In the ecommerce world, you can never take one winning strategy and run with it for life. You constantly have to be ready to change strategies to meet the shifting wants, needs, and behaviors of shoppers. That’s something that is 10 times more challenging (and almost impossible) for businesses with fewer resources or previous disadvantages to achieve. These businesses can be classified as:
- Small to medium-sized businesses (SMBs)
- Minority business enterprise (MBEs)
- Family-run or historic companies
- Businesses owned by people of color (POC), minorities, immigrants, and women
- Companies with fewer employees and less annual revenue than a corporation
These businesses are competing with large enterprises that have the financial backing and resources to tackle any customer demand that comes up on the trends list. And, that’s exactly why brand diversity matters in ecommerce selling.
What is brand diversity in ecommerce?
In this context, brand diversity is all about options.
It's about opening up a variety of choices when it comes to product visibility.
Put simply, when shoppers are searching for an item, the results should present product options from brands of all shapes and sizes. However, our reality doesn’t reflect that in ecommerce selling. Smaller businesses don’t generally have the budget to spend on search engine marketing (SEM) efforts to ensure that their products rank as high as the products of big businesses in the same categories.
As a result, ensuring that all businesses have a fair chance at wooing customers is a huge challenge. But not all is lost; smaller businesses can have a fighting chance.
How brand diversity becomes a possibility with PIM:
1. Multichannel selling
Nowadays, customers shop on different sales channels, including web stores, marketplaces, comparison shopping engines (CSEs), and social media platforms.
That means having a single sales channel will not be enough to ensure that your products are visible everywhere customers shop and search for products.
Studies show that 52% of customers start their online shopping journey on online marketplaces, while 30% begin browsing on Google, and 9% of others begin with a brand or retailer’s ecommerce website. Going multichannel will ensure that you don’t put your eggs in a single basket and hope to magically reap significant benefits. If you don’t know what to do or where to start, here's a quick crash course to wining at multichannel commerce as a small business owner.
2. Omnichannel customer service
Customer experience doesn’t stop at being available on different sales channels; you have to be omnichannel in the service you deliver. By definition, omnichannel commerce is about delivering cohesive customer service across all touchpoints, and research reveals that 90% of customers expect this at all times.
For example, if a customer discovers your product on a marketplace or in-store and decides to visit your web store for more, they expect the same interaction they experienced on their discovery channel. If they’re satisfied with their interaction with your brand on different channels, they’re going to buy from you.
The role of Product Information Management in ecommerce
If you don’t have quality product content, your products will not be visible on search engines, on the best marketplace platforms, or even on social media platforms. That’s why product content management is super duper important!
You have to consistently ensure that your product information is accurate, up-to-date, and high quality. The surefire way to effectively manage product data is through a Product Information Management (PIM) system. Why? Because a PIM system helps you store optimized, and enriched product data in a central location.
In our studies, we’ve found that those that adopt PIM can expect to grow their sales on Google Shopping, Amazon, eBay, and more by 50% in just two years. And, contrary to the floating myths about PIMs, not all of them are expensive and inaccessible to smaller businesses with limited funds and/or resources. There are PIMs built (and priced!) specifically for these emerging unicorn businesses to ensure that they too can reap the benefits of automated ecommerce processes.
About Plytix PIM
When we created Plytix PIM, we wanted ordinary businesses to achieve the extraordinary by using resources within their reach. Our PIM is definitely within your reach, not only because our prices are low in comparison PIMs like Salsify, but also because we’re passionate about helping the little guys achieve brand diversity. We want your products to be visible everywhere and always be top of mind for customers browsing or searching with the intent to purchase.
With PIM, you can optimize detailed, engaging information such as product titles, product descriptions, and high-quality digital assets such as images and videos, to differentiate your products against your competitors. Plytix is built with a validation completion feature that acts as a guide to help you add all necessary product information needed to improve customer experiences and conversions.
We made sure our PIM makes product content syndication for multichannel commerce simple, so you don’t waste hours trying to manually prepare content to sync to multiple sales channels. You simply load, tweak, update, and distribute with ease. Then, sit back, analyze and watch the fruits of your efforts come to life.
Want to see Plytix PIM in action? Try it free to experience it first-hand.