Drivers and Strategic Takeaways
Instant Brands: Winning on Share of Voice through ESM Pro
Please Note: All insights are extracted from publicly available data including search ranking, volumes, pricing, content and reviews.
WHO IS INSTANT BRANDS?
Instant Brands manages a portfolio of seven prominent brands – Instant Pot, Corelle, CorningWare, Pyrex, Snapware, Chicago Cutlery and Visions – household names known for ingenious products to prepare and serve food. That means managing hundreds of SKUs across hundreds of retailers, all with demand accelerated by the increased spending on home goods and cookware during the pandemic.
WHY DID INSTANT BRANDS USE ESM PRO?
Instant Brands recognized the need to consolidate its retail ecommerce tech stack to achieve full visibility and control over the retail marketplaces in which it operates.
Using ESM Pro, CommerceIQ’s all-in-one Retail ecommerce Management platform, Instant Brands now has a single source of analytics, and automation to manage and grow its business across Amazon.
Instant Brands is able to not only drive business efficiency, but also create an improved customer experience by reducing out of stocks, and removing third-party variants and duplicate listings – all automatically.
Using CommerceIQ’s Retail Media Management capabilities, Instant Brands was able to further extend and consolidate inputs from their marketing investments on Target and Walmart.
One of the key outcomes as a result of implementing CommerceIQ ESM Pro and related capabilities was an increase in Share of Voice for key brands within the Instant Brands portfolio.
WHAT IS SHARE OF VOICE?
Share of Voice (“SOV”) dictates your overall ranking on specific keywords relevant to your category. This measurement represents your brand’s share on the digital aisle across all the different ways consumers are looking for your products. It is a leading indicator of market share.
HOW TO MEASURE SHARE OF VOICE?
SOV takes into account both the number of times a brand’s products show up on search results, as well as the relative importance of each keyword associated with those products. A brand with a higher SOV has more visibility within its industry than one with a lower SOV.
Brands with higher SOV have greater visibility and thus more opportunities to drive traffic and sales through organic search results. Measuring share of voice also allows brands to identify areas where they are outperforming competitors as well as areas that need improvement. This information can inform decisions about marketing campaigns, product positioning, and product detail pages (“PDP”) optimization strategies that can help increase share of voice.
It’s important to track share of voice across all channels to ensure that your brand has maximum visibility when customers are searching for products similar to yours.
HOW DID INSTANT BRANDS WIN ON SHARE OF VOICE?
Correlle is one brand within the Instant Brands portfolio that is winning on Share of Voice.
Improving the Share of Voice ranking is primarily driven by PDP optimization and a comprehensive retail media strategy.
Optimizing product pages means providing detailed descriptions, including images, videos and other visuals, so that customers know exactly what they are buying before they make their purchase decision.
Corelle is winning in a tightly contested field on key search terms for their category.
Correlle has strong investments into PDP optimization.
HOW DOES ESM PRO HELP YOU WIN IN RETAIL ECOMMERCE?
Retail ecommerce Management (REM) is the practice of brands driving profitable growth for their portfolio on retail marketplaces. It encompasses the full set of activities from assortment and content setup through retail media, supply chain, finance, measurement, and optimization.
ESM Pro helps you manage all of these complexities in one place. Key features include:
Single Source of Truth: Centralize measurement and reporting across your entire business
Digital Shelf: Brands can now manage and optimize their digital shelf, including core automated ticketing and intraday automations tied directly into your sales and operations teams.
Supply Chain Management: Total supply chain management including shipment and consumption forecasting as well as automatic PO correction.
Digital Shelf and PDP Optimization: Ensure content is up-to-date and optimized to
Strategic Support: Creation of an internal strategic division which will leverage our internal experts paired with wholistic reporting to build plans and solutions customized to key REM success metrics.
WHAT ARE THE OTHER FACTORS TO WIN IN RETAIL ECOMMERCE?
It can be difficult to really understand the success of your retail ecommerce business, given all the factors and metrics that go into it. In addition to Share of Voice, there are eight key metrics to consider when evaluating your performance in the world of retail ecommerce.
Read all about them here: 8 Factors to Win in Retail ecommerce