated options that can help facilitate sales. By making all your products easily findable, you provide a productive and smooth customer journey.

4. Keep SEO and customer logic in mind

Your catalog’s structure must be adapted to your target audience’s search habits. In other words, think like your customer. Go from the broadest level to the narrowest one, but keep your main potential buyer in mind. For example, if you sell running shoes for athletes, you might start at “shoes”, move on to “athletic or sports shoes” and then narrow down to “running shoes.” The structure and related keywords should reflect the way your customers go about their search.

5. Automate inventory and product updates

Consider the following scenario: A potential buyer has conducted a search on your website and found the product he or she is seeking, only to discover that it is no longer available. The consumer will leave your website, most probably never to return. In order to offer an updated online catalog, you must dynamically refresh product data and inventory modifications. An automated AI-based catalog system prevents human error and updates data constantly.

6. Use creative design to snag buyers

While engaging copy and updated data are crucial, product presentation is no less important. Exciting design can greatly enhance your catalog’s data. Videos, product demos, interactive lookbooks and 3D simulations are likely to leave a memorable impression, and bring customers back for more.

Interested in learning more about how you can enhance your product catalog data? Click here.

Establishing a successful marketplace model can be challenging. You will obviously need to generate buyer interest in your platform, but a successful marketplace platform also necessitates interconnection between your vendors and users, as well as engagement with the products and content presented within.

Your marketplace’s operation is dependent on a growing user base and a continuously updated catalog. A thriving platform relies on well-designed online marketplace architecture. Actionable data is key to your architecture’s effectiveness. 

How rich catalog data boosts the success of your marketplace architecture: 

Real-time data to enable growth

For an online marketplace framework to succeed, it must possess the ability to onboard vendors and products continuously while maintaining accuracy and customer trust. You need to provide consistent and complete data about products sold by each of your vendors, even though they fluctuate regularly.

How to go about it: 

AI-based marketplace APIs enable you to acquire complete product intelligence on each and every item in real-time. In addition, a Product Identification API gathers a list of products that match a search term, allowing grouping of identical and similar items as well as sorting by demand.    

Prevent mismatching and disgruntled customers

Sometimes different vendors provide incomplete data about their items, leading to customer frustration and abandonment. It is crucial to provide all of the most relevant product information consistently in order to enable accurate product identification and easy comparisons.

How to go about it:

Neural network modelling automatically captures both similarities and differences, enabling effective e commerce marketplace management. Regardless of the type of data provided by the vendor, you are able to feature a complete set of information about each product, boosting sales and customer loyalty.

Ensure prices are within range

At times, vendors set product prices outside of the current price range. This kind of overpricing must be avoided as it can put off customers permanently. However, keeping up with fluctuating prices is a difficult task considering the huge inventories handled by marketplaces.  

How to go about it:

Smart outlier detection techniques enable the identification of vendor set prices that are outside the current range. Using AI-based price modelling tools, automated pricing can be applied to products as they are being uploaded by vendors. 

Display products based on demand

Sometimes, the customer may not have the precise name of the product they are looking for. As a result, they may just search for the name of the brand rather than the exact item they want. In order to boost sales and increase customer satisfaction, items in demand must be displayed prominently on the product page. But how can you tell which products are most relevant at any given time?

How to go about it: 

Using specific search criteria, machine learning algorithms enable the ongoing ranking of products based on demand and attractiveness. The items that have the greatest appeal for the buyer will be displayed prominently based on a confidence score. According to research, accurate product assortment leads to a 5% increase in the add-to-cart ratio.   

To learn about additional ways extensive catalog data can enhance your online marketplace architecture, schedule a demo now.  

We understand the importance of Amazon ASIN numbers and how they can impact your success as a seller. In this comprehensive guide, we will discuss everything you need to know about ASIN numbers, including how to get them and why they matter.

What is an ASIN?

