More than 80% new products are listed to the markets with a delay, shows the international statistics. You need to connect to all product data sources to meet the market needs promptly.
A truly advantageous multichannel strategy requires more than a habitual distribution of products to everyone using every available distribution channel. This strategy is about shaping the customer experience and prompting them how and where to seek for your products. It is a common problem that the retailers are often out of resources required to expand the business at the rate they need using multiple channels.
PIM usage will allow you to maintain updated information, manage colors, sizes, specifications and other attributes, add photos, videos and other media data, design your information in accordance with the requirements of target regions, markets, and channels.
Here are 5 reasons to use Brandquad’s system to boost your online sales.
1. Automatic classification of new products
You can create specific rules for your products to be classified automatically. All new products will be moved to a specific category on the basis of the predefined rules. This will ease the process of product data expansion. Same with images – you can link them to different products by using smart rules.
2. Managing product data for similar SKUs
You can structure your product information in a way that will allow changing only specific information fields without changing the whole SKUs. For example, size and the color of the footwear will be changeable fields, while other product attributes will remain the same.
This also refers to language settings. For example, many products may have the same English description for various regions. So you’ll be able to set up the rules to remain such common descriptions for all products under consideration.
3. Easy localization
If you need to create multiple catalogs for various regions, you may have to translate descriptions, but other product features and pics may not require any changes. By specifying the fields that have to be amended you will create localization rules. You will surely save much time, changing only required product fields, instead of amending the whole specs.
4. Support the requirements of various distribution channels
In some cases different channels will require you to update some specific data fields. In general, this is about graphics. For example, one may require 300 DPI photos and of better quality, while the other may use 72 DPI graphics. Bulk cropping and automatic resize may help you to quickly fit into these requirements.
5. Manage quality control in automated mode
PIM is very good at identifying the fields and records that are missing for whatever reason. The tool will prompt you or your team member to fix the records before they will be published. The leading PIM tools, however, start to us AI-based technologies to identify and fix such errors.
BONUS: eCommerce Intelligence
The usage of PIM is not only tied to data import, enrichment and further governance or distribution. In the latest Forrester Wave™ report on PIM market the most promising and market-leading vendors leverage the AI-based technologies allowing better ecommerce intelligence. Gaining insights automatically helps managers to take important decisions and transform product content teams into the teams that actually drive business. So what is the common way of getting the most of PIM using its intelligence tools?
Monitor retailer price & promotions to ensure your products are both competitive and profitable
By analyzing your products’ prices against the competitors in various retailers
By ensuring that retailers adhere to the recommended retail price
Monitor stock availability of products to maximize stock available to shoppers
By analyzing your products’ stock availability against the competitors in various retailers
By receiving alerts on newly out-of-stock products for quick reaction
Monitor retailer virtual shelves to maximize products available to consumers
By analyzing products available in various retailers or by specific brand
By receiving alerts on newly released products of the competitors
Monitor online merchandizing to make sure that consumers can easily find your products
By analyzing search words that shoppers use while searching for the product
By analyzing your standing against the competitors’ products in the top results of retailer’s search engine
Make sure the retailers use the product information, sent to them via PIM export channels
By monitoring data variation between retailers and PIM (names, descriptions, images etc.)
Use metrics share of search by store or by brand and track dynamics to make sure consumers can easily find your products
Monitor ratings & reviews to better understand consumer needs
By analyzing consumer reviews for keys on your products’ strong sides and areas for improvement
By analyzing consumer reviews and ratings of competitors’ products to pick up consumer desires
These monitoring and analysis capabilities represent the minimum analysis product managers need to perform to make sure they’re driving maximum sales and utilize the full potential of the current PIM they use.