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Agile Product Feed Management

Most Americans shop online. A majority of these online customers start their product search on search engines, market places, and retailer websites. Visibility and discovery are two of the most critical elements when it comes to competing for mindshare of potential customers online, hence companies must make the necessary investments in modern technology to ensure great product content is continuously fed to the right sales and marketing channels, at the right time. Effective product feed management involves providing complete, accurate, and timely product data that meets the individual requirements of various channels. Channel-specific data requirements keep evolving, companies continue to adopt more channels to sell through, and enterprise product data is constantly in a state of flux (i.e. new products are introduced, current ones are updated or obsoleted). Legacy operations typically used to manage product feeds involve high cost and complexity and often slow down a company’s ability to provide relevant product feeds to sales channels. Specialized product feed management tools and service providers play a key role here helping companies overcome many of those challenges resulting in a shorter path to purchase – leading to more conversions. It is also a best-practice for digital winners to leverage a modern Product Information Management (PIM) tool that helps them master and share product data efficiently with employees across the company and with feed management tools and other consumers of product data.

In this whitepaper, we discuss in detail the importance of optimized product feeds, outline common product feed management issues and review how a product feed management tool like Feedonomics helps overcome these challenges. We also review key features of a Product Information Management (PIM) tool that helps create consistently high-quality product data at scale so it can be shared with sales and marketing channels. Finally, we propose a reference solution architecture that combines PIM and Feed Management tools to maximize content and feed management related task automations as well as orchestrate multi-channel order management.


The Importance of Optimized Product Feeds

Product data feeds are an essential part of eCommerce. It is the method in which your data is sent to shopping channels and marketplaces where you want your products listed and found easily by consumers when they need it. The figure below illustrates just how many consumers look up product data on their devices even when they’re shopping in a store.

There are many crucial elements that make up a successful shopping feed. If you have 20 total products, you could of course optimize your products one by one manually, but what if you have thousands or millions of products? Therefore, a comprehensive feed management platform is the only way to truly manage and scale up your eCommerce campaigns.

Optimizing your product feeds is a critical part of succeeding on Amazon, Google Shopping, Walmart or on an auction site like eBay. Why? At the highest level, search algorithms often match the keywords users type into their search against your product attributes, giving extra weight to your title, category and description. Product feed optimization is key to a higher CTR, raising the average order value, increasing attachment rates, and ultimately getting the best performance out of your campaign.

The recipe for online product listing success:

  • An optimized feed – You want to ensure your online ads stand out with clear understandable wording that ticks all the boxes based on what the person shopping is searching for. Your ad copy must contain attributes that paint a picture of what they will be purchasing, such as color, size, material, gender, price, brand, and more.
  • SEO friendly – Whether it’s Google, Amazon, Facebook, Walmart, or eBay, all these large online shopping platforms want to give their shoppers the best possible user experience. An optimized product feed often comes with huge rewards for the advertiser such as higher impression share, a lower cost per click, and a higher conversion rate.
  • A healthy account – If you have ever encountered a Google Merchant Center disapproval or error, you will understand the frustration this can cause. Every online marketplace adheres to a strict set of rules. Amazon uses Order Defect Rate (ODR) to measure a seller’s ability to provide a good customer experience. Of course, Amazon sellers will want to avoid receiving a high ODR, which could lead to a suspension or even termination. Being able to flag, diagnose, and resolve errors quickly helps maintain a consistent revenue flow. Example – Having an account suspended over Black Friday weekend could be catastrophic for your company.

Responsive Shopping Campaigns

An ad campaign will suffer if you do not have an optimized product feed. A product feed is the cornerstone of any successful campaign. Without proper feed optimization, it’s unlikely your products will show up at all, and if they do show up, it’s often at the expense of very high bids, because your products are not seen to be as relevant.

Best Practices:

  • When you structure your product attributes similarly to the words and phrases that users are looking for on different platforms, it increases your ad’s relevancy.
  • Product title, description, and categorization are critical here. You’ll want to ensure that your product titles contain attributes like brand, name, size, and color so that your item surfaces in product searches.
  • Provide high-resolution images and make sure to use the optimal height and width for the platform where you’re advertising. A white background to make your images pop is best.
  • For some products, you’ll want to provide additional images of the item from a different angle to capture special details.
  • Ensure the product specs associated with the item are described accurately and thoroughly.
  • Categorization is key. For example, Walmart assigns products to specific categories, and within each category, there are sub-categories. Also, attributes for products are required. Make sure that product categories, sub-categories, and required attributes are set up correctly so there are no errors or unpublishing issues. Customers who browse or use filters when shopping won’t be able to find your products if you’ve miscategorized them.

