Better Data Sells More Products Faster: MDM – Product 360 & Google Shopping
Google is the go-to for search. Will Google also become the go-to for shopping?
Christian Santiago, Strategic Partner Development Lead, Google; Niaz Ahmed, Partner Technology Manager, Google; and Nagesh Kanumury, Director Product Management, Informatica recently spoke at Informatica World in San Francisco about how Google is helping brands convert new customers by improving the shopping experience for its users, partners, retailers, and manufacturers.
Christian observed, with the rise of pocket-based supercomputers (commonly known as smartphones), people no longer go online, we live online. Within the shopping context, this is represented by a 30% increase in mobile product and shopping searches on Google between May 2015 and May 2016. With so much information and computing power at our fingertips regardless of where we are, we expect seamless, personalized experiences that deliver immediate answers. And when it comes to shopping, we also expect complete product information.
Converting browsers into buyers happens across a series of very brief customer experiences, defined by Google as micro-moments. Christian went on to explain that micro-moments come in many different forms and are related to how customers think about products, brands, or stores. This includes: I need ideas moments, I need inspiration moments, I need information moments, which one’s best moments and I want to buy moments.
With the shopping experience fragmented across hundreds of these micro-moments, the imperative for retailers and manufacturers is to represent their products to customers in the best light possible – at any point during the purchase journey. This requires providing rich content about products that aligns to customer needs and intent. In doing so, customers get a seamless, personalized experience supported by the information they need to make their purchase decisions; while retailers and brands get higher conversions.
Results from a recent Google study demonstrated an increase of up to a 25% in conversions, confirmed Niaz. He emphasized that the results weren’t absolute increases, but had been adjusted for any expected seasonality impact. Niaz attributed the increase to more complete, robust data about the products. With complete and accurate data elements – including title, description, variant information, high resolution images, and videos – queries could be better connected to products during these micro-moments, enriching the customer experience.
But managing and improving product information is no easy chore; particularly when there are many variables or SKUs. Product data is rife with missing fields, contains inaccuracies, or is incomplete. Christian commented, “Fundamentally, there is a belief at Google that these great consumer experiences can only be delivered if there is really good data.” To ensure data from its partners includes authoritative, detailed, accurate product information Google has teamed with Informatica.
Nagesh explained how Informatica MDM – Product 360 is integrated with Google Merchant Center and Google Manufacturer Center. Retailers and manufacturers can submit to Google feature, description, variant, and media-rich product information that convert buyers across Google’s ecosystem, including Google Shopping, Google Images, and YouTube. Nagesh went on to describe how MDM- Product 360 streamlines the validation and approval processes for product information to be displayed faster in search results.
If you missed the Informatica World presentation, or want to learn more about how Informatica MDM-Product 360 is fueling better ecommerce conversions, you’re in luck. Google and Informatica hosted a webinar on June 29th to talk through the details of the solution. Kevin Dean, ecommerce manager and Murdoch’s Ranch & Home Supply, joined the webinar to discuss how the solution is helping Murdoch’s improve its customer experience. Listen to the replay here.
For additional information about MDM-Product 360, I recommend:
Related blog: Help Brands Find and Convert New Customers with Google Manufacturer Center and Informatica MDM – Product 360
Web Page: Product 360 (PIM) – Acquire, manage, and publish accurate product information to all channels.