Do customers reach your product page, but refrain from purchasing?

Well, here’s a startling projection for you.

Over 50% of online sales will be lost forever if your product information is inadequate!

Consumers today are hungry for an information-driven shopping experience.  They scour every online channel searching for detailed, reliable product information to satiate their buying appetite. Customers avoid buying items with insipid, inconsistent, and shallow descriptions, as they despise the hassle of returning, replacing, or refunding sub-par products, as much as retailers and distributors do.

Enable Sales, Stop Blunders

Product pages across multiple marketing channels are critical sales enablers for brands.  As shoppers hover on these pages, they look for in-depth product information that satisfies their concerns and enables purchase decisions. It is why the pre-purchase stage is the most significant and decisive part of the customer shopping experience.

Failure to edutain shoppers with engaging product information is the most expensive blunder for any business. It negatively impacts brand credibility and trust factor, making the customer leave in a hot second, never to come back again.

Leverage PIM, Get Ultimate Omnichannel Experience 

The omnichannel digital world demands brands, retailers, and distributors to be omnipresent across all online and offline channels.

However, reaching your product page is not a comfortable journey for shoppers. They brave multichannel research, complex navigations, and overwhelming competitor options before landing on your page. Once on your terrain, you must deliver powerful product stories that will hasten conversions. When customers do not find product information that satisfies their quest for the best buy, it immediately turns them off.

To enhance the omnichannel buying experience and drive more sales, customers must subliminally experience the product through compelling specifications, videos, photos, graphics, and descriptions of product benefits and features. They should be in a position to evaluate, compare, and make favorable buying decisions.

Hence, retail and distribution companies deploy effective Product Master Data Management (MDM) solution on their Product Information Management system (PIM) that provide a single version of the truth when it comes to product data. Collecting and harmonizing data from siloed teams, PIMs helps deliver consistent, engaging product stories across all channels. An effective PIM is critical for seamless omnichannel customer experience.

Read: Unpuzzling Product Information Management(PIM) with MDM

Integrate PIM with Product Data Syndication  

Aggregating, managing, and syndicating product data in a secure, consumable format is imperative for online retailers and distributors to stay competitive.

Centralizing and managing product content, PIM is an internal-facing system that aggregates, enriches, and ensures the quality of product data. Product data management systems do not export data externally to suppliers, retailers, regulators, mobile applications, and web applications.

On the other hand, Product Data Syndication (PDS) facilitates quick, seamless, and efficient distribution of product information to external channels and marketing ecosystem partners. Robust data syndication is highly beneficial to online retailers and distributors, as it unlocks new revenue channels, fastens new product addition, and increases the appeal of merchandise.

Integrating product MDM with a seamless Product Content Syndication (PDS) system is the best way to enable sales and revenue by sharing consistent product and brand stories across multiple channels. This ultimate combination ensures optimized, up-to-date, high-quality product data distribution to the right place, at the right time, in the right format.

Resolve Challenges, Reduce Cost

Retailers, vendors, distributors, and social channels demand product data in customized formats and categorizations. Sharing compliant and consistent product data with channel-specific attributes is quite a tedious task.

Product data management and syndication address this challenge by streamlining, customizing, and disseminating consistent and contextual product data to e-commerce websites, mobile applications, and social channels.

Whenever a channel changes its description format, pixel strength, or character limit, the integrated system edits the customization and redistributes product data. By optimizing outgoing information, workforce, and IT infrastructure, this system reduces running cost, opportunity cost, and disapproved product cost.

Other Benefits of Integrating Product Data Management and Syndication

The data feed management capabilities of PIM and PDS enable retailers and distributors to create optimized feeds and export enriched product information from PIM to sales channels. It also increases product visibility during the information exchange process by providing status updates on new data and feature additions.

Product catalogs can be tailored, syndicated, and previewed before sharing online. Monitoring product performance across multiple channels is a breeze with integrated product data management and syndication systems.

Conclusion

Nine out of 10 consumers consider compelling, detailed, and consistent product information as a crucial factor in their buying decision.

Retailers and distributors must leverage robust product data management and syndication tools to resolve data distribution gaps wherever required. Accelerating time to market, delivering consistent omnichannel customer experience, and increasing multichannel customer conversion, the integrated product information management and syndication system boosts the ability of a business to increase sales and revenue.

Transforming Customer Journey with Connected Data – Watch On-Demand Webinar

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Master Data Management Consulting

Dinesh Kesavan

Dinesh Kesavan

Dinesh is a passionate techno-marketer who understands the importance of technology in every facet of business and help customers to solve their business challenges with technologies (software & data) through marketing campaigns and programs.
Dinesh Kesavan