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©2018 Ntara, Inc. All contents proprietary and confidential.
THE SEVEN DEADLY
DIGITAL SINS
of Manufacturers & Distributors
Presented by:
Andy Didyk | Ntara VP of Sales & Marketing
Johan Boström | inRiver Co-Founder & Evangelist
©2018 Ntara, Inc. All contents proprietary and confidential.
Agenda
THE SEVEN DEADLY DIGITAL SINS OF MANUFACTURERS & DISTRIBUTORS
Welcome and housekeeping
Introductions
Presentation
Q&A session
©2018 Ntara, Inc. All contents proprietary and confidential.
Housekeeping
THE SEVEN DEADLY DIGITAL SINS OF MANUFACTURERS & DISTRIBUTORS
• All participants are muted
• You may ask questions using the Q&A Panel
o All questions will be addressed at the end of the presentation
o If time is too short to address your questions, you will receive a response via email
• Today’s webinar will be recorded
o For our live attendees, the webinar recording will be provided 1-2 days after the webinar
o The recording will also be made available on www.inRiver.com
• If you are experiencing technical complications, please use the Q&A panel to
communicate
©2018 Ntara, Inc. All contents proprietary and confidential.
So…what are we selling?
KNOWLEDGE:
Understanding your digital ecosystem is important.
sells software.
sells services.
Today is a success if we provide real value to you.
4
INTRODUCTIONS
©2018 Ntara, Inc. All contents proprietary and confidential.
Who is this guy?
INTRODUCTIONS
Andy Didyk
VP of Sales & Marketing
Ntara
B2B and B2C e-commerce SME
Digital strategist
New business and account services
©2018 Ntara, Inc. All contents proprietary and confidential.
About Ntara
INTRODUCTIONS
• Founded in 1999
• Headquartered in Johnson City, TN with offices
in Nashville, Asheville, Charlotte, and Atlanta
• Specialized in three verticals:
• Branded Manufacturing & Distribution
• Healthcare & Institutions
• Technology companies
• We also provide strategic digital consulting,
design and user experience, e-commerce and
web development.
Digital consulting Web design and UX Accessibility web design
E-commerce web
design
Integrated marketing services Technical consulting and
solutions
©2018 Ntara, Inc. All contents proprietary and confidential.
Who is this guy?
INTRODUCTIONS
Johan Boström
Co-Founder & Evangelist
inRiver
Product information & workflow SME
Enterprise software strategist
Senior international business leader
©2018 Ntara, Inc. All contents proprietary and confidential.
About inRiver
PRESENTATION OVERVIEW
• Founded in Sweden in 2007
• Headquartered in Malmö, Sweden
with offices in Chicago,
Amsterdam, London, Stockholm
• Growing at 70% YOY since 2011
• 500+ customers and 1000 brands
in 21 countries
• 200+ partners, 800+ certified
individuals
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 9
THE SEVEN DEADLY DIGITAL SINS
©2018 Ntara, Inc. All contents proprietary and confidential.
What is sin?
THE SEVEN DEADLY DIGITAL SINS
sin
/sin/
noun
an immoral act considered to be a transgression against divine law.
a.k.a., “not good for business”
©2018 Ntara, Inc. All contents proprietary and confidential.
What is sin?
THE SEVEN DEADLY DIGITAL SINS
Sin is destructive
resulting in…
Eternal separation
from a deity, peers, and the
community
Death
Today, deadly digital sins
wreak havoc on
companies like yours.
So, what can you do to avoid them?
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 12
Overconfidence
Having more confidence in your sales team than
your digital assets
©2018 Ntara, Inc. All contents proprietary and confidential.
You have a good sales team, but is that good enough?
OVERCONFIDENCE
88% of B2B sales reps believe servicing accounts
above and beyond customer expectations is the surest
way to grow.
However, almost 70% of B2B customers don’t trust
that the companies they do business with understand
their needs.
B2B buyers consult multiple digital channels and
seek advice from colleagues, all before engaging with a
sales rep.
Customers then return to digital channels and
colleagues to validate a supplier’s claims.
15% of the customer purchase process is spent on the
deconfliction of information
©2018 Ntara, Inc. All contents proprietary and confidential.
The modern buyer—Understand your customer and their needs.
OVERCONFIDENCE
2
18
2 1
49
29
22
31
34
20
34
50
7
1995 2015 Est. 2020
Gen Z
Millennials
Gen X
Baby Boomers
Silent Generation
Greatest Generation
In two short years, 50% of workers will be considered “millennials.”
©2018 Ntara, Inc. All contents proprietary and confidential.
Customer journeys are unique—meet prospects where they are.
OVERCONFIDENCE
Learn about the different solutions
available for solving the problem
Learn about shortlist of specific
suppliers
Learn about specific supplier
solutions
Compare different solutions
Learn about pricing
Consult references from supplier’s
current clients
Identify need-to-know (critically
useful) information regarding
potential solutions
Early Middle Late
Buying Journey
Supplier Website
Search
Industry Expert Blog/Website
Supplier Website
Industry Expert Blog/Website
Supplier Website
Supplier Website
Search
Supplier Website
Search
Supplier Website
Supplier Website
83% of surveyed B2B buyers accessed digital channels even in the late
purchasing stages. Product information content is essential everywhere.
©2018 Ntara, Inc. All contents proprietary and confidential.
