Product experience is the interaction of a product and its users. The attachment of the product, the feeling towards the product, and senses related to the product create a good product experience for a customer. Achieving global product experience means delivering the great experience of the product to the global audience.
To be able to reach a global audience, you need a strong product data supplier platform that provides relevant information in real-time. Reaching a global audience and delivering relevant product information for a better product experience is not at all easy as it may seem. You need PDS for the same.
What is Product Data Syndication?
Product Data Syndication-PDS is part of Product Information management-PIM.PIM focuses on storing and submitting information to an organization, while PDS is one step further to PIM and it focuses on sharing product information to manufacturers, merchants, and the market.
PDS takes care of sharing and publishing product information across different customers and merchants. For encouraging customer experience and with the increase in the customer interface; syndication channels like B2B, B2C, and B2B2C are required.
Your business might have billions of products and your merchant needs precise, unique product information of every product in detail so that the merchant can carry out his task. The merchant needs information to stay ahead in the competitions from other merchants and PDS is just one tool to provide information to your merchant.
You need PDS to share information with merchants and manufacturers because they might not have consistent product information throughout the product cycle. Merchants and manufacturers need to be updated with the product so that they can stand out from their competitors.
How to Drive Revenues through PDS?
Driving revenue with PDS is possible because of its ability to show product information in the same way; as a physical store would do. Customers can have access to product information in detail even though touching or checking the quality of the product physically. When a customer gets the right information about the product, then become more confident towards your brand.
Your potential customer will be your loyal customer as long as you keep delivering reliable data of products to them. The consistent product information will attract your loyal customers to buy products from you so that your revenue will always rise. Thus, with accurate product information, you can gain the trust of customers and they will help you in driving your revenue.
PDS delivers relevant information to relevant customers so that they can make informed decisions about product purchases.
Benefits of product data syndication
1. Get Products faster to market
The trended times have worked in the favor of customers as they have the liberty of choosing products from multiple e-commerce platforms. The medium of their purchase process has changed but their tendency of making a purchase decision is still the same- Customers want precise and detailed information about the product before purchasing the product.
To be ahead of the others you need to have a faster time to reach to market than your competitor does. In doing so you need to make your merchants and manufacturers updated with product information so that they can continue their working pattern and for that you need PDS.
2. Data Management
PDS is part of PIM PIM is a key source of relevant and consistent data. No business works on a single product now a day and likewise, your business must be having multiple products too. Multiple products’ distribution is more difficult as it involves numerous manufacturers and merchants. Each and every manufacturer will require product information at every stage.
You single-handedly can’t take follow up from different merchants for different product statuses. You need a proper system to deliver the right information to retailers about the trend of customer’s preferences. PDS is important for your business as it tracks product information and easily communicates product information to manufacturers.
3. Single Source of Data
Your pool of data has to be in the standard method and integration with each other. Would it not be easier; if you have a single source of data where your data is in the standard method and integration with each other? PDS is a tool for your single source of data problem. A variety of system data has to be targeted to the distribution channel.
The collection of specific, accurate, and reliable data from the different systems is equally a tedious task as collecting data from old files manually. But, when you have a single source of PDS you can collect the data in its system and you can deliver across channels.
4. Data Consistency
Data consistency and supply of data are two crucial things for any business. Luckily with PDS, you are away from the trouble because PDS generates consistent data throughout the product cycle. PDS not only generates consistent data but quickly supplies the data to manufacturers and merchants.
Manufacturers never need to wait for consistent product data to carry out their branding or other activities as PDS shares the data right on time. With lower efforts and lower cost; you can increase efficiency and productivity.
Biggest Pain Points That Product Data Syndication Solve
Your business has already many barriers while growing; so why need to have pain points when PDS can take care of it? Following are the biggest pain points that PDS solves.
1. Dismisses Manual Work
Whether your business is global or local; when you do manual work, you are bound to make mistakes. In a survey, it was found that lack of automation of data is one of the toughest pain points for any business. PDS takes care of automation data so that whenever any data has been updated you can get to know about the same. Dismiss your manual data, which may lead you to a complicated workflow.
2. Global Competition
Many companies are facing more competition than they ever did, because of the customer’s preference for globalized product purchase. The competition due to globalization will increase even more in upcoming years. For better growth of your business, you need PDS, which takes precise care of the global customer and their preference. PDS can easily supply information to merchants so that they can compete in the global market.