Better Return on Ad Spend (ROAS)

An optimized feed allows you to enhance the core component of a Shopping campaign, which is relevancy. A relevant campaign needs to meet or exceed the associated platform’s algorithm. This will influence the amount of impressions share one advertiser will receive over another, as well as the cost per click and more importantly, the number of clicks the ad will receive.

With regards to Google Shopping, if your campaign “pleases” the Google algorithm, it can lead to:

  • Higher impressions share
  • Increased click-through-rate (CTR)
  • Lower costs

Similar to Google Shopping, pleasing the algorithm on marketplaces such as Amazon, Walmart, and eBay require the following considerations to get the most out of your marketplace SEO:

  • Better product data for relevancy
  • Competitive price point
  • Product availability
  • Quick turnaround on order fulfillment
  • Low or free shipping
  • Customer reviews

Combining your traditional PPC optimizations with marketplace best practices, should give you the edge against your competitors.

Faster order management and fulfillment can help with the above best practices situations. How so? Product prices are updated constantly, new products will be added in, and old or seasonal products are discontinued. If you don’t revise your product feed, then you are at risk of receiving feed errors or disapprovals.


Common Product Feed Issues


Some common product feed issues include:

  • Duplicate titles
  • Titles with missing information
  • Whitespace issues
  • Rogue HTML
  • Not listing full catalog (e.g. only top sellers listed)
  • Missing alternate image angles/views
  • Poor image quality (resolution, size, etc.)
  • No associated products

When your product data is clean and optimized, there are no rogue HTML or missing values, and it is correctly mapped to the specifications of each channel.

The following is a list of common Google Merchant Center errors:

  • Automatic item disapprovals due to policy violation (e.g. “Dangerous Products” policy violation where a site sells guns, gun parts, and explosives)
  • Product pages cannot be accessed
  • Missing images
  • Invalid price data
  • Incorrect product identifiers
  • Missing GTIN
  • Missing shipping information
  • Temporary item disapprovals due to incorrect availability
  • Missing required attribute: color
  • Missing required attribute: size
  • Multiple sizes for one item
  • Incorrect shipping costs
  • and so on…

Unresolved Google Merchant Center (GMC) errors and disapprovals can result in thousands of dollars of lost revenue per day. For a company that lists and sells hundreds or thousands of items, it is a daunting amount of work to monitor product listing errors and warnings on those channels on a daily basis. Furthermore, those errors due to bad data on Amazon could result in a delisting of products, fine or even suspension. Updating price, inventory, and other content for those items routinely also requires a significant amount of work. Another big challenge is the task of orchestrating orders coming in from multiple sales channels. Companies often struggle with timely entry of channel specific orders into internal systems (online store or ERP or OMS) and timely update of order status on various sales channels – these operations are typically manual and error-prone.

Even if product feeds are optimized, there are other data challenges that companies routinely deal with:

  • Incorrect data: For example, wrong price, availability, or dimensional data. These will contribute to wrong product shipments, excessive returns, customer dissatisfaction, and lower profits. Other issues include poor image quality, insufficient number of product images, etc.
  • Delayed product introductions: It’s not uncommon for companies to list only a subset of their catalog online due to data availability and setup issues. For example, inability to launch new products or promotions in time for a Black Friday leads to lost sales.
  • Inconsistent data across channels: Customer expect omni-channel consistency and will avoid or punish companies that don’t deliver it.
  • Inconsistent data across brands or categories: In the same company, titles and descriptions across brands and/or categories are often constructed differently. The availability of commonly searched product specifications and digital assets also varies widely across product categories. This makes it harder for customers to find and purchase products online.

A lack of visibility into these data issues and control over what data gets distributed to specific channels is a common issue. These challenges result in a variety of problems including lost sales, stockouts due to poor inventory and availability management, and costly operations.


