FlipScore – Measuring the health of your brand at every stage of the shopping journey to make the most of your campaign
22 November 2018
While it’s a known fact that E-Commerce companies have already leveraged customer data to map a customer’s journey from the homepage to drop-off, questions regarding how a brand is perceived by a potential customer remains unanswered.
The brand needs to know a few key facts
How it fares against its counterparts in a particular category in the online commerce space.
Which part of the consumer shopping funnel, from ‘awareness’ to ‘purchase’, is its weakest area and therefore needs working on.
Whether it stands out in the industry in delivering a better customer experience.
FlipScore, takes on the above-mentioned challenges head-on by creating a reporting Index that tracks consumer behaviour as they go through their shopping journey. The actions taken by a shopper are bucketed on the basis of distinct trackable stages in the the step-by-step process leading to a purchase.
While no other system of measurement provides a full-fledged comparison model against other brands, FlipScore allows brands to compare their performances against competitors across categories and in different audience segments in the E-commerce space. Furthermore, the tool will be able to track the impact of any offline or online activity on a brand’s numbers.
The Shopper’s Journey – Deconstructed
On Flipkart, the shopping journey is divided into three distinct stages. “Awareness”, “Consideration”, and “Purchase”. Tracking shopper actions across these stages gives an indication of a brand’s health on the platform.
By deriving insights from the FlipScore’s readings of the stages of the shopper journey, brands can implement strategies to better their standing.
This part of the funnel shows where a brand’s recognition and customer memory recall ranks as compared to others on the portal. ‘Awareness’ is defined as the number of users who were aware of the brand even before they launched the app, or were made aware of the brand on Flipkart. If a customer types in a brand’s name from memory due to proper ad placements on the E-Commerce platform, it means that they have shown initial interest in the brand and are aware of its existence and product offerings. Marketing strategies around brand-building start with increasing the rank in ‘Awareness’ segment so that they begin gaining the relative trust of their core customers.
‘Consideration’ is when potential customers begin seeing value in your ads and consider making a purchase. They could put your product on their wishlist or ‘add to cart’ which means they’re just a step away from making a purchase.
‘Consideration’ is defined as the number of users who considered buying your brand’s product when given a choice of other competitor brands in that category. Product page views with some actions such as, Add to cart, Add to wishlist, Share, Time Spent on Brand Store, Engagement on Brand Store count as Consideration.
‘Consideration’ is a significant part of the funnel and by making use of Flipkart Ad’s targeted marketing campaigns on the E-Commerce portal, brands can witness a favourable movement along the lines of their ‘consideration’ index. By way of Flipkart Shopper Audience (FSA), the brands can also reach out to their target consumers outside of Flipkart and bring them back to increase the chances of transacting.
‘Purchase’ segment determines your brand’s ability to entice customers to make a purchase. This is the most critical part of the funnel for any brand that wants to grow their business on Flipkart. It also validates the spendings on E-Commerce ads and helps you understand and justify those spendings on the basis of your results in this segment.
Flipkart Ads provides all the necessary metrics on a week-on-week or monthly basis via a live dashboard with all the data present on it.
Making sense of the numbers
By plotting the data over time, amongst the competition, and against an industry average – Flipscore allows brands to compare their performances with competitors across categories and in different audience segments in the online commerce space. Furthermore, they will be able to track the impact of any offline or online activity on a brand’s numbers. Insights drawn from this data will allow brands to intervene at any stage in the shopping journey to improve their performance on the platform.
There are a host of other features that are present on the FlipScore that can help marketers make their E-Commerce ad strategies better.
For a multi category brand, a marketer can analyse performance by specific product lines. They can also ascertain the relative performance of all the categories within which they operate.
Brands can compare themselves across their competition operating in the same category.
Measurement index for brands to compare themselves in different audience segments – currently split by gender and across locations.
FlipScore gives more power to brands by strengthening their understanding of how customers perceive them vis-à-vis other brands in the same category. It provides quantifiable data and actionable insights in terms of their engagement with users. Not only does it let brands understand their position with respect to various competitors and segments they operate in, it also serves them the opportunity to tweak their marketing strategy to better realise or actualise the end goal that is increasing sales on Flipkart.
If you would like access to FlipScore, click here to contact us.