How to sell more online.
A British company that helps brand owners win in the e-commerce space is making online retail easy.
According to figures from eMarketer, in 2017, retail e-commerce sales worldwide amounted to $2.3 trillion and e-retail revenues are projected to grow to $4.88 trillion in 2021. Worldwide, online is the future of retail, but many British businesses are failing to grow their eComm revenues at the same pace as many other markets.
E Fundamentals is a UK company that intends to fix that. By scanning extensive category data from a huge number of retailer websites around the world, E Fundamentals shows its clients all the insight they need to seize opportunities and boost online sales.
The company’s CEO, John Maltman, says: “Everything the company does is aimed at improving the sales and profitability of my clients. We’re not in the ‘analytics for fun’ business, we’re all in the business of helping our companies do well in the marketplace.” This approach seems to be working – the business has picked up some of the world’s biggest food companies – Nestle, General Mills, Birds Eye and Mars – as clients in the past few months.
Anam Khawar, the business’s marketing manager, says there is huge potential around e-commerce, from groceries to utilities and holidays, but an inconsistent approach among businesses that is costing profits.
“Whilst almost all major players cite online as a major growth area at a corporate level, many lack the insight required to execute at a practical level where it really counts,” he notes. “Consequently, their brands’ presence on retailer websites lack impact, clarity and a compelling value proposition versus their competitors. Very often our clients don’t have the bandwidth or expertise to dedicate proper time and attention to selling online, leading to disappointing results.
“Clients spend millions on developing and advertising brands, but very often time they come over as small and dull on crucial sites like Tesco.com because it’s no one’s job to translate the offline brand into the world of online grocery,” he adds. “Online sales need better integration – too many companies treat it as an afterthought.”
While figures show the huge growth of online sales – with giants such as Amazon and eBay accounting for much of the market – Khawar says that a “cultural shift” is needed to get more retailers on board with online marketplaces and to put their online sales under the same scrutiny as their in-store ones.
“Part of what we do with clients is translate their in-store model online,” she explains. “Companies need to understand how to represent their product online and commit to best practice as you would do in store, with great pictures, descriptions, and so on. But the main differentiator between us and our competitors is our strategic perspective – that those efforts are part of a commitment to growing clients’ online business rather than simple tactical optimisation.”
From insights to action
Based in London and Edinburgh, the company now employs more than 50 people, from marketers and client managers to the tech team developing the E Fundamental platform that pulls millions of data points from thousands of online stores and marketplaces worldwide. These are analysed and condensed into the insights so valuable to brand owners.
“We offer actionable insights that can be moved ahead quickly,” says Khawar. “It’s not just data and reports. We want to find things that people can act on in their day-to-day jobs across functions.”
The company prides itself on an intuitive system, which CEO Maltman says has been designed by marketers, for marketers. As a result, the tools E Fundamentals offers help train staff in e-commerce, rather than require new skills to be brought into the business to operate.
Through ‘The 8 Fundamentals’ of e-commerce, it’s easy for any company to make huge improvements in their retail model, he says, from best practice presentation, marketing and copywriting to smart pricing and promotions, customer feedback and clear, useful dashboards.
“I want to help brands grow their online sales and profit wherever they are, whatever category they’re in,” says Maltman.
If the figures we started with are anything to go by, that is every category out there.
Company website: http://www.ef.uk.com
Business sector: E-commerce
Location: London and Edinburgh
Number of Employees: 52
Year Founded: 2015