Feed Management Tool to Tame Cost and Complexity


A product feed management tool like Feedonomics can address many of these problems. The tool streamlines the creation and management of optimized product feeds to help save time and money. It will also sync the latest price and availability data with all channels on a timely basis. With Feedonomics’ proprietary tool (FeedAlerts™), you can receive notifications for Google Merchant Center errors and warnings daily. Feedonomics can also help with automated order management. The platform will automatically pull orders from each marketplace channel and deliver them to your system in one dashboard. Everything is synced to your online store (or another system like ERP or OMS) so that you can efficiently manage Marketplace inventory. This will prevent oversold situations and ensure that product availability is accurate.

Many companies don’t have a centralized repository of product data. So, preparing product feeds, including via getting the data from your website, can be tricky. Feedonomics can pull product data from any feed file, shopping platform, product content platform, or custom site with any kind of schedule. It is a low-cost way to ensure your products are at the “eye-level” on the digital shelf.

  • Data Ingestion: We can pull data into our system in nearly any format – SFTP, FTP, URL, JSON, Google Sheet, or custom API if needed.
  • Data Joins and Mapping: We can join any dataset together with a common key (i.e., ‘product_id’). This allows us to merge data from disparate systems, like inventory, margin, or performance data, into the main catalog. We can then map these datasets to any field required by a channel. For example, we can create rules in the feed to map product categories that map to channel specific product categories.

FeedTelligence

FeedTelligence™ is a powerful keyword recommendation tool. It will automatically compare your Google Shopping feed to actual converted search terms and allows you to see missing words for title and description optimization on a per-SKU basis.


FeedAlerts

FeedAlerts™ is an easy way to receive notifications for both Amazon and Google Merchant Center (GMC) errors and warnings. Unresolved Amazon or GMC errors and disapprovals can result in thousands of dollars of lost revenue per day.

Feedonomics can set up FeedAlerts™ to:

  • Monitor import/export errors
  • Automatically check your Google, Amazon, and other accounts twice a day
  • Set thresholds on an overall and individual error basis
  • Send a notification when you exceed an error threshold

FeedAlerts™ is a game-changing tool that will save your company time and money – fewer errors will result in more active products and higher sales.

You’ll receive an email with a detailed report listing the errors with links. If the errors are feed-based, Feedonomics’ 24/7 support team will fix them.


Feed Optimization and Order Management helped a retail client achieve a 260% increase in revenue on Amazon and a 290% increase in revenue on eBay.” – Feedonomics


PIM, For High Quality & Consistent Product Feeds


As discussed earlier, poor quality product data is a huge problem in the digital world. Data inconsistencies across channels makes the bad data problem worse. Disparate legacy systems and spreadsheets typically used to manage product data leads to a variety of product data management challenges. Centralizing product data in a PIM system can help feed clean and complete data to sales channels. A modern PIM provides the necessary data visibility, control, and scalability to create great product feeds that can be leveraged by multi-channel shopping campaigns to deliver a better ROAS.

A PIM (Product Information Management) is an enterprise data management solution that: 

  • Centralizes product data required to support commerce operations
  • Simplifies generation of compelling, consistent, and high-quality product data
  • Synchronizes product data with internal systems, marketing and sales platforms, customers, and partners
  • Scales up data acquisition, enrichment, and publishing efforts

Noted below are some key benefits of a PIM solution:

Single source of trusted data: PIM creates a single source of trusted product data by aggregating it from multiple sources, and by cleansing, enriching, governing, and maintaining it consistently.

High-quality and consistent data: Product and variants management, data inheritance, data validations, quality checks, completeness checks, bulk edit features, rules-based auto-enrichment, approval workflows, and role-based permissions ensure you create and deliver consistently high-quality data.

Integrated digital assets: PIM helps you onboard, link, control, and share product assets with digital channels. PIM simplifies the task of associating imagery, videos, PDFs, and other digital assets with product data.

Support for product feed management: Great product feeds to search, social media, and retailer websites will ensure customers find and purchase your products. PIM holds high-quality and SEO friendly data that can then be fed easily to product feed management tools to help drive traffic and sales from multiple digital channels.

eCommerce accelerators: Manage rich product data systematically to enables navigation and exploration features critical for conversion on eCommerce sites. These features include intuitive categories and sub-categories, helpful product names, facet navigation, cross-sell compatible products, comparison, etc.

Business agility: By integrating PIM with other enterprise systems, trusted product data can also be shared efficiently with internal analytical and operational systems, thus reducing manual and redundant efforts. This will also make the enterprise more agile and responsive when it comes to implementing new digital initiatives (for e.g., launching a mobile app).


