Turn Data into Dollars with these 6 Tips on Product Data Governance

Turn Data into Dollars with these 6 Tips on Product Data Governance

I’ve been there. You’re staring at a seemingly impossible amount of data in Excel with no idea how to eat the proverbial elephant. You know that you need structure; you know that data is everything to grow your eCommerce channel and maybe you aren’t entirely sure why. You hear experts talk about “data quality” and “data governance” and quite honestly, you just want to sell more of your product and ensure your site is following best practices for your customers. 

Amy Buchanan

Amy Buchanan

Business Analyst

Hi, my name is Amy Buchanan, and I am a product data geek. I have served in various roles in a data steward capacity, and I love to help companies solve the puzzle of their product data. Salsify Certified and experienced in other product data solutions, I am one of many team members at Redstage that can help your company increase revenue, increase conversion, and optimize your systems for success.

It can be challenging to sell process and back-end systems improvements to senior leadership. The systems are not customer facing and they aren’t bringing anything new and shiny to your website to draw in a customer. Yet as everyone knows, if your house foundation is damaged or faulty, you are likely facing some serious (and costly) issues. Maybe not today but in the future, as your business grows, suddenly you find yourself with a huge mountain of data and no way to consistently manage or gain valuable insights. It’s also common that your company has gone through a merger or acquisition and now you’re faced with multiple sources of data with no strategy to consolidate it into a unified experience for your customers.

We’ll get started with a few tips, to at least make your research efforts more targeted. Need more help? Feel free to reach out to our team and we can get you connected to our Redstage experts.

1. Fix the Foundation – Invest in Structuring Your Data

data structure is the foundation of your business

Depending on the current state of your product data and what system capabilities you have today, you may be able to start applying some structure and getting immediate results.

Question:

Do you have product data attributes that you could clean up and make into a drop-down list?

Each industry is different, but here’s an example applied in the clothing industry:

Clothing is often bucketed in size ranges on websites to help customers browse to the section that applies to them. You may see values like:

  • Men’s
  • Women’s
  • Boys’
  • Girls’
  • Unisex

Or values such as:

  • Adults’
  • Youth
  • Kids’

That seems straightforward. However, if your data is not normalized, perhaps from different sources, you may also see values like:

  • Men’s
  • Mens
  • Men

While to a human reading this list, we will interpret these values as the same thing, your systems cannot.  This will lead to miscategorization of the products due to the redundant filter/attribute values.  The customer may be confused, and they may even abandon their session if this lack of organization occurs as a less effective user experience…and that turns into lost revenue for your organization.

2. Call the Experts – Implement a PIM Solution

pim experts

You’ve tried MS Excel; you’ve tried outdated data warehouse tools. Maybe you even tried to build an MS Access database to add structure to your data, and it just isn’t enough. You have too much volume or even too much complexity to your data and you need help and fast. 

There is good news! There are a variety of PIM (Product Information Management) or MDM (Master Data Management) tools out there that will suit your business. The organizations that support these systems have done all the heavy lifting of providing you with a tool to help your business, and all your team needs to do is work with an implementation team to configure and stand one up. Depending on the size of your product assortment and organization, a typical PIM implementation can take anywhere from 3 to 12 months, and it is well worth the investment.

As you stand back and look at the structured data, workflows to review and approve data, various channels you can create to customize data for different sources, you will see how your team will be able to move faster and reach those company sales goals easier.

3. Does Your Data Speak SEO? – Optimizing Your Data for Search

is your product data SEO friendly?

Your website data may be pristine, but if search engines like Google cannot find it, then you will always be chasing how to get more traffic on your website. If you aren’t sure where to start, Redstage can make some suggestions on SEO partners that can help put together a strategy and plan to get your website where it needs to be.

You can also leverage resources on schema.org to ensure that your website is using the correct markup – that’s the language the SEO Crawler likes best. You can also use the work you put in step one to increase the SEO value of your website. By giving your products the titles that your customers are searching for, you are more likely to increase your ranking in Google Search Results, which means an increase in organic traffic to your website. More customers very naturally lead to an increase in sales!

