ETIM 9.0 has been released – what should be considered?
Since December 2022 there is a new update to ETIM 9.0. Almost 5000 change requests submitted from 20 countries have been processed, 200 new classifications are included in the new version.
One of the most time-consuming activities for product managers in e-commerce is channel-specific product data management. If this is done manually, it not only leads to higher error rates in the entire information supply chain, but also to major delays in the marketing and distribution of products:
“A McKinsey study reports that, on average, companies lose 33% of after-tax profit when they ship products six months late, as compared with losses of 3.5% when they overspend 50% on product development. “
A successful e-commerce strategy today includes multichannel and omnichannel commerce services. That’s why successful manufacturers and retailers are also present everywhere. They sell on multiple channels, in multiple regions, in multiple languages. A single buying process often involves multiple touchpoints across multiple channels. And each touchpoint, in the best case, offers the customer a unique product experience and positively influences the purchase decision process.
"In food retailing, 46% of consumers use 2 to 3 sources of product information, and 31% use 4 or more before making a purchase. A similar situation can be seen in the "fashion and apparel" sector, where 39% use 2 to 3 sources. 43% even said they use 4 sources or more."
If marketing and sales managers want to compete, they should be able to respond quickly to these demands in the e-commerce landscape. If they know what works on each channel, they can optimize their product listings in the right way. In the long term, optimizing product listings increases organic visibility in search engines and marketplaces and drives more traffic, which can reduce ad costs. At the same time, optimized product lists can increase conversion rates and reduce return rates.
Consider the requirements for each channel separately: regardless of which channel you sell on, each of them has its specific content and visual requirements. Product descriptions and product images that are suitable for Amazon are not necessarily suitable for eBay or Google Shopping, as each platform uses different algorithms to prioritize certain information. If sales managers are aiming for higher rankings across channels, it is advisable to create different entries for each channel.
Excel lists are impractical for product list optimization. For each product, a new entry must be created for each channel. Inaccuracies and duplicate content are pre-programmed here. This is where a Product Information Management system (PIM) can help. Not only global brands use a PIM to get their products to market faster and ensure brand consistency. Small and medium-sized companies are also increasingly turning to a PIM system, as these scale quickly with the growing scope of products and already guarantee a high return on investment in the medium term.
Convince yourself in a non-binding online demo how the PIM system prodexa Cloud supports you as a manufacturer or retailer in the B2C or B2B environment to market your products professionally and quickly on all relevant channels. prodexa Cloud brings together data from a wide variety of sources, cleans and completes them and distributes them to all relevant channels.
Weitere Beiträge:
Since December 2022 there is a new update to ETIM 9.0. Almost 5000 change requests submitted from 20 countries have been processed, 200 new classifications are included in the new version.
We highlight the key challenges retailers and manufacturers face when targeting their e-commerce offerings in new markets and explain why a PIM system is the foundation for international expansion.
Manually collecting product data from numerous suppliers and manufacturers can result in very time-consuming and error-prone processes for retailers. We show how retailers can use intelligent supplier onboarding to transfer product data quickly and securely, thereby ensuring scalable workflows.
Due to their enormous reach, online marketplaces are increasingly being taken into account in B2B and
B2C when designing their own e-commerce strategy. We show which online marketplaces are leading in
Germany and give you tips on how to market your products successfully on them.
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