Reference Architecture for Agile Feed Management and Order Orchestration


Product feed management combines the creation of product feeds, optimizing feeds to meet channel specific requirements, syndicating feeds to multiple channels, and reporting and recovering from feed listing errors with the key goals of maximizing online leads and sales. Additional scenarios include automatically managing inventory levels across channels, aggregating orders and inputting them into an internal order management system for processing, and sending out order statuses to various digital sales platforms.

A best-practice reference solution architecture combines the power of a PIM and a feed management tool for optimal product feed management and multi-channel order orchestration tasks. Although an eCommerce platform is a convenient option to provide product feeds to a feed management tool, it is not the best option. Often times, data in an eCommerce site is wrong, incomplete, or dated. Add to that the fact that not all products may be listed on the eCommerce site for technical or data quality related issues. An eCommerce tool (and an ERP system too) is not suitable for proper data management and this means that product data issues are not fixed in a timely manner. A PIM is the right tool for product data management, and hence an integration between the PIM and a product feed management tool like Feedonomics is a better solution architecture for digital success.

Listed below is a proposed reference solution architecture for efficient product feed management and order orchestration.


This integrated solution provides many benefits:

  • delivers high-quality product feeds consistently to multiple sales channels
  • feeds latest price and inventory data sourced from ERP or other system
  • speeds up creation of product feeds that contain correct, complete, and SEO friendly data (via completeness, content automation, bulk edit, workflow, and other features)
  • provides product data intelligence (e.g. keyword suggestions, listing errors, catalog level analytics) and alerts to maximize active product listings, findability, sales, and ROAS
  • automates various manual tasks typically associated with multi-channel order management
  • provides greater visibility, control, and agility over product feeds, orders, and channel analytics

“Retailers need to be more aware and responsive than ever to when and where their potential customers are making decisions throughout their ‘always on’ shopping journey.”- KPMG


Every industry is getting disrupted, and eCommerce is here to stay. Digital winners are using technology and integration to improve their core business and break into new markets and new customers. They’re streamlining user journeys, telling better product stories, optimizing for mobile ecommerce, personalizing customer relationships, getting products to market faster, and driving operating efficiencies across business support functions. Are you going to be a digital winner?


Contact Us


The Feedonomics and StrikeTru teams have a track record of successfully implementing Product Feed Management and PIM solutions across industry verticals. For more information or to discuss how we can help, please contact Brian Roizen at brianroizen@feedonomics.com or Vik Gundoju at vik@striketru.com.

Modernize how you manage product information using a PIM system

 

IT-Modernization-2

Customers need to make informed decisions before they buy any commodity. Before a purchase is made, a customer wants to know how the product will be of benefit to him or her. They want to be sure of the features and they are keen to know if it will truly solve the problem they are purchasing this product for. They also want to be sure the product specifications meet their requirements. Providing rich product information is key to converting sales and keeping loyal customers.

 

Unfortunately, most companies struggle with managing and providing the right product information that customers demand today. Bad or inadequate data results in poor customer experience and lost sales opportunities. For example, with a shabbily written product description, a company puts its designers, merchants, marketers, sales managers and product managers at risk of misinterpreting the product details. When product information is not properly synchronized across the enterprise, different departments interpret it wrongly and customers might end up buying a product which is not exactly what they wanted or thought they’re getting.

 

Product Information Management (PIM) is a direct and modern solution to tackling the issues raised above.

 

Why you should use PIM to organize Product Information

Traditionally, product information has been managed using software like Enterprise resource planning (ERP) systems in large firms or in excel spreadsheets or home-grown systems in smaller firms. A PIM (Product Information Management) is a more detailed, focused and targeted means of managing product data for company operating efficiency. PIM enables the centralization of product data from internal and external sources to help provide an exceptional experience for the buyer. Legacy systems are inflexible and often prevent a company from creating rich product data experiences for its customers.


it-modernization

Consistency in product information is key to acquire and keep loyal customers. With advancements in internet and stiffer competition, it is easy for customers to go to the next online shop if they observe inconsistencies or gaps in information such as product descriptions and features. Managing product information using PIM is the modern way of organizing business online. PIM provides consistent details, better quality and provides all the answers that will keep the customer glued to you. PIM is best used for when there is a high quantity of products and product data, diverse marketing funnels and sales channels, lots of suppliers and a large volume of product data management needs on an ongoing basis.

