How Can We Capture Value in Cataloging?

June 22, 2022
Guides
Team Streamoid

Why is product cataloging so significant? What value does it add to sales? Is the time and investment in creating detailed product catalogs worth it? These are common questions that brands ask.  

Cataloging has evolved over the years with an increasing focus on functionality. From print catalogs with cluttered information, we now have digital cataloging of products that you see on web pages, designed to provide all necessary information and better product visualization without the clutter.

Digital product cataloging leverages the latest in technology including cloud computing, AI, ML, automation, computer vision, and analytics, among others to ensure positive digital experiences.  

Effective digital cataloging reduces the complexity of product data management, and increases the accuracy of data and sales itself. In this article, we help you understand how online cataloging generates value and in what ways it helps drive a competitive edge for brands.  

This Is How Cataloging Generates Value Across the Customer Journey

Pre-Sales Processes  

Reduced Cataloging Complexity
For a digital catalog, it is critical that the taxonomy is strong and clearly defined. Once the team understands the definitions from the brands’ point of view, it leads to consistent, high-quality data that brings all necessary product information into one cohesive, easily updatable document. If the taxonomy is comprehensive, it is possible to quickly adapt catalogs to the templates and specifications of different sales channels and platforms. It is also possible to curate the catalog feed for different use cases within the company,

Whether you are e-mailing the catalog or publishing it on your website or posting it on a third-party platform, customers can view all the information (including technical information, features, specifications, style notes in case of fashion and fashion accessories, etc.) in a clear and engaging manner.

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Accelerated Speed to Market
The use of technology massively accelerates the speed to market as it takes only a fraction of the time and cost to list new products. With an automated cataloging solution, the time and resources needed to write detailed product titles and descriptions, craft engaging copy, and intelligently tag products is just a few hours or a couple of days as compared to the manual effort that takes weeks. Faster speed to market means more time to sell the products at their full prices and faster rotation of inventory.

Consistent Product Information
Technology-enabled cataloging, while infusing versatility into the process, also enables brands to ensure that the product information across multiple touchpoints is complete, accurate, and consistent. This is imperative because inaccurate product information, grammatical/spelling errors, and so on erode brand credibility and customer trust.  

Reaching Wider Audience and Empowering Omnichannel
Online marketplaces make it hassle-free and simple to reach wider audiences. The pain point however is that each of these marketplaces needs the feed in a particular manner. With the right cataloging solution, you need to catalog just once. After that, you can convert the feed to the different specifications and taxonomies of different eCommerce platforms and sales channels such as Groupon, Amazon, eBay, and Facebook. So, with just a few clicks you can list on 10’s or even 100’s of channels.

Good cataloging solutions also enable you to translate catalogs to different languages to reach global audiences.  

Improved Branding
Product catalogs serve as an instrumental tool in branding. You can develop a distinct tonality and voice for your brand and reflect it across all your sales channels, right from your own website/app to third-party platforms, marketplaces, social media platforms and so on. This way, you can break through the cluttered marketplace and establish a connection with the customer while improving the brand recall value.  

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Optimizing Search and Discovery

Enhance User Experience
Powered by self-learning AI, analytics, and cloud computing, digitized catalogs help craft frictionless and meaningful user experiences. With Vogue-style product descriptions and high-quality images, users get a better visualization of the product. In the case of fashion products, you can add style notes to offer even better visualization to the customer, increasing the likelihood of conversion.  

Deep, smart tagging for relevant attributes helps users effortlessly navigate through and search for whatever they are looking for in a fraction of the time and effort. You can further optimize the product catalog based on buyer personas and targeted segments of users.  

Greater Lead Generation
Cataloging enables you to generate greater leads by improving the searchability and discoverability of your products. With technology-powered cataloging, you can effortlessly add SEO-optimized product titles, SEO keywords, alt tags for images, etc. Updating in-demand keywords quickly, optimizing images, and so on.  

This way, you can gain organic traction to your website/product listing in marketplaces and improve brand awareness. More importantly, with tech-enabled online catalogs, you gain actionable, real-time insights on clicks, conversion, engagement, etc. This way, you can improve your marketing and sales efforts, catalog usability, and even streamline your inventory. Overall, you make massive gains in lead generation.  

