How can BrandNexity Help You Take Control of Product Data?
By the use of PIM and DAM Platforms
You have great products in your warehouse ready to sell, but they are getting lost on retailer websites, on marketplaces or are buried in Search. Unlike the physical products out in your warehouse, your products on line are made up of data. If that data is old school, your products will struggle to show up and online sales will not grow.
BrandNexity can help you structure and manage your product data so that your products can be found no matter what the channel. Contact us and we will help you make your product data into a company asset. Providing accurate pricing information, sizing, product images, dimensions, availability, product features and other product attributes will boost your online sales and get your products moving off the shelves.
“Having detailed product descriptions is the main differentiator in customer experience. Studies have shown that 30% of the US online adults would prefer shopping from online retailers they have never made any purchase from if the product information on the website is detailed.” – ezinearticles.com
PIM and DAM: An Imperative For Managing A Customer-Facing Product Strategy
A single repository for consumer-ready, trusted, and approved product content that can be made accessible across the enterprise to internal users (brand managers, marketing, account managers) and that also can be made accessible to external channel partners, such as retail distributors and resellers.
As consumers spend more time researching product purchases online, the importance of high quality product content, images and videos becomes paramount for retailers, manufacturers, CPG firms, and distributors alike. In fact, retailers are prioritizing the enhancement of online product content above other merchandising initiatives including personalization, product recommendations, and A/B testing.
“It’s equally important to have a single version of the truth when in comes to product information. Unfortunately, creating and maintaining accurate product information is becoming more difficult, time-consuming, and costly, particularly for large enterprises with extensive product portfolios.” – ezinearticles.com
One Source of Truth
Because the data is coming from one source of truth, manufacturers can control what customers see and ensure that it accurately reflects the brands they own or distribute. Focusing on the new shopping experience — one where the digitally empowered consumer is at the center — means ensuring their products can be found no matter how he or she decides to shop. The new focus is building bonds between brand and retailer. It is transforming commerce and changing the role of product content from an operational burden to the driver of commerce currency. As consumers “click and collect” their way across the web, any brand or retailer that doesn’t have the relevant product content in place is invisible to a digital shopper and risks losing a place in the purchase decision.¹
Detailed Product Information is a differentiator
According to Forrester, detailed product content is a differentiator when it comes to customer experience. Thirty percent of US online adults cite that they would consider buying from an online retailer they had never previously purchased from if the retailer offered detailed product information.
With customer demands for high-quality, consistent product information and content on the rise, a new breed of PIM buyers has emerged. They are the brand marketers, online merchandisers, and product owners responsible for the sales and marketing of finished merchandise to the customer, whether through their B2B retailers or through their Direct to Customer efforts.
“With the growing use of digital, it has become important for every business to communicate consistent branding and accurate product information across the Omni-channel landscape.” – ezinearticles.com
Why PIM & DAM Services?
Most Manufacturers and Distributors have product data and content stored in their ERPs or in disparate spreadsheets throughout their organization. Likewise digital assets like images, videos, and size charts have been stored in a variety of places over time. While these solutions may have served them well in the past, Forrester has observed a considerable uptick in client inquiries asking about how PIM solutions can replace this status quo. Furthermore, in a recent survey, 33% of eBusiness and channel strategy professionals cited that investment in PIM technology was a top priority.²
For most Manufacturers and Distributors, the task of looking at their data from a retail customer’s point of view and then optimizing it for the requirements of all their Channels is a daunting one. Beyond the choice of the PIM and/or DAM platform, how to execute the required changes is generally outside of their internal skillsets
Who's Responsible for Product Data?
- Data Admin
- Product Management
Stats source: Heiler
Product Data comes from many different departments and teams. The above chart shows who in most Brand / Manufacturing Companies who is normally responsible for assembling product data by % of the whole. It’s necessary that all of the data end up in a single source of truth, PIM.
You Need a PIM If you agree with any of the following:
- My product data is not centralized
- I don’t have control over my marketplace pages
- My data is not routinely compliant for online channels
- Data collaboration on spreadsheets is difficult
- Changes to data is a manual process on websites, feeds, etc.
- We have frequent changes to product data
- Time to market is too slow
- We don’t have detailed attributes
- Our data is trapped in our (ERP, Website, Database, etc)
How BrandNexity can help.
BrandNexity can bring governance to your existing PIM or we can suggest a solution that is right for you. If this is your first time considering a PIM, we have a variety of solutions that can work for brands with less than 100 products or 10’s of thousands of items. We will craft a solution that is right for your industry and product mixture.
Some organizations have internal teams that we can train to gather and organize detailed, structured data in to your PIM solution. Other organizations do not have the internal resources. BrandNexity can play the role(s) required in your organization from training to doing the work. We have a seasoned staff of trained USA based data team members ready to embellish your data for optimal online sales.
Once your data has been organized, the job doesn’t stop there. Next is to produce compliant feeds for marketplaces such as Amazon.com, eBay.com, Jet.com, Walmart.com and more.
In addition, search engines like Google, your own Brand retail or wholesale websites, even re-sellers of your products all need and can benefit from fast to market changes.
Your PIM is a centralized repository, that as changes are made, are syndicated at the push of a button to all your marketing channels and sales partners.
The internet moves fast and you need to move fast as well. PIM solves the latency issue within organizations to get accurate product data to market quickly.
¹ For eBusiness & Channel Strategy Professionals The Forrester Wave™: Product Information Management (PIM), Q2 2014 3 © 2014, Forrester Research, Inc.
² Product Content Partnerships: How Walmart & Dr Pepper Snapple Group Met New Demands of Digital Shoppers | SALSIFY