How to save yourself from OVERCONFIDENCE
OVERCONFIDENCE
Website and content need to incorporate three critical elements to better help
customers to engage:
Give customers an entry point on their own terms and evaluate your
website’s ability to support and influence digital customer tasks across
the buying journey.
Share solutions by using customer language in your
website’s architecture, content assets, and tagging.
Engage Sales for your marketing copy and materials – help your users
to convert!
1
2
3
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 17
Vanity
Forcing your staff to build everything in-house vs.
outsourcing
©2018 Ntara, Inc. All contents proprietary and confidential.
80% of companies
are increasing their digital marketing budgets to
hire talent to meet this growing need.1
To combat these barriers, over half of B2B marketing teams outsource
at least some of their workloads to agencies.2
Curating the digital dream team is a priority. Skills matter.
VANITY
Top in-house hiring barriers are:
Finding skilled talent Cost of quality staff Attracting & retaining top
talent
Culture fit
Source1: 80% of Companies Increase Digital Marketing Budgets
Source2: How to Gauge a Marketing Company’s Legitimacy
©2018 Ntara, Inc. All contents proprietary and confidential. 19©2018 Ntara, Inc. All contents proprietary and confidential. 19
What’s the real deal?
VANITY
Unnecessary customization
Project time lags
A team of generalists
Technology as a quick fix
“Set it and leave it” mentality
In-house capabilities Partnering with external experts
Access to experts in specific fields
Have fresh ideas are ready to innovate
Can start immediately
Learn from other company’s mistakes
Exposure to various industries
©2018 Ntara, Inc. All contents proprietary and confidential.
How to save yourself from VANITY
VANITY
You want to make sure your project is a success, so you look to the experts. We
recommend that you fully qualify your external partner by:
Understanding their resources, skills, & knowledge
How much fire power can they arm you with? Is the agency’s skillset is as deep and varied as you
need it to be? Do they talk in specifics or generalizations?
Gauging their experience
Are the professional and credible? Do they have case studies or success stories? Do they have good
client references?
Finding a solution consultant
Will they listen to your challenges? Can our teams mesh and get along? Will they tailor solutions you?
Ensuring transparency
Are the expectations they’re setting realistic? How will they measure performance? How will they
communicate with you?
1
2
3
4
Source: How to Gauge a Marketing Company’s Legitimacy
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 21
Fear
Ignoring omnichannel opportunities
©2018 Ntara, Inc. All contents proprietary and confidential. 22©2018 Ntara, Inc. All contents proprietary and confidential. 22
Multichannel
All channels are available to the consumer…
but not themselves integrated.
Omnichannel
All channels are available to the consumer…
and are connected.
What is omnichannel?
FEAR
Store Web Mobile Social Phone
©2018 Ntara, Inc. All contents proprietary and confidential.
Are you ready for modern times?
FEAR
The modern customer is already the omnichannel customer.
©2018 Ntara, Inc. All contents proprietary and confidential.
You need to be omnichannel. Now.
FEAR
Omnichannel customers
are more valuable.
On average, omnichannel
customers spend
+4% in-store
and
+10% online
than single-channel
customers.
©2018 Ntara, Inc. All contents proprietary and confidential.
How to save yourself from FEAR
FEAR
Map out opportunities where your marketing, products, and sales teams can work
together to create a comprehensive digital and traditional marketing and sales strategy.
Start by:
Integrating your sales channels
Integrating your sales channels also gives you better visibility of stock movement.
Treating the customer as one entity for all channels
Track your customer’s journey across multiple channels to understand buying behavior.
Determining pricing strategy across channels
When the same product is available for different prices from various sellers, people are likely to
choose the cheapest alternative.
Keeping your brand voice consistent
Your brand should be the center of the experience.
1
2
3
4
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 26
Apathy
Lack of control of your digital brand
©2018 Ntara, Inc. All contents proprietary and confidential.
Daily distractions lead to brand blunders
APATHY
We all know that savvy shoppers scour the
Internet for the lowest price.
Equally savvy manufacturers use product
information management (PIM) to
ensure product content, pricing, images
and SKUs are accurate across channels.
Without a clearly defined strategy,
brands risk losing market share or devalued
via undisciplined distribution of their
product information.
©2018 Ntara, Inc. All contents proprietary and confidential.
Go digital…or risk alienation.
APATHY
Traditional offline brands generally sell in three ways:
Through independent
distributors, licensees,
& sales reps
Directly to retailers Directly to consumers
through stores
By using this traditional approach, your company is alienating
your brand from expanding to new channels and selling to
previously untapped audiences.
©2018 Ntara, Inc. All contents proprietary and confidential.
The battle of the babies
APATHY
Pampers wipes Amazon brand wipes
©2018 Ntara, Inc. All contents proprietary and confidential.
How to save yourself from APATHY.
APATHY
Prioritizing accurate product data is key to establishing your brand across every digital
channel. Once your data is optimized, you’ll be able to focus on value-add
opportunities.
1
2
Understand how your data impacts your brand.
Inaccurate product data could mean a differing marketing message. How will prospects know what
to believe?
Keep it consistent.
Make sure product content and information is the same across each and every channel. If not,
trust is broken and shoppers leave. And they may never come back.
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 31
Indifference
Lack of product data standardization
©2018 Ntara, Inc. All contents proprietary and confidential.
Lack of PIM standards causes problems
INDIFFERENCE
Without PIM standards, product sales and marketing is
incomplete, inaccurate, inefficient, or out of date.
WRONG PRICE
OLD
PRODUCT IMAGE
MISSING DESCRIPTION
©2018 Ntara, Inc. All contents proprietary and confidential.
