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inRiver WWV
- 1. Perfect Product Information is the Key to Success in Micro-moments H e n r i k B é e n , V P P r o d u c t M a r k e t i n g
- 2. ©2016inRiver “Right now, people all over the world are trying to make the most of every moment. Are You There?”
- 3. ©2016inRiver T H E M E C H A N I C S O F L A S T M I L L I S E C O N D M A R K E T I N G CUSTOMER PROFILE Relevance & Behavioral data DELIVERY Unify and simplify x-channel and create experiences CONTENT Availability & Velocity • Listen – to the signals of what consumers are trying to tell us • Predict – based on these signals we have, predict the experience to deliver • Assemble - pull the optimal content together for a personalized experience • Deliver – provide the experience to the consumer in a context that makes sense
- 6. ©2016inRiver 1000 360 17 Founded in Sweden in 2007 Headquartered in Malmö iPMC supports 1000 brands and 360 customers across 17 countries 200 partners across EMEA and NA regions 600 certified on iPMC 70% Y2Y growth since 2011
- 8. ©2016inRiver Simply w or ld - c las s PIM inRiver Product Marketing Cloud
- 9. ©2016inRiver FASHION SPORTS MANUFACTURE & TOOLS AUTOMOTIVE & CYCLING FOOD RETAIL & PRODUCTION ELECTRONICS & EQUIPMENT FURNISHING & TEXTILE OFFICE SUPPLIES & WORK CLOTHES
- 10. ©2016inRiver Fast growing Dutch lingerie retailer 800 stores globally, mostly in Northern Europe Multi-channel strategy (stores, eCommerce, marketplaces,…) One home-grown system for everything – not future proof Needed to split the systems to manage growth Lot of manual checks in Excel New structure where inRiver holds the single version of truth Learning 1: Translations, region specific content Learning 2: Workflow/Completeness Future: inRiver for print
- 11. ©2016inRiver 11.000 employees, sales companies and distribution in more than 30 countries and 14 different brands Highly technical, internet connected, customizable, and configurable products However: “Too complex to do business with Oticon” PIM was the answer because of: − Growing inaccuracy in delivered products due to increased customization (new product releases) − High degree of customer service involvement inRiver implemented to provide great guidance when ordering – “a simplified, better customer experience” Organizational changes: process and roles Efficient enrichment, transparency
- 12. ©2016inRiver
- 13. ©2016inRiver C O N T E N T S PA G H E T T I
- 14. ©2016inRiver C R E AT I N G S I L O S M E A N S I N F O R M AT I O N I N C O N S I S T E N C Y
- 17. ©2016inRiver
- 18. ©2016inRiver i n R i v e r P r o d u c t M a r k e t i n g C l o u d Marketing Excellence Connectivity Usability Apps & Features Insights
- 19. ©2016inRiver PIM Benefits - Summary Five Absolute Musts for Successfully Taking Your Products to Market
- 20. ©2016inRiver S p e e d - t o - m a r k e t
- 21. ©2016inRiver C o l l a b o r a t i o n
- 22. ©2016inRiver I n s p i r i n g P r o d u c t S t o r i e s
- 23. ©2016inRiver P u b l i s h a n d S y n d i c a t e
- 24. ©2016inRiver R e f i n e P r o d u c t S t o r i e s
- 25. Thank you!
Hinweis der Redaktion
- the concept of PIM its place in the digital transformation and what it can do to help B2B and B2C companies maximize the value of products for customers. some of the concepts that we as a software developer are adopting to and why perfect product content is one of the keys to succeeding digital marketing of products.
- Accrding to Google, life is lived through micro-moments. This is where people like you and I suddenly have an urge to get inspired, to learn, get information, or even to buy something that will either help us or just to make us satisfied. These micro-moments dictate the way consumers act. It has dramatically fragmented the customer journey. What used to be a linear path of making a purchase is not anymore. Right now, people all over the world are trying to make the most of every moment. The question is – are you there to satisfy their needs?
