Top 4 tips to improve PIM strategy
Kristina: Content has been key for merchants and brands for at least a decade, but with so many using sites like Amazon, Ebay, etc. it’s become even more crucial. How are brands doing at creating content that sells across channels?
Dietmar Rietsch, CEO, Pimcore: Brands are becoming more innovative at giving consumers a seamless experience across channels – creating competition on marketplaces like Amazon and Ebay. However, it becomes a big pain point for brands to adjust their content with new retailers entering the ring every day – each bringing their own fine-tuned standards and distinct markets. In order to compete effectively on marketplaces, brands are monitoring the performance of their content on the various touch points they sell on and adapting as they gather feedback from their customers. However, there is a lot of trial and error at play to find the right balance, as they also must remain consistent and identifiable to meet each unique marketplace’s audience, which is a tough line to walk – and many have failed to do this.
As many brands struggle with siloed product data, creating content that sells across channels is increasingly complex. Departments fail to communicate with each other on how to best leverage each piece of content for each audience. As a result, the customer experience suffers, leading consumers to take their potential purchases to other vendors on the site, which comes at a huge cost for brands. In order to create consistent content, brands must migrate to a system that breaks down these silos and provides them with the tools to create a more holistic experience across all channels they sell on, whether that be on their own website, mobile app or marketplace.
Kristina: Does content consistency really matter across channels?
Dietmar: Content consistency across channels is vital for brands, especially given today’s retail market. There has been a massive surge in eCommerce spending, and consumers have more options than ever before. This results in consumers shopping across more touch points – and the differentiator is no longer just the transaction – it’s their commerce experience.
By maintaining consistent content and personalizing an experience according to the given channel, brands can stand out to consumers. Brands must ensure that the eCommerce experience is tailored to whatever channel the consumer is interacting with at the moment, whether that be on desktop, mobile devices, in a physical store or on a digital marketplace. For example, a message on desktop needs to vary from a mobile push notification, and product specs in a physical store must differ from what consumers can find on Amazon. By giving consumers a seamless and consistent experience no matter what platform they plan to spend on, they are more likely to return to the retailer.
Kristina: How can merchants ensure they are creating the right type of content?
Dietmar: Merchants can ensure they are creating the right type of content on each marketplace they sell on by simply listening to the customer and effectively analyzing data surrounding what’s being purchased and which content performs best. Merchants must be in tune with what their customers demand, To do so, they must continuously collect feedback and iterate on that feedback over time, as needs for unique experiences constantly change.
Additionally, merchants can leverage third-party analysis tools to identify which pieces of content are highly engaging, as well as use master data management solutions to pull in content from CMS and ERP solutions. This gives merchants a holistic view of the customer and allows them to develop the most relevant content accordingly.
Kristina: What impact can a good product information management strategy have for digital brands?
Dietmar: When digital brands maintain strong, consistent product information like product specs, prices and compliance standards across the channels they sell on, they build trust and loyalty with customers who can rely on the brand to deliver the most accurate and relevant experience every time. With so many brands on the market, strong product information can be the differentiator – and bring customers back to your brand again and again. This strategy lends itself to repeat purchases, as well as additional purchases, as customers feel the brand has their best interests at heart.
Kristina: What are your top 4 tips to improve brands’ PIM strategy?
Dietmar: If a brand is looking to improve its PIM strategy, here are four things to focus on:
1. Brands must have a master data management solution that can aggregate all product data from various sources and remove siloes. This allows them to have a full picture of who the customer is – and, what they want.
2. Brands must consider an investment in agile tech, like open source or cloud solutions, that allows them to quickly iterate on experiences and ensure product information is adjusted as necessary.
3. Brands must continuously make an effort to listen to their customers and gather feedback – this is how they can gauge what consumers are looking for and truly meet their needs, even as they evolve.
4. Brands need to conduct a content audit on a regular basis to ensure content from various sources are up to date and continuously updated as regulations and customer demands change. Brands need to have the most relevant and accurate content across channels at all times to build and maintain trust with consumers and partners.
By following these four tips, brands can expect not only a stronger PIM strategy, but improved customer experience.