Situation today: Product data fragmentation
INDIFFERENCE
Size
Weight
SKU
Model
Brand
Color
Series
Original
product data
Tribal knowledge Other departments
Other data sources
Media libraries
Company’s
product data
©2018 Ntara, Inc. All contents proprietary and confidential.
Product data fragmentation at most companies
PRODUCT INFORMATION MANAGEMENT
Excel (marketing)
Excel (product data
team)
AS400 ERP
Excel (design team)
Retail or specialty
Unique distributors
Wholesalers
Media
libraries
©2018 Ntara, Inc. All contents proprietary and confidential. 35©2018 Ntara, Inc. All contents proprietary and confidential. 35
Product Information Exchange Standard
(PIES)
PIES standardizes field definitions and requirements as well
as delivery mechanism used to transfer product specific data
such as pricing, interchanges, kits, digital assets, marketing
content, hazmat, product attributes, etc., between all
members of the supply chain.
Aftermarket Catalog Exchange Standard
(ACES)
The use of the ACES standard reduces number of formats
needed to communicate product information removing
duplicative efforts to communicate and distribute data in
various formats. More efficient product communication gets
products to market faster.
Prioritizing data quality in the automotive industry
INDIFFERENCE
©2018 Ntara, Inc. All contents proprietary and confidential.
HIDA is making moves toward standardized PIM
INDIFFERENCE
By utilizing PIM standards, data and images transmit seamlessly,
electronically, and consistently between manufacturers and distributors,
supporting channel partnerships and go-to-market strategies.
PIM
Pricing
Images Description
Mobile
Point of sale
Catalog
Mobile
e-Store
Core 23 & 93
Standards
agreed upon by
medical
PIM Workgroup
©2018 Ntara, Inc. All contents proprietary and confidential.
How to save yourself from INDIFFERENCE
INDIFFERENCE
You know inaccurate product information is a problem. What’s to stop you from
working with your industry’s governing body to put together minimum requirements?
Collaborate with other companies about the issues within your industry.
If you’re more informed, you know exactly what can be changed to
make progress.
Find an industry organization that you believe can help to advocate for
change. By pulling together like minded individuals, big things can
happen.
1
2
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 38
Laziness
If you aren’t providing value, someone else will.
©2018 Ntara, Inc. All contents proprietary and confidential.
Provide value, or be left behind
LAZINESS
Disintermediation
Manufacturer Distributor Salesperson Retail Call Center Customer
Online
81% of buyers research online before buying.
Consumers consider manufacturers to be the most trustworthy source of
information about product specs, MSRP, and product options.
©2018 Ntara, Inc. All contents proprietary and confidential.
Is personalization too personal?
LAZINESS
91% of customers
are more likely to shop
with brands that
recognize, remember and provide
them with relevant offers and
recommendations.
73% of customers
say that no retailer
or service provider
has ever communicated
with them in a way that felt
too personalized.
48% of customers
have said they have
left a business’s website
and made a purchase elsewhere
because the experience
was poorly curated.
Consumers want increased levels of personalization.
In fact, consumers are willing to share their data and
rarely feel that companies get too personal.
©2018 Ntara, Inc. All contents proprietary and confidential.
Target’s pregnancy predictor
LAZINESS
It all leads
back to the
Guest ID.
Distance
to store
Mobile ID
Mobile
coupons
Predictive
models
Lists and
registries
In-store
purchase
Coupon
redemption
Name, address,
& tender
Online
purchase
Email
clickthrough
Guest ID
Pregnancy test
Baby soap
Cocoa butter lotion
Baby registry
©2018 Ntara, Inc. All contents proprietary and confidential.
Grainger’s B2B personalization strategy
LAZINESS
It all leads
back to the
Buyer ID.
Buyer
level
Corporate
contracts
Mobile
coupons
Predictive
models
Lists and
groups
In-store
purchases
Promo
redemption
Name, address,
& LOB
Online
purchase
Email
clickthrough
Buyer ID
Industry-specific offerings
Finance /
fulfillment
data
A/B Testing
©2018 Ntara, Inc. All contents proprietary and confidential.
How to free yourself from LAZINESS
LAZINESS
Get data, data, and more data
Collect relevant data for more personalized content and targeted ads.
Generate customer personas
Segment your audience based on a range of demographic factors, shopping habits, incentives
they respond to, and what information they need to make a decision.
Map out your content strategy
Understand what makes each customer persona unique and customize your content based on
what makes them convert.
Create a pilot
Plain and simple. Start small to win big.
Personalize the whole experience
Don’t simply focus on one element of the customer experience—personalize all customer
touchpoints based on buyer personas.
1
2
3
4
5
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 44
Negligence
Bad product data management
©2018 Ntara, Inc. All contents proprietary and confidential.
Buyer disruption
INDIFFERENCE
87% of buyers said they would be unlikely to repeat a purchase
with a vendor who provided inaccurate product information.
40% of buyers have returned an online purchase because of
inaccurate product content.
30% have abandoned an online shopping cart due to poor product
descriptions.
Source: Shot Farm
©2018 Ntara, Inc. All contents proprietary and confidential.
Where product information matters
NEGLIGENCE
Product information needs to be consistent and
accurate across all touch points.
Online consumers purchase only after extensive
research about product:
• Ratings and reviews
• Ingredients
• Images from different angles
• Product sourcing details
• Videos
• Product bundles
Conflicting messages or product misinformation
causes a poor CX, and lost sales.
