The foundation for digital experiences across channels
In 2021 alone, $1.5 trillion was spent on digital transformation technology across the globe. And in 2023, that figure is expected to more than triple and reach $6.8 trillion. Roughly 56% of companies worldwide are naming digital transformation as a top priority for the year, but only 7% of companies claim they’ve fully implemented their digital transformation.
The movement toward creating compelling digital experiences is in full swing and shows no signs of slowing down. And with new digital channels emerging every day, from social media apps looking to break into ecommerce to new retailers coming onto the scene to new technological advancements changing the way people shop and search for products, it’s clear to see that the digital transformation moves fast with no pity for those organizations that fall behind.
In the early days of digital transformation, “keeping up” essentially meant having a presence on these ecommerce channels. Organizations were taking their existing product content and plugging it into a new touchpoint, making either no customizations at all or a few manual fixes here and there to get the information to fit.
With such a wide range of technological channels today, this system is simply out of date and inefficient. Your customers may discover your product through a traditional Google search, but they may go to Instagram to see what their favorite influencer is using. They may ask their Alexa to add a product to their shopping cart. They may head to Amazon or another third-party retailer they trust to find what they’re looking for. Studies are now showing that they may even be heading to TikTok to search for organic recommendations.
With over two-thirds of shoppers saying they would abandon a purchase due to a poor product experience, it’s crucial for brands and retailers to not just show up on every channel but offer consistent and personalized product experiences on each and every one.
For almost every business, the biggest obstacle often emerges very early on. If your organization doesn’t have the right technology to create a foundation of strong product information management, your digital transformation efforts will truly never get off the ground.
Too many organizations get ahead of themselves and try to adapt their current hodge-podge system of managing product information to these new digital channels — and their customers’ experience ends up falling short as a result. Either they’re too slow to activate product information on new channels or markets, their product information is incomplete or just plain incorrect, or their visual assets are not personalized to the channel.
What does this lead to? Missed sales opportunities, high return rates, negative impacts on your brand’s reputation, and unsatisfied customers.
Like any good architect, carpenter, or baker will tell you, the key to success lies in your foundation. In the case of brands and retailers working on digital transformation, this means organizing and understanding your product information. By using a solution like Akeneo Product Cloud, which integrates with Adobe Commerce via the Akeneo PIM Connector, you’ll create a single source of truth for all your product information and lay the foundation for your team to personalize and activate your product story across every channel — whether it’s owned by you or not.
Four steps to setting your organization up for digital transformation success
- Centralize all your product data
When we say all your product information, we do mean all of it. Not just the title, description, size, color, and so on but all the dynamic data that buyers are looking for — like reviews, sourcing, pricing, availability, and more.
- Connect your existing tools
The combination of communication and connection between all your data management products is what prevents data silos and lost information. Connecting all the data that is managed with different tools by different people allows for a single product record to be orchestrated as necessary.
- Activate your product record
Syndicate your centralized information to all the different channels you need to be on, adhering to the personalized requirements of each channel.
- Analyze product record performance
Lastly, take a look at how that product record is performing across all your channels, with insights that guide you to the best ways to optimize that product record to help you achieve your growth goals or eliminate poor product experiences.
The push toward digital channels is here to stay, and to stay ahead of the competition, brands and retailers need to provide exceptional customer experiences across touchpoints. Setting yourself up to optimize the true potential of each channel requires an omnichannel product activation strategy and a strong foundation of product information.
This is a partnership post with Akeneo, an Adobe Exchange Partner at the “accelerate” level.
Learn more at akeneo.com.
Casey Paxton is the content marketing manager at Akeneo, a French-based ecommerce software company that's a member of the Adobe Exchange Partner Program for Experience Cloud. Paxton graduated from Northeastern University with a double major in marketing and communications and has worked for top software companies like Akeneo and Parative. With a passion for storytelling and staying ahead of the commerce curve, Paxton is a three-time published author and frequent writer for the Akeneo blog who focuses on ecommerce, retail, and software trends.