Business app¶
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.
Disclaimer
App design and features are subject to change without notice. Screenshots, including simulated data visible, are for illustrative purposes only.
Dashboard¶
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.
| Metric | Description |
|---|---|
| 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. Note: Profit can only be calculated if product costs have been provided, see Best Practices. |
Conversion origin¶
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¶
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¶
Boost is a method for temporarily enhancing the strategy score of selected products in a market. It's valuable for scenarios like boosting upcoming external campaigns, clearing stock of specific products, or give certain brands or types of products a boost. Boosted products will secure higher positions in search results, category pages, and other supported areas.
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¶
Bury is a method for temporarily reducing the strategy score of selected products in a market. It's practical for scenarios like lowering the visibility of seasonal products when their season ends or reducing the prominence of certain brands or types of products. Buried products will lower their positions in search results, category pages, and other areas where burying is supported.
Products can be chosen manually or based on rules that involve including or excluding products depending on their attributes and values. Statistics for burying are gathered and can be compared to sessions without burying.