Amazon Standard Identification Number, or ASIN, is a unique identifier assigned to each product in the Amazon marketplace. It is a 10-character alphanumeric code that is used to identify and track products on the platform. Each product listed on Amazon has its own unique ASIN. This helps Amazon manage product data and ensure that each product is correctly identified, sorted, and displayed in the right categories and search results.

When a seller lists a product on Amazon, they either match it to an existing product detail page or create a new product detail page. If the product already exists in the catalog, the seller will use the existing ASIN. If not, Amazon will assign a new ASIN to the product. ASINs are used by Amazon to organize and classify products in their catalog, and they play an important role in the search and discovery of products on the Amazon platform.

How to Find Your ASIN

To find the ASIN for a product on Amazon, simply navigate to the product detail page and look for the 10-character alphanumeric code in the product information section. If you are a seller and want to list a new product on Amazon, you will need to create a new product detail page and Amazon will assign a new ASIN to the product.

If you are selling a product that is already listed on Amazon, you can simply search for the product on Amazon and locate its ASIN number on the product detail page. However, if you are selling a new product that is not yet listed on Amazon, you will need to create a new listing and obtain a new ASIN product ID.

To create a new listing, you will need to follow these steps:

1. Log in to your Amazon Seller Central account and navigate to the “Inventory” tab.
2. Click on “Add a Product” and search for your product in the Amazon catalog.
3. If your product is not found, click on “Create a new product listing.”
4. Follow the prompts to enter all of the necessary information about your product, including the product’s title, description, and images.
5. Once your listing is complete, Amazon will automatically generate a new ASIN number for your product.

Why are ASINs important?

ASINs are important for several reasons. They help to streamline product management on Amazon by making it easy to track and manage products across the platform. They also help to improve the user experience by ensuring that products are correctly classified and listed in the right categories, improving search relevance, and enabling easy product comparison.

ASINs are also important for Amazon sellers as they help them manage their product listings, analyze product performance, and optimize their listings for better search visibility. By tracking ASINs, sellers can monitor product performance, identify areas of improvement, and optimize their listings for better search rankings.

How are ASINs assigned?

ASINs are automatically assigned by Amazon when a product is listed on the platform. Amazon uses a sophisticated algorithm to assign ASINs based on product attributes such as title, description, and category. If a product has unique attributes, such as size or color, Amazon will assign a separate ASIN for each variation.

In some cases, sellers may need to request a new ASIN for a product that does not yet have one. This is typically required for products that are not yet listed on Amazon or for products that have unique attributes that are not covered by existing ASINs.

ASINs and SEO

ASINs play an important role in Amazon’s search algorithm, as they help to classify and categorize products based on their attributes. By optimizing product titles, descriptions, and other attributes, sellers can improve the relevance and visibility of their listings in search results. This can lead to increased traffic, sales, and revenue.

However, it’s important to note that ASINs are not a direct ranking factor for Amazon search results. Instead, Amazon uses a complex algorithm that takes into account various factors such as sales history, customer reviews, and product relevance. Therefore, optimizing your ASINs alone is not enough to guarantee high search rankings on Amazon.

Using ASINs effectively

Now that you understand what ASINs are and how they work, it’s important to use them effectively to optimize your Amazon product listings. One important thing to keep in mind is to make sure that your product is properly matched to the correct ASIN in the Amazon catalog. This means ensuring that the product details match the information on the product detail page, including the product title, description, images, and other attributes.

How to Find a Product With ASIN

ASIN lookup on Amazon is easy. Simply go to Amazon’s website and type the ASIN code into the search bar. If the product is available on Amazon, it should appear in the search results. You can also find the ASIN on the product detail page, located in the product information section. ASIN number lookup to search for products on Amazon is an efficient and effective way to find the specific product you are looking for.

There is no official Amazon ASIN database that is publicly available. ASINs are unique identifiers that are assigned by Amazon to products in their catalog, and are subject to change over time as products are added or removed from the catalog.

However, there are several third-party databases and tools that exist which allow you to search for and obtain ASINs for products on Amazon. These databases are created and maintained by companies that collect and organize data about products on Amazon, and can be used to search for specific products or to perform bulk lookups of product identifiers.