Over 80%
of companies are
not confident
in their
product data.
©2018 Ntara, Inc. All contents proprietary and confidential. 47©2018 Ntara, Inc. All contents proprietary and confidential. 47
Bad data management is detrimental to your business
NEGLIGENCE
Managing multiple excel sheets
Unable to group similar products to sell
Using custom code or scripts
Slow, continuous data clean up
Incorrect information across channels
Bad product data issues lead to:
Cannot customize pricing by sales channel
Nearly 30%
of the item data
in catalogs used by
retailers and manufacturers
is incorrect.
©2018 Ntara, Inc. All contents proprietary and confidential.
How to save yourself from product data NEGLIGENCE
NEGLIGENCE
Centralizing your data with a product information management platform.
Utilizing advanced data transformation capabilities to transform your messy data into
rich, usable product information.
Using bulk editing and automation workflows. Establish workflows that automatically do
routine changes for you upon import and in different languages.
Running data validation processes before publishing by developing error notifications
when data is wrong or incomplete.
1
2
3
4
Manufacturers and distributors must ensure content is consistent and accurate across every touchpoint
that features their products. Get started by:
©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 49
KEY TAKEAWAYS
©2018 Ntara, Inc. All contents proprietary and confidential.
Free your company from all seven sins
KEY TAKEAWAYS
Overconfidence
You have a great sales team, but
they need digital support.
Vanity
Looking for external expert help
is not a weakness—it can
actually lead you to success.
Fear
Omnichannel is now. Your
customers are waiting.
Apathy
Maintaining consistent product
data is important—and creates
value-add opportunities.
Indifference
Standards create efficiencies,
lower costs, and make industry
stakeholders happier.
Laziness
Personalization can connect
your brand to your customers.
And that’s what they’re craving.
Negligence
Incorrect data can cost you…in
more ways than one.
1
2
3
4
5
6
7
©2018 Ntara, Inc. All contents proprietary and confidential.
THANK YOU
(and you’re welcome for saving you from the 7 deadly sins)

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The Seven Deadly Digital Sins of Manufacturers and Distributors

  • 1. ©2018 Ntara, Inc. All contents proprietary and confidential. THE SEVEN DEADLY DIGITAL SINS of Manufacturers & Distributors Presented by: Andy Didyk | Ntara VP of Sales & Marketing Johan Boström | inRiver Co-Founder & Evangelist
  • 2. ©2018 Ntara, Inc. All contents proprietary and confidential. Agenda THE SEVEN DEADLY DIGITAL SINS OF MANUFACTURERS & DISTRIBUTORS Welcome and housekeeping Introductions Presentation Q&A session
  • 3. ©2018 Ntara, Inc. All contents proprietary and confidential. Housekeeping THE SEVEN DEADLY DIGITAL SINS OF MANUFACTURERS & DISTRIBUTORS • All participants are muted • You may ask questions using the Q&A Panel o All questions will be addressed at the end of the presentation o If time is too short to address your questions, you will receive a response via email • Today’s webinar will be recorded o For our live attendees, the webinar recording will be provided 1-2 days after the webinar o The recording will also be made available on www.inRiver.com • If you are experiencing technical complications, please use the Q&A panel to communicate
  • 4. ©2018 Ntara, Inc. All contents proprietary and confidential. So…what are we selling? KNOWLEDGE: Understanding your digital ecosystem is important. sells software. sells services. Today is a success if we provide real value to you. 4 INTRODUCTIONS
  • 5. ©2018 Ntara, Inc. All contents proprietary and confidential. Who is this guy? INTRODUCTIONS Andy Didyk VP of Sales & Marketing Ntara B2B and B2C e-commerce SME Digital strategist New business and account services
  • 6. ©2018 Ntara, Inc. All contents proprietary and confidential. About Ntara INTRODUCTIONS • Founded in 1999 • Headquartered in Johnson City, TN with offices in Nashville, Asheville, Charlotte, and Atlanta • Specialized in three verticals: • Branded Manufacturing & Distribution • Healthcare & Institutions • Technology companies • We also provide strategic digital consulting, design and user experience, e-commerce and web development. Digital consulting Web design and UX Accessibility web design E-commerce web design Integrated marketing services Technical consulting and solutions
  • 7. ©2018 Ntara, Inc. All contents proprietary and confidential. Who is this guy? INTRODUCTIONS Johan Boström Co-Founder & Evangelist inRiver Product information & workflow SME Enterprise software strategist Senior international business leader
  • 8. ©2018 Ntara, Inc. All contents proprietary and confidential. About inRiver PRESENTATION OVERVIEW • Founded in Sweden in 2007 • Headquartered in Malmö, Sweden with offices in Chicago, Amsterdam, London, Stockholm • Growing at 70% YOY since 2011 • 500+ customers and 1000 brands in 21 countries • 200+ partners, 800+ certified individuals
  • 9. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 9 THE SEVEN DEADLY DIGITAL SINS
  • 10. ©2018 Ntara, Inc. All contents proprietary and confidential. What is sin? THE SEVEN DEADLY DIGITAL SINS sin /sin/ noun an immoral act considered to be a transgression against divine law. a.k.a., “not good for business”
  • 11. ©2018 Ntara, Inc. All contents proprietary and confidential. What is sin? THE SEVEN DEADLY DIGITAL SINS Sin is destructive resulting in… Eternal separation from a deity, peers, and the community Death Today, deadly digital sins wreak havoc on companies like yours. So, what can you do to avoid them?