4. Cross-Selling and Upselling – What does that have to do with Product Data?

selling related products based on customer preferences

While you can manually associate products to one another using your CMS (Content Management System) tool, this can be a time-consuming manual effort. If you have taken the step to implement a PIM solution, many products out on the market will also allow you to create relationships between products.

These relationships can often be created manually or dynamically leveraging how the products are categorized in your PIM. You may have a product that has some accessories you want to suggest to your customers for an upsell opportunity. Or there may be related products (like similar brands or items in the same category) that you want to make available to your customers. Many eCommerce platforms also automatically assist you with this step by offering widgets to display popular products (based on website sales) or even feature new products (based on when products are added to your store) right on your home page, without any additional effort.

5. Use Analytics to Understand Customer Behavior

use analytics to make sure you're servicing customer wants

You probably already have Google Analytics set up on your website, and if you do not, go do that after you read this post!

Question:

How are your customers searching for products?

Make sure you use their words in your website content. Another thing you can do for a quick win is identify which attributes your customers use to shop for your products, and make sure they show up in the filters on your website and are included in your website’s search criteria.

Attributes such as:

  • Size
  • Color
  • Flavor
  • Battery Type
  • Frequency
  • Power
  • Height
  • Width
  • Length

…or whatever attributes suits your products and customer expectations.

Perform some competitive analysis using a tool like Google Trends (for example) or see how your competitors are structuring their data. This type of data can usually be identified from an existing data set if you have written a description of your product on your website’s product detail page. Once you have these attributes separated out, you can also use them to create a more personalized experience for your customer and get them to the content they want, quickly, so they can click “Add to Cart” and make their purchase.

6. Data Ownership – Accountability Ensures Your Business Stays on Track

entrust product data ownership to one person to ensure it gets the care it needs

So, let’s say you perform step 1-5 and you are really proud with all the work your team has put in to get your website product data in good shape. Does that mean you’re done? Unfortunately, not yet.  We would suggesting having someone in your organization to continually monitor your data quality and data completeness, so everything is continuously optimized.

By assigning data owners to different aspects of your product data, you will ensure that someone is continually monitoring and ensuring that your product data meets your company guidelines and fulfills your business goals.

For example, if you have compliance needs, it’s a common best practice to ensure you have a team member that can validate data from a safety and hazardous materials perspective. This may be within your legal department or even an outside agency. Establishing processes to validate new products going to the website can be facilitated by a PIM solution, and periodic review can also be performed to ensure that you catch any compliance concerns before they turn into costly legal issues.

Phew! I know this can seem like a lot and whether you just need some guidance or if you are looking to create a partnership with a team that will be your Sherpa up Mount Product Data, please let us know how we can help you!

Subscribe to our newsletter to ensure you never miss B2B eCommerce insights, trends, and new technology from our team. Don’t forget to follow us on TwitterLinkedinInstagram, and Facebook too!

Announcing our Partner of the Month: JASPER!

Announcing our Partner of the Month: JASPER!

In our industry, the creation of solid, valuable, and lasting partnerships is critical to our success. At Redstage, we prize the work we do with our partners, especially those that go above and beyond. This month, we want to highlight the incredible work of the Jasper team and thank them for continuously delivering in what has become one of our strongest and most valuable partnerships. We partnered up in 2019 when Redstage became an officially certified Jasper PIM software reseller and integrator. Learn more about how we work together on Jasper’s blog here.  

With its time-honored industry experience, Redstage is assessing product information needs of online retailers and helping Jasper PIM resell our powerful PIM solution to boost retailers’ online sales and marketing.” 

–Jon Marsella, CEO & Founder, Jasper PIM 

 

What is a PIM and why is it critical to eCommerce? 