Image Credit: HubSpot

Boosting Online Sales and Revenues  

More Time to Sell
Most times cataloging starts after the sample is made. With products getting manufactured in 2-3 weeks delays in cataloging means money tied up in stocks sitting in the warehouses. The faster you list the faster you start selling.  

Additionally, you can reduce the time and resources necessary to train your salespeople, retailers, distribution partners, etc. As the all required information is now at their fingertips.  

Reduced loss of sales from no visibility to inventory
By integrating their catalog with their inventory management and warehouse management solutions, salespeople have real-time visibility into stock availability. So, they can share the same with customers, especially B2B partners, retailers and distribution partners, seamlessly.  

Higher Conversion Rate |
Well-crafted product catalogs remain in the user’s memory despite the clutter of the marketplace. So, they are more likely to respond to your CTA.  

When your product description is succinct, relevant, and engaging complete with the latest, in-demand keywords, relevant tags, and effective images, and covers all the questions a customer may have, your customer can better visualize the product and you are more likely to convert more leads quickly.  

If the catalog images are of high quality, consistent and engaging it leads to a definite increase in sales. Just adding shadows to flat backgrounds to make it more realistic has shown to positively impact sales.

When combined with intelligent search and recommendation engines, you can boost upselling and cross-selling. Further, when you place compelling CTAs, such as Order Now, Buy Now, and Add to Cart buttons next to the product descriptions, it effectively reduces lead times and boosts conversions.  

Control Over Channel Pricing
Effective cataloging enables you to take control over channel pricing in the multichannel landscape. When catalog management solutions are integrated with dynamic pricing engines and CRMs, you can test, monitor and optimize continuously across sales channels to boost sales.

Offline Sales and Customer Journey

Generate Sales Offline
Even before a customer goes to your brick-and-mortar store, customers spend lots of time and effort researching products, reading up reviews and have almost made up their mind on what they want to buy. When the online product catalog answers all their questions and is accessible across devices and multiple online touchpoints, you increase the chances of improving offline sales.

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Analytics and Future Planning to Optimize Overall Business Outcomes

Boost Customer Retention
Well-crafted and well-managed product catalogs are powerful. Such product catalogs are comprehensive, engaging and compelling. They aren’t generic or plagiarized pieces of content. They are continuously updated and optimized to match up with the latest preferences, trends and changing customer behavior. With such products, it is nearly impossible to place wrong product orders or out-of-stock products. Overall, they help brands not only attract customers but convert and retain them in the long run.  

Smooth Flow of Information
Technology-enabled cataloging helps brands to ensure that there is a frictionless flow of updated product information between internal and external stakeholders, thus breaking down departmental silos. This way, you can reduce business cycles.  

Powerful Insights for Data-Driven Decisions and Strategies
By analyzing different metrics and insights from product catalogs, enable management teams to make data-driven decisions to improve business outcomes.  

Optimized Business Growth
Online catalogs have usability across functions and processes, from marketing and sales to customer support, analytics and so on. These can be shared seamlessly with customers, business partners and employees alike.  

While helping sales teams find new opportunities for sales and boost sales, they also help marketing teams to gain the best ROI on campaigns. When customer support teams are equipped with comprehensive product catalogs, they can better resolve customer queries and support requests.

How To Use Technology to Generate Digital Catalogs?
The best way to use technology in cataloging is through intelligent cataloging/ catalog management solutions. Choose a solution that has the following features.  

  • Self-learning AI that helps in automatically generating accurate product information including SEO-optimized titles, engaging product descriptions, deep tagging on all relevant attributes, alt tags, etc.  
  • Uses computer vision to analyze product images to generate product content and tags  
  • Uses NLP and ML to generate effective and engaging product content in natural language
  • Minimal human intervention in product cataloging and tagging
  • Includes quality checking and testing to maintain the highest possible levels of accuracy
  • Offers deep insights into the product catalog and KPIs such as conversions, clicks, etc.  

Catalogix from Streamoid is one such solution for fashion brands, retailers and other fashion users. It helps fashion retailers seamlessly generate cohesive, detailed, and engaging product catalogs for their fashion products including bags and accessories. You can effectively expand your reach, improve product searchability and boost overall business outcomes with Catalogix.  

The Way Forward
Even though cataloging products can be challenging, its importance cannot be stressed enough. Leverage advanced product cataloging solutions like Catalogix to drive extraordinary business value.  

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How Can We Capture Value in Cataloging?

How Can We Capture Value in Cataloging?

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