How to win market share with product syndication


March 31, 2020

Reaching new channels, marketplaces, and data pools quickly is essential to compete and drive revenue today.

Consumers today have endless buying options and endless channels to research and shop for products. The need for digital commerce is essential during these challenging times. The omnichannel experience represents a seismic shift for marketers and commerce teams; forget everything you know about the path of the purchase. It’s all about to change.

Google research on the customer journey is eye-opening: Today’s shoppers have dozens—even hundreds—of touchpoints on the buying journey. Consumers expect to find the products they’re looking for on every channel they use and they expect the product information to be accurate, complete, and most of all consistent.

That presents a huge challenge for brands that want to expand their presence and grow their market share. If your products aren’t everywhere your buyers are researching, you’re losing sales to a competitor. And if your product experience is lackluster or inconsistent, you risk damaging your brand in the process.

Retailers don’t make the omnichannel experience easy. Brands and manufacturers are familiar with retailer roadblocks to getting your products on the digital shelf. Amazon, which is the starting point for 66% of online buying journeys, continually changes its PDP requirements and algorithms, so keeping your products both findable and shoppable is a major challenge. It’s the same story with other online marketplaces, wholesaler partners, data pools, and channel partners.

It’s clear that if your buyers are omnichannel, you need to be, too; getting there is the problem.

Manual content distribution doesn’t cut it

When each channel has its own content specifications, formats, and file type, distributing product information from spreadsheets can take hundreds of hours. Supplying your existing channels with updated, enriched content taxes your resources leaving nothing left for expansion.

Not only that, but it’s also a process ripe for human error. This results in lost revenue due to disapproved products, products pulled for inaccurate information, and even financial penalties assessed. No one has time for that.

Inefficiencies can be costly. Brands suffer decreased selling days from slow time to market and the inability to enter new channels or data pools efficiently. When revenue-driving opportunities open up, cumbersome manual processes requiring heavy IT support prevent brands and manufacturers from moving quickly to capitalize on them.

These challenges prevent expanding into new channels, remaining competitive, and growing market share.

Product content syndication solves the omnichannel challenge

Syndication automates the distribution of your product content feed across all your marketplaces, channels, data pools, and wholesalers. But it goes beyond simply managing your product information. It takes the burden off the supplier. Learn more about product content syndication with our complete guide.

Commerce across the digital shelf

Benefits of syndication

Retailers and distributors want to give their customers unique shopping experiences. This puts the burden on your team to ensure a consistent product experience. With a syndication solution, you can activate the right content, enriched and optimized for each channel, from a single platform.

Gartner’s report on product syndication calls it a critical competency. Brands that fail to get it right today risk poor customer satisfaction and missed business opportunities. Leveraging the power of a PIM solution plus syndication ensures you can maximize scale and reach new marketplaces and channels quickly.

Without it, you might be limiting your revenue opportunities and losing your competitive advantage.

Want to learn more about syndication? Read about inriver Syndicate here.