 

PIM also harmonizes the information between different sectors of the business. It keeps team members, stakeholders, partners and customers informed as the status of products and services change. PIM communicates these changes fast so as to increase efficiency, decrease time to market, and increase sales. PIM is easy to use and integrate and eliminates over-reliance on spreadsheets. It is very scalable and centralized at the same time and it helps produce accurate product data that stays consistent over time as it establishes a central source of information which stays true. Also, by using PIM, a company can provide a compelling product and customer experience that can accelerate sales.

 

PIM is a modern way of doing business efficiently as it helps better manage risks and lower costs. This increase in efficiency makes work a lot more fun, increases worker’s productivity and creates more wealth for the company.

 

Use PIM to scale your product counts and fuel digital transformation

In a world of digital revolution, businesses all over the world are doing more with less. Digital Transformation for your business literally means adopting the use of new digital systems to aid your business processes, and ace your sales! This could be you, only if you knew how. Guess what? You are about to find out.


USE PIM TO SCALE YOUR PRODUCT COUNTS AND FUEL DIGITAL TRANSFORMATION
 

A system called PIM, which means Product Information Management, is one of the most recent and effective systems used to collect, polish and distribute content (which could be anything related to all kinds of products or services), to various parts of the world using the internet. A unique feature of the Product Information Management system is its compatibility with all kinds of data sources and systems, both online and offline. Deploying it is literally a Digital Transformation for your business.

The Product Information Management system provides centralized data and a general facelift for the buying experience of your customers.

 

Here’s why you should consider using Product Information Management for your business

  • The number of sales that happen on the internet every day is on a continuous and swift rise. The best time to take advantage of the rise is now. Most businesses are now operating on a digital platform, but that is not enough to stand you out above competition. Automation is key, so you need to the right systems working for you. With Product Information Management enabled commerce platforms, you will take every prospective buyer that visits your website through a detailed and user-friendly buyer journey, maximizing the chances that the prospects are converted into buyers!


pim-to-scale-skucounts-2

  • Many of the existing systems used to organize and keep data are not fit for agile business processes. This rigidity and complexity make it very difficult for businesses to use alternatives such as multiple excel spreadsheets and legacy systems, to provide an impeccable customer experience and drive incredible sales. Spreadsheets could be difficult to collate and edit especially when you are preparing your products. However, a Product Information Management system allows you to do mass editing, data validation, and much more through the use of a centralized system that collects and collates all kinds of data from different sources. This digital transformation will definitely lead to Customer Satisfaction, and with ease!
  • The amount of time it takes to take a prepared product through ERP, sales and marketing systems for approval, before it is considered ready for marketing and selling is always long. Sometimes, it takes weeks! Say hello to PIM, who is going to speed everything up. Product Information Management system reduces your product’s time to market.

 

PIM can increase your product count, take you global, and even reinforce the credibility of your brand. When the process of preparing your products and giving customers an impeccable, high quality presentation is made easier, you can take on as many products as you want.

 

The adoption of a modern Product Information Management system in your business will not only make your processes easier, but also put your business in the forefront of companies that are taking advantage of the Digital Transformation wave sweeping the business sector.

Product Content Localization Tips Webinar Recording Now Available

The webinar “3 Tips for Launching & Enriching Global Product Content” was held on Sept 19th, 2018.

How can companies “right size” their product content localization strategy? How can they provide customers a compelling product experience on the web and other channels? What do companies need to do to accelerate the deployment of localized content globally?

Webinar recording

This webinar explores approaches to taking product content global, discusses how PIM and Translation automation platforms can be used to accelerate content localization and deployment across global sales and marketing channels, and provides tips that companies can use in their own content localization projects.

StrikeTru Co-Hosting a Webinar on Product Content Localization for Global Markets

StrikeTru will be co-hosting a webinar “3 Tips for Launching & Enriching Global Product Content” on Sep 19, 2018. Harry Singh will co-present this webinar with our partners Nick Panagopoulos from Translations.com and Frank Verdeja from Akeneo.

3 Tips for Launching & Enriching Global Product Content

Below is a copy of the official webinar abstract.

3 Tips for Launching & Enriching Global Product Content

Nick Panagopoulos, VP Global Strategic Alliances, Translations.com
Harry Singh, Partner, StrikeTru
Frank Verdeja, Customer Success Manager, Akeneo

In today’s global economy, offering product content in multiple languages is a necessity. Simply having and translating product content is not enough. To compete globally successfully, you must have a strategy for your global product content. Join this webinar to learn more about:

– Rightsizing Your Localization Strategy
– Delivering a Compelling Product Experience
– Accelerating Your Global PIM Deployment

This webinar is designed for marketers and product managers who are responsible for authoring, managing, and distributing product content in multiple language for multiple regions across the globe.

