Traditional practices lay some restrictions, and this seems to hinder businesses from making an impact on their bottom line. Omnichannel experiences need to be supported with large amounts of content information, which is unmanageable with traditional methods. To tackle this situation, new technological solutions need to be implemented
FREMONT, CA: Omnichannel trends are having a significant impact on the B2C space, and B2B organizations are quite aware of this. Studies have shown that 80 percent of B2B organizations are facing more competition than they did five years ago. This is a sign for companies to transform and deliver experiences that stand out from the rest. However, achieving this success is not as simple as it sounds.
Traditional practices lay some restrictions, and this seems to hinder businesses from making an impact on their bottom line. Omnichannel experiences need to be supported with large amounts of content information, which is unmanageable with traditional methods. To tackle this situation, new technological solutions need to be implemented. This helps deliver accurate and reliable product information from the beginning of the supply chain until the point of product delivery.
The B-to-B Product Information Problem
The rapid transformation of the retail sector demands B2B marketers to prove their ability to remain agile in the face of omnichannel demands. New merchandising strategies need to be adopted faster than ever before, against greater competition and across more channels. In doing so, accuracy can be the most challenging aspect of a product launch. Product launch delays can often harm the business.
In an era of increased competition, channels, and customer expectations, these challenges can be adequate to hinder transformation efforts made by any organization. Marketing is a simple term that means to grow the relationship between brand and business. But merchandising is the process that encourages growth and sales. It resonates in the way a customer feels when they see the product before buying it, a sense of trust that they are purchasing something worth the money.
The existing marketing technologies and strategies can be inadequate to streamline customer experiences from a product content standpoint. Marketers are still tackling outdated Excel spreadsheets and operations to keep product information up to date. Hence marketers need to upgrade their marketing stack with more sophisticated data and solutions. Once the obstacle of having too much product information is overcome, marketers can create a smoother shift to omnichannel retail and improve alignment with sales, engineering, product teams, customer support, and IT.
Transforming Product Information Management for Omnichannel
The race to see which brand delivers what the customer demands are real. B2B retailers tens of thousands of products, copying and pasting inventory pricing and other pieces of product information across hundreds of channels, a significant waste of marketing resources. This can be overcome by bringing in new levels of automation to product information management.
New solutions can help marketers gain full control of product portfolios with central management and single versions of product marketing data regardless of channel volume. It enables businesses to publish consistent and complete product stories that reduce return rates. These solutions can help in solidifying a global presence. They can be scaled quickly and easily across marketplaces and channels with seamless translation and adaptive workflows for greater efficiency.
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