Product data impacts the customer’s purchasing decision and supply chain’s performance. Yet, many companies are still unaware of the implications of poor quality data. Inaccurate data confuses customers. It hampers their shopping experience and restricts their buying decisions. It costs retailers and vendors millions of dollars, and customers end up paying more for products that can be bought at a lower price.
Inaccurate or incomplete product data is common in poorly maintained databases. Such poor quality data should not be used in communications. Imagine what your customers will feel when their purchased items are totally different from those you described. They will be angry and disappointed, which will ultimately damage brand loyalty.
Roughly half of online shoppers return their purchases due to discrepancies between product data and the actual items they received. More than a third abandon their carts for lack of detailed and comprehensive information. As a result, many customers avoid the brand due to inaccurate product data.
Companies should strongly consider adopting a Product Information Management solution to achieve a great return on investment and enjoy the following benefits:
- Superior Data Management
Many companies still rely on old-fashioned methods to organize and maintain their data. PDFs and spreadsheets are scattered around the organization, making it more difficult to locate and maintain them, disabling the company from providing accurate information efficiently. A suitable PIM solution organizes and centralizes all product data so it can be achieved, shared and distributed across all available channels to easily and efficiently deliver the right information at the right time.
- Easy Integration
Companies need easy communication to complete all the tasks required during product management initiative. A superior PIM solution allows easy integration with other business enterprise systems or external third party applications.
- Efficient Delivery of Product Data
By delivering product information across all channels and business systems, you can greatly improve your customers’ experience. Every customer could require a different delivery channel. A PIM solution allows you organize product data for every client and push content through the appropriate channel.
Some of the negative effects of poor quality product data can be mitigated or completely avoid with the right Product Information Management solution. PIM allows you to store data in one location that can be accessed by all organization units. It also prevents incorrect or incomplete data from entering the system.
In ecommerce, a product is as good as the information associated with it. Many customers abandon their carts and look for similar item somewhere due to incomplete and inaccurate product data. To avoid adverse effects on your work efficiency, make sure you provide top quality data. Click here to learn about the best practices to improve and sustain quality product data