Business optimization in the digital age: insights and recommendations

Economic Annals-ХХI: Volume 181, Issue 1-2, Pages: 83-91

Citation information:
Natorina, A. (2020). Business optimization in the digital age: insights and recommendations. Economic Annals-XXI, 181(1-2), 83-91. doi: https://doi.org/10.21003/ea.V181-07

Alona Natorina
PhD (Economics),
Head, International Economics, Accounting and Finance Department,
Academician Yuriy Bugay International Scientific and Technical University
3 Magnitogorsk Ln., Kyiv, 02000, Ukraine
alyonanatorina@gmail.com
ODCID ID: https://orcid.org/0000-0001-6367-879X

Business optimization in the digital age: insights and recommendations

Abstract. Introduction. Digital transformation and the high level of offline and online competition have a significant impact on business, which emphasizes the relevance and need to implement the successful relevant marketing strategy that includes the search engine optimization (SEO). The SEO increases the business visibility on the Internet in comparison with priority competitors, promotes better communication and interaction in accordance with varied requests of online buyers (customers, clients). SEO is especially important for successful retailers’ business characterized by constant bifurcations in the short and long term.

The Purpose of the presented research is to substantiate the importance of the local optimization of the retailer’s business for search engines to increase organic traffic; to represent insights and give practical recommendations for retailers regarding local optimization of their business in Google as part of an effective marketing strategy; to create the typical valid data micromarking (by the example of the Ukrainian retailer), which will contribute to an advantageous placement in the Local Pack in comparison with competitors, and increase organic traffic and conversion.

Methods. To achieve the purpose, the system of general and special research methods are used, including the logical generalization, analysis, comparison and synthesis. To formulate recommendations for retailers, the following online tools are used: Google My Business (to study the specifics of profile), JSON-LD Generator (to generate the data micromarking), Google Structured Data Testing Tool (to verify the validity of data micromarking). HTML Symbols – Unicode symbols is used to add special symbols in the data micromarking. The program MS Excel is used for visualization and interpretation of data.

Results. Based on the results of a study and analysis of the retailers’ business (namely, Yves Rocher Ukraine cosmetics, which is a part of the world-renown corporation Yves Rocher Group), it is reasonably justified that SEO is an integral component of an effective marketing strategy. It is justified that the SEO aims to increase the organic traffic and conversion by quickly finding the requested store in the search engine and its attractiveness from the point of view of the Internet user (potential online customer of the retailer). It is identified that Google is the search engine that is the most popular in Ukraine according to the results of a comparative analysis of 2010-2020. The main trends in the Internet users’ preferences for the study period is determined. The insights and substantiated practical recommendations regarding local optimization of the retailers’ business in Google are represented.

Conclusions. The expediency and importance of using the developed recommendations are demonstrated by the example of a Ukrainian retailer in the drogerie segment based on the results of the short-term forecasting. The typical data micromarking is created by using the developed recommendations. The implementation of the micromarking will help retailer to increase organic traffic in Google, conversion and CTR, as well as provide the most favourable position for the retailer in the Local Pack block.

Keywords: Google; Business; SEO; Local Optimization; Digital Marketing; Micromarking; Microdata; Organic Traffic; Retail; Yves Rocher Ukraine; Drogerie Market

JEL Classification: L81; M1; M31

Acknowledgements and Funding: The author received no direct funding for this research.

Contribution: The author contributed personally to this work.

