The opportunity of digital product content
Giving consumers the information they need to make a purchase choice is essential. Significant investments are made to achieve this in the physical domain, with on- pack copy and data extolling product benefits and unique selling points. When shopping in-store, consumers are able to study this on-pack information to determine if a product meets their needs and is aligned to their purchase preferences.
Many consumers will also do further research in store using their phones. However even basic product content is often not replicated in digital domains, and the consumer’s research is rarely enhanced with additional content. Too many products are displayed on retailers’ and brands’ own websites without product information, multiple images and the engaging information that consumers need. Whilst often this is due to limitations on the retailers’ website, a significant contributing factor is suppliers not providing this product information to retailers. The reasons for this will be familiar to many suppliers.
Dealing with the challenge?
Creating, managing and distributing product information is not a core capability of the average supplier. Few brands have the in-house expertise to create cost-effective product imagery, structure product data, and ensure it is delivered effectively in the hugely diverse and often complex ways that retailers require.
Unsurprisingly, there are few volunteers within brand and marketing teams to do the drudgerous but necessary work, to make brand products look good online. With all the other daily pressures, the dry task of product information is usually forgotten. Simply giving the problem to retailers does not wash. Retailers do not want to have to deal with the myriad of methods by which suppliers prefer to deliver this product information, and will often simply not list products for which they have missing product content.
As a result, expensive marketing campaigns move consumers to the point of
awareness and interest but then fail to convert because of lacking information at the point of purchase. These challenges results in lower sales, lower return on investment in new product development and more costs in dealing with the retailers’ requests. Simply put, without good product content, a product simply underperforms compared to its true potential, or better presented competitor products.
A holistic solution
SKUvantage was founded by former online retailers who intimately understood this challenge. The unique SKUvantage ecosystem of services and technology, supports the creation, management, syndication and publishing of product content and is used by hundreds of retailers and brands.
The SKUvantage solution suite is explicitly designed to solve the problem of how to deliver good product content to consumers. The core to this solution is the highly innovative SKUlibrary platform that helps drive sales whilst reducing cost with less effort, and helps brands extract more value from their product content.
Many brands use SKUlibrary as a single source of truth for product content, feeding retailers, brand sites, e-commerce platforms, fields sales tools and other marketing channels. The technology is complemented by SKUvantage services which provide cost-effective photography, render creation, data transcription, description writing, video and barcode verification reports. This combination of technology and service results in a turnkey solution to brands to get consumers the information they need and enhance product and brand performance.
SKUlibrary directly feeds this on-pack, enhanced and rich content to a diversity of small and large retailers, often creating an even more informative experience online, than in-store. SKUlibrary also saves time with effortless distribution of product content to colleagues and external customers via email but without annoying filesharing programs. This also includes the ability to download content in retailer upload formats – including that of Amazon, which is particularly challenging.
To drive performance, platform tools also report on product content completeness and content can be fed to third party auditing tools. This gives an instant view of the health of brands digital product content at source and as seen by consumers on retailers’ sites.
A compelling investment
SKUlibrary frees up brand teams to focus on what they do best; brand and new product development, with the confidence that product features and benefits will be communicated efficiently and cost effectively to consumers. Investment in product content is usually a fraction of 1% of the overall marketing budget, yet it enables and amplifies the performance of the other 99%.
It is no surprise that with this focus, SKUlibrary has become the leading product information management solution for brands in Australia. Over 200 FMCG companies, including over 80% of the top 50 brand driven FMCGs use SKUlibrary to realise the opportunity of digital to give consumers the information they need. Supporting their purchase journey both online and instore.
To learn more about how SKUlibrary can help you drive sales, reduce cost and save time with product content, click here: www.skulibrary.com/leadingfmcg