- The Mechanics of Last Millisecond Marketing Last Millisecond Marketing comes down to this: as an event is triggered, either by clicking a link, logging into a site, entering a web page, loading an app, etc. And only milliseconds after the action has been made, the consumer has to get the right, personalized experience delivered. This is what product marketers are tasked with – creating and delivering great experiences in these last milliseconds. It is in these last milliseconds that it is decided whether you as a marketer succeed or fail in delivering converting content. Last Millisecond Marketing gives us the opportunity to be either heroes or just average. In order to get it right we need to execute on four key pillars: Listen – to the signals of what consumers are trying to tell us Predict – based on these signals we have to predict the experience to deliver Assemble – pull the content together Deliver – deliver that experience to the consumer in a context that makes sense To create the kinds of digital experiences that engage consumers and drive them to act, brands must deliver a personalized experience in that instance between an action and the next step in the consumer’s journey. You need to understand where your customers are spending their time, not only in physical locations, but in social, app stores, etc. Every interaction through any touchpoint is truly relevant. You need to think about when and how they try to interact with you, and in what way they try and want to do so. You need to think about every digital use case – from a PC, tablet, phone, car, store, etc. It is clear that you need to go to your customers, or they will not come to you. Today we as marketers have so much data at our disposal. We are not really asked to “do more, with less” but rather “do more, with more”. We need to “connect the dots” of all the data that we have at hand in order to deliver the most compelling offering, in the right moment, across exactly the right channel – where the consumer expects to find it. To deliver a quality, engaging, in-context experience in that last millisecond, marketers need to overcome not only technology barriers but also organizational ones. We do not need more tools. We just need to work better with what is available now. Getting access to the data that will deliver the information we need to build the right experiences can be a big challenge. We need to get to a point where as marketers, we’re able to access our data at any time, simply and easily. Where marketers can connect the dots to deliver in that last millisecond, is where the big results start to happen. As forward-looking companies engage every touchpoint, to deliver consumer experiences that make a real difference to the business. Three important stages to succeed in “Last Millisecond Marketing”: Customer Profiling Delivery Content
- Customers are looking for convenience when considering a purchase. Most prefer to search for products by using Google, Amazon or similar services instead of talking to one of your sales reps or walking into a store. Depending on industry, between 50-60% have researched their product purchase online before they even talk to you. The more precise the question is that we formulate in the search field, the better response we get, we believe. Or are we actually just getting the results from companies that have figured out SEO, search engine advertising, and the whole content marketing thing? Truth is, companies are spending billions of dollars on search engine ranking and advertising, indicating that it does have a huge impact. The amazing thing is that I have talked to many companies that are spending significant amounts of money on search ranking, but when you go to their website, it does not give you the expected experience. It could be everything from difficult navigation to insufficient product descriptions and product details, difficulty to search for products, hard to find accessories or spare parts, or lack of detailed images. So how come companies continue to spend their money on search ranking, and just accept that the majority of the spending is not doing any good? Search engine ranking is important, but imagine this: if you take some of the money you spend on search or advertising and use it for actually producing great product content and really letting your products tell their story, then your (potential) customers would not only find your products more easily, they will actually buy products from you.
- This presentation is about how PIM can help you be successful in these moments…
- Highlight any or several logos with a squared box as example shows. If you have any questions about the customers implementations of inRiver PIM, please contact Marketing.
- We often meet companies who are suffering from what we at inRiver refer to as “Content Spaghetti”. These are product selling vendors who just like anyone else has started out selling a select number of products, in their home market, through fairly traditional channels. They typically manage product information using home-grown systems or spread sheets. Files, images and documents end up on local drives, managed by several different people, which is hard to find and reuse as new projects needs to be undertaken. This way of doing PIM might work for some time but as the operations grows, so does the need for a structured way of managing your product information…
- Another scenario that we often see is that product information is handled for each channel respectively, hence creating silos of information which all need to be attended and synced. This not only created a lot of overhead in terms of double work, but is also a source to information inconsistencies across channels. This situation only accentuates as new channels are added. It is further complicated when products are sold in different markets and translations are required. This type of product information management structured in silos can easily be avoided by implementing a PIM which, among many things, provides a single source of content to every channel where high quality content is needed.
- At inRiver, we believe that PIM should provide a powerful, controlled, yet easy-to-use solution. With inRiver PIM, all this is achieved through a single platform, supporting four core stages of the PIM process: SUPPLY inRiver provides easy access to product data feed from external systems like ERP, PLM or any other third party system by using inRiver's open API. The inRiver SII (Secure Information Integration) ensures the integrity and validity of the data pushed into inRiver PIM. ENRICH This is the stage where great product stories are crafted. It enables marketing professionals to create, use and re-use product information across channels to achieve a consistent customer experience for all customers. PLAN & RELEASE With inRiver PIM, you can simply use your product information across any channel. The tools for plan and release allows you to customize, optimize and schedule your offering for specific channel requirements. PUBLISH inRiver allows you to connect and publish high quality product information to any sales channel. Once published, changes are easily made in a single place to be applied across all channels. Updates are applied automatically to ensure that the new information gets published fast.
