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Today quality data is necessary for converting online shoppers. With more and more marketplaces popping up every day, your company must become better at meeting the demands of not just customers, but also the different shopping platforms your customers’ favor. This can become an uphill battle as every marketplace has its own preferred format which makes it impossible for your product management process to remain efficient.
All these issues call for product information management (PIM) improvements. Here’s how PIM has become critical to successful selling on marketplaces.
Successful selling starts with addressing the format variances between different marketplaces. How can a company maintain control over its product catalogs when they are forced to handle so many diverse data formats? These different formats cause issues like data repetition, redundancy, and obsolescence which not only negatively impact customer experience, but can also interfere with effective SEO.
With the right PIM, you can better manage product data so it adapts to several structures and formats. In turn, successful selling across channels is made far simpler.
Another common challenge is having too many places to store your product data. However, PIM allows you to consolidate and centralize your product information in one, secure central location.
Each marketplace sets its own product data/image format vendors must follow. In other words, if you are unable to do so, your products can be rejected. This means you miss out on key marketplace sales where your ideal customers tend to shop.
But you’re also contending with time-consuming tasks such as spreadsheets required by marketplaces. This calls for constant work your team probably doesn’t have time to manage.
Monitoring the many columns and requirement variants for each marketplace is a tedious task. Paired with the types of image and video formats, sizes, and naming conventions, it is near impossible for smaller companies to get their brands out there and gain recognition. Therefore, PIM helps avoid all of these time-consuming tasks.
In tandem with your spreadsheets, you also have varied images or videos stored with different formats and names. When it comes time to add a new product or remove something that is sold out or discontinued, you have to go through your databases and update every single one. This takes hours of work that most small businesses can’t spare.
Marketplaces also limit how many SKUs you can upload at once. They usually max out at about 300 to 500 spreadsheet rows. So, if you have thousands of SKUs, you are looking at hours more work to get everything uploaded.
Your team is constantly faced with the challenge of getting your products on the right marketplace for your customers, following their standards, yet maintaining your own way of exhibiting your products to suit your brand. On top of all of this, you also have to keep your website catalog up to date. This is extremely difficult without a PIM to help.
As mentioned, each marketplace has its own formatting requirements. For example, if you upload something to Amazon and the title is below their min 150 characters, you’ll have an issue. In addition, Amazon requires at least seven images and enough bullet points to describe the product. PIM allows you to access and publish product data to any channel with the right information, so you remain compliant.
Learn more about to successfully leverage product data for online selling
How to Create a Winning Online Marketplace Strategy
PIM allows your team to contend with a wide variety of digital platforms with accurate, simplified yet compliant product information. Consequently, you can standardize product data formats that are compliant, making it easier to import and upload product data. PIM provides a seamless process for syndicated selling, so you are compatible with marketplace requirements with categorization, classification, and formatting.
As a result, you can:
You no longer need to work from spreadsheets and instead use product onboarding that makes it easy to increase SKU counts. As a result, you can easily streamline your multichannel strategy.
Still managing product data in excel? Maybe it''s time you said so long to spreadsheets!
Say So Long to Spreadsheets
As your needs change, you can set up new sales channels without reverting to spreadsheets. Instead, you can tailor your product data and digital assets. With each expansion, you’ll be ready to meet the format requirements of different platforms.
Using validations ensures your product information remains accurate. If information is missing, the right team member is alerted so you always remain compliant with SEO standards and criteria.
The more products you sell, the more important it is to use PIM. For more information on PIM, click the link below to book a demo with our team today.