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The Product Data Lab

Product Data: Best Practices are Dead. Experimentation is in.

In a world increasingly technology-reliant, consumers are smarter than ever, with shorter attention spans and higher expectations. Retailers are running to keep up with demands and many are struggling under the pressure.

This change in consumer behaviour has meant that new strategies have had to be put in place to analyse customer journeys; to find out what makes them click. It’s not enough to rely on ‘best practices’ anymore when optimising your product content.

A few years ago, data feeds were just a utility: retailers paid for it, turned it on and only remembered it if it malfunctioned. Now, keeping up with consumer demands means retailers must use product data to its full potential. This means getting down to the nitty gritty of their product data and ensure product titles, for example, include exactly what consumers are searching, in realtime, for each channel.

Instead of simply collecting data, retailers need to analyse and derive meaningful insights from it. When the number of variables and labels are factored in, the situation becomes even more complicated.

Channels such as Facebook and Google know your interests, spending habits, browser history and location. They know when and where you are most likely to spend; they know when you’re on your morning commute, or browsing eBay because you’re bored. They know exactly how and when to target their ads..

With that in mind, how can a standardised set of rules for product content be applied when optimising for a moment?

 

“…digital commerce is no longer about the survival of the fittest, but the survival of the fastest.” – Fiona Byrd, Watson Marketing business leader, IBM Watson Customer Engagement

 

Customer connection is now, more than ever, reliant on consumer data analytics and the speed at which companies can keep up. One of the best ways to do this is by regularly optimising your product content, but how do you do this without dedicating an inordinate amount of time to manually analysing and sifting through the sheer amount of it?

 

Why Product Content Experimentation is the Way Forward

 

Consumer behaviour has changed a lot over the past decade and new technologies mean it’s harder than ever to optimise product content in a way that will boost your visibility.

The answer to this is product content experimentation – science-backed, metric-driven experimentation of product content – which produces reliable insights into customer journeys.

Are consumers drawn most to a picture of women’s shoes by themselves or on a model? What about the brand or the colour of a dress at the beginning of a title? Which category does a maxi dress work best in?

This is where content experimentation comes in.

By running either A/B or multivariate testing (MVT), retailers can better understand the way in which consumers interact with their products across multiple channels and get ahead of the game by identifying trends.

Where product content data is concerned, it’s time to say goodbye to best practice and welcome in a new era of data intelligence.

 

Get in-touch if you'd like to find out more about Intelligent Reach's Experimentation module.

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By powering optimum product data, Intelligent Reach helps retailers & brands optimise the offsite product discovery journey, ensuring no matter when or where your ideal customers interact, they will find your products and convert.

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