How to Perform a Bulk ASIN Lookup

This can be done through various third-party tools and services that allow you to upload a list of product identifiers, such as UPCs or EANs, and receive the corresponding ASINs for those products.

One popular tool for performing a bulk ASIN lookup is the Amazon ASIN Bulk Lookup Tool, which allows you to upload a CSV file containing your product identifiers and receive a file with the corresponding ASINs. There are also many other similar tools and services available online that offer similar functionality.

Performing a bulk ASIN lookup can be a valuable time-saver for sellers who need to list a large number of products on Amazon. By using a bulk lookup tool, sellers can quickly obtain the ASINs for their products and avoid the time-consuming process of manually searching for each product on Amazon.

How Cluster can Help you with ASIN Lookup

Cluster can offer a variety of features beyond simply looking up ASINs, such as product research and analytics, keyword research, and more. We also have the largest structured SKU-level dataset available with over 1B items with full product level attributes (SKU, UPC, EAN, ASIN, GTIN, Color, Dimensions, etc.). Book a demo now!

What is ISBN?

ISBN (International Standard Book Number) is a unique identifier assigned to books, e-books, and other publications. This system was first introduced in 1967 and has since become the global standard for identifying books. In this comprehensive guide, we will provide everything you need to know about ISBN numbers, including their history, how they are assigned, and their importance in the publishing industry.

History of ISBN

The ISBN system was developed by the International Organization for Standardization (ISO) in the late 1960s to address the growing need for a standardized identification system for books. The first ISBN was assigned to a book titled “The Adventures of Tom Sawyer” by Mark Twain in 1967. Since then, the system has been widely adopted and expanded to cover other forms of media.

ISBN Format

An ISBN is a 13-digit number that is divided into four parts, each separated by a hyphen. The first part identifies the language or country of origin, the second part identifies the publisher, the third part identifies the title of the publication, and the fourth part is a check digit that ensures the ISBN is valid.

The ISBN Five Parts

The ISBN (International Standard Book Number) is composed of five parts, which are:

• Prefix Element – This identifies the specific language or geographic location in which the publication was issued. It is represented by either a 978 or 979 prefix.
• Registration Group Element – This identifies the country or group of countries participating in the ISBN system. It is a number between 0 and 9.
• Registrant Element – This identifies the publisher or the individual responsible for publishing or distributing the book.
• Publication Element – This identifies the specific title, edition, and format of the publication.
• Check Digit – This is a single digit at the end of the ISBN that is calculated using a mathematical formula to ensure the accuracy of the other digits in the number.

ISBN-10 vs. ISBN-13

In 2007, the ISBN system was updated to a 13-digit format to accommodate the growing number of publications and the need for more unique identifiers. While the ISBN-10 format is still used in some countries, it is gradually being phased out in favor of the ISBN-13 format, which provides more options for identifying publications.

How to Obtain an ISBN

Obtaining an ISBN is a relatively simple process. In most countries, you can apply for an ISBN through your national ISBN agency. The application process typically involves providing information about your book, such as the title, author, and publisher. Once your application is approved, you will be assigned a unique ISBN that can be used to identify your book in the marketplace.

The Importance of ISBN

ISBNs are essential for the publishing industry as they provide a standard method of identifying books and other publications. They are used by booksellers, libraries, and publishers to track inventory and sales, and they enable readers to easily find and purchase books online and in stores. Additionally, many retailers and online marketplaces require books to have an ISBN in order to be sold.

Who needs an ISBN number?

The use of an ISBN is not mandatory, but it is highly recommended for authors, publishers, and distributors who wish to make their books available to a wider audience.

