The Business app enables a merchandiser to control exposure strategies, boost products, and perform A/B-tests with just a few clicks. It also allows for quick insights into sales origins for a market segmented on conversions, revenue, and profit.
App design and features are subject to change without notice. Screenshots, including simulated data visible, are for illustrative purposes only.
The Dashboard tab gives quick access to metrics such as sessions, orders, and sold units. It includes graphs for conversions, revenue, and profit as well as the origins of those metrics.
The data on the dashboard is displayed per market over a period of time that can be either daily, weekly, monthly, or a custom interval.
|Sessions||The number of active visitor sessions during the set period of time.|
|Orders||The number of orders that have been completed during the set period of time. An order can include one or more products.|
|Sold units||The number of sold products in the orders during the set period of time.|
|Conversions||The number of sessions where at least one order have been completed during the set period of time.|
|Revenue||The revenue of the sold products during the set period of time.|
|Profit||The profit of the sold products during the set period of time.|
The origin of a conversion is determined by the first interaction a visitor have with the purchased product. The origins grouped by Navigation, Search, Recommendations, Email, Product details, Suspected cache, and Untraceable.
If a product is purchased through a search result (Search), but the first interaction was a click on the product on a category page (Navigation), the conversion origin will be attributed to Navigation. The conversion, as well as all the revenue and profit of that purchase, will be attributed to Navigation. A conversion can include multiple products, hence one conversion can originate from more than one place. An example of when a conversion is untraceable when the product is found through a Google search and then bought.
Exposure strategies is a concept that enables merchandisers to have Voyado Elevate optimise its algorithms for product exposure towards different business goals. Three different exposure strategies are available, and A/B testing can be performed between two strategies. Exposure strategies include a step-by-step guide on how to set up and get started with testing.
Before selecting an exposure strategy it is recommended to perform an A/B test between the strategies. An A/B test will establish the effect of switching exposure strategy on a site.
The site traffic is split into 2 equal groups, each facing one of the evaluated strategies. Approximately 10,000 sessions is needed before any data is visible. This heavily depends on your site traffic and could take anything between a few hours up to several weeks. In the case of very low traffic load, it is recommended to simply set the exposure strategy to one that corresponds to your business goals without A/B testing.
Boost is a method for temporarily increasing the strategy score of selected products in a market. It is useful for use cases such as promoting upcoming external campaigns, stock clearance of specific products, or promoting certain brands or type of products. Boosted products will gain positions in search results, category pages, and other locations where boosting is supported.
Products are either handpicked or selected by rules that include or exclude products based on their attributes and values. Statistics for boosting are collected and can be measured against sessions not using boosting.
Bury is a method for temporarily decreasing the strategy score of selected products in a market. It is useful for use cases such as demotion of seasonal products when their season ends, or demoting certain brands or types of products. Buried products will suppress positions in search results, category pages, and other locations where burying is supported.
Products are either handpicked or selected by rules that include or exclude products based on their attributes and values. Statistics for burying are collected and can be measured against sessions not using burying.