  • 12. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 12 Overconfidence Having more confidence in your sales team than your digital assets
  • 13. ©2018 Ntara, Inc. All contents proprietary and confidential. You have a good sales team, but is that good enough? OVERCONFIDENCE 88% of B2B sales reps believe servicing accounts above and beyond customer expectations is the surest way to grow. However, almost 70% of B2B customers don’t trust that the companies they do business with understand their needs. B2B buyers consult multiple digital channels and seek advice from colleagues, all before engaging with a sales rep. Customers then return to digital channels and colleagues to validate a supplier’s claims. 15% of the customer purchase process is spent on the deconfliction of information
  • 14. ©2018 Ntara, Inc. All contents proprietary and confidential. The modern buyer—Understand your customer and their needs. OVERCONFIDENCE 2 18 2 1 49 29 22 31 34 20 34 50 7 1995 2015 Est. 2020 Gen Z Millennials Gen X Baby Boomers Silent Generation Greatest Generation In two short years, 50% of workers will be considered “millennials.”
  • 15. ©2018 Ntara, Inc. All contents proprietary and confidential. Customer journeys are unique—meet prospects where they are. OVERCONFIDENCE Learn about the different solutions available for solving the problem Learn about shortlist of specific suppliers Learn about specific supplier solutions Compare different solutions Learn about pricing Consult references from supplier’s current clients Identify need-to-know (critically useful) information regarding potential solutions Early Middle Late Buying Journey Supplier Website Search Industry Expert Blog/Website Supplier Website Industry Expert Blog/Website Supplier Website Supplier Website Search Supplier Website Search Supplier Website Supplier Website 83% of surveyed B2B buyers accessed digital channels even in the late purchasing stages. Product information content is essential everywhere.
  • 16. ©2018 Ntara, Inc. All contents proprietary and confidential. How to save yourself from OVERCONFIDENCE OVERCONFIDENCE Website and content need to incorporate three critical elements to better help customers to engage: Give customers an entry point on their own terms and evaluate your website’s ability to support and influence digital customer tasks across the buying journey. Share solutions by using customer language in your website’s architecture, content assets, and tagging. Engage Sales for your marketing copy and materials – help your users to convert! 1 2 3
  • 17. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 17 Vanity Forcing your staff to build everything in-house vs. outsourcing
  • 18. ©2018 Ntara, Inc. All contents proprietary and confidential. 80% of companies are increasing their digital marketing budgets to hire talent to meet this growing need.1 To combat these barriers, over half of B2B marketing teams outsource at least some of their workloads to agencies.2 Curating the digital dream team is a priority. Skills matter. VANITY Top in-house hiring barriers are: Finding skilled talent Cost of quality staff Attracting & retaining top talent Culture fit Source1: 80% of Companies Increase Digital Marketing Budgets Source2: How to Gauge a Marketing Company’s Legitimacy
  • 19. ©2018 Ntara, Inc. All contents proprietary and confidential. 19©2018 Ntara, Inc. All contents proprietary and confidential. 19 What’s the real deal? VANITY Unnecessary customization Project time lags A team of generalists Technology as a quick fix “Set it and leave it” mentality In-house capabilities Partnering with external experts Access to experts in specific fields Have fresh ideas are ready to innovate Can start immediately Learn from other company’s mistakes Exposure to various industries
  • 20. ©2018 Ntara, Inc. All contents proprietary and confidential. How to save yourself from VANITY VANITY You want to make sure your project is a success, so you look to the experts. We recommend that you fully qualify your external partner by: Understanding their resources, skills, & knowledge How much fire power can they arm you with? Is the agency’s skillset is as deep and varied as you need it to be? Do they talk in specifics or generalizations? Gauging their experience Are the professional and credible? Do they have case studies or success stories? Do they have good client references? Finding a solution consultant Will they listen to your challenges? Can our teams mesh and get along? Will they tailor solutions you? Ensuring transparency Are the expectations they’re setting realistic? How will they measure performance? How will they communicate with you? 1 2 3 4 Source: How to Gauge a Marketing Company’s Legitimacy
  • 21. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 21 Fear Ignoring omnichannel opportunities
  • 22. ©2018 Ntara, Inc. All contents proprietary and confidential. 22©2018 Ntara, Inc. All contents proprietary and confidential. 22 Multichannel All channels are available to the consumer… but not themselves integrated. Omnichannel All channels are available to the consumer… and are connected. What is omnichannel? FEAR Store Web Mobile Social Phone
  • 23. ©2018 Ntara, Inc. All contents proprietary and confidential. Are you ready for modern times? FEAR The modern customer is already the omnichannel customer.
  • 24. ©2018 Ntara, Inc. All contents proprietary and confidential. You need to be omnichannel. Now. FEAR Omnichannel customers are more valuable. On average, omnichannel customers spend +4% in-store and +10% online than single-channel customers.