DOI: https://doi.org/10.21003/ea.V181-07

References

1. Alford, Ph., & Page, S. J. (2015). Marketing technology for adoption by small business. The Service Industries Journal, 35, 11-12, 655-669.
   doi: https://doi.org/10.1080/02642069.2015.1062884
2. Baye, M. R., Santos, B. De los, & Wildenbeest, M. R. (2016). Search engine optimization: what drives organic traffic to retail sites? Journal of Economics & Management Strategy, 25(1), 6-31.
   doi: https://doi.org/10.1111/jems.12141
3. Dzwigol, H., Shcherbak, S., Semikina, M., Vinichenko, O., & Vasiuta, V. (2019). Formation of Strategic Change Management System at an Enterprise. Academy of Strategic Management Journal, 18(1), 1-8.
   Retrieved from https://www.abacademies.org/articles/Formation-of-strategic-change-management-system-at-enterprise-1939-6104-18-SI-1-454.pdf
4. Hein, A., Schreieck, M., Riasanow, T., Setzke D. S., Wiesche, M., Bohm M., & Krcmar, H. (2019). Digital platform ecosystems. Electronic Markets, 30, 87-98.
   doi: https://doi.org/10.1007/s12525-019-00377-4
5. HTML Symbols (2020). Unicode symbols, entities and codes.
   Retrieved from https://www.htmlsymbols.xyz
6. Iskandar, M. S., & Komara, D. (2018). Application marketing strategy search engine optimization (SEO). International Conference on Informatics, Engineering, Science and Technology (9 May 2018, Bandung, Indonesia), IOP Conference Series: Materials Science and Engineering, 407, 1-4.
   doi: https://doi.org/10.1088/1757-899X/407/1/012011
7. Joshi, M. P., Kathuria, J. R., & Das, S. (2018). Corporate entrepreneurship in the digital era: the cascading effect through operations. The Journal of Entrepreneurship, 28(1), 4-34.
   doi: https://doi.org/10.1177/0971355718810554
8. JSON-LD Generator (2020). Official web-site.
   Retrieved from https://jsonld.com/json-ld-generator
9. Kingsnorth, S. (2016). Digital marketing strategy: an integrated approach to online marketing. Philadelphia, PA: Kogan Page.
10. Meraz, C. (2015). The new snack pack: where users are clicking & how you can win. The Moz Blog.
    Retrieved from https://moz.com/blog/the-new-snack-pack-where-users-clicking-how-you-can-win
11. Murphy, R. (2019). Google My Business Insights Study.
    Retrieved from https://www.brightlocal.com/research/google-my-business-insights-study
12. Natorina, A. (2017). Congruent marketing product strategies of the enterprises. Economic Annals-XXI, 163(1-2(1)), 75-78.
    doi: https://doi.org/10.21003/ea.V163-16
13. Rachinger, M., Rauter, R., Müller, Ch., Vorraber, W., & Schirgi, E. (2019). Digitalization and its influence on business model innovation. Journal of Manufacturing Technology Management, 30(8), 1143-1160.
    doi: https://doi.org/10.1108/JMTM-01-2018-0020
14. Rank Ranger (2020). Official web-site.
    Retrieved from https://www.rankranger.com
15. Schema.org (2020). Official web-site.
    Retrieved from https://schema.org
16. SERPSTAT (2019). Official web-site.
    Retrieved from https://serpstat.com
17. Sousa, M. J., & Rocha, A. (2019). Skills for disruptive digital business. Journal of Business Research, 94, 257-263.
    doi: https://doi.org/10.1016/j.jbusres.2017.12.051
18. Statcounter GlobalStats (2020). Official web-site.
    Retrieved from https://gs.statcounter.com
19. Structured Data Testing Tool (2020). Official web-site.
    Retrieved from https://search.google.com/structured-data/testing-tool/u/0
20. Uberall (2019). Official web-site.
    Retrieved from https://uberall.com/en-gb
21. Vogelsang, K., Liere-Netheler, K., Packmohr, S., & Hoppe, U. (2019). Success factors for fostering a digital transformation in manufacturing companies. Journal of Enterprise Transformation.
    doi: https://doi.org/10.1080/19488289.2019.1578839
22. Zilincan, J. (2015). Search engine optimization. CBU International Conference Proceedings (March 25-27, 2015, Prague, Czech Republic), 3, 506-510.
    doi: https://doi.org/10.12955/cbup.v3.645

Received 4.01.2020
Received in revised form 12.01.2020
Accepted 24.01.2020
Available online 10.02.2020
Updated version of the paper as of 15.03.2020