If you’ve ever bought or sold anything online, you’ve interacted with product data, even if you didn’t realize it. In simple terms, product data is like the digital DNA of the products you find on e-commerce websites.
It includes all the essential information about a product, from its name and price to its features and specifications.
In this blog, we’ll break down what product data is and why it’s crucial for online selling. Whether you’re a seller looking to improve your online listings or a curious shopper wanting to know more about how online stores work, understanding product data is key.
So, let’s get started and discover why it’s so important in the online shopping world!
What is Product Data?
Product data refers to a collection of specific and detailed information about a particular item or product.
This information is used in various aspects of business, especially in e-commerce and retail, to describe, categorize, and present products to potential customers.
Components of Product Data
Product data comprises several essential components that provide comprehensive information about a product.
These components help businesses present their products effectively and enable customers to make informed purchasing decisions.
Here are the main components of product data:
- Product Name
- Product Description
- Images and Media
- SKU (Stock Keeping Unit)
- Product Category and Subcategory
- Warranty and Returns Information
- Related Products
- Product Variations
Why Product Data Management is Important?
Customers are the most critical factor in your business. Where there’s no consumer, there’s no sale; where there’s no sale, there’s no business!
Hence, the main aim of every business is to provide the best product experience for customers so they turn into buyers, and ultimately become regular buyers. And a great product experience comes from great Product Data Management.
Why Good Product Information Is Important?
Having complete, correct, and easy-to-understand product information helps businesses organize their products in the right way and put them on websites to sell.
When the product information is neat and clear, it’s simpler to use it to make new categories or groups of products.
For example, if you can pick out things like the color or style of a product from its name, you can show that product in different categories on a website.
This increases the chances of selling it and helps the business stand out online.
What Happens When the Information is Incomplete?
If the product information is not complete or has wrong details, customers might lose trust in the business. This can lead to more returns, refunds, and fewer sales.
Also, if product information isn’t updated in real-time, customers might see things as available when they’re really out of stock.
That’s frustrating, and customers might not want to come back or might tell their friends about their bad experiences. So, even small mistakes can make a business lose customers.
Ensuring that customers have a good product experience through efficient product data will lead to loyal customers that come back for repeated purchases from your brand, and reduced returns and refunds.
How Product Information Reflects a Brand?
The manner in which a brand presents its product information is a reflection of its identity. While many can generate content, not everyone can produce compelling content that captures the attention and interest of consumers.
Product data is a valuable asset for any business, and its quality can be the deciding factor in making or breaking a sale.
Let’s delve into what constitutes good product information and what should be avoided.
Take the Levis “Sunny Wester Shirt” as an example of how not to showcase your product. Its vague description doesn’t match the actual product. If a customer is looking for a “Blue, denim” shirt, they won’t find this product.
When your product listings are unclear, there’s a big chance that many potential customers won’t discover your product on your website. This could mean missed opportunities for sales.
Now, let’s consider another example. In this case, the primary feature of the product is prominently featured in the title. This makes it highly likely to show up in searches.
If someone is searching for “high-waisted” jeans, “skinny” jeans, or both, they will easily find this product. This simple clarity can significantly boost the chances of selling your products.
Do you realize how strategically placing your product data can significantly improve your online store’s chances of making a sale? It sounds straightforward, but not all businesses get it right.
So, what’s the reason for this? It often comes down to a lack of resources. Many businesses still rely on manual processes and overlook the importance of strategically organizing their product data.
Now, let’s explore the solution to this challenge in the next section.
Product Information Management (PIM) System: The solution to your Product Data Concerns
To provide customers with the best possible experience when using your product, you must ensure your data is collected, maintained, and kept up-to-date.
This means having control and oversight across all your channels, including your retailers’ online stores. Achieving this level of control is made possible through a Product Information Management (PIM) system.
A PIM can handle a wide range of data, from technical details like specifications and measurements to product descriptions and visual elements such as catalogs, images, videos, and PDFs.
What makes it even more valuable is its ability to track real-time changes to product information and seamlessly integrate this data across different platforms by unifying and synchronizing it.
These are the ways in which Product Information Management can help with the product data;
1. Simplified Data Collection
By centralizing all information within a PIM system and granting access to every team member, collaboration becomes smoother, and information can be shared with end consumers more efficiently, without delays or confusion.
A PIM system also reduces the need for constant manual labor, saving valuable time that can be redirected toward more crucial tasks.
Remember the old saying, “Time is Money.” In business, this holds true because every minute spent on repetitive tasks could potentially translate to lost sales if work isn’t handled efficiently.
2. Enhanced Data Management
Through a PIM system, customers gain reliable access to detailed and pertinent product information. This, in turn, reduces the likelihood of product returns, complaints, and abandoned shopping carts.
The introduction of new products becomes a much faster process. Having access to this wealth of information also empowers manufacturers and retailers to provide superior service to their customers.
By centralizing information and synchronizing data, it becomes possible to unify and harmonize information, effectively preventing common errors and inconsistencies. This places the company in a favorable position compared to its competitors.
3. Ensure High Quality and Accurate Data
Having product information that’s always up-to-date, complete, and consistent is crucial for a great user experience. When your data is thorough, accurate, and easy to understand, you can get creative and flexible with it.
You can showcase your products on various platforms, reaching a larger audience and making sure they have the best buying experience on your website.
Using a PIM properly means doing things right from the very beginning, before actually using it. The right vendor knows they have to help your team implement your new PIM before you can use it. This involves the following 4 stages:
- Cleaning your data.
- Structuring your PIM to fit your needs.
- Adoption by your team.
- Notifications and Workflow.
Streamline your Product Data with Apimio PIM
With Apimio, simplifying your product data flow becomes a breeze. You can take it a step further and guarantee that your retailers receive the most precise data directly, eliminating the need for other communication methods.
By simply sending a PIM invite, your retailers gain instant access to all your up-to-date product feeds.
But that’s not all – Apimio offers a range of features to enhance your product data management, such as;
- Real-Time Updates
- Efficient Collaboration
- Centralized Control
- Streamlined Communication
Product Data is your Asset
Clear, accurate, and strategically placed product information can significantly boost a business’s visibility and customer satisfaction.
Utilizing tools like Apimio PIM can simplify product data management and enhance collaboration, ultimately leading to a competitive edge in the dynamic world of e-commerce.
In today’s digital marketplace, where every moment counts, effective product data management isn’t just an option – it’s a necessity for businesses looking to thrive and leave a lasting impression on their customers.
What to do next?
- Download our free Product data sheet template and start creating new Product Datasheets for your products faster.
- Read more about our Product Information-related Guides here.
- Learn how you can use a PIM tool to Improve your Product Time to Market & SEO. Start your Free 14 Day Trial.
- Contact our support or Comment your thoughts under the blog section if you have any questions or issues.
Frequently Asked Questions
Product data management involves organizing and maintaining detailed information about products for online selling.
Effective data management can increase visibility, customer satisfaction, and competitiveness in the online marketplace.
Apimio PIM simplifies data collection, ensures quality and accuracy, and enhances collaboration among teams and retailers for more effective online selling.