  • 25. ©2018 Ntara, Inc. All contents proprietary and confidential. How to save yourself from FEAR FEAR Map out opportunities where your marketing, products, and sales teams can work together to create a comprehensive digital and traditional marketing and sales strategy. Start by: Integrating your sales channels Integrating your sales channels also gives you better visibility of stock movement. Treating the customer as one entity for all channels Track your customer’s journey across multiple channels to understand buying behavior. Determining pricing strategy across channels When the same product is available for different prices from various sellers, people are likely to choose the cheapest alternative. Keeping your brand voice consistent Your brand should be the center of the experience. 1 2 3 4
  • 26. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 26 Apathy Lack of control of your digital brand
  • 27. ©2018 Ntara, Inc. All contents proprietary and confidential. Daily distractions lead to brand blunders APATHY We all know that savvy shoppers scour the Internet for the lowest price. Equally savvy manufacturers use product information management (PIM) to ensure product content, pricing, images and SKUs are accurate across channels. Without a clearly defined strategy, brands risk losing market share or devalued via undisciplined distribution of their product information.
  • 28. ©2018 Ntara, Inc. All contents proprietary and confidential. Go digital…or risk alienation. APATHY Traditional offline brands generally sell in three ways: Through independent distributors, licensees, & sales reps Directly to retailers Directly to consumers through stores By using this traditional approach, your company is alienating your brand from expanding to new channels and selling to previously untapped audiences.
  • 29. ©2018 Ntara, Inc. All contents proprietary and confidential. The battle of the babies APATHY Pampers wipes Amazon brand wipes
  • 30. ©2018 Ntara, Inc. All contents proprietary and confidential. How to save yourself from APATHY. APATHY Prioritizing accurate product data is key to establishing your brand across every digital channel. Once your data is optimized, you’ll be able to focus on value-add opportunities. 1 2 Understand how your data impacts your brand. Inaccurate product data could mean a differing marketing message. How will prospects know what to believe? Keep it consistent. Make sure product content and information is the same across each and every channel. If not, trust is broken and shoppers leave. And they may never come back.
  • 31. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 31 Indifference Lack of product data standardization
  • 32. ©2018 Ntara, Inc. All contents proprietary and confidential. Lack of PIM standards causes problems INDIFFERENCE Without PIM standards, product sales and marketing is incomplete, inaccurate, inefficient, or out of date. WRONG PRICE OLD PRODUCT IMAGE MISSING DESCRIPTION
  • 33. ©2018 Ntara, Inc. All contents proprietary and confidential. Situation today: Product data fragmentation INDIFFERENCE Size Weight SKU Model Brand Color Series Original product data Tribal knowledge Other departments Other data sources Media libraries Company’s product data
  • 34. ©2018 Ntara, Inc. All contents proprietary and confidential. Product data fragmentation at most companies PRODUCT INFORMATION MANAGEMENT Excel (marketing) Excel (product data team) AS400 ERP Excel (design team) Retail or specialty Unique distributors Wholesalers Media libraries
  • 35. ©2018 Ntara, Inc. All contents proprietary and confidential. 35©2018 Ntara, Inc. All contents proprietary and confidential. 35 Product Information Exchange Standard (PIES) PIES standardizes field definitions and requirements as well as delivery mechanism used to transfer product specific data such as pricing, interchanges, kits, digital assets, marketing content, hazmat, product attributes, etc., between all members of the supply chain. Aftermarket Catalog Exchange Standard (ACES) The use of the ACES standard reduces number of formats needed to communicate product information removing duplicative efforts to communicate and distribute data in various formats. More efficient product communication gets products to market faster. Prioritizing data quality in the automotive industry INDIFFERENCE
  • 36. ©2018 Ntara, Inc. All contents proprietary and confidential. HIDA is making moves toward standardized PIM INDIFFERENCE By utilizing PIM standards, data and images transmit seamlessly, electronically, and consistently between manufacturers and distributors, supporting channel partnerships and go-to-market strategies. PIM Pricing Images Description Mobile Point of sale Catalog Mobile e-Store Core 23 & 93 Standards agreed upon by medical PIM Workgroup
  • 37. ©2018 Ntara, Inc. All contents proprietary and confidential. How to save yourself from INDIFFERENCE INDIFFERENCE You know inaccurate product information is a problem. What’s to stop you from working with your industry’s governing body to put together minimum requirements? Collaborate with other companies about the issues within your industry. If you’re more informed, you know exactly what can be changed to make progress. Find an industry organization that you believe can help to advocate for change. By pulling together like minded individuals, big things can happen. 1 2
  • 38. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 38 Laziness If you aren’t providing value, someone else will.
  • 39. ©2018 Ntara, Inc. All contents proprietary and confidential. Provide value, or be left behind LAZINESS Disintermediation Manufacturer Distributor Salesperson Retail Call Center Customer Online 81% of buyers research online before buying. Consumers consider manufacturers to be the most trustworthy source of information about product specs, MSRP, and product options.
  • 40. ©2018 Ntara, Inc. All contents proprietary and confidential. Is personalization too personal? LAZINESS 91% of customers are more likely to shop with brands that recognize, remember and provide them with relevant offers and recommendations. 73% of customers say that no retailer or service provider has ever communicated with them in a way that felt too personalized. 48% of customers have said they have left a business’s website and made a purchase elsewhere because the experience was poorly curated. Consumers want increased levels of personalization. In fact, consumers are willing to share their data and rarely feel that companies get too personal.
