Multi-channel retailers recognize the importance of accurate product content, but with tens of thousands of product pages added to their website every day by hundreds of different vendors, it’s nearly impossible to monitor all of it. On the flip side, brands are often juggling an overwhelming set of priorities, making it difficult for them to ensure each listing remains up-to-date.
The issue is that retailers and brands are often attempting to address the problem of poor product content by implementing single-point solutions. They may have analytics technology that provides insight into problems with product listings, but they don’t provide the tools to fix the content issues accordingly. On the other hand, some retailers and brands may have a content syndicator that does have the tools to manage and edit product content issues, but doesn’t show specifically which information needs updating and how to update it.
Retailers and the brands they work with need both analytics and product content management to provide customers the information they require to effectively research and purchase products online. Content Analytics is the first and only end-to-end eCommerce solution combining analytics, content management and reporting all in one platform, providing value for both retailers and their vendors.
Content Analytics for Retailers: VendorSCOR™
VendorSCOR™ is a tool that empowers retailers to keep their vendors accountable for the product content they place on their site. The first and only solution of its kind, VendorSCOR allows retailers to show their vendors what areas need immediate attention and editing, optimizing site quality and fostering holistic communication with their entire network of brands. For brands specifically, VendorSCOR helps them to ensure their pages align with both retailer and customer demands, boosting customer loyalty and conversion rates.
With VendorSCOR, retailers can send vendors scorecards on the quality of each of their products on a weekly basis, helping them ensure their content always meets the retailers’ standards and is best optimized for consumers. By using web data extraction, the tool crawls the site to identify gaps, errors and omissions in content, such as missing images, poor product descriptions, a lack of ratings and reviews, and other issues that impact traffic and conversion. The tool then helps vendors prioritize what to fix and provides actionable insights and steps for improving the content.
Once vendors understand the issues with their content and opportunities for improvement, VendorSCOR helps brands make updates accordingly. Content Analytics’ robust PIM/DAM tool allows brands to store and edit product content, but also see how they can best optimize each product for search. From there, brands can quickly syndicate their product content to all their retail channels in the appropriate format, ensuring consistency and accuracy across platforms.
By providing retailers with the tools they need to ensure their site has superb product content, VendorSCOR finally allows retailers and vendors work together to drive sales and deliver better customer experiences.
Target, one of the first major retailers to partner with Content Analytics on the VendorSCOR scorecards, will focus on using the tool to make improvements ahead of the 2017 holiday season. Retailers, like Target, are turning to VendorSCOR to help streamline the shopping experience for their internal stakeholders, their brands and, most importantly, their shoppers.
Combining both analytics and content management is the key to surviving and winning in today’s ultra-competitive retail landscape. If retailers don’t provide consumers the information they need to make a purchase, they’ll simply go to one that will. VendorSCOR not only monitors for a problem, but it also provides retailers and the brands they partner with the streamlined and user-friendly solutions to fix it together. Kenji Gjovig, VP of Partnerships and Business Development at Content Analytics
Content Analytics for Brands: First Mover Report Tool for Brands
Brands are well aware retailers adjust pricing with little notice, but without software intelligence to match the speed of the retailers’ algorithms, they’re unable to determine which online retailer moved the price first and how much it fluctuated.
Content Analytics’ First Mover Report monitors prices of identical products across multiple retailers’ sites in real-time, identifying and reporting how often retailers change their pricing and who moved first. As a seamless addition to existing MAP and MSRP pricing violation reports, First Mover Report helps brands identify and track margin improvement opportunities and ensure correct pricing across all online channels.
Brand Case Study: Mattel
Before partnering with Content Analytics, Mattel already had a strategic focus on omnichannel management, but didn’t have the tools to keep up with increasingly demanding consumer expectations for online experiences.
To improve sales and preserve brand equity online, Mattel turned to Content Analytics to develop a three-pronged omnichannel strategy for their eCommerce business, which included:
- Improving product content by optimizing titles and product descriptions, as well as adding search-optimized keywords, photos and videos
- Reducing out-of stock-rates by having real-time visibility into when products go out of stock
- Capitalizing on third-party sales channels by implementing reporting and analytics strategies to help understand how to maximize buy box opportunities
By addressing these three pain points, Content Analytics was able to improve Mattel’s brand experience and bottom line. Specific metrics included:
- Optimized the content of its top 545 SKUs, to the point at which they earned Content Analytics’ Content Health Score of 100% on every item
- Decreased out-of-stock rates by 62% between Nov-Dec 2016
- Improved in-stock rates for key drivers by 21%
- Created the “Mattel Shop,” a third-party sales channel to secure the buy box when Mattel was out of stock, thus preserving brand equity and control over the customer experience.
When you’re dealing with thousands of SKUs across multiple channels, having the right tools and data consolidated in one place helps us pinpoint exactly where to accelerate change. – Erika Zubriski, Vice President Sales, Mattel
Other brands and retailers using Content Analytics include Walmart, P&G, Samsung, Levi’s, L’Oreal and more.