Who should attend:

– Product Managers
– Product Marketers
– Technical Publications Managers
– Marketing Managers
– Marketing VPs

To register for the webinar, click here.


 

StrikeTru markets and sells a Translation Connector (Akeneo2GlobalLink) that links Akeneo PIM to Translations.com’s GlobalLink Technology. This connector helps global manufacturers and retailers accelerate the translation and deployment of high-volume product content stored in a PIM system to multiple regions across the globe.

For more information on the translation connector, click here.

The Power of Digital Asset Management (DAM)

Digital assets are everywhere on websites; these could range from images, to videos and PDF documents. Nowadays, being able to manage them correctly is critical in an eCommerce world. A perfect way to have control over such important information is through the use of a DAM or Digital Asset Management system. Now you may be asking yourself, what is Digital Asset Management?

 

What is Digital Asset Management (DAM)?

DAM is a system that allows your business to organize, enrich and distribute digital assets from a centralized location by applying metadata. Digital Asset Management solutions come with features such as powerful imports and exports, as well as powerful searches.

 

Why DAM?

When considering a Digital Asset Management system you should consider these questions: Do you typically have images stored on desktop files and struggle to find them? Is it a challenge for you to include them on the website? Is it causing you product launch or sales delays? As a company, you definitely do not want to sell a product online without a picture or video or spec sheet and you want to be able to find digital assets quickly so you can use or reuse them. Within a DAM, you are able to set up folders, filters and permissions that allow different groups in your company to collaborate more efficiently in managing and distributing digital assets. When enriching data, you can decide on different digital asset characteristics that makes them be easily searchable. All in all, a DAM helps make your products more attractive to the customer and provides them the best shopping experience out there.   

 

Benefits of a DAM

A Digital Asset Management system allows you to:

  1. Centralize your assets for easy access
  2. Reduce asset search time
  3. Increase efficiency and team collaboration
Digital Asset ManagementSource: GlobalSpec.com

Product Information Management and Digital Asset Management

 

What is a PIM?

A PIM helps a company manage all of its product information and allows them to decide how to present products to the public. PIM can feed hiqh-quality product content to store, eCommerce, mobile, print, and social media channels. PIM systems are an excellent fit for retailers,  manufacturers, and distributors that find it hard to extract and combine the right information to present products easier. Lastly, PIM minimizes inaccuracies and gives your customers an easy and trusted purchase experience.

 

What is a DAM?

A DAM focuses on digital assets and associated data, and not on product data as in the case of PIM. With a well established DAM system, images and operations are easier to manage and control. DAM systems are critical for companies with a lot of digital assets that need to be accessed by multiple groups within the company and also shared with customers and trading partners. It may be typical for your Marketing or eCommerce manager to spend hours looking for the right digital asset; which can cause process delays. With a DAM, you can cut down this time spent searching for assets (or re-creating them) and use it for better purposes.

 

PIM and DAM Integration

 

Why should I use both PIM and DAM?

While a PIM and a DAM share some similarities, they differ greatly and are a smart investment for companies that want to improve their business performance. PIM is designed to manage and centralize all product information; DAM manages and centralizes images, logos and videos, PDFs etc. It is important to note that such images, logos and videos are also part of the product information that is useful to customers to help them search, evaluate, and purchase products. The combination of both will dramatically decrease the time it takes to prepare product data for selling across channels. A decrease in such time spent will decrease the time to market your products and increase your marketing ROI.

digital_asset_managementSource: FinancesOnline.com

 

For best practices and assistance with how best to integrate PIM and DAM systems, feel free to reach out to us. We are here to help! StrikeTru has a history of positive outcomes and customer satisfaction. We look forward to assisting you and helping you take your business to the next level.   

Product Information Management (PIM) Magic

 

 

A short introduction to the world of PIM

Product Information Management (PIM) refers to collecting and polishing product content and distribution of that content. PIM can be considered a strategy or a solution to several companies. The basic concept of PIM is to store data regardless of where it comes from (Excel spreadsheets, internal systems like ERP and PLM, external systems like 3rd party data pools, digital asset drives, etc.) so that it can be centralized and maintained to provide a better buying experience to the customer.

