The hidden key to ecommerce personalization PRODUCT

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The hidden key to ecommerce personalization Know your own products

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Personalization is the next big innovation wave in e-commerce. You need to use everything you know about each customer so you can market and sell to them more effectively in every channel.

Transcript of The hidden key to ecommerce personalization PRODUCT

The hidden key to ecommerce personalization

Know your own products

You don’t need usto tell you

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is the next big innovation wave in ecommerce.

Personalization

Everyone’s been saying it for a decade but now it’s 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 don’t.

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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 here’s 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

They’re 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 don’t manage their product information as the critical business asset that it is.

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Most retailers don’t 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, it’s utterly unsustainable.

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The problems that plague product information are

Legion

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so shoppers aren’t 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.

It’s incomplete It’s out-of-date

It’s inconsistent It’s boring

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so all of the above isn’t likely to change.

causing ‘shelf lag’ that eats up sales and margin.

It’s stuck in silos It’s takes ages toget to market

It’s 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 you’re not really able to recommend and promote the exact products that they’re 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 you’re pursuing an ‘endless aisle’ assortment or an omnichannel strategy (or both), it’s 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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That’s an opportunity for you.

If you’re 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 isn’t 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…

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 – here’s 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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We’re Informatica.Our PIM solution helps some of the world’s 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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Further reading

Liked this? You may like this too:

Using PIM to PersonalizeProduct Recommendations

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Thanks for listening

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