PIM stands for Product Information Management software. Managing your product data across the web on multiple channels can be daunting, but it’s also a vital part of staying competitive in eCommerce. A PIM allows you to manage all of your product information from one dashboard with one backend. Whether you have products across multiple marketplaces, multiple websites, or even in multiple languages, a PIM allows you to keep your product information consistent and updated throughout your online sales channels to strengthen your omnichannel marketing 

Before using PIM systems, online retailers struggled with updating data in massive excel sheets or multiple platforms (like eBay, Amazon, Etsy, Rakuten, and more) or in the right language or price for different markets. With the right PIM, online retailers and vendors can unburden themselves from the time-consuming hassle of logging in to multiple websites and updating product information in numerous digital locations. 

You may be asking, Why implement a PIM? Or, “How can we calculate the return on investment of a PIM implementation? By decreasing item returns thanks to accurate product information, increasing your conversion rate, and expanding to other marketplaces and sites with updated product information, you can see huge boosts to revenue across the board. PIM also helps online merchants maintain product authority no matter where your products are featured or sold. 

JasperPIM

The Jasper Difference

With Jasper’s industry-leading PIM solution, business owners can simplify their eCommerce product management and grow into very successful merchants. Jasper’s motto is “Save Time. Save Money. Earn More.” and these phrases perfectly exemplify the core benefits a PIM software can have.  

Jasper PIM saves time by ending the need for long product information spreadsheets, saves money by increasing productivity and lowering the number of mistakes made, and allows you to earn more by increasing conversion rates and lowering item returns. 

Results and Success Stories

Having worked with Skullcandy, FitBitSherriltree, and more of the biggest brand names in eCommerce, Jasper has proven itself as one of the leading PIM solutions in the industry. Whether you manage products on 1 website, or more than 20, Jasper PIM provides multiple PIM solutions that can be tailored to your needs, ensuring your business’ success.  

Jasper’s world-class SaaS product information manager works for both B2B and B2C merchants and integrates into any Magento, BigCommerce, or Shopify store.  

Check out how Jasper worked with headphone manufacturer SkullCandy to align their product information in 6 languages and 4 different currencies with their extremely powerful PIM solution here. 

 

Learn More

To learn more about Jasper, contact them, or view more success stories, visit their listing on our partner page here. We’re proud to be part of such a collaborative and productive partnership. Thank you to the Jasper team for your continued support! 

Redstage Announces Partnership with Akeneo!

Redstage Announces Partnership with Akeneo!

Akeneo

We’re excited to announce a new partnership with Akeneo, a leading provider of product information management (PIM) software.

About Akeneo

Akeneo is a fast-growing software company that offers an open source PIM (Product Information Management) solution that dramatically simplifies catalog management processes. Akeneo PIM makes it is easy for B2B and B2C retailers and brands in any market to collect data from any source, enrich and control the quality of product information, and distribute it to multiple channels such as eCommerce, mobile, print, and points of sale. As Redstage’s latest industry partner, the two companies plan to strategically align initiatives to maximize value for online merchants.

The Product

While many eCommerce companies start out managing their product information with spreadsheets, they soon find out this method is unsustainable, but only when it’s too late. When trying to scale, companies find it difficult to properly manage an ocean of spreadsheets across sites, brands and more. This inevitably leads to a perpetuating, toxic cycle of improper product information being shown to customers, leading to a boatload of issues.

Unlike spreadsheets, the Akeneo PIM is custom built for managing product info across websites, eCommerce platforms, print catalogs, points of sale, mobile apps and more. As a result, the companies that switch from spreadsheets to the Akeneo PIM report a 50% increase in productivity, 30% increase in data quality, four times as many conversions, a faster time to market and lastly, lower return rates.

A Strategic Partnership

As a technology-forward eCommerce company, the Redstage team is on a constant search for the latest and best tech to simplify and streamline our clients’ processes. We look forward to working with the Akeneo team and sharing the incredible advantages of their platform with our clients.

Learn more at Akeneo.com or read their latest white paper on optimizing product value through PIM.