 

Why PIM?

If you want to sell a product you need to present it well and consistently. Poor quality, missing details and unanswered questions will direct your customer to the competition. Nowadays, with technology all around us, individuals tend to do some prior research of a potential product on their own. In fact, a research made by CEB Marketing demonstrated that an average customer completes at least ½ of purchase decisions before engaging with a sales representative. Due to this, PIM helps you gain competitive advantage with an effective eCommerce platform that your customers will enjoy visiting again.

 

Product Information Management Magic

 

Benefits

Expand your product offerings:

It is said that in the business world Excel is extremely critical and helpful when managing data, but how many of you have felt frustrated and overwhelmed with so many spreadsheets to use or manage? Preparing products can become a nightmare when there is too many information to take into account. Thankfully, with Product Information Management (PIM), we are capable of centralizing every aspect and detail of a specific product by importing data from different platforms like Excel or an ERP. Centralized information with PIM allows one to perform actions like bulk edits and data validations that result in a better and richer product presentation to the customer.      

 

Decrease time-to-market:

Decrease time to market refers to the time it takes for a particular product to be recorded in your company’s ERP and sales and marketing systems so that it is then ready to be marketed and sold. Unfortunately, it can take up to weeks with legacy systems causing you to delay sales. In addition, within an ERP or an Excel spreadsheet it can sometimes be difficult to locate and include every detail in order to have a high quality product. In the business world, it is sometimes said that time is currency; thankfully, PIM speeds the process up.  

 

Build a uniform & high quality product experience across channels:

When dealing with a plethora of products and product characteristics, it is common for businesses to have channel specific teams. For instance, there could be a team that focuses on the website, another team on Amazon and finally another one on Ebay. Such teams are managing the same data but no one really knows which one is right or which one is more important than the other. This can translate into inconsistencies like images and descriptions that can potentially confuse the customer and have him/her walk to the competition. With a Product Information Management (PIM), everyone gets their hands on the same data allowing consistency to take place. Once you establish consistency, then you are capable of enriching that data and turning your customer’s experience into a high quality product experience across channels.   

 

Go global:

Have you ever thought about expanding globally? Sharing your great business with individuals from other countries? Operating a website or an Amazon store in Germany, Canada or any other country is made easy with PIM. If selling in Europe, you want the right localized information (language, currencies, units of measure, etc) for your target audience; which ties back to building trusted, high quality product data for use across channels and geographies. PIM helps you create, manage, and port localized product content with ease.

 

Increase your sales:

When tying everything that was previously discussed together you will definitely notice an increase in your sales. Best practices like consistent titles, description and pictures make a big difference. If your customer’s search process is easy and consistent, you will accelerate their path to a sale. In addition to rich data, PIM helps provide relevant recommendations (upsells, cross-sells, etc.) to the customer which increases product attachment rates and average order value. Lastly, a Product Information Management (PIM) will help you to rank well and have good visibility on search engines. As we all know, more visibility equals more traffic, which equals more sales.     

 

To learn more  about PIM and how StrikeTru can help you visit us here!

Product Information Management (PIM) BenefitsSource: https://pim-auswahl.de/en/

Announcing the availability of StrikeTru Furniture PIM solution

We’re proud to announce the availability of “StrikeTru Furniture PIM”, an industry specific product information management solution for furniture companies.

PIM for Furniture

“With StrikeTru Furniture PIM, we provide a great solution for managing digital product content and deploying it across all sales and marketing channels”, said Harry Singh, Partner of StrikeTru. “We built this solution based on inputs from our furniture clients and our experience in the industry. We developed several features designed to help furniture retailers create, manage, and disseminate high quality and consistent product information across all their digital channels”.

Our solution is comprehensive and tackles a range of business requirements including vendor data onboarding, product content aggregation from multiple data sources, flexible product data modeling and data management (variations, packages/bundles, merchandising options like up-sell, cross-sell, etc.), digital asset management, and automatic updates of eCommerce and other sales and marketing applications.

Powered by Akeneo, built-in connectors to commerce and cloud platforms

StrikeTru Furniture PIM is powered by Akeneo PIM. Akeneo is the leading open source PIM product in the market, with over 150 enterprise edition deployments and thousands of community downloads globally. It is a very user friendly and feature-rich PIM software that is a “must-have” tool for modern IT organizations seeking to navigate today’s digital commerce trends in the furniture industry.

