On the internet, the data is the product. Unlike in reality, where the customer can touch and examine products in order to compare them, in the online virtual world he must depend 100% on the product data (including images or videos). The basis of his decision is the product data available. No data - no comparison - no decision. No purchase. End of story. One more visit that adds to the unhappy balance of 97% non-purchasers. Preparing the data correctly and presenting it in the right structure is, then, a foundation for high conversion rates.
The ROI of good product information is probably much higher in reality than if we “just” take into account the savings made on the processing and handling of investment data. In online shops product data plays an important
role in the purchase decision – and the positive result of this decision is ultimately one which we can measure as
conversion rates. No figure correlates higher with the marginal income of an online shop – not to mention the
satisfaction of eliciting the simplest of decisions from the customer.
Learn more in chapter 5 of the best of breed whitepaper series PIM 360. I would especially like to thank Mr. André Morys, CEO of Web Arts.
Having complete and accurate data is key. Obtaining quality data from suppliers is becoming a big objective of retailers as well as search engines. "No data - no Comparison - no decision ..." I totally agree!
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