In today’s article we show you the last part of our series of six ways to manage your product information. For this last part of the series we tell you the importance of using social power also in your product files as a way to promote your products and / or your brand.
It’s a fact: happy customers generate more customers. That’s why ratings and reviews are very powerful conversion elements, and a vital part of any product information management initiative. After all, the credible opinion of consumers about a product is vital information for any buyer.
Customers actively seek recommendations before buying. Here’s why including ratings in your product card can be good for your online business:
- Most opinions are good: the world average of product opinions is 4.3 out of 5.
- Users pay attention to social signals, such as ratings. Online retailers with averages of three or more stars in reviews got 41 out of 47 clicks.
- The volume of ratings matters: 29 of 47 clicks went to merchants who had at least four reviews.
But what about the bad reviews? Yes, you will, too. Negative ratings point to credibility and authenticity. They show you’re not hiding anything. And sometimes, they say more about the commenter than about your product.
Our advice is to be attentive to your customers’ ratings, responding appropriately to negative opinions and looking for the key to the problem in order to solve it as soon as possible.
Action points to make the most of social data (opinions):
- Integrate customer opinions (e.g. stars) with your product information and the PIM platform.
- It makes it easy for people to post reviews on networks like Facebook and Twitter: you can then compile it for your PIM.
- Shows ratings and comments along with product information: on product pages, category pages and during the checkout process.
To end this series of six ways to manage your product information, we’d like to make one final conclusion:
As we have been able to see throughout these last articles, the product information is the fuel of the new and informed journey (process) of purchase.
Faster markets, more channels and highly educated customers demand and deserve complete, accurate, rich and up-to-date product information.
Doing it right opens up enormous opportunities by embracing the omnicanal world. And mastering your product data makes it easier to expand your product assortment.
In short, investing in PIM processes pays off: In the customer experience. In revenue. In process efficiencies. And fewer product returns. That’s what the PIM-driven buying trip is all about.
A PIM platform to support your PIM processes is a process and a discipline, but it is also a technology. Here are the benefits of implementing the right PIM solution:
Customer Satisfaction: 71% of retailers using a PIM solution reported an increase in customer satisfaction and loyalty due to high quality service and information.
Conversion rates: Retailers using a PIM system reported higher margins and conversion rates in e-commerce. There is also evidence of increased profits through intelligent cross-selling and up-selling.
Data Quality: Organizations with MDM or PIM systems reported a 17% increase in the accuracy of their product master data.
More efficient internal processes:
- Faster product launches across all channels
- Instant update on all channels
- Optimized integration of supplier data.
- Optimised localisation and reduced costs for translations.
- Greater incorporation of suppliers.
- Easy search
- Time saving
In an omnican world, there is no turning back. Are you looking for a tool that allows you to automate the processes of importing massive data from external sources? Doodat.io offers you everything you need. Doodat.io uses its own SaaS platform to create a constant and efficient data flow. It takes care of the current fragmented and changing Internet environment so that you only have to worry about making your business decisions. All you have to do is choose which data set you want to import. Doodat.io offers two options for that: first, a massive importer of your suppliers’ catalogs in real time that improves them for your customers and for search engines. The second option is a price comparator that allows you to scan your competitors’ prices on price comparators and marketplaces in real time to establish a more efficient online pricing policy. Contact us to find out how PIM can best transform your e-commerce and mobile initiatives.