The strategy to "Enhance marketplace presence" entails managing and expanding Dr. Scent's visibility across platforms like Noon, Amazon, Nahdi, and the official website. This includes optimizing marketplace stores and ads by conducting audits of current listings and identifying top-performing products for optimization. A/B testing on product descriptions and images, as well as optimizing product titles and search terms, are crucial to improving visibility.
Tailored marketing strategies for each platform are developed by conducting market research on demographics and crafting unique value propositions. Collaboration with design teams to create platform-specific content ensures a targeted approach. Understanding peak sales periods allows for effective promotional scheduling.
Monitoring sales performance and accurate forecasting are achieved through tools like Excel and platform analytics. This allows for setting up automated dashboards for real-time KPI monitoring and conducting monthly sales forecast meetings. Regular competitor activity monitoring ensures that strategies are adjusted accordingly.
The strategies
⛳️ Strategy 1: Optimise marketplace stores and ads
- Conduct a thorough audit of current marketplace listings
- Identify top-performing products and optimise their listings
- Implement A/B testing for product descriptions and images
- Optimise product titles and search terms for better visibility
- Analyse ad performance metrics using Google Analytics
- Reallocate budget to high-performing ad campaigns
- Regularly update and test ad creatives for higher engagement
- Implement retargeting strategies to drive repeat purchases
- Maximise reviews and ratings by engaging with customers post-purchase
- Track and report on marketplace performance on a weekly basis
⛳️ Strategy 2: Develop tailored marketing strategies for each platform
- Conduct market research to understand the demographics of each platform
- Define a unique value proposition tailored for each marketplace
- Create a monthly marketing plan for each platform
- Collaborate with the design team to create platform-specific content
- Identify peak sales periods and create promotional schedules
- Partner with influencers for platform-specific collaborations
- Implement flash sales or limited-time offers to increase urgency
- Create a loyalty program tailored for repeat customers on each platform
- Collaborate with platform-specific marketing teams for insights
- Measure the impact of marketing strategies and adjust as needed
⛳️ Strategy 3: Monitor sales performance and forecast accurately
- Utilise Excel and platform analytics to track sales trends
- Set up automated dashboards for real-time KPI monitoring
- Conduct monthly sales forecast meetings with internal teams
- Identify underperforming products and create improvement plans
- Analyse customer feedback for insights into buying behaviour
- Develop quarterly sales forecasts based on historical data
- Adjust inventory planning based on sales forecasts
- Create weekly reports to track progress towards sales goals
- Monitor competitor activity and adjust strategies accordingly
- Continuously review and improve data collection methods for accurate forecasting
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
