Manufacturers and distributors hear it every day – and as consumers, they experience it every day: the digital commerce revolution. B2B buyers have realized that e-commerce simplifies their job and so they demand a rich online experience that leads them to the product they’re looking for, with detailed product information that makes it easy to evaluate it. But how do you make sure you can feed these expectations? The critical enabling factor is the ability to manage and process product-related data from multiple sources.
A guest article with Rob Neumann from our Platinum Partner CSS Commerce.
A better B2B E-commerce experience…driven by product data
Large data sets of products, their descriptions, prices, part numbers, images, and CAD/BIM files are just the beginning of the data needed to support B2B commerce. Without it, there’s no search result for products that are usually complex, highly attributed, multi-variant, and configurable.
Sound extreme? More than 60% of B2B online stores will return a ‘null search’ when someone enters a query for a product (unless it was searched for as an engineer would do). And if it can’t be found, it can’t be bought. Companies struggle to identify the right way of consolidating and managing product-related data which often sits in disparate data silos such as ERP, PIM, and various spreadsheets. This slows down digital commerce initiatives and the ROI of your e-commerce platform.
So, how do you move from a data silo state into an integrated e-commerce business that drives revenue through accurate search results and personalized recommendations?
Two keys to success when it comes to product data
We have two universal keys to success to get your data house in order: Authenticated identity and Common Data Structure & Language (in geek speak we call it Relational Keys and Master Data Taxonomy).
- Authenticate the identity
Whether it’s a product’s name, a description, the dimensions and weight of an industrial good, or shipping restrictions: The first step is to define a set of relevant attributes that are standardized throughout the business structure and that can uniquely identify each record within a data table. This will greatly facilitate cross-departmental information sharing and is the key to unlocking the door to successfully selling online. - Create a common data structure and language
As you think about data that you need to use across your organization, creating a standard, common language for your products and attributes will be key to better communication. With a common language, a product name (and other identifiers) remains consistent whether in finance or in the logistics department. In doing so, you create a single source of truth. And good data management is about managing a single source of truth!
Master data and a good taxonomy will drive better search results and higher margin sales
Product data as an important conversion trigger
The customer journey begins with finding and evaluating the right product. Write the product descriptions the way your buyer uses the product, and add variations of the name, common misspellings, equivalent brand names, custom sizes, unique packaging (e.g. pallets), and shipping options as attributes or synonyms. The powerful search capabilities of your e-commerce platform do the rest, ensuring that search queries are converted into purchases.
Up-sell and cross-sell opportunities
Introduce additional products that are related to products in the cart or to previous purchases that have been made. You might also want to think about secondary product lines that are not tied to the product but ones that can be substituted, upgraded, or include a valuable add-on such as installation services. The foundation for this is a consolidated, comprehensive, and reliable product data source with product relationships that makes it easier for customers to discover the cross-sell and up-sell offers across your omnichannel touchpoints. Yes, even in B2B there are a variety of ways to showcase new and additional products to increase wallet share.
Product Data Bundles
Product bundling is a powerful way of boosting average order values and sales margins by introducing related products and grouping them under one SKU. For this, it’s crucial to develop and maintain a SKU catalog that optimally supports product bundling without increasing SKU redundancy and thus inflating the catalog uncontrollably. Start by eliminating duplication and standardizing your SKU data. A proper SKU catalog is well-structured and uses a standardized taxonomy throughout departments and catalogs that make it easy to create an intuitive hierarchy with logical grouping practices.
Working on your 2022 e-commerce project and need help with your data strategy?
As B2B e-commerce initiatives continue to skyrocket, speed is becoming the new currency to stay ahead of your competitors. Intershop and CSS Commerce teamed up to manage data issues and to accelerate your e-commerce success in 2022. Contact us for a free consultation today!
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