Category Archives: Google Shopping

How To Rebuild Your Business After The Pandemic

How To Rebuild Your Business After The Pandemic

The year 2020 has proven to be a difficult year so far for businesses around the world due to the outburst of the global pandemic. Manufacturing units are shut down, supply chains are disrupted and companies are facing labor shortages due to the imposition of lockdown by their respective governments. All these factors have culminated in the disruption of global trade that has brought the world’s economy to a standstill.

Coronavirus impact on businessCoronavirus impact on business

As you can see from the graph given above, the GDP of countries across the world has been affected negatively due to this pandemic. Millions of individuals have lost their jobs as most of the businesses are on the verge of shutting down permanently. So, does this global economic downfall mean that your business cannot get back to its former glory post this pandemic? The answer is yes, it can.

Businesses in China, the country where this pandemic originated are slowly springing back to life. Most of the businesses in this country have started their operations already, though with strict safety measures in place. The world needs to develop similar recovery strategies that would slowly put the economy back on its feet and ready to move upwards on the graph once more.

Stabilizing your business after this pandemic is going to be a tough task, but it is not impossible. You just need to improvise your business strategies and redesign them to meet the requirements of the current market. You need to have a recovery plan that can put your business back on track once this crisis subsides.

Following is a list of few steps that you can take to restart your business after this pandemic:

1. Identify the Damage done to Your Business: Every business, big or small, has been affected due to this pandemic. You need to minutely study every aspect of your business and determine the area which has taken the most hit. For example, if your production unit is doing fine but your supply chain is hampered due to the lockdown, you need to concentrate your efforts in that area.

No business can flourish without a smooth cash flow which is the reason you need to identify the economic damage done to your business. If the damage is too high, do not hesitate to ask for funding from different sources to jump-start your business. Many governments have already offered economic packages to help rebuild the SMEs. Take help from wherever possible but just make sure that the influx of money is not hampered.

Identify the damage done to your business

2. Learn to Adjust to the New Way of Working: Lockdown has confined people to their homes which have forced companies to allow their employees to work remotely. Surprisingly, this model has proven to be cost-effective for many companies and they are planning on sticking to it even after the pandemic.

As a business owner, you must come up with new ways to make remote working engaging as well as productive. Also, never fail to address your employees’ concerns as they need to feel connected to their company. Remember, your employee is an integral part of your business and a business can only prosper if they are happy.

3. Develop new Business Strategies: This pandemic has changed the market in many ways which means that your previous business plans won’t bear fruit in this current situation. Take your time and restructure your strategies so as to meet the changing demands of the current market.

As a business owner, you will need to find out what problems your customers are facing right now and how well you can address them. For example, since restaurants are closed due to the nationwide lockdowns, restaurant owners have started doorstep deliveries and takeaways with amazing discounts to keep their businesses running amidst this crisis.

Develop new business strategies

4. Concentrate on Selling Your Products Online: Since the coronavirus has limited the public movement, it is wise to concentrate your efforts on selling your products online rather than through the physical market. Redesign your marketing strategies in such a way that they will help to regain the customer’s trust in your brand once more.

If you have a website, ensure that it is free of flaws and functions smoothly. Create innovative content and post it regularly on your website so that the customers will be aware of the steps you are taking to stay afloat in this crisis. Let them know that you are taking all the necessary safety measures at your manufacturing facilities and even during product deliveries to ensure a safe environment. This will help the customers keep their faith in you which will, in turn, boost your sales.

5. Prepare a Contingency Plan for the Future: At this stage, you would have understood how important it is to have a backup plan to tackle such emergencies. The COVID-19 pandemic has taught the world economy a lesson that it needs to be prepared for such scenarios because this kind of a worldwide disruption is not going to be the last one.

There are a lot of steps that you can take to ensure that your business does not get affected due to such global threats. For example, you can find ways to cut operating costs without disrupting your work culture to increase your profits. You can even focus on strengthening your liquid cash savings to ensure smooth cash flow in the midst of such an outbreak in the future. The crux is to learn from the current scenario and have a contingency plan to keep your business running.

Prepare a contingency plan for the future

To be frank, this situation is new to everyone in this world. We cannot comprehend how well the economy will bounce back after this pandemic but we do know that we have the determination and the skill to bring our businesses back to normal. All we need to do is give our 100 percent to our business and take every step required to get our sales charts on the upper side of the graph once again.

For further information on  Online Marketing, you may contact us or visit our website www.bmconsulting.in

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Covid19 Impact On E-commerce Industry

Covid19 Impact On E-commerce Industry

The entire world is affected by the Covid19 pandemic since February 2020. Large as well as small scale industries have been shut down owing to the lockdown imposed by countries that have led to a huge drop in the global economy. The United Nations estimated that this pandemic can cost the global economy close to 2 trillion dollars.

