Six tips for increasing efficiency in product data marketing

PRODUCT DATA MARKETING is more present than ever before. However, if you take a look at the planning of such campaigns, many retailers are still missing out on the potential in this area. Feed Dynamix has summarized the most important rules for efficient product data marketing. Successfully setting up and managing data feed campaigns on Google Shopping, Amazon, price search engines and product portals is a complex task. Not only do you need a clear objective and comprehensive knowledge of your own product range and its performance, you also need to determine the KPI values to be achieved in advance. Online stores should ask themselves questions such as "With which product, in which category, in which period, on which days of the week, via which portal, how much revenue was generated? And, did another product possibly provide the impetus for the store visit?".The solution provider and expert for data-based product marketing, Feed Dynamix, provides six tips below to help retailers get a handle on their product data campaigns:1. define clear goals for data feed campaignsThese should also be broken down into individual sub-goals. It is important not to define the objectives too generally, but to specify them clearly in terms of time, product range, and channel. Those responsible should therefore define what is to be achieved in which time with which product range and via which channel.2. overview of the existing marketing channelsThe store assortment should be matched with the offer of the respective portal and the product category(ies), at which portal should be advertised, should be determined. This reduces wastage and increases the quality of the traffic.3. know the assortmentAssuming a conversion rate of 1-3 percent and an average cost-per-click of 0.25 euros, this means an investment of 8.25 euros to 25.00 euros for a single sale. A clear picture of the margin and sales situation of the products is advantageous. Furthermore, the correlations between the individual articles should be observed. Seasonal effects must also always be kept in mind.4. knowledge about the stockTo increase campaign efficiency, it is worthwhile to analyze and evaluate individual product variants. If important core variants of a product are out of stock in the store, it is usually not worth advertising the product. Costs can be reduced by temporarily excluding the product from a campaign.5. build a good data foundationBefore campaigns can be managed according to performance indicators, a valid data basis is needed. For this purpose, the product range may have to be advertised on the selected portals for a period of four to six weeks and all traffic and performance data recorded.6. deal with detailsAll performance data should be collected and defined in order to create individual rules for each portal. The perspective should always be from the specific to the general - from the individual product to the product category - to ensure that no marketing opportunity is missed.The complete whitepaper on multidimensional control of data feed campaigns can be downloaded free of charge here:http://feed-dynamix.de/ressourcen/downloads/mehrdimensionale-kampagnensteuerung.html