How important is catalog quality in e-commerce?
Lead nurturing is one of the most important aspects of E-commerce. A lot of retail brands so far have been investing their focus on lead acquisition investing in various sources via paid or organic means to lead potential customers to their landing pages. It is imperative for brands to pay attention to nurturing the lead until a conversion takes place. Here is when catalog quality plays an important role.
Catalog quality impacts the customer journey
A vital part of the process involves the catalog present on the e-commerce website. A weak catalog can cost customers and lose potential leads. The customer journey from the time they land on the website, to the final checkout depends heavily on the catalog quality of the website, as it guides the customer through each step of the sales process. It is important that the customer does not leave at any stage of the conversion funnel. From the product list page to the payment page - lead nurturing can happen by an improved catalog quality.
Some of the things to keep in mind - products must be properly classified on the landing page, product attributes must be well defined and images must be well represented. Furthermore, the information provided on the product page should be clear and unambiguous.
Content matters for catalog optimization
Catalog monitoring helps in tracking the catalog health ensuring product classification, data completeness, avoiding duplication and identifying errors in product information. Catalog optimization can help personalize a customer’s journey through the conversion funnel. This can be done by customizing product titles as per the customer’s search keywords as well as their descriptions, replacing missing titles and descriptions, enriching product information, and tags.
Catalogs are the focal point when a customer is making a buying decision. They take into consideration all the available details while choosing a product. If there is any discrepancy in the details, such as a missing feature can cost a potential lead, as the customer may abandon his journey.
Moreover, maintaining consistent catalog health can help improve conversion rates, by not missing out on qualified leads. Around 70% leads coming through any channel may not be all qualified leads, in spite of the credibility of its sources. Companies who invest in nurturing their leads can see a 450% increase in qualified leads and a 50% increase in sales.
Ultimately, a strong catalog quality can define a customer's experience on your site. This is what can impact a customer's revisit to your website. Building a good catalog helps towards building a strong relationship with a customer.
With CatalogIQ, we can help your e-commerce or retail business by strengthening your content using AI and machine learning.
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