Partnering with NetPlus Alliance to Solve the Product Content Exchange Problem

This past week I attended the NetPlus Alliance Annual Meeting. The NetPlus buying group consists of hundreds of suppliers and distributors in the industrial MRO and construction sectors united by a single goal: to find innovative ways to move their businesses forward, drive revenues, and reduce costs.

As a first time attendee, the most striking thing I immediately noticed was the level of comradery and passion that NetPlus Alliance members share for their industry. There is an amazing and sincere respect among the members.

NetPlus Alliance members are savvy professionals who understand that the world of commerce continues to pick up speed and shows no sign of slowing down. Without exception, they understand that they are both chasing market leaders like Amazon and figuring out how to work with them. There are no longer clear lines between master distributor, distributor, and manufacturer. Instead, channel strategies are more like a tangled ball of yarn.

The Paradox of Choice in Digital Commerce

The challenge so many members face is what psychologist Barry Schwartz famously called “the paradox of choice”. Faced with too many options, people are now less inclined to take action, whether it’s buying a jar of jam or investing in a new technology. In the case of our industry, the paradox of choice touches many areas: digital commerce, supply chain, product selection, and many more. NetPlus Members, like all of us, are working through the challenge of a market moving at light speed and the array of options proliferating at a torrid pace.

Solving the Product Content Exchange Problem

At Codifyd, we are partnering with NetPlus Alliance to provide an answer to this paradox of choice: sharing product content with channel partners. How do hundreds of suppliers and distributors effectively exchange product content so that the buyer always has the right selection and complete information to make a quick and easy purchase decision?

By working together, NetPlus Alliance members can now exchange highly customized product content via the Codifyd Bridge AI platform. The platform fully automates the syndication of product content, while being flexible enough to adapt to the fast-moving demands of the market. With the NetPlus Alliance Connect program, members get to enjoy efficient content sharing, while their customers receive relevant information at all points of the buying journey.

We are honored to be part of the NetPlus Alliance family, and to play our part in helping members move their business forward.

We would love to help you solve your product content problems. Visit our solutions pages, and contact us today for a consultation.

 

Optimizing the Digital Shelf for E-Commerce Success

Your digital product is your lifeline. Without it, prepare to go the way of many sellers who over-invested in the notion that digital adoption was only a facet of their business and not the defining element of company success.

To put this in context, as of June 2017, a staggering 5,300 retail stores have announced they will be closing their doors, even though apparel sales are expected to rise in 2017, with e-commerce accounting for 17% of revenue. It may seem harsh but this is the Now. Very soon 3-D printing, virtual and augmented reality, smart sensors and AI will be tools that businesses regularly harness to engage clients in a unit-level, customized product journey.

So where does digital product content & information fit into this story?

Product content is the core element that enables you to develop your digital presence and prepare to harness the technological disruption that is breaking dawn on the horizon of B2B.

From the days of print catalog to the information you choose to display through your e-commerce platform, and even to your back-end investments in technology (ERP, DAM, MDM, PIM), the persistent element that remains is the data that creates a digital representation of your physical product and drives customer experience.

B2B buyers demand expert content at all points in the buying journey

This attention to product data robustness, customized product user experiences and aligned business objectives that enable digital transformation are even more important in B2B.

The more complex the product, the greater the focus must be on the way you translate your product expertise into digital form and engage customers with expert-level content.

Where once great consideration went into ensuring your brick and mortar locations portrayed your product knowledge and displayed items in an orderly and categorized fashion, it is now time to prioritize the transformation of your organization in preparation of the digital era.

Optimizing the digital shelf with product data

In the end, it is the intersection of your product with customer data that is the driving force behind digital transformation.  In practice, it is in mobilizing product data to effectively interact with users, supported by technologies that enable this process.

As Amazon has shown, your physical product is no longer the first element of ensuring client conversion – it is now final. That’s it. Because by the time the product arrives at their doorstep, the customer has already developed the necessary trust and conducted the requisite research to identify and purchase it.

Your Digital Shelf is the new storefront: open 24/7 and accessible on the go through mobile technology. But does it cater to your customers’ needs and provide them a direct feed of product expertise?

The Industrial Distributor of the Future

In 2012, Amazon launched Amazonsupply.com and Google followed with the Google Shopping for Suppliers (now Google Shopping) e-commerce site to address the way modern B2B buyers purchased products.

However, the success of an e-commerce website is completely dependent on the quality of the product content. A product Master Data Management (MDM) strategy includes centralized, normalized, optimized, and enriched product content that is easy to find, intuitive and descriptive in order to enable the buyer to quickly make a purchasing decision.

Watch Codifyd webinar

This educational webcast discusses:

> How companies that successfully complete product MDM initiatives are achieving a significant competitive advantage over their peers.
> How MDM initiatives can drive a global customer experience that helps companies compete with the AmazonSupplys and best target the habits of millennial buyers.
> Common mistakes for product content management, often traced back to a “technology-first” approach versus a “product content-first” strategy.