Doing an e-commerce brand audit is highly recommended when you experience issues with sales, advertising, engaging, and retaining customers. The most common reason for not being able to build a connection between your e-commerce website and your potential buyers is that your e-commerce branding is off.
The audit assesses any interactions between the brand and the world and establishes the brand’s perception in the eyes of the customers, employees, and the entire marketplace. Conducting a brand audit is the first step in creating an effective marketing campaign. Externally it looks at the things like the logo, social media presence, email marketing, public relations, etc. With company brand being one of the core assets of any company, it is essential to know when to do a brand audit. Here are some instances that call for a brand audit for your e-commerce site.
Evaluate & analyise your e-commerce brand
Before getting into the details, here is a link to the industry-standard, market research-based e-commerce brand audit you can take any time for your e-commerce website. Configure your e-commerce brand audit from $500.
E-commerce conversion rate is low or decreased significantly
Conversion rates refer to the percentage of visitors to a website that complete the specific desired action of the site. It could be making a purchase, subscribing, joining a mail list, etc. Analyzing conversion rates is one of the most effective ways of assessing the performance of any marketing campaign. Analysis of conversion rates is an effective measure of the success rate and the return on investment (ROI) in any campaign. Seeing how vital conversion rates are for any business, a drop in conversion rates is bound to cause any business owner sleepless nights.
When you notice that your conversion rates are low or decreasing, it may be time to conduct a brand audit. A brand audit will help you to pinpoint the exact cause of the reduced conversion rates. The reasons for low or a drop in conversions rates could be anything from lack of browser compatibility, failing to optimize for mobile devices, etc. A brand audit helps you to identify the areas in the conversion funnel that you can optimize. Typically, the audit will employ quantitative tools to gather numerical data on what exactly is happening in your e-commerce website. Some of the tools for collecting quantitative data are General analytic tools, Funnel tools, Customer Satisfaction tools, etc. After gathering all the quantitative and qualitative data, the brand auditors will then look into areas that need some changes to optimize conversion rates.
Struggling with traffic acquisition: high cost per click and low interaction rate
Having traffic to your e-commerce is the first step towards having conversions on your website. Measuring web traffic is a common way of assessing how effectively your business is attracting its target audience. Cost per click (CPC) refers to the amount one pays for every click in their paid advertisements. CPC is a crucial marketing metric since it gives insight into how much your business pays to earn clicks. It is also helpful in understanding how good your ad campaigns are performing when compared to your competition. As a result, you can know which ad campaigns have the best returns on investment.
CPC is a potent gauge for measuring ad performance. If you find that your cost per click is too inflated to your liking, you could consider doing a brand audit that will identify any room for improvement in your ad strategies. A brand audit will dissect your business to try to find the causes for a high CPC. There are several probable reasons as to why a brand could be having a high CPC. They could include high competition, the quality score of keywords and landing pages, or the general industry that your business is in. An e-commerce brand audit, or a marketing communications audit will reveal how to optimize your campaigns for higher engagement, and lower the average CPC. Strategies that the brand auditors may suggest are using long-tail keywords, improving your ad relevance and quality score, or testing new landing pages. All these changes will likely increase the interaction rate.
Negative feedback and comments on social media marketing campaigns
Social media is an effective mode of direct communication with your audiences. You get to know their thoughts, feelings, and perspectives of your brand. That said, the feedback from these platforms is not always rosy. Social media provides a channel for customers to air their complaints, and sometimes, even a single complaint could go from zero to a hundred and gain momentum to ruin your company’s reputation.
An audit comes in handy when you find yourself in the line of negative feedbacks and comments on your social media campaigns. Doing an e-commerce or marketing communication brand audit is likely to be better placed in giving you the best tips for navigating such feedback without scathing your brand.
What to remember when handling negative feedback is that you are better off responding rather than ignoring feedback. Deleting negative feedback will not make people abandon the opinions they have of your brand.
If anything, it could even lead to more negative comments! A brand audit helps to arrive at the root cause for the negative responses and ways to rectify the situation.
High bounce rate from traffic acquisition campaigns
Bounce rate gauges the frequency at which people leave your website. No one wants to record high bounce rates. A high bounce rate means that you are either attracting the wrong visitors to your site. Or that the users of your site don’t have the best experience causing them to click out of your e-commerce webpage. Whatever the case, it means that there are problems with your strategies.
A brand audit will help you layout the best game plan for your website, which will result in lower bounce rates. Some of the schemes that a brand auditor could suggest are improving the readability of your content, improving the brand storytelling, speeding up the loading times, or using keywords that will bring in high-value traffic.
Low engagement on product search pages
Engagement is one of the fundamental indicators of a successful website. High user engagement means that users enjoy your content, and they stick around long enough to absorb and convert. You are more likely to build a loyal customer base when the engagement is high. There will be more returning customers and higher conversions leading to more revenue.
Low engagement on your product searches could be an indicator of something wrong with your content. Your content may not be in line with the needs of your target market. A brand audit can help analyze the reasons for low engagement and the remedies that you can apply to make your content more appealing to your target audience.
The brand is the most prized asset in any business. It showcases the company values and makes the company more memorable in the customers’ minds. A brand audit is necessary for any e-commerce business that wants to stay relevant. It will help you evaluate your strengths and weaknesses to identify any opportunities for improvement.