There’s an art to selling online, but at its most basic level, the recipe for success is simple: get your products in front of the right people at the right time. Changing customer behaviours and advancements in technology have led to a rapid rise in online shopping. Yet ecommerce retailers continue to miss out on a huge opportunity in the form of feed marketing. We estimate that there is up to £7.4 billion in ecommerce sales yet to be realised by retailers in the UK.
How can feed marketing help?
There is an extra £5.7bn of revenue available in ecommerce sales, with a further £2.7bn when taking into account offline sales attributed to digital advertising. Feed marketing currently drives around 60% of ecommerce revenue, and our market research suggests that this will increase to 80% by 2021. A well optimised product feed can drive ecommerce revenue. Ensuring your feed is rich with accurate and helpful information is key to accelerating that performance and improving your online sales.
Through our years of experience, we can quantify for every 10% improvement in feed sales, there will be a consequential extra 3% growth in revenue for retailers. Improving your feed and investing in this channel can help get your products in front of your target customers as they’re ready to hit the “buy” button.
Are you making the most of feed marketing? Get a free check
20% of brands are not currently not using feed management solution. That means lots of missed opportunity and revenue. Ecommerce sales are set to rise by almost 25% by 2022, and the growth of feed marketing means this channel is one that cannot be ignored. With the unfairness of some agency pricing models and the complexity of software platforms, shopping feeds are often something that fall by the wayside. But by ignoring feed optimisation and management, retailers risk missing out on revenue and new customer acquisition. Is that something you can afford to do?
To find out how much you’re missing out on, get a free Feed Check from our SaaS feed management solution, Productcaster, and we’ll tell you exactly how to improve the efficiency of your feed to drive better revenue.