Offer targeting: how to boost product feed conversion rate?
To ensure that sales numbers go up, many online stores decide to include more new products in their offer. These aren’t necessarily products from the same category that’s been featured so far. Brand new items are often introduced to the offer, in the hope that the rich variety will provide a steady stream of consumers interested in making a purchase.
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While such a strategy usually works well for the store’s main website, in other promotional channels, especially those using product feed, conversion rate will not necessarily become higher.
Offer fragmentation as a means of achieving higher conversion rate
Price comparison engines or Google Shopping feature an extensive category tree where we can include almost all products we sell. By applying the advice presented in previous articles, we can also prepare the product feed itself to achieve the highest sales possible.However, in a situation where we want to reach a really high conversion rate, it’s worth it to think about presenting the offer to relevant, better targeted groups of customers in specific online locations. These include:– Themed online marketplaces: they allow us to present specific product categories (e.g., furniture, clothes, electronic equipment);– Themed websites or blogs run by enthusiasts: they feature more precisely defined themes (often dealing with only a small part of a given subject matter) and use affiliate programs in which the operator allows the use of product feed to promote stores' offers.
How to go about creating a targeted product feed?
Think about where you want to present your offer: select themed websites and affiliation networks most relevant to your products.Check the user characteristics of the website you're interested in to adjust the product offer even more accurately: if it's popular with bargain hunters, you should prepare an offer containing the best product discounts; if the website is positioned as a trend-setting page, you’ll achieve the best conversion rate through brand new products; if it's focused on building a community, the products that are most popular among a given community’s members will become bestselling items.Prepare product feed files according to guidelines: each affiliate network and online marketplace has their own requirements for the creation of product feed. We recommend that you read the specification carefully to make sure that your products will be displayed without any errors. Of course, it’s recommended to prepare the files using relevant keywords adjusted to the website where we will eventually promote our products, as suggested in the previous paragraph. This way, we’ll focus the attention of customers on presented products even more efficiently.
Why can offer targeting bring tangible results?
“B(v)log Power”, a study carried out in April 2015 at the request of the Polish Association of Bloggers and Vloggers shows that currently approx. 72% of blog readers take bloggers’ advice into consideration when selecting products (in the case of price comparison engines, this number amounts to 48%). When it comes to purchase decisions, after reading a blogger's opinion on a given product 33% of his or her readers are eager to buy it.
This means that small sites and specialized blogs are becoming increasingly involved in generating purchase decisions of Internet users. It would therefore be a serious oversight not to take advantage of the opportunities provided by targeted offers presented in the abovementioned online locations. A product well-matched to an appropriate target group is able to push the conversion rate to a high level, which generally translates to even higher earnings from sales.
What is Feedink?
Feedink is a product feed management tool. It imports your store's offer, lets you improve it with rules and sends up-to-date feeds to Google Shopping, Meta, price comparison sites and marketplaces.
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