Keeping modern-day customers happy is no walk in the park. In this article, a recent study found that 55% of visitors spend less than 15 seconds on an ecommerce site. Now, if keeping prospective clients in your Magento store isn’t tough enough, this study found that the average conversion rate is 2-2.5% which means that converting them is an even tougher job.
The same study discovered that the conversion rate for visitors who land directly on a product page is around 7%. And this is why optimized product pages are crucial.
But where does product data management fit in?
Many are unsure what PIM for ecommerce is, as it can go by many names such as product database, product content management tool, and product data management software. But, essentially product information management software is a tool that allows businesses to consolidate and manage their entire product catalog in one centralized location. Having a product information database helps you cut back on the time spent managing product information in various places, and it gives you more time to enrich your product data so that it can convert a visitor into a returning customer.
But, centralization isn’t the only benefit of a product information management tool. In this article we will discuss 1) how to enhance your Magento (Adobe Commerce) product pages and 2) how PIM software can help.
Ecommerce stores using Magento know the challenges that come with content, especially how it appears once loaded. There are a number of ways to solve this problem and other Magento issues but if your content isn’t accurate, what’s the point in trying?
For your product pages to convert customers, you need to keep all your information such as pricing, availability, sizing, material, etc. updated. While this may be a tough job for a spreadsheet as it wasn’t meant to handle large sets of data, a PIM does this with ease. A PIM tool has data validation capabilities meaning that it can easily pick up on errors, and missing or incomplete information. You can ensure all necessary fields are filled in, complete, validated, and standardized to meet both Magento formatting requirements and your customers’ expectations.
Pro tip: be sure to add a Magento 2 SEO extension to help increase visibility and improve conversions.
Customer reviews can help you understand where your business can improve in the customer experience. They also tell customers how many people enjoyed and approve of your products, increasing your chances of making a sale. This article states that customers read an average of ten online reviews before they feel like they can trust a local brand. So, having a couple of reviews can be what you need to enhance your product page especially if you’re a local or small business.
To manage customer reviews and testimonials, you can use Magento marketplace extensions, which create a review section on your product pages, or you can manage it in the Admin panel. But, what happens when you wish to find customer reviews for a sales process or to promote on your website? This is where a PIM for Magento comes in. Not only does it store product information but also sales information such as pricing, customer reviews, and testimonials so you can always find them with ease.
Online shopping can feel somewhat impersonal; you can not physically touch or decipher how you feel about a product. According to this article, 65% of the population are visual learners, which means digital assets will influence them more than words. Other statistics also show that having customer reviews and user-generated content, like photos and videos, makes 65% of customers trust a product even more. It’s clear that if you wish to improve your customers’ experience when navigating your ecommerce store, you need to have high-quality digital assets.
Depending on how big your catalog is, you’ll have a lot of multimedia for your Magento store and other sales channels. Managing that can be easier with a catalog management system as most PIMs have digital asset management capabilities to ensure you can store your videos and images in the same place as your product information.
This is a tactic that is known to help increase sales. It doesn’t just bring in more conversions, but it is also a good way to gain customers’ trust and improve satisfaction, as it focuses on meeting customers’ potential needs. With a PIM solution, you can create product relationships that help you create connections between products you think a customer might be interested in purchasing.
This can be for product recommendations, upselling, cross-selling, or bundles. This is also an effective way to personalize a customer's shopping experience which nearly 80% of online shoppers say is what would make them become returning customers.
Good product descriptions have the potential to help increase your visibility online if you’ve incorporated keywords, and they also help customers connect with your brand and convince them to make a purchase. And while every ecommerce business has product descriptions, how many are actually creating killer content?
According to Nielsen Norman Group, “One shopper in a recent study could not find the information he needed in the product description, so he left the site to search Google for more product information. In the course of his search, he found another site with the same product, a more complete description, and a lower price.”
This is the power of product descriptions and why it’s so important to make sure you write engaging and informative content. Having a PIM tool makes the process of managing, creating, testing, and enriching that content all the easier as you have a centralized location.
For a customer to enjoy their shopping experience with you, they need to be able to navigate through your product pages without any disruptions. There should be a structure that allows them to go from your landing page to your product page to a specific product type with ease.
As we mentioned above, customers only spend 15 seconds on a page before they look elsewhere, and while there are a number of reasons for this, studies show that only a small percentage of businesses focus on product categorization, 10% to be exact. So, if you don’t have proper product page navigation, it may be time to focus on your website structure and product taxonomy. Product information systems have functionalities that allow you to auto-categorize taxonomies, making yet another product data-related task easier.
It’s clear that a product information management (PIM) tool is a must-have for an ecommerce business. Not only does it make managing heaps of information easier, but it also can help you optimize your existing content to ensure you improve the experience customers have with your online store and ultimately improve sales.
Plytix is a PIM for small businesses that has competitive prices and offers you a range of modules to help you succeed in your endeavors. Whether it’s to simplify product data management, manage a range of sales distribution channels, create e-catalogs, or sell sheets, we’ve got you covered.
Download our free white paper to see how you can further improve your product information for Magento. Or if you’re interested in what Plytix has to offer as a whole, contact us today, we’d be happy to talk you through our modules.