We know how hard it is to come up with ideas for what product to offer next.
There are a few areas within your Quantcast Measure profile that can help you uncover what recent shows your users are watching and new brands your users are shopping. Find your next sales hit through your Quantcast Measure audience reports!
We are covering how to:
- Inform new product offerings: Do not blindly decide your next inventory order! Learn what is trending amongst your users, and use audience insights to drive what product to offer next.
- Discover new market opportunities: Understand your audience further by identifying their interests and other sites they are visiting. Use this data to seek new business opportunities!
- Compare metrics between different products: With Quantcast Measure’s Content Segments, compare how different sections of your site perform down to an individual product level. Measure which products are leading ahead for which audiences, and begin to optimize your business strategy.
1. Inform new product offerings
Our audience reports can inform offerings for many businesses such as news publishers, entertainment blogs, food and recipe directories, and others.
We’ll run through an e-commerce example here.
Let’s say you are the merchandiser for an online clothing store. You are selling some great casualwear and accessories already and are looking for the next hot item to bring in.
Let’s go to your Quantcast Measure profile and learn your audience’s recent interests.
From the Retail > Apparel category of the Shopping Interests Report, we see:
Over 29% of your audience is interested in Converse, 26% of your audience is interested in Nike and 23% is interested in Columbia.
These three brands all commonly specialize in lifestyle activewear or outerwear.
Moving to the Interests category of the General Interests Report, we see:
Your audience has a 5.2x affinity for Sports – just slightly under the affinity for Style & Fashion.
Recall affinity is a measurement of how much more likely someone who visits your property is to be interested in a given topic than the average Internet user.
Here, 5.2x affinity means visitors to your site are 5.2x more likely than the average Internet user to visit websites in the Sports category.
We see Running, Cycling, Tennis, and Swimming & Diving are the top four sports interests.
Looks like there is a trend!
Given your audience’s interest in Style & Fashion, Sports, and brands like Nike and Adidas; it may be time to bring in more sportswear inventory.
2. Discover new market opportunities
In the same General Interests report, you had noticed that your audience also shows a strong interests in the Home & Garden category, specifically for Interior Decorating.
Adding a “Home” section could be a great idea!
You pitch this to your chain of command and your website starts experimenting with a new section offering home goods such as bedding, kitchenware, and decor.
Way to go!
3. Next steps: Compare metrics between different products
Now that you have introduced a new product range to the site, the next step is to compare how well it performs!
Sure, sales numbers provide some insight.
But traffic – specifically what type of traffic – can tell you much more! Does the “Home” section attract a different demographic? Are users there more engaged?
Use these metrics not only to measure the success of products, but also to optimize business growth and marketing strategies.
To start comparing sections of your site, you will need Content Segments set up.
Content Segments gives you the same audience measurement Quantcast provides for web, broken out by different meta tags such as titles, keywords, authors, or sections. Content Segments work by looking for specific HTML meta tags in a website and aggregating the data based on those meta tags. For example, if you enable Content Segments for sections, we will look for the meta tag section in the webpage and create a Content Segment for every section that is tagged.
Leverage your traffic and audience data from Content Segments to determine how successful the new “Home” section is for your business!
Keep your users on their toes by knowing what products your users want even before they do! With Quantcast Measure audience reports, you will quickly get the data you need to understand what is trending with your users.
In this article, we ran through an example where we found that your audience really enjoys activewear and interior decorating. You use this data to order more sportswear items and to introduce a new “Home” line.
Our audience reports can help a number of business types — helping an Entertainment blog find what shows and movies users are into or helping a News Site find what geography, lifestyle, and demographics their users belong in.
These insights can help inform business decisions around inventory planning and help you discover new market opportunities.