This global outbreak has adversely affected business models and supply chain networks across the globe. Even the e-commerce sector has seen some unexpected buying patterns from the customers. The fear of this global pandemic has led to panic buying and people are hoarding essential goods with the intention of stocking up in order to sustain during this crisis.

Covid19 Impact On E-commerce Industry 1

Organizations have allowed their employees to work from home, which has led to a boost in in-home consumption. There is a high demand for personal hygiene products like hand sanitizers, floor cleaners, wet wipes, toilet papers, etc. Since the government has imposed a lockdown on malls and multiplexes to prevent social gatherings, people are buying groceries and other essentials online.

Due to this sudden spike in demand, online stores are finding it difficult to fulfill orders. The need for certain products has also led to an exponential increase in their prices. The closure of factories in many countries has hampered the supply chain, thereby creating an added pressure on the retailers. However, many retailers have slowly started to improvise their strategies in order to meet the growing demand for essential goods amidst this pandemic.

Covid19 has created a paradigm shift in consumer behavior. People have understood that this virus is going to be there even in the second half of 2020 and they have to learn to live with this reality. They have accepted a simple lifestyle and are sticking to the basics in order to sustain in the long run. People who used to stand in long queues at grocery stores before this crisis have understood the importance and benefits of online shopping and are likely to stick to it even in the future.

Covid19 Impact On E-commerce Industry 2

Prior to this pandemic, traditional retailers were focusing more on driving traffic to their physical stores rather than to the online ones. However, due to the increased dependency on online shopping, retailers would now need to concentrate more on developing their online presence in order to meet the growing demand. Personalized engagement will play an important role, especially with respect to essential commodities like personal care items and groceries as consumers seek increased communication and trust about the quality of these products.

Covid19 Impact On E-commerce Industry 3

When it comes to online shopping, people still fear of contracting the virus through the packages delivered to them. However, there is a very low possibility of such a contraction. According to the Centre For Disease Control (CDC), there is a rare possibility of the virus spreading from products or packages that have been in shipment for at least several days and did not come into contact with any sources of contamination after packaging.

The World Health Organization states on their website that the likelihood of an infected person contaminating commercial goods is low and the risk of catching the virus that causes COVID-19 from a package that has been moved, traveled, and exposed to different conditions and temperature is also low. If retailers are willing to take added caution like sanitizing the packages before delivery, ensuring that their deliverymen wear gloves and masks all the time and monitoring the smallest changes in their health, then it will be easy for people to trust this delivery system.

Though this pandemic has wreaked havoc across the globe, it has created an opportunity for e-commerce platforms to improvise their business strategies and mould themselves according to the current scenarios. In the end, the success of your business depends on how you adapt to the changing world around you and do the best with what you have.

For further information on  E-commerce Marketing, you may contact us or visit our website www.bmconsulting.in

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Google Shopping Campaign Basics and Essentials

History and Introduction

The concept of Google Shopping was founded and introduced by Craig Nevill-Manning in 2002 as ‘Froogle’ that comprises a service which allows the Internet users to find products online and compare their prices. Google Shopping witnessed its journey by different names like Froogle, Google Product and Google Product Search respectively. Google Shopping exploits latest technologies to promote the business of merchants by finding the right audience for their products.

Getting Started with Google Shopping

You must have noticed that when you search for a certain product in Google, it displays some advertisements matching your search query in either the search engine result page or in a shopping tab.

For example, if a user types ‘buy red earrings’ in Google search bar, then some sponsored ads appear in the search results as shown below, this is nothing but a result of the Google Shopping campaign. As you can see here, each advertisement contains a relevant title, price and image which are exactly meeting the user requirement.

In this way, Google Shopping boosts the chances of visibility of your products among the online users. As nothing worth comes free, to avail this service i.e. to get your product ranked in search results, you have to pay to the Google. When a user clicks on your product he/she gets navigated to the relevant landing page of merchant website. In this way, a chance of getting sales through Google Shopping significantly increases.

 

Backbone of Google Shopping

Google Merchant Center and Google AdWords form the backbone of Google Shopping. Let’s discuss them in brief.

  • Google Merchant Center – Google Merchant Center provides a platform where merchant feed their store details and SKU details (or in simple words – product details). It contains a list of all the products that an online store contains. The format of this list can be textual or in XML. Each product contains some values or attributes that describe how the product exactly is. Some of these values or attributes are size, color, available quantity, price, product identifiers (EAN/ISBN), etc. Some of these attributes are compulsory whereas some are optional. If the description doesn’t match the product or is irrelevant in any way, then the product may not locate in the Google search results, which is nothing but a loss for the business.

