Connect 2023 - Takeouts – Product Data is Fundamental to the Customer Experience in E-commerce
Markus Henkel
“Product data is fundamental to the customer experience in e-commerce – for the provision of information, data consistency, process efficiency, customer service and for cross-selling and upselling opportunities”, such was the consensus of this year’s CONNECT in Zurich. At the largest IT trade fair in Switzerland, we joined forces with Fabian Kölliker, head of marketing at SWISS KRONO Group (SKG), to give a talk on the fundamental role of product data in online retail and for an omnichannel strategy – these are my personal takeaways.
My personal takeaways – why is product data so fundamental in multi-level sales?
When there is accurate, current and comprehensive product data delivered in a targeted fashion, customers find exactly what they are looking for.
Companies need to make sure that their PIM system is up to date, and not just on the technical front. To me, this is one of the main reasons for a cloud-based solution: Automatic system updates are guaranteed. But to live up to customers’ expectations, product data needs to be current and complete. It is simply a must – and that includes tailoring data in great detail to the use case in question.
Plus, the standardised and appealing presentation of products increases the credibility of a brand and builds trust.
The consistency of product information in particular makes a brand appear professional and trustworthy, and this can be achieved across all sales channels with a PIM system. The way information is presented builds brand recognition. This increases the likeliness that customers will buy products.
Today, product data is needed everywhere.
These days, product data needs to be available in various sales channels, be it brick-and-mortar stores, e-commerce platforms, social media streaming, digital catalogues or print media. A PIM system guarantees the seamless distribution of this data to all relevant channels – in different formats, of course.
Individual information on products adds crucial value along the customer journey.
If you pay attention to a few subtleties and dependencies, individual information can add crucial value in the following ways:
Personalisation: Individual information can be adapted to specific persons. Products and services are tailored to the needs and preferences of a particular customer.
Information required: Customers often have specific questions or concerns about a product or service. Comprehensive information may help answer these questions and address concerns.
Purchase decision: During the decision-making process, information may help resolve uncertainties and encourage the customer to make the purchase.
Customer loyalty: This aspect is often overlooked. After the purchase, information can still be useful if it helps the customer use the product or provides recommendations for additional products or services.
It is, however, important to keep in mind that the effectiveness of product data depends significantly on the quality and relevance of this information – which brings us back to the first takeaway.
Golden record – all the ‘necessary’ information everywhere, simultaneously and channel-specific.
The golden record describes the perfect data set – the most comprehensive information on a product. In addition to product pictures, this also includes specific data sheets and the individual information mentioned above.
Aligned with the central project goal and absolutely indispensable: A standardised product data model.
A standardised product data model structures any and all product data consistently. The advantage: A consistent product data model defines a standardised approach to the organisation and management of product information. This guarantees effective product information management, or PIM, for short. This is particularly important when different organisations and systems across the entire company use and exchange this information.
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