As an online retailer, maintaining control of your product display online is no easy task. To ensure that your online platform continues to build revenue and perform effectively, strategic methodology is needed making for the stategic positioning of product across your online portfolio. But how? Newly developed technology called Locayta Balance Factor does just this by employing practical data from your users’ behaviour, as well as strategic influences from yourself to dynamically control your product display. Keep reading to find out how this technology has revolutionised online merchandising for clients including Tesco.com, to boost average order vales and conversion rates.
What is Locayta Balance Factor?
As a key feature of Locayta’s search and merchandising suite, Locayta Balance Factor has been developed by our in house team of programmers on a bespoke basis and is a unique registered technology. The technology serves to ensure that whilst you’re showing your customers the products they most want to see, you’re also showing them the products that you, the retailer, most need to push. In this way Locayta Balance Factor enables you to optimise your stock levels and sales revenue opportunities.
What are the benefits of Locayta Balance Factor?
Maximise your profits: Whatever external factors influence the margin you are able to make on certain products, Locayta Balance Factor allows your to manage sales of the right products for you at the right time. By logging in to the simple Control Panel, Locayta allow you to determine the products that you want to sell or need to push. By setting a percentage determining to what degree you want to prioritise certain products, you are truly in control of your sales. Customers will still enjoy the same high level of accuracy on search results and drill down pages, but will be shown products first which help to maximise your profit.
Handle fluctuating stock levels: Again, dependant on external circumstances, you can be left with large amount of stocks online which need to be cleared. Locayta Balance Factor does all the hard work for you. By once again using the Control Panel, you are able to determine exactly which stock you need to prioritise, and this is then influenced in all search resutlts and browsing category pages.
Manage your brands: As a multi-brand retailer, keeping your external brands happy is key. Ensuring you are able to offer an attractive platform for brands to come on board as well as maintaining existing relationships is essential. Locayta Balance Factor enables you to prioritise specific brands whilst Brand Adjacency means you can control which brands appear near each other, or not as the case may be.
Managing Director at Prezzybox.com, Zak Edwards said, “It’s been a revelation. We have total control. We use Locayta Balance Factor® to adjust the weighting of search and category results, meaning that as well as responding to user behaviour we can add our own stock control and promotional strategies into the mix. We have the ability to create filter criteria to match seasonal promotions, gift categories and internal variables. Most crucially, because every decision we make can be applied automatically across every category we’ve eliminated any margin for error and ensured that our customers experience accurate results every time. It’s no exaggeration to say that we saw conversion rates increase overnight when we started using Locayta.”
Chris Griffin, Head of eCommerce at Superdry.com agreed, “Locayta offered the perfect combination of tools to control our search and merchandising. Our merchandising is much more effective and easy to manage, plus the system has undoubtedly driven revenue. Our e-commerce strategy has experienced four figure growth. We’re now aiming to roll out Freestyle Merchandising to eight further international sites in the next few months.”
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