  • 41. ©2018 Ntara, Inc. All contents proprietary and confidential. Target’s pregnancy predictor LAZINESS It all leads back to the Guest ID. Distance to store Mobile ID Mobile coupons Predictive models Lists and registries In-store purchase Coupon redemption Name, address, & tender Online purchase Email clickthrough Guest ID Pregnancy test Baby soap Cocoa butter lotion Baby registry
  • 42. ©2018 Ntara, Inc. All contents proprietary and confidential. Grainger’s B2B personalization strategy LAZINESS It all leads back to the Buyer ID. Buyer level Corporate contracts Mobile coupons Predictive models Lists and groups In-store purchases Promo redemption Name, address, & LOB Online purchase Email clickthrough Buyer ID Industry-specific offerings Finance / fulfillment data A/B Testing
  • 43. ©2018 Ntara, Inc. All contents proprietary and confidential. How to free yourself from LAZINESS LAZINESS Get data, data, and more data Collect relevant data for more personalized content and targeted ads. Generate customer personas Segment your audience based on a range of demographic factors, shopping habits, incentives they respond to, and what information they need to make a decision. Map out your content strategy Understand what makes each customer persona unique and customize your content based on what makes them convert. Create a pilot Plain and simple. Start small to win big. Personalize the whole experience Don’t simply focus on one element of the customer experience—personalize all customer touchpoints based on buyer personas. 1 2 3 4 5
  • 44. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 44 Negligence Bad product data management
  • 45. ©2018 Ntara, Inc. All contents proprietary and confidential. Buyer disruption INDIFFERENCE 87% of buyers said they would be unlikely to repeat a purchase with a vendor who provided inaccurate product information. 40% of buyers have returned an online purchase because of inaccurate product content. 30% have abandoned an online shopping cart due to poor product descriptions. Source: Shot Farm
  • 46. ©2018 Ntara, Inc. All contents proprietary and confidential. Where product information matters NEGLIGENCE Product information needs to be consistent and accurate across all touch points. Online consumers purchase only after extensive research about product: • Ratings and reviews • Ingredients • Images from different angles • Product sourcing details • Videos • Product bundles Conflicting messages or product misinformation causes a poor CX, and lost sales. Over 80% of companies are not confident in their product data.
  • 47. ©2018 Ntara, Inc. All contents proprietary and confidential. 47©2018 Ntara, Inc. All contents proprietary and confidential. 47 Bad data management is detrimental to your business NEGLIGENCE Managing multiple excel sheets Unable to group similar products to sell Using custom code or scripts Slow, continuous data clean up Incorrect information across channels Bad product data issues lead to: Cannot customize pricing by sales channel Nearly 30% of the item data in catalogs used by retailers and manufacturers is incorrect.
  • 48. ©2018 Ntara, Inc. All contents proprietary and confidential. How to save yourself from product data NEGLIGENCE NEGLIGENCE Centralizing your data with a product information management platform. Utilizing advanced data transformation capabilities to transform your messy data into rich, usable product information. Using bulk editing and automation workflows. Establish workflows that automatically do routine changes for you upon import and in different languages. Running data validation processes before publishing by developing error notifications when data is wrong or incomplete. 1 2 3 4 Manufacturers and distributors must ensure content is consistent and accurate across every touchpoint that features their products. Get started by:
  • 49. ©2018 Ntara, Inc. All contents proprietary and confidential.©2018 Ntara, Inc. All contents proprietary and confidential. 49 KEY TAKEAWAYS
  • 50. ©2018 Ntara, Inc. All contents proprietary and confidential. Free your company from all seven sins KEY TAKEAWAYS Overconfidence You have a great sales team, but they need digital support. Vanity Looking for external expert help is not a weakness—it can actually lead you to success. Fear Omnichannel is now. Your customers are waiting. Apathy Maintaining consistent product data is important—and creates value-add opportunities. Indifference Standards create efficiencies, lower costs, and make industry stakeholders happier. Laziness Personalization can connect your brand to your customers. And that’s what they’re craving. Negligence Incorrect data can cost you…in more ways than one. 1 2 3 4 5 6 7
  • 51. ©2018 Ntara, Inc. All contents proprietary and confidential. THANK YOU (and you’re welcome for saving you from the 7 deadly sins)

Editor's Notes

  1. All organizations manage product information management. As a society when we say PIM, we say software. It's still a little muddy. Make the point that organizations are managing their product information, they're just doing it badly. PIM Software is answer to all these questions. But we don't want to say you need PIM software. When we talk about Product Information management as a function in an organization v. PIM as a tool to help you do it better, spell it out and make sure we're very clear. The rest of the lunch & learn isn’t about Ntara and inRiver; it’s about the manufacturing industry and how PIM can be transformative for your business. You’ll know when to call us and the reasons to work with us. Today is successful if you can take something back to your organization that you didn’t already know.
  2. https://www.gotquestions.org/consequences-of-sin.html Each year, the Athenian citizens who were eligible to vote would determine who would be ostracized that year for up to 10 years. Greek mythology – Furies – snakes for hair, dole out punishment for sin
  3. https://www.gartner.com/smarterwithgartner/what-sales-should-know-about-modern-b2b-buyers/ http://www.customerexperienceinsight.com/b2b-relationships-lack-trust-loyalty-3-ways-to-rebuild-now/ Talking points: According to the CEB, now Gartner, 2017 Account Growth Diagnostic, Making a large purchase can take much longer than in the past, despite increased access to information. “With more information, options and people involved in a buying process, buyers are paralyzed when trying to move forward,” says Brent Adamson, principal executive advisor at Gartner. Increased access to information — from product reviews to pricing comparisons — has left many buyers feeling overwhelmed. “In recent research, we found 15% of the customer purchase process is spent on the deconfliction of information,” says Adamson.
