Top 6 Experts’ Insights On Product Data Enrichment [2024]
Efficient product data management is crucial for success in the dynamic world of eCommerce, where competition is intense, and consumer expectations are constantly evolving. Customer trust, buying decisions, and overall user experience are all directly impacted by the accuracy and extent of the product data. We collected ideas from six experts who are at the forefront of driving innovation and success to their projects. They delved into the best approaches and strategies for integrating product data enrichment in your eCommerce strategy.
Whether you are a seasoned eCommerce professional or just starting out, these insights will assist you with actionable strategies to enhance your product data and maximize its impact on your customers and bottom line.
1 Expert # Marcin Stoll, Chief Product Officer at Tidio
Data enrichment is vital for eСommerce of any shape and size: without detailed product data, customer experience declines, which leads to the loss of many potential clients.
Thus, it’s essential to take care of it. Product data enrichment may be a demanding and time-consuming process, especially for smaller eCommerce businesses. However, it is possible to automate it so that it doesn’t take a toll on your productivity.
One of the ways to automate data enrichment is by introducing a chatbot that will take care of product information retrieval, data validation, and informing customers on product changes and updates. NLP-powered chatbots are easy to train and can become your irreplaceable helpers when it comes to quickly fetching and updating your product data.
Not only will it save you hours of your work time by processing large amounts of data automatically, but it will also take your eCommerce customer experience to a new level: any question your customers might have about your products will be instantly answered by a chatbot. The bot will also remind customers about their abandoned carts, offer discounts and special promotions, and ask for feedback. This allows you to have exceptional customer support, conduct constant product data enrichment, and help your support team to focus on the most challenging tasks requiring human attention.
2 Expert # Paresh Sagar CEO of Excellent Webworld
Remember to continuously analyze user behavior, adapt to their evolving needs, and iterate on your strategies to ensure continuous improvement and success in the competitive eCommerce marketplace.
To stand out in this highly competitive space, businesses must provide their consumers with a seamless and engaging shopping experience.
The eCommerce space is reaching new heights and unveiling opportunities for businesses to seize and thrive upon. A statistics report suggests that the global e-commerce landscape is teeming with an estimated 12 million to 24 million apps. These numbers continue to surge as new eСommerce platforms emerge daily.
One of the most powerful strategies that enable businesses to enhance the customer journey is data enrichment. The successful implementation of data enrichment requires the support of a reliable web development service provider. Again, Businesses with the support of data enrichment can create an exceptional shopping experience that captivates customers and drive growth.
Let’s explore some for enhancing user experience and engagement in eСommerce through innovative web and mobile app development:
- Build a centralized product information management (PIM) system for managing and organizing product data.
- Ensure that the mobile app and website display detailed and precise product information.
- Design a robust and scalable database architecture for handling large volumes of data.
- Allow the functionality to add multiple product images from different angles for clear representation.
- Incorporate user-generated content in the form of feedback, such as reviews and ratings, to enrich product details and build trust.
- Consider logically structuring product attributes for a better understanding.
- Enable advanced filtering for customers to filter, and easily search products based on specific criteria precisely.
- Develop robust search functionality that understands user queries and delivers relevant results.
- Implement auto-suggestions and autocorrect features to assist users in finding products, even with misspelled or incomplete search terms.
- Integrate the mobile app and website with your inventory management system for accurate stock information for customers.
- Consider image optimization techniques that allow you to load sites faster without the need to compromise the image quality.
- Employ data validation processes to detect and resolve inconsistencies or errors within the imported product data.
- Regularly sync and update product data to ensure the mobile app and website reflect the most up-to-date information.
Excellent Webworld believes that by incorporating these strategies to create a shopping app, you can enhance user experience, drive engagement and foster long-term customer loyalty.
3 Expert # Temel Kahyaoglu, Founder, CEO, and Chief Analyst at The Group of Analysts
Since today, communication must be personalized to be truly effective, you need to add customer data as well as insights from your BI and analytics tools.
A contemporary eCommerce strategy considers the whole nine yards of the Information Supply Chain. There are so many different ingredients required for making product content excellent. Of course, you need high-quality product data, to begin with, but you must combine it with compelling digital assets such as images or product videos to gain attention and create those product experiences.
A thorough eCommerce strategy requires very different elements to melt together in an effective and intelligent way. To achieve this, you need a smoothly integrated and perfectly orchestrated Information Supply Chain – which includes PIM and other core disciplines such as DAM, Channel Management, CRM, BI, and Analytics, as well as syndication and eCommerce. In addition to the right software setup, your eCommerce strategy needs carefully designed business rules that determine and optimize your product data enrichment processes across all data domains in a continuous and automatic way to keep you ahead of your competitors.