- Op het scherm bij vragen/uitlopen
- Must nr 1: Speed-to-Market Today, customers have access to all your competitor’s stories at a click of a button and tap of a screen. Even when they’re standing in front of the shelf in store, they can be comparing prices and features on mobile. This means bringing products to market as fast as possible – and catching them in that purchasing micro-moment – is your competitive advantage. Using the right Product Information Management (PIM) tool increases speed to market from days or weeks to just a few hours, making products purchasable much faster. And the more opportunity of choice with relevant products you can offer customers a when they’re searching, the more revenue you generate and the more loyalty you build.
- Marketing Excellence a single point of access to SaaS PIM, increasing the productivity of product marketers, and shortens the time-to-market for all products Usability praised for its usability, fast to deploy and easy to learn and use, enabling product marketing in B2B and B2C organizations handle larger product assortments with higher quality Connectivity open architecture with extensive APIs, simplifying connectivity to third party systems Apps & Features native apps for anywhere, anytime access, enabling merchandizing of content to achieve a world-class customer experience in Micro-moments Insights actionable insights for a better understanding of what content triggers the best possible customer experience
- Theses couple of slides discuss the benefits of running PIM in the cloud. inRiver was first developed in 2007. This was a time when the cloud era was at its infancy and there were not many cloud or SaaS solutions at all. The technology was for early adopters and Salesforce.com was showing the way. Enterprise software was sold and deployed on-premises along with massive license agreements. Nowadays, the story is totally changed. Cloud and SaaS is omni-present. Traditional software vendors are struggling to make the shift to migrate their solutions to the cloud. There is a common notion that if you do not, quite soon you and your technology will become irrelevant. For inRiver, it has never been a question of if, but rather when this shift was going to happen. In fact, the decision was taken many years ago and since then there has been a gradual shift, starting with making sure that we were utilizing robust and proven technology that enabled taking a straight path to complete conversion when the time came. Quite early on, inRiver started to convert its business model when introducing subscription pricing as a complement to the perpetual license model. This also made it easier to make the full move towards the full SaaS offering – inRiver Product Marketing Cloud, that finally was launched in April 2017. Today, as we all know, there is only one way to buy and deploy inRiver – as SaaS in the Cloud. By making this move, we are well positioned for the future. We and our customers are backed by proven Azure Cloud technology and we can rest assured that most innovation will take place, providing a more capable, faster and more scalable inRiver Product Marketing Cloud in the years to come.
- Global Reach – inRiver Product Marketing Cloud is multi-tenant SaaS, deployed in the cloud, which means that it can be reached from any place, at any time, from any device. This means that iPMC offers a single point of access to all PIM functionality and administration, in a single cloud solution. Scalable – inRiver Product Marketing Cloud scales elastically, which means that you can start off small and gradually expand functionality and resources as required by the organization. inRiver will also self-adjust to usage spikes by automatically scaling whenever needed. Fast Deployment and Low Risk – Being a SaaS means that inRiver Product Marketing Cloud can be deployed really fast. Running PIM as SaaS also means that there are no up-front hardware investments so you don’t have to pay for unutilized capacity. Reliable and High Performing - inRiver Product Marketing Cloud runs on a massive, global cloud infrastructure which guarantees 99,999% availability. Running PIM as a service means elastic scaling of resources providing great performance. Secure and Proven Technology - inRiver Product Marketing Cloud runs on Microsoft Azure. With this proven, globally available cloud technology you are in the best of hands, supporting compliance, transparency, 365/24/7 monitoring and support, making sure that your PIM service never fails. Innovation – Analyst Gartner predicts that “By 2020, a corporate ‘no-cloud’ policy will be as rare as a ‘no-Internet’ policy is today.” Cloud is driving the digital transformation. Nowadays new technology is created and developed in the cloud hence, this is also where innovation is taking place. This is absolutely true for the PIM industry as well. As in all other tech areas, this puts pressure on tech vendors to adapt to cloud and if they do not, they will most likely end up being irrelevant. In short – cloud is here to stay, it is the future.
