Product Data Syndication in Digital Commerce: From Buzzword to Necessity
Product Data Syndication (PDS) is no longer a trending term – but an integral capability consideration for any modern eCommerce enterprise pursuing scalable growth. According to Gartner, PDS is now a table-stakes functionality of a robust Product Information Management (PIM) system. And, is key to delivering rich, accurate, and relevant product information that positively impacts purchase decisions in a multi-channel commerce environment.
Relying on clunky spreadsheets, manual inputs, and glitchy connectors to distribute and showcase the right product data to relevant customers at the right time – is a thing of the past. Especially as complex commerce business models evolve, customer touchpoints expand, and expectations escalate.
With this backdrop, let’s take a granular look at all things Product Data Syndication and how it is critical to your long-term success.
What is Product Data Syndication?
Product Data Syndication (PDS) is the process of seamlessly managing, synchronizing, standardizing, and disseminating product information across multiple eCommerce platforms, sales channels, and marketplaces. This includes information such as product descriptions, specifications, prices, images, videos, or GIFs. Information that needs to be consistent and updated across online sales channels to help deliver frictionless browsing experiences, empower customers to make informed buying choices, and reduce cart abandonment rates.
Being able to ingest, enrich, and organize such product data on a single consolidated digital commerce platform is key here. Especially when you’re looking to deliver both consistent and differentiated product experiences during every shopping session.
What are the advantages of Product Data Syndication?
High-quality, low-latency product data at both your backend and frontend is important to maximize customer education and conversions. Here are some major advantages that efficient data syndication can bring to the table:
1. Improved accuracy of product information:
By centralizing data management and automating the dissemination process, you can ensure that product details are always consistent and uniform across all sales channels. This greatly reduces the chances of errors and customer confusion; while enhancing the credibility of your listings. Greater the customer confidence in your product offerings; greater the chances of transforming intent into buying action.
2. Increased operational efficiencies:
With Product Data Syndication, you can do away with the manual complexities of updating product details on every platform or sales channel. You can instead update all relevant information related to your product catalogue into a single source which then automatically funnels into your connected channels. Optimize your time and effort costs by focusing on big-picture strategy as your commerce operations scale across categories, sites, regions, or marketplaces.
3. Faster time-to-market and ROI realization:
Significantly expedite the time it takes to bring new products – across multiple categories – to market. By quickly updating product information across all channels, you can respond faster to market trends, customer demands, purchase patterns, inventory levels, and fulfillment scenarios. The faster you get to market, the more time you get to ramp up your conversion and revenue engine.
4. Increased multi-channel reach and visibility:
Product Data Syndication allows your digital commerce operations to scale much faster across sites, regions, geographies, and marketplaces. Surfacing accurate product information across diverse touchpoints such as social media and conversational commerce platforms will help you further engage existing customers and reach out to newer untapped segments to fuel greater growth.
5. Enhanced customer experience:
Delivering correct, complete, and coherent product information to your customers consistently is a great way to build trust and loyalty. Leave no scope for doubt as you bolster the end-to-end customer journey – from search, discovery, and browsing to purchase, shipment tracking, and delivery.
6.Better data insights = Better business decisions:
Focusing on educating, informing, and converting customers is only one-half of the growth puzzle. Product Data Syndication helps you gather deeper, accurate, and real-time insights into unique product, product bundle, or category performance data across all your active sales channels. Accurate insights into product visibility, CTRs, and conversion rates can be leveraged to manage inventory strategically, counter demand surges or falls, run personalized campaigns, and much more.
7. Increased marketplace compliance:
Whether you are working with a merchant network to sell on your first-party marketplace or selling directly on a third-party marketplace like Amazon or eBay; there is a degree of product information standardization that is required. Depending on specific requirements, data formats need to be adhered to. This has a direct impact on visibility, discoverability, and eventual sales. A strong Product Data Syndication capability can help you streamline such operations.
What are some Use Cases of Product Data Syndication?
Let’s look at some key use cases that Product Data Syndication can help you realize value with – depending upon your business model and sales channels:
1. E-Commerce Platforms:
You may have a single eCommerce platform or multiple sites across different regions, geographies, or languages. Scynchronising your product data can help ensure that product listings remain uniform and updated or modified in real-time, reflecting your available catalogue and inventory. This reduces the chances of discrepancies while improving the product experience for customers.
For example; consider a global athleisure brand like Nike with its own brand.com eCommerce stores across multiple countries such as India, UAE, South Africa, etc. By standardizing most elements of product data like format, font type, and size – and customizing other elements such as descriptions, specifications, variants, prices, and rich media; consistent product experiences can be delivered. They can update a specific product’s information into a centralized system; which then auto-updates across chosen listed platforms. Across product categories such as sportswear, sneakers, accessories, and more.
2. Marketplaces:
If you are a brand or manufacturer that sells its products on third-party marketplaces, syndicating product data helps maintain consistency and accuracy across different marketplace platforms. This reduces the risk of errors and miscommunication that could lead to lost sales or customer dissatisfaction.
For example; think of a Consumer Packaged Goods (CPG) brand like Kellogg’s. They digitally retail on marketplaces like Amazon, Walmart, and regional grocery players. Product Data Syndication allows them to comply with specific marketplace listing requirements. And, also ensure that customers benefit from consistent product presentation – seeing the same high-quality images, specifications, and pricing; regardless of the marketplace they visit.
3. Omnichannel commerce:
In case you are a retailer with a phygital presence across physical stores, online eCommerce platforms, mobile apps, and more – you need to syndicate your product information as you scale. This is to deliver seamless customer experiences by keeping relevant product data consistent across all active touchpoints.
For example; consider the case of a global electronics giant like Samsung. They operate multiple offline brick-and-mortar stores, brand.com merchant network marketplaces, and more – across different countries like the UK and Turkey. By adopting Product Data Syndication; they ensure that product descriptions, images, pricing, stock levels, etc. stay consistent to increase the chances of product purchase or trade-in.
4. Social commerce:
Businesses that use social media to promote their products can benefit from data syndication by ensuring that product information is uniformly presented across platforms like Facebook, Instagram, and Pinterest. This helps in maintaining brand consistency and engaging potential customers effectively.
For example; think of a beauty and cosmetics brand such as Sephora. They actively leverage social media platforms like Instagram, TikTok, and Facebook to sell their products. By using data syndication, they ensure that product information such as descriptions and promotional prices stay consistent and coherent across all social media ads and posts.
Food for thought
On the surface, Product Data Syndication may appear to be a non-negotiable functionality. But, there are brands that still continue to get it wrong, especially as scale and complexity enter the picture. It is particularly useful when selling your products on third-party platforms or websites. Since the Original Equipment Manufacturer (OEM) needs to maintain a standard corporate identity – data syndication can accomplish this with a straight-forward front-end integration; without any back-end heavy lifting.
With the integration of GenAI, data syndication promises to get a further boost with rich auto-generated product descriptions and details that can be standardized across channels. Emerging trends such as virtual trials, 3D modeling, and more will also influence the future of Product Data Syndication. Developing a sustainable competitive edge in an increasingly cluttered and dynamic market has never been more critical. With effective Product Data Syndication you become that much closer to that goal.
To learn how Akinon can enable you to elevate your product information management game as you scale your commerce operations – get in touch with us, today.
