Insights / Business Recommendations (Bêta)
What is it?
Insights: plan your next business moves
A new Insights brick is currently being deployed on our platform: Business Recommendations.
Your business, whether online or offline, is complex and adapting is the key to success. Certain things, in particular, can lead you to get a bit lost: the variety of the product catalog, the multitude of marketing channels available to you, especially the vast network of marketplaces...
You know which target group is addressed by which marketplace, which categories are highlighted, but one important question stands:
- is this marketplace the best for MY products, the most suitable, the most profitable?
How does it work?
To suggest a business recommendation in INSIGHTS, Lengow uses products EAN codes.
This EAN matching we do, thanks to algorithms our tech team developed, enables us to see if you have similar products than other merchants, who already have sold these products on a marketplace. Marketplace that you don't have in Lengow yet.
Therefore, thanks to this EAN matching, we can confidently suggest you this marketplace as a new business opportunity and even provide a turnover estimation you could make if you had these products on that marketplace!
Next step for you would be to add this new channel to your account.
- Make sure you have EAN codes completed in your catalogues
- Note that we base our marketplace suggestion on products that have been sold over the last three months (for this marketplace)
- Note that selling price is the trigger to build the business opportunity estimation.
- If the estimated turnover is under 1000€, we assume that it's not relevant enough to display the Recommendations