3. Faster Time-to-Market
Faster time to market is a process of coping up with market demand and the ability to deliver products to customers on trended demands. In increasing global competition it is one of the other pains to have faster time-to-market for any business. PDS solves the pain as through PDS medium you can supply data of the product to the merchant and they can brand the product accordingly so you can ultimately launch the product faster in the market.
Every customer is unique and so is their requirement. You need to maintain the standard context for each channel so that customers can have the best buying experience. You need to keep content engaging, use various attractive images, and just need to answer all the questions your customers ask. Don’t stop for generic content and always deliver more.
Consistent data is a magnet that attracts both customers and merchants. Your merchant and customer will be bound to trust you and show you confidence when you provide relevant consistent data to them. Many businesses fail to have consistent data when they follow old-fashioned product data tools, but with PDS you can never fail.
Product Information Management (PIM) & Product Data Syndication (PDS)
The Product Data Syndication capability of PIM has significant benefits for any business. By adopting PDS in the PIM platform your business can have high-quality data, real-time pricing, which will enable you for better customer support and deliver data on time to suppliers.
The collaboration of PIM with PDS lets you understand the unique requirements of trading partners and their tailored product data format. You also can have shared transformed and mapped consistency for your business.
Implementing Syndicated data will create new opportunities for enterprises to increase the customer experience and boost their sales ratio. Besides, sticking with the PDS along with the product data management (PDM) will allow enterprises to transfer quality data to different channels from the centralized location much faster.
Ways to use PIM’s Product Data Syndication to Create Global Product Experience
1. Data Integration and Standardization
For having a global product experience you need to have standard data on which you can rely completely. With PIM’s Product data Syndication, you can collect data or information from any source without worrying about the format of data. You can fetch data from anywhere and can integrate that data easily with PDS.
You can choose a definite place to put all the gathered data and put it in any desired format you want. Once data is formed in the desired format you can even merge it with new content that you may have found later onwards. Now you may wonder, how will you consolidate the data into a structured format? PDS has got you; as it filters out unstructured data, silo data, and gives you ultimately standard data.
2. Content tailoring
Now to fit the unique requirement of the output channel, you need structured product catalogs as you can’t rely on raw product information. You can use updated Chanel templates for mapping product data as per individual demands. You can have missing product information, overall channel health, and a visual summary of data with PDS.
In addition, you can also have tailored-made price formats, editing options, and character counts. With PIM and PDS you can match unique requirements instantly with structured product information. You can have a detailed summary of the product and according to the same, you can make other important decisions for your business.
3. Customization & optimization
With PIM and PDS you can achieve maximum performance by optimizing product catalogs on any channel and any market. Analysis of individual performance and visualization of critical data are only feasible because of PIM-PDS. Based on the analysis you can identify the lower performing items, which may be hindering your business.
With simple clicks, you can easily auto-generate product catalogs and infuse information. You can do a trial-error basis to compare the descriptive variants of products to see which generates the best results. You get an overview of missed opportunities, best practices, and optional attributes for your business.
Be it manufacturer or merchants or any other market, you can easily distribute product catalogs in any format you like. You can deliver product catalogs and product information in any marketplace. With PIM and PDS you can distribute the product information at the right time.
You can distribute the product data to concerned parties so that you can hit your target market easily. The best thing about distribution through PIM-PDS is that when you modify certain data, the distributed data automatically modifies if you update product information. You do not need to re-deliver the updated product information to merchants again and again.
Thus, PIM and PDS combine perfectly to deliver the right product information, increase customer touchpoints, and allow your business to be prepared for future challenges. To meet the customer’s evolving needs, implementing PIMCORE’s Product Data Syndication would be the perfect choice especially at the customer touchpoints for the enterprises.
The need for Product Data Syndication is a must for consistent data to be supplied to merchants at the right time to have a faster time to market and to have a competitive advantage over competitors. The management of complex data can be solved with the simple process of PDS. You can remove inconsistent and unimported data with PIM.
With PDS you can dismiss your manual work, where there are high chances of mistakes and you can increase the productivity and efficiency of your business. After the implementation of PDS, your merchants will never have to wait for proper relevant product information.