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Is Your Product Data Optimized For Omnichannel Commerce?

Brands and retailers often face the consequence of lost revenue thanks to bad product data. In the last decade, there has been a revolution in the way we manage product content. Today, customers look beyond product features & shipping information. They respond to 360-degree immersive narratives that include multiple brand images and video, AR generated lifestyle images and rich product copy. Today, at the heart of a successful ecommerce strategy lays product content that can make or break a sale.

The key is to evolve to meet the demands of today’s connected shoppers. How can you do that? By making the shopper feel empowered with all the information they want, when they want it & on a platform of their choice. With a modern product information management (PIM) solution this is possible. From product discovery to syndication, a PIM solution collects, cleanses, enriches, and adapts your content to meet specific channel requirements for a seamless omnichannel experience. This is even more important in the Amazon-age, with nearly 66% shoppers (2/3 of US shoppers) beginning their search for products here; brands and retailers have to ensure they have the capability of updating their product data quickly to meet the ever changing and ever increasing product content guidelines.

Let’s look at some of the typical challenges faced by ecommerce players that are still managing product information on excel files and shared drives and legacy systems:

  • Product horror story – companies that don’t have access to a centralized repository of trusted product information struggle with easily finding and publishing content in a timely manner that ultimately lead to higher return rates. Never mind poor customer satisfaction levels.
  • Manual syndication – manually managing multiple versions of product data across different departments and channels over hundreds of spreadsheets is near impossible for brands that wish to stay competitive by continuously optimizing their products to capture a larger market share. When the customer expectation is to buy anything at any time, the last thing retailers & manufacturers need is to get stuck with troublesome errors and brand and cross-channel inconsistencies that are fully visible to customers.
  • Zero scalability & delays in launching new products – the ability to list and manage tens or hundreds of thousands of new SKUs is essential to executing an endless aisle strategy to compete with Amazon and other players. Manual methods and legacy systems often fail to accomplish this, hurting a business’s agility in the marketplace.
  • Damaged brand reputation – all of the above situations negatively impact purchase decisions and lead to an irreversibly damaged brand reputation.

So how can you ensure exceptional product data quality, i.e. completeness, timeliness, conformity, consistency and accuracy in collaboration with suppliers & partners? By integrating a cloud based PIM solution in your marketing technology stack. This core solution software aggregates content (including rich selling content) from all data sources, transforms it, creates a harmonized data set, and synchronizes all content to your eCommerce website and various 3rd party digital marketing and sales channels including search engines, social media, and marketplaces. It supports content syndication both in terms of product mix and completeness and format of data, including multilingual content adaptation, needed by the various digital commerce channels.

New platforms like PIM can ensure product content directly supports the KPIs that drive success across all sales channels and has an impact on increasing conversion rates, average order value, stickiness, SEO, & profitability while decreasing return and cart abandonment rates.

Get in touch to talk to a PIM expert today. 


What Is Cloud PIM And Why Is It Right For Me?

Cloud deployment in eCommerce is a default in 2020. Driven by digitally influenced consumer touch-points like social media, online marketplaces and mobile search, cloud native innovation has become main-stream.

Adapting to a cloud-first approach is not an easy one. Understanding cloud capabilities and the new ways it can transform your business is the first step. That’s where we come in. Here’s how you can adapt your IT strategy to get the benefits of cloud-based solutions – to solve business challenges, meet consumer expectations & thrive in a digital-first, always online economy.

smallPIM – StrikeTru’s cloud based product information management (PIM) solution is an affordable, flexible, fast to deploy SaaS solution powered by Akeneo PIM Community Edition. smallPIM specializes in helping retailers, distributors, and manufacturers visualize & understand how they can acquire, onboard, manage and distribute their product data more efficiently. Product data is the lifeblood for fast growing commerce – now imagine having a product information truth source that puts all your product information in one place streamlining your operations, saving valuable time for employees, increasing collaboration and creating a true omnichannel experience for your customers.

