High-quality product data that is consistently updated and managed translates into a whole range of benefits for B2B companies. It is decisive for the success of e-commerce projects.
Delivering high-quality product data is one of the initial hurdles for any e-commerce project. Success or failure in e-commerce depends on the quality, complexity and categorization of the relevant data.
The challenge lies in generating high-quality product data that will provide accurate, complete, meaningful, target-group-relevant and consistent information for customers. In practice, however, trivial things such as the use of inconsistent terminology often lead to problems. One and the same term does not mean the same thing to all. For instance, one person may call an item for sale a product whereas someone else may call it a product version. Let us take the example of an electrical goods wholesaler. If the information about the product versions is not linked, then a particular cable may be displayed 10 times simply because this cable is offered in ten different lengths. The system does not possess the information that we are dealing with ten related versions of the same product. Similar problems occur if units of measurement are not used consistently. The length of a cable should therefore consistently be specified in centimeters or meters.
While the range of products continues to increase, an ever-growing number of products have shorter life cycles. In addition to the growing demands on the product itself, customers also expect high-quality product information. Moreover, companies today must supply an ever-growing number of touchpoints with product information throughout the customer journey. Apart from simple, two-dimensional product data sets, information pertaining to availability of descriptions in multiple languages, categories and classification, bulk and volume-related pricing, product images, video material, 3D animation, documents and data sheets, linked/grouped products and product ranges is relevant.
3 key hygiene factors for excellent data quality
- Define the processes, roles and responsibilities when creating and managing product information
- Specify uniform standards for product data and ensure that they are structured meaningfully
- Use consistent terminology
For an e-commerce app, perfectly compiled product information is vital as there is no other possibility of actually showing the product to customers. Describing and presenting a product as elaborately as possible allows the customer to gain comprehensive knowledge of the product in advance. In addition to a special user experience, this also has the benefit of reducing the number of returns. A fast and user-friendly product search can also be achieved by uploading product data that is suitable for filter applications.
Managing product data is costly – but it’s worth it. Every successful e-commerce business appreciates the direct and indirect impact of high-quality product information:
- Improved user experience and consequently greater customer retention and loyalty
- High-performance search functions and consequently lower bounce rates
- Increase in conversion rate
- Reduction of number of returns and exchanged items
- Greater efficiency in cross-selling and upselling measures
- Reduced time to market
- Increased efficiency through centralized data management and standardized processes
- Reduced costs for analyses
- Brand image