Amazon product search is crushing your business
Consumers using Amazon product search is nothing new; but the fact that Amazon.com continues to get even bigger and is taking a bigger piece of the product search pie is getting daunting for all ecommerce retailers. In the brief article in recode earlier this fall, Jason Del Rey, the writer of the piece, discussed how businesses like Target and Walmart, as well as the great behemoth search engine, Google, all have had their product search either stall or decline due to Amazon's continued success. Based on a 2,000-person survey commissioned by the e-commerce start up BloomReach.com, fifty-five percent of people in the United States begin their online shopping on Amazon.com now.
Moreover, what's very telling is that Google, who many would think is ubiquitous for searching anything online, had a drop off from 34 to 28 percent in only one year; and all other online retailers had a drop off of 21 to 16 percent in product search, in that same time period.
How second-party data helps you to compete
Many ecommerce directors are perhaps sweating on coming up with creative ways to compete with Amazon (not to mention Google, Target and Walmart) when it comes to a consumer's initial product search habits. But have no fear our digital retail brothers and sisters, there is a way to level the proverbial playing field a bit on the side of you - second-party data. What is second-party data? It's another company's first party-data and by using second-party data your business can get access to consumers similar to your own, who are looking to make purchases today on products and services your site sells.
Quality Audience. Quality Traffic
You may be asking yourself:
But if 55% of all U.S. consumers are heading straight to Amazon.com to search for products, how will having access to other online retailer's consumers help my business?
Good question. And we have a good answer for you.
We here at Hivewyre have constructed a virtual shopping mall - filled with millions upon millions of shoppers, all who are shopping (in real-time) for specific products. When those shoppers in our co-op are looking for good/services, which your ecommerce shop sells, they will be shown your site via a programmatic advertising campaign, after leaving competitors' sites without completing a purchase.
Remember, according to the 2,000-person survey, 16% of online shoppers are still heading directly to ecommerce sites and if these consumers go to a site that sells what you sell and is in our co-op, then they will be shown your ads.
(Note: Hivewyre is an anonymized data co-op and we do not ever divulge to our clients or potential clients which ecommerce companies are within our co-op; therefore, all sites used in the below example may or may not be part of our data co-op at this time and are being used only to explain how our programmatic advertising works.)
- John goes to Nike.com and searches for a pair of basketball shoes, but ends up not purchasing a pair.
- He jumps off the site and goes to cnn.com.
- Because Nike.com is part of the co-op, while John is on cnn.com he is shown ads of basketball shoes from adidas.com (because it is also part of the co-op).
- After John reads a couple of articles on cnn.com he types in "Adidas basketball Shoes" into his brower's search bar.
- He clicks on the first result, which is www.adidas.com/Basketball_Shoes and is taken to the Adidas site.
- There he searches the site for men's basketball shoes and finds a pair of "Crazy Explosive Primeknit Shoes", which he has to have.
- He makes the purchase on the adidas.com site and is now pulled out of the co-op due to the fact that he has completed a purchase.
Think about your company's future
We have something different here at Hivewyre, which not many other companies have.
We own our data.
We don't use any third-party data.
We are not saying that there aren't other good methods to get your site in front of the right consumer eyes, but we are saying that second-party data is here to stay and more and more ecommerce directors are climbing on board. Remember when people thought retargeting was crazy and intrusive? As we know, retargeting is now a must-have in any reputable ecommerce digital advertising campaign.
Contact us and let one of our awesome and helpful account executives explain how we can help your business grow.