The truth is if you want to take your established eCommerce brand and grow it into a multichannel converting machine, you need to diversify across marketplaces and channels to reach even more customers and increase your sales. To do this effectively, you’re going to need a robust product data management tool to ensure you are creating a consistent customer experience across all your channels in real-time. This means knowing when to upgrade to an advanced product data management tool can make or break your growing multichannel business.
If you are a merchant with an ever-growing list of SKUs that fluctuates from channel to channel, and you’re not yet using any product data management tools, you’re missing out in a big way. Even worse, if you are using a basic management tool without the advanced functions needed to grow with your business into a multi-million dollar eCommerce empire, then there is a big chance your competitors are leaving you in their dust.
Why? Because a good management tool will enable you to keep your product data consistent on all channels in real-time, make catalog uploading quick and easy, help reduce the hours and hours of the workforce needed to optimize front and backend data and enables you to easily and consistently grow your product catalog while automatically managing suppliers and fulfillment.
In this post, we give you the six benefits of using an advanced product data management tool to help streamline your business and boost sales.
1. Takes Streamlined Multichannel Listing Management to the Next Level
One of the top benefits of using an advanced product data management tool for your eCommerce business is in its listing management capabilities. Taking multichannel listings to the next level, an advanced tool will not only let you create product listings from scratch but let you quickly and seamlessly list products per channel, include and exclude products with a tick of a box, continually sync across all channels and warehouses, offer inventory masking and more – all from one convenient dashboard.
2. Includes Advanced Feed Management Features for Advertising, Site Search & Email Marketing Channels for Better ROAS
It’s not just your sales channel listings you need to manage when selling on various channels, but your product feeds to various marketing and site-related channels themselves. Product feeds for platforms such as Facebook, Google PLA, Bing, site search tools like Nextopia, SLI system, email marketing software such as Klaviyo or Bronto and more are vital for any advanced eCommerce business strategy. An advanced eCommerce data management tool streamlines this process by enabling you to create feeds for marketing and advertising channels in any format while allowing you to separate marketing channels and feeds to optimize your advertising ROAS across marketing channels. And as we all know, better ROAS means more sales for your budget!
3. Offers Progressive Inventory and Order Management to Improve Shopping Experience and Sales
One of the cornerstones of data management tools for eCommerce is their inventory management automation. This ensures that all inventory product data is automatically updated no matter which marketplace the sale is made on or which location the order is being fulfilled from. However, advanced tools take it a step further by offering multi-warehouse support with its 3PL and shipping management integrations.
4. Ensures You Can Adjust to Market Changes in Real-Time
As the eCommerce industry grows, so will the number of close competitors and the number of market fluctuations in your niche. Additionally, each marketplace or channel is also constantly evolving, which means you have to be on the constant lookout across all channels and adapt quickly to ensure conversion rates do not drop. This can feel like a full-time job, with many changes falling through the cracks, unless you have a cutting-edge data management tool.
Another important benefit of investing in an advanced data management tool for your growing business is the ability to automate your repricing and competition watching across all your sales channels.
5. Gives You Instant Access to In-Depth Data You Can Use to Adapt Strategies and Boost Sales
Last, but by no means least, eCommerce data management tools will provide you with invaluable data you can use at the product, category, brand, or channel level to optimize your business and increase sales. With access to precise data and reports collected across all your channels, growing multichannel sellers can assess order, revenue, profitability, product/channel, and best-seller product performance from a variety of sources to help push sales-driving strategies.