- Must nr 1: Speed-to-Market Today, customers have access to all your competitor’s stories at a click of a button and tap of a screen. Even when they’re standing in front of the shelf in store, they can be comparing prices and features on mobile. This means bringing products to market as fast as possible – and catching them in that purchasing micro-moment – is your competitive advantage. Using the right Product Information Management (PIM) tool increases speed to market from days or weeks to just a few hours, making products purchasable much faster. And the more opportunity of choice with relevant products you can offer customers a when they’re searching, the more revenue you generate and the more loyalty you build.
- Must nr 2: Collaboration As a Product Marketer, there’s pressure to do more of everything, from campaigns to releases. Thus, there’s an opportunity cost associated with not having control over your product information– time you spend on searching for the right information is time you’re not spending on sales and marketing. This means you need systems and processes that help teams collaborate more efficiently and free up resources to focus on adding value. The right system support means the same resources can do more in less time, they can be more creative rather than administrative. And it adds more value by creating richer product information. Forrester (The Integration Imperative Of Digital Experiences, Mark Grannan, September 2017) No common goals = no collaboration. Digital business requires a new culture, mentality, and organization. In order to serve the customer consistently well at any touchpoint, companies must change the way they operate by bridging silos, either top down with new roles like chief digital officers or bottom up by cross-pollinating teams. A digital leader at a national clothing retailer told Forrester her rationale for aligning goals: “Customers don’t care what part of the organization owns what or who gets credit for what. But if you don’t incentivize employees correctly, the customer will feel that pain.”
- Must nr 3: Inspiring Product Stories You will build your reputation for authority and knowledge when you promote enriched product information across channels and markets. Think about the number of touchpoints that involve product information. It’s not just about point of sale, catalogs and ecommerce – it’s about online retail portals, mobile marketing and social media updates. When you have a central source of enriched product information, you have a goldmine full of unique and flexible content that’s easy to optimize into stories for each channel and market. You go beyond the industry standard – for example, providing Amazon with basic information in certain fields – and stand out because you’re showing an in-depth understanding of your customers and how your product fits into their context. When you juggle large assortments, multiple channels and disparate geographies, information generally comes from many sources, from supplier portals and ERP systems to individual documents, spreadsheets and image files spread across different teams. This means it can take hours, days or even weeks to compile product information for a launch, and it’s easy to end up with inaccuracy and inconsistency. Having a central repository of product information, it becomes a single source of the truth. It saves a lot of time while helping you deliver a better customer experience. Würth is a prime example. They sell assembly and fastening materials for the trade and construction sectors. By moving to a central product information management system – which integrates with its enterprise and content management systems – new products can be live on the website and ready to order in just 2 hours.
- Must nr 4: Publish & Syndicate In a digital and distributed commerce age, the sales process is moving from the physical stores and traditional marketplaces to the Internet. The digital markets - where people go to seek information and shop for products - are available 24/7 in different forms and shapes. Some are small and niched. Others, like Amazon, are simply huge and omni-present. In this digital reality, the consumer oversees how, when, and where they purchase products. Thus, Product Marketers in the digital commerce era are urged to provide quality product information in a mix of attracting and converting channels. These channels can be eCommerce sites, marketplaces, printed catalogs, social media, or any other touch point where the consumers are seeking to educate themselves about the products they want to buy. To meet the increasing demand for product information, you need a system for helping you facilitate the process of getting the information published in a variety of sales channels. This process is often referred to as syndication. Syndication ensures that product content gets exported in the right format, at the right time, to the right place, and in an automated fashion.
- Must nr 5: Refine your product stories with inRiver insights Having a central product information management system makes it easy to bring products to market quickly, individually and in large volumes. The system is home to the agreed product story along with all the detail and imagery, tagged and categorized based on its place in the assortment. This means product marketers and marketing managers have a single source of the truth and don’t have to waste time compiling inaccurate, inconsistent information from disparate sources. They simply share information and export what they need. This means that you can also refine your product stories based on how consumers react to them and go from insight to action, or even enter a new market in weeks instead of months, new products can be live on a website and ready to be ordered in hours – and you can scale based on demand. Consortio Fashion Group sells well-known brands like Halens, Cellbes and Bubbleroom in over 10 European markets and through 31 e-commerce sites. The product information management system gives Consortio full control over all assortments, significantly reducing time to market and marketing production costs.