Recently CGT held its 2016 Business Technology Leadership Conference for Consumer Packaged Goods (CPG) companies. Leading up to the event, CGT Magazine sat down with EnterWorks CEO Rick Chavie. The interview delved into the importance of product information management (PIM) and the seven keys to creating consumable product content.
What is Consumable Product Content?
Firstly, why is the industry so focused on product content? In the recently released 2016 Tech Trends Report (now available for download), Gartner and CGT Magazine found that rapidly changing consumer behaviors are being fueled by an increased use of technology and expanding shopping options. Clearly it’s a digital and omnichannel world and consumer goods companies have to adapt. Therefore, aligning and updating product content is a critical step in this journey for all brands, across all channels.
So, what exactly is Consumable Content? In the interview, CGT asked Chavie to define the term. Chavie answers, “Delivering content is essential throughout a product’s lifecycle for generating awareness and conversions. Consumable content means delivering rich, personalized content in the context of: shopping stage…consumer shopping occasion…and consumer’s preferences.”
However, Chavie also notes, “Not all content must be personalized on a 1:1 basis to be consumable, as creating appeal across like-minded consumers can be more efficient.”
What are the 7 Keys to Creating Consumable Product Content?
Chavie’s seven keys to consumable product content range from Industry Relevant and Compliant Content, to Multi-Domain Master Data Management (MDM), Findability and Digital Asset Management (DAM). Read the article and view the full list here.
However, Chavie notes that the basis for the full content journey begins with a powerful PIM platform. This is the start of brand and product differentiation. The “seven keys” then use the PIM base to generate the right content consumers need.
Who Owns the Effort?
Recently, Brian Solis penned an article for Forbes, Who Owns Digital Transformation? According To A New Survey, It’s Not The CIO. In it, Solis shares recent survey results that reveal 34% of digital transformation ownership lies with the CMO, with the CIO/CTO following at 19%. This is a startling yet definitive shift.
Indeed, Marketing is playing a powerful role in leading digital transformation and technology investments that help companies drive the customer experience.
Yet most experts agree all functions should play a part. Furthermore, companies that unite around a common front stand to press ahead of the pack.
As Chavie surmises in CGT, “Every department plays a role: Marketing in understanding the B2B partner’s content needs and insights into a consumer’s preferences, category managers in defining assortment and category attributes, visual merchants and e-commerce leads in ensuring that content is compelling, data analysts and scientists in assessing content effectiveness, the CIO in determining how the platform pieces fit together, and the list goes on. But ultimately, the CEO or president of the brand must support the initiative to drive its effectiveness as an organization.”
Contact us to learn how EnterWorks’ PIM and MDM platform helps drive sales and margin growth with compelling, differentiated experiences through a single view of content with suppliers, partners, customers, and marketplaces.