 

  • Google AdWords

Google AdWords is an online advertisement service which allows merchants to create advertisement campaigns. Through advertisement campaigns, the merchants can choose their budget, bids, location, schedule, etc. It is mandatory to have a Google AdWords account to run a campaign for Google Shopping.

 

Steps to Create Google Shopping Campaign

Firstly, you need to have an online e-commerce website upon which your customer will be redirected once they click on the advertisement. Secondly, you have to set up a Google Merchant account as well as a Google AdWords account, and then you will be linking both of them with each other. Let’s take a closer look at the steps to do this.

  • Go to google.com/merchants and create a Google Merchant Center account. If you already have a Google AdWords account then go to Tools section and select Merchant Center, and here you can create a Google Merchant Center account. During account creation you will be asked to fill in the required fields like business location, store name, website and contact details.

 

By default, Google follows one store – one merchant account format. However, if you want to add multiple merchant accounts to a single Google account, you need to contact Google and follow a customized procedure to do so. Each merchant account will be given a unique merchant identifier.

 

  • Next, you have to upload the product list (also called as data feed) of all the products available in your online store. This list contains products and their respective attributes as discussed above.
  • Now, it’s time to verify your website with Google Merchant Center. Once this account gets verified, just link this account to your Google AdWords account.
  • Now, this is the time to setup Google Shopping campaign through Google Adwords. Sign in to your Google Adwords account and click on the campaign drop-down menu and choose Shopping from it. You will be asked to set up your campaign by entering the details like – a campaign name, merchant identifier ID, country of sale, and target locations.

 

  • Now, create an Adgroup that will consist of all the products that you wish to display in advertisements. You can also setup different Adgroups for different product groups with variable bids depending on your business insights.

 

In this way, your Google Shopping campaign is all set. Moreover, you can edit, manage and measure your campaign’s performance using Google AdWords account.

Google Shopping has potential to significantly boost the CTRs as well as the sales. It allows your brand and products to grab focus of a wide set of audience, and consequently better business opportunities. For further assistance on Google AdWords, Google Merchant Center or Google Shopping, please feel free to contact us on info@bmconsulting.in. You may also visit our website www.bmconsulting.in for more information.

 

 

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GOOGLE SHOPPING – BASICS AND ESSENTIALS

The concept of Google Shopping begun as Froogle in 2002 as introduced by Craig Nevill-Manning. Basically a price comparison service for all-purpose products sought after by the general population, it was distinctive in its method as it used Google’s web crawler to extract product data from vendor websites. The service was promoted as Google Shopping 10 years later and brought changes in its working model. With the advent of Google Shopping, merchants have to pay (through Product Listing Ads) to have their products listed for the service.

Today, Google shopping can be described as an integration of two Google tools – Google Merchant Center and Google AdWords. It functions just as before – to allow users to search and compare prices of products from different vendors. The search results include an image, title, description, business name and other fields to describe the product in a way that exactly suits the buyer audience. Through Google Shopping, your products are displayed on Google, other sites and also mobile interfaces. A simple process that occurs in two major sections allows for smooth enrolment and you are only charged once your product is clicked.

The first step is to create a Google Merchant Center Account. Google Merchant center is a complimentary tool to AdWords where you upload your inventory to permit is availability on other Google tools. Before setting up an account in Merchant center, you need to have a working website that represents your online store as this is where your customers will be redirected. You may use the link: google.com/merchants or set it through Google AdWords by selecting Merchant Center under the Tools section. By default, Google allows one store per merchant center account. You may run multiple stores in one account by contacting Google through a designed process. Each store is given a unique ID by Google which is known as the Merchant identifier. The account set up includes fields such as business location, store name, website and contact details. Before you complete the process, you will be required to verify your website.

Image source: docs.magento.com

Once the Merchant center account is set up, you may now set up the Google Shopping campaign in AdWords. Once you login to your AdWords account, click the campaign drop down menu (in the campaigns tab) and select Shopping. You will be prompted to set up your campaign by giving it a name, selecting your merchant identifier ID, country of sale and locations of target. Once this is done, set up an Adgroup that will contain the product group. This product group will contain all the products that you wish to display. You may set up the bids according to your business insights. Variations can be done in the AdWords settings so that you have multiple product groups with varying bids.

           Image source: support.google.com

Google Shopping set up is as simple as that! But its benefits are great as they allow you as a vendor and your products to be broadcasted widely to an appropriate set of audience which drives in relevant results for your business. For any further information on Google AdWords, Merchant center or Google Shopping, please contact us on info@bmconsulting.in. You may also visit our website www.bmconsulting.in to get further insights.

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