Our belief is that product-selling B2B & B2C companies should spend less time sorting through messy data & managing multiple spreadsheets and more time building capabilities to hold the attention of digitally connected consumers through different stages of their shopping experiences to unlock eCommerce success.

What are the strategic advantages of deploying cloud based product information management solution for eCommerce?

  • Deliver consistent, high quality product information across channels, get products to market faster, boost product discovery & conversions.
  • No infrastructure to manage: A traditional on-premise PIM solution is associated with high overhead costs. With Cloud PIM you lease the infrastructure you need and expand as you need.
  • Scalable: Cloud PIM provides a great deal of scalability to expand in tandem with your growing needs instead of provisioning excessive and unused on-premise infrastructure
  • Automate manual content and IT processes to eliminate errors and let your team focus on strategic areas like customer innovation.  
  • Instantly available: Cloud PIM gives you the flexibility of easy access from anywhere, anytime and from any device. Give access to partners, suppliers, employees breaking down silos, improving data workflow & making workloads more portable. Perfect for huge volumes of ever-changing data.
  • Low total cost of ownership: With a pay per use model and turnkey features, there are no expensive investments in on-premise infrastructure and support staff.

The cloud computing market is omnipresent and will reshape the competitive landscape in 2020. This is especially true for eCommerce players who must evolve & embrace the next generation cloud model to stay relevant.

Contact us for a free demo.


Marketing To Millennials

Millennials are changing the way brands are doing business, from catching onto contextual advertising trends to becoming early adopters of latest marketing channels (like Instagram) – it’s no surprise their purchasing power is projected to reach $1.4 trillion in 2020.

In this blog we’ll examine tomorrow’s trillion-dollar demographic and provide insights on how to engage the largest group of category killers across industries.

Online search

E-commerce made up nearly 10% of all retail sales in the last quarter of 2018, but that doesn’t necessarily point to the fact that all shopping is happening online. Online shopping statistics are vital for retailers to understand why a large chunk of purchase decisions still happen at the shelf. Other than shopping, digital has a huge influence on how Millennials reach the physical store – digital helps them search and find products in real-time,stay in tune with thousands of product reviews, prices, and best deals both online and offline, and gather updated product information they need to find the best products& shopping experiences.

The key is a seamless shopping transition from smartphone to personal computer to store. This also explains why this generation prefers the BOPIS (Buy Online Pick in Store) experience.

Impulse buying

Most millennial shoppers indulge in unplanned shopping – ‘throw extra items in the cart while you’re there’suggesting a demand for instant gratification and convenience over saving money on product price. Marketers have understood this and are developing millennial versions of the in-store ‘SALE’ signage that make the consumer not think twice about making a spontaneous purchase. Like related products, free shipping, or first-time buyer discounts. For example, grocery e-tailers convince shoppers to add items they might have forgotten at checkout based on items in their shopping cart.

Influenza economy

Almost three-quarters of consumers say that there has been a direct link between watching a video online and making a purchase. (Source: Adweek).

We live in a sharing economy and ‘Influencers’ have emerged as the game changers in the ecommerce space.  “In 2018, 72% of major brands stated that they were outsourcing a significant portion of their marketing resources to online Influencers. Followers feel as though they’re getting a product recommendation from a friend, making them more likely to buy quickly.” (Source: weforum) Successful brands have quickly adapted their marketing strategies to include Influencer collaborations that leverage their massive following resulting in an online buzz about the brand, product information, and updates. From brand discovery to purchase drivers, online mentions and reviews will be paramount to uplifting brand & sales in 2020.

Retailers and brands are redefining their strategies as the digital landscape and shopping behaviors evolve every day. If they are to capture the purchasing power of this segment, some organizations may have to modernize their legacy systems to keep themselves from falling behind. Two things: marketing technology. The right marketing technology, combined with the right data, people, processes & partners can enable retailers and corporate brands to deliver a consistent and elevated customer experience across all sales channels, including eCommerce, mobile, social, print, and retail points of sale.

Check out our Services page for more information to get started with mapping your ideal marketing technology stack.