4 Expert # Cyril Dorogan, Chief Commercial Officer, Gepard
I recommend using paid data pools if you need qualitative data. Instead of connecting poor suppliers’ data, try to grab from them only product ID (MPN, EAN, GTIN) and get properly described data from professional product Data pools.
Product data enrichment plays a crucial role in driving customer engagement and profit. Besides demand generation, up to 30% of returns are based on poor product descriptions.
Key strategies and techniques for adequate product data enrichment involve:
- Have one layer, middleware which will take care of connection with internal and external systems and will harmonize exchange
- Do not use separate connectors for each endpoint. Bring everything to this layer, otherwise, your ecosystem will end up with tens of different not connected apps
- Add more types of data to your product descriptions: Rich media, A+ (Elevate Product Pages with Enhanced Content), 360, Specifications, Pictures, and Marketing text. Use AI for text generation and bullet points
5 Eхpert # Reshu Bansal, Founder, CEO , Primewise Consulting MBA-IIM Bangalore
Harnessing the power of data is very important for growth in the eCommerce world today. Data enrichment can make you find hidden opportunities, and make the customer experience much better.
It will also help in boosting SEO rankings and make bigger revenue and profit numbers. Some of the potential benefits include:
1. Better customer experience: With better and more accurate product information to better manage customer needs, Data enrichment opens doors for businesses. E.g. Amazon uses product reviews and detailed specifications to guide customers in making better and more informed decisions to reduce cart abandonment.
2. Personalization and Recommendation Engines: This can be achieved by Data enrichment, where products can be tailored to individual needs. A case in point is Netflix’s recommendation engine, which analyses user viewing history and provides relevant content to drive high engagement.
3. Improved SEO and Discoverability: Data enrichment will play a big role in improving SEO ranking, as this will have a very positive impact on visibility and traffic by providing structured data.
Other notable benefits can include cross-selling and upselling, with proper analysis of user purchase patterns and behavioral data. Data enrichment marks the next step in the journey of eCommerce, where data is the new fuel.
6 Expert # Vitalii Romanchenko, Co-Founder at Elai.io
The value of visual enrichment in eCommerce strategy cannot be overstated, and this is where platforms like ELAI.io become instrumental.
The era of digital commerce has brought along with it an emphasis on the importance of product data enrichment in eCommerce. A well-implemented strategy significantly contributes to a more engaging customer experience, increased conversions, and business growth. In today’s digital age, consumers have high expectations when it comes to shopping experiences. They want detailed, accurate, and compelling product information that helps them make informed purchasing decisions. Product data enrichment, therefore, is not merely a good-to-have but a fundamental requirement in eCommerce.
Product data enrichment takes on a new dimension when visual content enters the scene. In our increasingly visual-oriented world, consumers often prefer engaging video content over plain text. Here in lies the potential of visual enrichment to revolutionize eCommerce strategy.
Visual enrichment allows eCommerce platforms to present their products in a more interactive and engaging way. It gives a product a tangible feel, virtually taking the experience of brick-and-mortar shopping to the online platform. From showcasing the product’s unique features to demonstrating its usage, visual enrichment provides a holistic view that text descriptions may not fully encapsulate.
In a competitive eCommerce landscape, the implementation of a tool like ELAI.io could be the game-changer, differentiating your online store from the crowd. By leveraging the power of AI and the appeal of visual content, ELAI.io can give your eCommerce strategy the visual enrichment it needs to thrive.
Final Thought
The implementation of product data enrichment in an eCommerce strategy in 2023 has garnered valuable insights from experts. Here are some key conclusions:
- Experts emphasize that product data enrichment plays a crucial role in enhancing the overall customer experience. In today’s competitive eCommerce landscape, it is important to collect comprehensive and accurate product information, such as detailed descriptions, high-quality images, and relevant attributes for attracting customers, improving their trust, engagement, and driving sales.
- Experts suggest that product data enrichment enables businesses to leverage personalization and recommendation algorithms effectively. By enriching product data with attributes like customer preferences, behavioral data, and past purchase history, eCommerce platforms can deliver tailored product recommendations, cross-sell and upsell opportunities, ultimately driving higher conversions and customer loyalty.
- Experts also stress the significance of maintaining accurate and consistent product data across various channels and touchpoints. Data enrichment processes should focus on standardizing, validating, and cleansing product information to ensure data integrity and mitigate the risk of incorrect or outdated information reaching customers.
