For three active years in the market of systems for product data management and building proper workflow for half a million product items, Brandquad has confirmed that automating this business segment by means of PIM-systems and their built-in analytical modules helps to improve a number of important KPI. Among them convertion.
The PIM system stores the data used in the product card. Typically, it includes a small description of the product, a few category-specific attributes, and photos. During the transfer of information from an old system to a new one – a PIM-system – it often turns out that even basic product data is missing. One of our clients found out that on some online platforms it was selling items that only had the name “Boots” and the price of several thousand dollars. Of course, no one bought such a product without any description.
The bare minimum of information will, of course, not provide an “attractive” purchase conversion. You need to know what to describe and how to do it. For example, we found out that adding 5-8 photos to a product registration card can increase conversion by an average of 8,5%. Additional photos most adversely affect the sales of jewelry and accessories, and least – the distribution of books, food, and sports goods.
“Interior” photos – earrings in the ear, a sofa in the living room, a TV on the wall, etc. – can add another 5-7% to the conversion. This technique is especially effective for furniture and jewelry.
Adding a product video increases the probability of purchase by one third, and for furniture and bijou jewelry – by 135%. It’s necessary to start your own YouTube channel, upload a few high-quality videos about your company and the product and then broadcast them in the product ID card using a video service widget. (We highly recommend that you use a widget instead of links so that people didn’t have to leave your website). Video reviews and recommendations from bloggers also do their job.
“Lazy” video reviews – video cards of your products – can increase conversion by 200%. Motion video is a 20-40 second video clip composed of visual and textual product data.
Depending on the platform and product category, you are going to use different information. A PIM system will help you avoid unnecessary complications: you can easily track whether, for example, your jewelry has “interior” photos, and expensive products have their videos.