Fraud Blocker

Revolutionize Your Ecommerce Strategy with Walmart Rich Media

By:marketing | 27 January, 2024 |Walmart,

Categories
Walmart

Revolutionize Your Ecommerce Strategy with Walmart Rich Media

At this point, it is widely acknowledged that the ecommerce sector has undergone an unprecedented surge in growth over the recent months. Nevertheless, the increased online shopping activity among consumers doesn’t automatically guarantee success for all ecommerce programs. 

Moreover, consumers are increasingly inclined to make purchases from brands that not only prioritize product quality but also embody clear values and a purpose. The effectiveness of in-store marketing activities has temporarily diminished due to the ongoing pandemic, prompting consumers to rely more on product pages on major online retail platforms like Walmart throughout the various stages of the marketing funnel, from awareness to consideration to the final purchase.

If you’re new to selling on the Walmart Marketplace, our beginner’s guide can be a valuable starting point.

What is Walmart Rich Media?

The swift convergence of recent shopping trends necessitates a substantial transformation in how brands engage with consumers online. An indispensable tool in this endeavor is enhanced content, also recognized as A+ Content or Rich Media on Walmart Marketplace. This feature empowers brands to distinguish themselves on the digital shelf, providing the immersive shopping experiences that today’s customers seek.

Enhanced content encompasses a range of elements, including comparison charts, 360-degree image spins, videos, image galleries, and graphics. These experiences enable brands to establish a more profound connection with shoppers, allowing them to articulate a more compelling brand narrative and convey core values directly from the product page.

The effectiveness of enhanced content in capturing consumer interest and driving purchases has been well-documented. According to a Salsify study conducted last year, nearly one-third of the top 10% of products sold on Walmart Marketplace made use of Walmart Rich Media. These successful products also featured nearly twice as many images as an average product page and garnered 17 times as many reviews.

Getting Started with Walmart Rich Media

Similar to many new ecommerce endeavors, when embarking on an investment in Walmart Rich Media, it is advisable to initiate a process of testing, iterating, and subsequently scaling. Brands should carefully decide the number of SKUs (Stock Keeping Units) they want to initially test and weigh the options of creating this new content in-house or collaborating with an agency.

It is crucial to acknowledge the diverse array of formats available for enhanced content, such as carousels, videos, charts, enhanced FAQs, and 360 spins. Determining which formats are most effective as starting points enables brands to familiarize themselves with Rich Media before fully committing. Additionally, brands should always bear in mind that consumers use a variety of devices to search and shop on Walmart Marketplace. Therefore, any created content should display equally well on a 6” phone as it does on a 30” monitor.

When a brand is ready to dive into Rich Media, examining the competitor landscape can be a valuable source of inspiration. Conducting an audit of the top 50 selling competitors helps identify creative gaps and opportunities in your category. It allows you to comprehend trends in product offerings, devise strategies to creatively position your brand for new market share, and plan how to differentiate yourself and compete with top performers without solely relying on pricing.

As a brand engages in testing and iterating on Rich Media, consumer feedback becomes a valuable dataset. Prioritizing communication for Rich Media can be shaped by leveraging consumer-generated insights into what they value most. Both positive and negative reviews offer valuable information about what motivated a consumer to use (or not use) your product.

Measuring Rich Media Success

Measuring the effectiveness of Rich Media initiatives involves considering various key performance indicators (KPIs), but focusing on business-benefit metrics is often recommended. Here are some essential metrics to assess the impact of Rich Media:

Search Rank Improvement: 

Effective Rich Media contributes to higher conversion rates, leading to improved search rankings. As a product experiences more conversions, its ranking ascends, resulting in increased visibility and discovery by consumers. This positive cycle can be measured and optimized over time.

Sales Growth: 

A higher conversion rate per product page, facilitated by Rich Media, should correlate with an overall increase in sales. Walmart Marketplace has indicated that Rich Media can lead to a conversion rate improvement of up to 12-36%, underscoring its potential impact on driving sales.

Customer Lifetime Value (LTV) Growth: 

In an era where brand activism is prominent, Rich Media provides an opportunity to introduce brand identity and values to new consumers. Consequently, brands should observe an enhancement in customer loyalty and an increase in repeat purchases over time.

By focusing on these business-benefit metrics, brands can gain valuable insights into the tangible impact of their Rich Media initiatives on search visibility, sales performance, and customer loyalty.

Enhanced Content Drives Connections Between Brands and Consumers

Approaching it from the perspective of a consumer, encountering an unfamiliar brand that has dedicated effort to create a welcoming and informative product page is genuinely enjoyable. The fundamental aspect of a brand identity lies in that initial connection between the brand and the consumer—a spark that all marketing and commerce teams should strive to ignite. Enhanced content stands out as perhaps the most effective way to kindle that spark.

Starting small and systematically collecting data to understand which types of enhanced content work best for specific products is a strategic approach. It allows for the development of a Walmart Rich Media Strategy that not only attracts more customers but also drives increased sales. By setting clear and quantifiable key performance indicators (KPIs) to measure success and improvement, brands can ensure a focused and effective strategy that resonates with consumers and enhances their overall shopping experience.

Elevate Your Brand with Unmatched Rich Media 

Embark on a thrilling journey of ecommerce success with Optiwise.ai, where not only do you get five free rich media options to supercharge your product pages, but you also enjoy an unparalleled level of customer support. 

In a league of its own when compared to platforms like Channel Advisor, Optiwise.ai is committed to your triumph, providing round-the-clock assistance and expertise. Our dedicated support team ensures that your brand’s unique needs are not just met but exceeded, offering guidance on content creation, troubleshooting, and optimizing your strategy for maximum impact. 

At Optiwise.ai, we don’t just revolutionize your rich media game; we stand by you every step of the way. Choose success, choose Optiwise.ai, where your brand’s potential meets exceptional customer support!

Recent Resources

Revolutionize Your Ecommerce Strategy with Walmart Rich Media

How to prepare for holiday shipping on Walmart Marketplace?

TACOS: Elevate Your Marketing Strategy

8 Reasons Why You Should Sell on Walmart Marketplace

Everything You Need to Know About Amazon A+ Content



Newsletter