The hidden key to ecommerce personalization

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  • The hidden key to ecommerce personalization

    Know your own products

  • You dont need usto tell you

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  • is the next big innovation wave in ecommerce.

    Personalization

    Everyones been saying it for a decade but now its really happening.

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  • And personalization is the ultimate form of targeting.

    Because targeted marketing is more effective

    than non-targeted marketing.

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    In every channel, intelligent personalization out-performs one-size-fits-all commerce.

    on websites in email

    on mobile apps and sites

    in call centers

    in social media

  • Personalization is better.

    Segmentation is good.

  • Make no mistake.The retailers who understand this will rip huge chunks of market share from the flanks of retailers who dont.

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  • In the mad rush to catch up, retailers everywhere are scrambling to capture and integrate their customer data.

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  • You need to use everything you know about each customer so you can market and sell to them more effectively in every channel.

    The idea is simple and sound:

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    to intelligent personalization and customer insight is only one of them.

    But heres the thing.There are

    PartsTwo

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    As a retailer you need to know:1

    2

    All about your customersTheir profiles, preferences, histories and behaviors across all channels.

    All about your productsSo you can map that personal insight to the things each customer is most likely to buy.

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    Most retailers would see that statement and think

    Theyre our products.

    Well of course we know all about our products.

  • WrongWrongWrong

    But most retailers would be

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  • WrongWrongWrong

    Because most retailers dont manage their product information as the critical business asset that it is.

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    Most retailers dont know their own products very well at all.

  • That was kind of okay in the old mass-market world. In the new, personalized, omnichannel world, its utterly unsustainable.

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  • The problems that plague product information are

    Legion

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    so shoppers arent sure and click away.

    with different images or descriptions in different channels.

    because it takes so long to update each channel.

    relying on generic data instead of on-brand descriptions, images and video.

    Its incomplete Its out-of-date

    Its inconsistent Its boring

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    so all of the above isnt likely to change.

    causing shelf lag that eats up sales and margin.

    Its stuck in silos Its takes ages toget to market

    Its managed manually

    so the mobile team has a different database from the web team and the store team and the...

  • If your product information suffers from any or all of the above afflictions, how can you deliver on the promise of the personalized customer experience?

    Think about this

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  • You might know your customers

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    but youre not really able to recommend and promote the exact products that theyre most likely to buy.

    ...

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    The worse the

    gets.PROBLEM

    The more

    you sell.PRODUCTS

    The more

    you sell them.PLACES

    So if youre pursuing an endless aisle assortment or an omnichannel strategy (or both), its a really, really good idea to get your product information management sorted out now.

  • about this.

    Nobody Talks

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  • Nobody Talks

    (the Single View of the Customer), only a few retailers have realized the power and potential of product information (the Single View of all Products).

    While everyone chases the customer insight part of the equation

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    Thats an opportunity for you.

  • If youre serious about personalization;

    If you want to sell everywhere your customers are;

    If you want to sell more products and get them to market faster;

    You need a new acronym in your life

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  • Product Information Management

    YouNeedPIM

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    This isnt the time or place to walk you through the many glories that add up to next-generation PIM. You can hit up our website for that.But we do want to leave you with one thought. Or one beautiful vision

    http://www.informatica.com/us/products/master-data-management/product-information-management/

  • you had a centralized Product Information Management platform.

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    And that all your suppliers could go in and update their information for you to approve and publish.

    And that it fed your product pages in every channel: web, mobile, social, call center, in-store, customer service everywhere.

    And heres the kicker that it fed your personalization system, too. Making it intelligent instead of blind.

  • (And if PIM matters to you we really should be talking.)

    If personalization matters to you,

    PIM should matter to you.

    Bottom line

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  • Were Informatica.Our PIM solution helps some of the worlds smartest, most successful multi-channel retailers get to market faster, delight more customers, make more money and streamline back-end processes.

    We also help combine PIM with other data like CRM profiles, transactions or ERP to get even more out of it.

    And we can do it for you.

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    http://www.informatica.com/us/company/contact-locations/

  • Further reading

    Liked this? You may like this too:

    Using PIM to PersonalizeProduct Recommendations

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    http://now.informatica.com/en_using-pim-to-personalize-product-recommendations_white-paper_02520.html?uid=12-23855

  • Thanks for listening

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