When B2B manufacturers strive to optimize their product content, one area that really needs their time and focus is product data syndication. Sharing product information in a way that it reaches the right stakeholders at the right time is extremely critical to keep up with the ever-changing multi-channel B2B landscape. Whether this data is being brought in from external sources or being moved to the cloud – product data syndication helps in getting product information to the required marketplaces faster, while paving the way for better responses to customers, improved customer experience, and enhanced sales.
Why product data syndication matters
Today’s B2B consumers are more tech-savvy and informed than ever before. With no dearth of buying options, they are leveraging multiple channels and devices to carry out product research. For such consumers, delivering data that is accurate, complete, and consistent across all touchpoints is vital to accelerate the sales cycle.
Product data syndication helps manufacturers easily manage the distribution of product content while allowing them to share, tailor, and optimize content to any channel at any time - easily and quickly.
By creating powerful and consistent product stories across all channels, product data syndication sets the stage for seamless omnichannel customer experience. It helps organizations to
- Distribute consistent and accurate product content across all digital touchpoints and accelerate time to market
- Overcome the need to manually add, edit, or update content and increase productivity and efficiency.
- Deliver channel-ready content to retailers, distributors, and customers – when they need it, where they need it, and in the format they desire.
- Strengthen relationships with stakeholders through constant delivery of high-quality and timely product content.
- Seamlessly manage existing channels as well as capitalize on emerging opportunities to grow and scale the business.
The challenges that it brings
Despite the several advantages of product data syndication, there are a few challenges B2B organizations face in getting there.
Here’s a look at the top 5 challenges:
- Adhering to strict guidelines: When it comes to delivering product content to different stakeholders, most manufacturers struggle to comply with strict guidelines for shipping labels and packaging formats. These guidelines are designed to avoid chargebacks. But syndicating product catalogs to comply with these requirements in accordance with every channel’s rules is extremely complex and challenging.
- Tailoring content for different channels: Despite manufacturers driving efforts in curating consistent, accurate, and updated product content, when it comes to distributing it, each channel comes up with its own unique product content specifications and rules. Delivering tailored product content to suit the needs of different channels can take up valuable time. This delays the speed at which products can be brought to the market.
- High operational costs: B2B companies that resort to manual ways to update and distribute content end up spending an excessive amount of time and money maintaining their product syndication pipeline. When faced with hundreds of spreadsheets that require detailed manual upkeep, product teams are forced to take time away from other important projects – leading to high operational costs and missed opportunities.
- Losing revenue in the process: When manufacturers are in the process of tailoring content or complying with strict requirements, they also run the risk of lost revenue opportunities. Any delay in distributing content means manufacturers do not have anything to offer to customers, which can also result in lost competitive advantage.
- Missing out on new opportunities: Maintaining and keeping the content on the current channels up-to-date is a time-consuming process. It requires B2B manufacturers to divert several resources for constant upkeep. This makes them miss out on other revenue-driving opportunities since they are unable to pursue them due to a lack of available resources – thus restricting them from growing or scaling their business.
Overcoming challenges with a cloud-based platform
Using a cloud-based channel management software is one of the best ways for B2B companies to manage, transform, and publish personalized product content across channel partners and marketplaces.
By accelerating and optimizing the distribution of product information across different channels, it ensures timely and accurate availability of product data positively – thus increasing products’ findability and sales.
Modern cloud-based platforms have built-in machine learning-powered recommendation engines that reduce guesswork and increase efficiency while making it easy to achieve scale and sustainability. B2B companies that use such a platform can
- Eliminate manual efforts (and costs) associated with Excel data entry and maintenance.
- Connect different categories and attributes with simple point-and-click workflows and update content in real-time.
- Automate workflows – easily – and apply global rules quickly and efficiently.
- Leverage modern dashboarding and analytics capabilities to get a holistic view of product syndication across trading partners.
- Achieve smart recommendations on how best to deliver data and comply with industry standards.
- Update all channels with new product data or changes in minutes and improve time to the digital shelf.
- Tailor content across different channels and touchpoints with specific pricing and language requirements.
Are you looking to meet your channel requirements 100% every time? Implement a cloud-based syndication platform today!