Furniture is one of the fastest-growing segments of U.S. online retail. Internet, big-box, and traditional furniture retailers are stepping up online sales. Whether you are a national, regional, local, or online furniture store, or whether you are niche, or high-end luxury, or discount furniture retailer, the StrikeTru PIM solution helps you establish a strong digital presence and align your online and store experiences to drive growth. Key benefits include:

  • Launch products faster via integrated product content management.
  • Deliver cross-channel consistency – selection, content, pricing, etc.
  • Improve site search & selection with high quality, granular content curated in PIM.
  • Increase efficiency by providing real-time, enterprise-wide visibility into product data flows.
  • Lower content operations cost and complexity by modernizing IT.

Partners & Prospects Are Excited

“Our partners and prospects are excited about the StrikeTru PIM solution for the furniture industry and what it can do for them. We showed some of the features to a few partners and prospects, and their feedback has been great”, says Harry Singh. “We are excited about StrikeTru Furniture PIM solution and think it’s the most versatile PIM solution to address the product content related pain points of the furniture industry.

For more information, click here or contact sales@striketru.com.

Back when content marketing was taking off in 2013 is when StrikeTru started delivering content solutions for marketing and e-Commerce!

striketru-5-year-anniversary

As StrikeTru celebrates five years in business, we take this opportunity to thank all those who contributed to our success and prosperity. Over the years, we have implemented Product Information Management, Digital Asset Management, Web Content Management, eCommerce, and Identity Data Management solutions and services. We had an opportunity to work with some loyal and supportive clients across retail, manufacturing, and distribution sectors and with some wonderful partners including software companies, cloud-computing providers, eCommerce agencies, and IT consulting firms. We also want to thank our present and former employees, investors, friends, and families. We could not have come this far without their hard work and support.

As we take the time to celebrate our accomplishment, we also look forward to new opportunities and to continue serving our valued customers.

Open Source PIM: Case Study on Product Data Challenges at a Global Retailer

open source PIM

At the 11th MDM & Data Governance Summit held Nov 8-10 in NYC, StrikeTru co-presented a case study on how the Akeneo enterprise-grade open source PIM helped overcome product data management challenges faced by SHOP.com, a global internet retailer. The MDM & Data Governance Summit, organized by SourceMedia (publishers of Information Management), is a leading IT industry event that provides MDM related insights and best practices as well as quality networking opportunities for data management professionals of all levels, software vendors, and consultants. The topic of StrikeTru’s session was “CASE STUDY: Enterprise-Grade Open Source PIM – An Important Option for Modern IT”.

The Open Source PIM Option

The session was opened by Vik Gundoju (a Partner at StrikeTru) who discussed the key business reasons why enterprises must move from complex and costly legacy system driven product information management operations to simple, PIM-driven operations. Vik pointed out the underlying product data management challenges that a modern enterprise PIM solution addresses, and the significant benefits that are available to companies that choose to adopt enterprise-grade open source software solutions like Akeneo PIM. He reviewed why enterprise-grade open source distributions provide modern IT organizations the best chance of helping reduce costs, operate more efficiently, and gain quick access to innovations.

Akeneo PIM Case Study

Kyle Christiansen (an Enterprise Applications Architect at Market America / SHOP.com, a leading global Internet Retailer) presented next on why SHOP.com chose to implement a modern PIM solution and reasons why they chose Akeneo PIM. He reviewed in detail the various use cases implemented by PIM which served to highlight Akeneo’s capabilities including: master, reference and metadata management; digital asset management: data governance: marketplace connectors; and product data synchronization with ERP, PLM, sales, and marketing applications. Kyle also pointed out the big wins that Akeneo delivered to his enterprise and these included much improved enterprise agility, product data consistency and portability, enhanced productivity, and IT system consolidation related cost savings. He concluded his presentation by listing in what specific ways SHOP.com will leverage Akeneo to simplify how they handle their digital commerce and compliance requirements.

*****

Both presentations were received very well by the attendees, who had insightful questions and comments both during and after the presentation. The joint presentation describing why enterprises should consider PIM, benefits of enterprise-grade open source distributions, and details of the Akeneo case study at Market America / SHOP.com can be downloaded here on our Downloads page – be sure to click on OPEN SOURCE PIM.

More information on the 11th MDM & Data Governance Summit can be found here.

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