Here are some of the reasons why an ISBN may be required:

1. Sales: Many booksellers and online retailers require an ISBN in order to sell books. Having an ISBN makes it easier for booksellers to identify, list, and sell books in their inventory.
2. Libraries: Most libraries use ISBNs to catalog and identify books in their collection. Without an ISBN, it may be difficult for a book to be added to a library’s collection.
3. Discoverability: Having an ISBN makes it easier for readers to find and purchase books online and in bookstores. This can increase the visibility of a book and make it more accessible to potential readers.
4. Distribution: Distributors often require an ISBN in order to track inventory and sales of books. Without an ISBN, it may be more difficult to distribute books through various channels.
5. Credibility: Having an ISBN can lend credibility to a book and its author. It shows that the book has been professionally published and is part of the global publishing industry.
6. Copyright: In some countries, having an ISBN is a requirement for copyright registration. This can provide legal protection for authors and publishers, as well as help prevent copyright infringement.
7. International Distribution: If an author or publisher wants to distribute their book internationally, having an ISBN can make the process easier. The ISBN system is used in more than 200 countries, which means that books with an ISBN can be easily identified and sold in multiple markets.

In general, any individual or organization that plans to publish, distribute, or sell books should consider obtaining an ISBN. It is an essential component of the publishing industry that can make it easier to market, distribute, and sell books to a global audience.

The Differences Between an ISBN and a Barcode

While an ISBN (International Standard Book Number) and a barcode may appear similar, they serve different purposes.

An ISBN is a unique identifier used to identify books, e-books, and other publications. It consists of a 13-digit number that is divided into five parts, which provide information about the language or geographic location, country or group of countries participating in the ISBN system, publisher, title, and a check digit to ensure accuracy.

On the other hand, a barcode is a graphical representation of a product’s unique identifier, which can be scanned at the point of sale to identify the product and retrieve its price and other details. Barcodes can be used for a variety of products, not just books.

While an ISBN is not always required, it can be beneficial for authors, publishers, and distributors who want to make their books more discoverable and accessible to potential readers. A barcode, on the other hand, is often required by booksellers and retailers to track inventory and sales of books, as well as facilitate the checkout process at the point of sale.

How do I look up an ISBN number?

An ISBN (International Standard Book Number) lookup can be done through a variety of methods. Here are some of the most common ways to do an ISBN lookup:

• Online Databases: There are several online databases, such as the ISBN Agency or Bowker Books In Print, that allow you to search for books by their ISBN. These databases can provide information about the book’s title, author, publisher, publication date, and other details.
• Library Catalogs: Many libraries use ISBNs to catalog and identify books in their collection. You can search for books using their ISBN in a library’s online catalog or by using the library’s physical card catalog.
• Booksellers: Booksellers, both online and in physical stores, often provide an ISBN lookup feature that allows you to search for books by their ISBN. This can be useful if you are looking to purchase a specific book.
• Smartphone Apps: There are several smartphone apps, such as Book Crawler or ScanLife, that allow you to scan the ISBN barcode on a book and retrieve information about the book.

Is there an ISBN database?

There are several ISBN (International Standard Book Number) databases that are available online. These databases are designed to provide information about books and other publications by lookup by ISBN.

Here are some of the most commonly used ISBN databases:

• International ISBN Agency: The International ISBN Agency maintains a database of all ISBNs assigned to books and other publications. This database can be searched by country, language, or publisher.
• Bowker Books In Print: Bowker Books In Print is a database that provides bibliographic information on over 20 million book titles. It can be searched by author, title, or ISBN.
• Google Books: Google Books is a database of millions of books that have been scanned and digitized. It can be searched by author, title, or ISBN.
• Library of Congress: The Library of Congress maintains a database of books and other publications that have been cataloged by the library. This database can be searched by author, title, or ISBN.
• Open Library: Open Library is a free, open-source database of over 20 million books. It can be searched by author, title, or ISBN.

How Cluster Can Help

Looking up an ISBN can be done through an online ISBN database, barcode scanner app, library catalog, or bookseller. These methods allow you to quickly and easily find information about a book, including its title, author, publisher, and publication date. Cluster can identify products from both structured and unstructured data so customers can enhance their product listings with more attributes and robust data. Book a demo now!