Can you imagine making 300 decisions a day? It may seem like a lot, but eCommerce business owners often average around 9000 decisions a month. Making good, timely decisions across multiple variables is not an activity that can be supported with just an Excel sheet.
Analysis paralysis continues to remain a major concern for eCommerce founders and CXOs. Since the amount of data being generated is unfathomable to the human mind, eCommerce brands spend too much time and effort on various growth activities without gaining insight into the outcomes of their actions.
Growth-as-a-Service is a concept that helps eCommerce brands leverage technology to understand growth opportunities across supply chains, inventory, marketing and sales. The idea is to create an ecosystem for eCommerce businesses that enables single panel access to all information, actionable insights, and recommendations to promote growth.
While the entire process runs on automation, predictive analytics using powerful AI models can help you understand what problems your brand faces, and how to overcome them using highly tactical advice- which is where the ‘service’ component comes in.
Why eCommerce brands need Growth-as-a Service ?
The eCommerce industry is highly competitive and market growth becomes extremely difficult, with a large number of brands struggling to cross a certain threshold or capitalize on opportunities. And although the motive for every brand is fairly simple – growth – true optimizations lie in understanding how to grow.
Graas' Growth-as-a-Service is an advanced AI-powered solution that enables eCommerce businesses to transform their growth efforts across multiple domains, platforms, and channels by improving visibility, comprehension, and outcomes of collected data. The predictive AI engine is an all-in-one solution for driving traffic, managing customers and sales data, and optimizing product listings, all with a singular aim in mind- to accelerate growth.
How we do it ?
Graas is an intelligent plug-and-play algorithmic eCommerce solution that helps brands better understand their data and deliver actionable recommendations to optimize business operations for increased growth. Here is how Graas is changing the competitive landscape for eCommerce:
Graas is enabling businesses to break the silos that prevent growth. The predictive AI engine reduces complexity and simplifies access to critical data through its unified dashboard. Further, it helps owners understand the market landscape and prioritize their spends based on existing demand, and projected future demand, across multiple geographies.
Graas creates a unified data pool for the brand to get centralized control and access to important information for in-depth analysis of the market conditions and consumer behavior. Consumer data thus gathered is processed by the predictive AI engine, and can help brand owners make decisions about what content to create, what kinds of products to launch and promote, and what campaigns to run during specific time periods.
Since all recommendations from Graas are data-driven and modeled on real-world behavior patterns, they are highly accurate and help businesses improve their performance across marketplaces, storefronts, websites, social media channels, and advertising campaigns. Further, the AI also offers suggestions for improving inventory and warehouse management, along with other domains of the logistics ecosystem.
The benefits of Growth as a service go beyond recommendations
Typically, growth platforms provide information, guide decisions, and make suggestions. Graas, however, is heavily invested in providing tactical support that helps brand owners take action and measure progress in real time. Here are a few other benefits of Graas:
Better operations
Graas allows eCommerce brands to connect multiple data sources to the AI-engine, enabling them to understand their operations better. It works by collecting and analyzing data from the company's products, orders, and customers. This information helps the company make better decisions about how much inventory to buy, where to store it, and how to get it out the door quickly and efficiently.
Reduced CAC
Graas helps eCommerce brands reduce customer acquisition costs by helping them reach their target audience more efficiently. Grass gives brands insights on their target audience such as demographics, location, and preferences. It also provides information on the performance of content on various channels, allowing brands to adjust their product descriptions, pricing, promotions, discounts, offers, and keywords for better results.
Grass also enables you to optimize the conversion journey with the help of an attribution model, which provides better clarity on how each acquisition channel performs. By analyzing each attribution model, you can get a better idea of the ROI for each marketing channel. Applying the right attribution model guides your decisions on which marketing channels you should spend more time, money, and effort on.
Such information allows brands to spend less time and money on advertising and helps them promote their products to the right audiences for better conversion and a higher ROI for their campaigns.
Improved revenues
The Graas predictive AI engine helps brands get a better understanding of their customers through predictive models and actionable insights. This enables better segmentation of customers based on interests and behaviors, and helps develop customized marketing campaigns that are targeted toward those specific groups of people.
Graas can be used to identify which products are performing well, what products customers are most likely to buy, and sales trends over a period of time. Such accurate data collection allows brand owners to improve their revenues by targeting specific audiences for better results.
Improved margins
As an eCommerce company grows, it can be difficult to keep up with the increasing costs of doing business. Graas helps eCommerce brands increase and maintain their profit margins by helping them manage the growing pains that come with expansion.
Graas provides a way for eCommerce brands to acquire customers more quickly at lower costs by optimizing their marketing efforts such as paid advertising. Further, it allows eCommerce brands to integrate customer data into their customer service operations, giving them better insights into what customers want and when they want it.
Doing eCommerce better with Growth-as-a service
Graas' Growth-as-a-Service helps eCommerce brands think about growth as a multidimensional necessity that spans marketing, product, and operations. Specifically, the Graas predictive AI engine helps eCommerce brands by providing them with a single, comprehensive solution to all of their everyday challenges- making and validating decisions, optimizing spends, and eventually, creating a delightful customer experience.
Turbo-charge your eCommerce business by partnering with Grass for your growth. Please reach out to us to schedule a customized demo suited to your needs at this time as a brand owner.