  4. Digital selling: reinventing sales to stay relevant to changing B2B buyers
  5. Visual Source: CEB 2017 Digital B2B Buyer Survey Stat source: https://www.gartner.com/smarterwithgartner/what-sales-should-know-about-modern-b2b-buyers/ Talking points: A digital marketing strategy should be specifically designed to help buyers through the early, middle and late stages of the purchase process. Digital and one-on-one interactions are parallel experiences that support the buyer journey. “Just because in-person begins doesn’t mean online ends,” says Adamson. Customers rely heavily on company websites to help them accomplish specific buying tasks.
  6. Subtitle would be how they’re committing the sin
  7. http://adage.com/article/digital/80-companies-increase-digital-marketing-budgets/296814/ Https://marketingland.com/house-marketing-better-using-agency-197215 Talking points: Turnover is an issue in this field—it’s a candidate’s market and people are hopping around to find the best jobs. There is a Turnover is typically higher at larger companies, whereas agencies typically experience less turnover due to the variety of work their companies offer.
  8. https://www.forbes.com/sites/forbesagencycouncil/2017/07/20/the-pros-and-cons-of-in-house-and-outsourced-tech-teams/#305b8f3a77f8 Talking points: In house: Expectation of customization from customers. Unnecessary levels of customization to block upgrade path. What are you experts in? Do you want to build IT team that are experts in web development and application support and PIM in all these platforms/languages? There are people who specialize in this. If you customize everything and it’s not tied to governance or upgrade path, you’re going to get behind. Customizing software for existing business and technical requirements. Need to address core issues instead of what needs to be fixed. Outsourcing: can learn from others’ mistakes in a way you can’t. They are exposed to other customers in the same industry, and different ones.
  9. Retail example – talk to someone about product, get sold on it, go to retail, it’s not there.
  10. https://www.facelet.com/en-us/blog/why-you-need-an-omnichannel-strategy-for-your-retail-business/ Back to ancient romans – Jupiter, God of thunder And not just in the context of retail. Some time ago people could eat pizza only in pizzerias, now it’s no problem to order it in few taps via a mobile app. One single tweet with a pizza emoji can order a pizza. They’ve even created shoes that order pizza (pie tops! - $450 on ebay). Yes, it’s retail, and yes, it’s pizza, but that’s the point! If we can do this for something as inconsequential as pizza, why do we think this service wouldn’t be appreciated for spare parts in the field, lifesaving medications, or critical IT infrastructure projects?
  11. https://squareup.com/townsquare/why-you-need-to-go-omnichannel-now Andy to send presentation from Hunter with stats on omnichannel How much more valuable are omnichannel customers? Talking points: Customers research online and buy in-store Customers love ecosystems with omnichannel touchpoints With every additional channel they use, shoppers spend more money in the store. For example, customers who use 4+ channels spend 9% more in the store, on average, when compared to those who used just one channel.
  12. Rising tide raises all ships: distributors-don’t be afraid of manufacturers going direct. https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2018/03/28/going-omnichannel-how-to-get-started/#34b599fd5355
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  14. https://insight.kellogg.northwestern.edu/article/when-retail-prices-cross-the-line All Brands Need A Full-Fledged Digital Commerce Strategy
  15. All Brands Need A Full-Fledged Digital Commerce Strategy With this model – someone else is responsible for representing your brand, and brands. Still. Matter.
  16. Pampers brand is ENOUGH. But Amazon can help mine product reviews and across other brands and Amazon’s brand of wipes is killing Pampers. Amazon beats Pampers in search results for the keywords “pampers baby wipes” with Amazon branded products displaying in search results first.
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  18. Everybody wants something special. Every distributor is clamoring for a differentiator. What’s to stop you from working with your industry’s governing body to put together minimum requirements?
  19. HIDA’s core 23 attributes were developed by HIDA’s PIM workgroup of medical-surgical device manufacturers and distributors, are vital for e-commerce collaboration between trading partners.
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  21. People go to manufacturers first for product information. They trust them more than anyone else.
  22. Talking points: And, rather than being wary of surrendering their data,
  23. https://blog.hubspot.com/marketing/marketing-personalization-examples Every Target customer is assigned a Guest ID number after the very first interaction with the brand. That ID is used to store the customer’s demographic information, ranging from ethnicity to job history, and to track buying behavior. And by doing the latter, specifically with those who had baby registries with the store, Target’s marketing analysts were able to form a “pregnancy prediction” score, which allowed them to determine which purchasing patterns indicated a customer was in the early expectant stages. It was a game changer. “Once consumers’ shopping habits are ingrained,” Duhigg writes, “it’s incredibly difficult to change them.” That is, until, a major life event takes place, like finding out that a baby is one the way. That’s when routines are forced to change. Suddenly, there’s a deadline, and people start to buy products that they never previously considered, like “cocoa-butter lotion” and “a purse large enough to double as a diaper bag,” the article says. Those are the behaviors that trigger Target’s pregnancy prediction score, prompting the customer to receive special deals on baby-related items.
  24. https://theblog.adobe.com/optimization-personalization-b2b-powerhouse-grainger/
  25. https://www.wordstream.com/blog/ws/2017/02/06/personalized-marketing
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  27. inRiver Whitepaper All Brands Need A Full Fledged eCommerce Strategy Whitepaper https://ecommerceandb2b.com/struggling-bad-product-data/
  28. https://www.nchannel.com/blog/product-information-management-clients-product-data/ http://www.enterworks.com/pim/roi-killers-absence-pim/
  29. https://www.nchannel.com/blog/product-information-management-clients-product-data/