Your eCommerce platform, and online marketplaces always require updates, and at times, it can be an extremely time-consuming (and manual) process. It can definitely be an overwhelming experience!
Fortunately, there are ways to greatly reduce the manual processes, and Feedonomics is a great solution to do just that.
I put together some background information on the platform, how it boosts sales, and ultimately, how to identify if the platform is a good strategic decision for your business.
Let’s dive in!
What is Feedonomics?
Feedonomics is a data feed management tool that simplifies and streamlines the process of listing your products on various platforms and marketplaces. Feedonomics creates a centralized data hub, and integrates seamlessly with your existing eCommerce platform, PIM system, or ERP software. This allows you to pull product data from a single source, eliminating the need to manually enter information in each individual sales channel.
Once your product data is centralized, Feedonomics helps you create a master product feed tailored to the specific requirements of each sales channel. This feed includes all the essential information like product titles, descriptions, images, pricing, and inventory levels. Whether it is on Google Shopping, Amazon, or any marketplace, the product data will be set to that platform’s best practices.
With your product information constantly changing, Feedonomics sets up automatic updates to ensure your product listings across all channels reflect the most up-to-date information. This eliminates the risk of outdated information leading to frustrated customers and lost sales if products are out of stock.
How Feedonomics boosts sales:
We’ve established how Feedonomics simplifies data management, but one of the biggest benefits lies in its ability to boost your online sales. Previously, I mentioned that Feedonomics helps optimize your product data so it meets the specific requirements of each platform.
By doing this, this leads to better digital ad placement, and also cuts back on product disapprovals and account suspension warnings. These are all common reasons that business owners miss out on sales, or users leave their marketplace (or store) without making a purchase.
Another way Feedonomics helps boost sales is by utilizing its channel allocation functionality. This helps you identify which sales channels are driving the most sales and adjust your product mix accordingly, to focus your resources on the most profitable opportunities.
You can even take the data further, and create custom labels to segment campaigns by profitability, seasonality, and performance. Additionally, you can do A/B testing on product titles, images, and descriptions to see what performs best. This is a great way to see what converts visitors into customers, and you can then apply it across all of your campaigns to maximize the results.
And last but not least, Feedonomics boasts (as they should!) that their customers add nearly two new advertising channels due to the 20 hours per month they save on their feed management. Needless to say, this can without a doubt help drive more revenue to your business, and with its ability to standardize the data to that marketplace’s format, expanding into more advertising channels is relatively easy with Feedonomics.
Is Feedonomics worth it?
From my perspective, it absolutely is!
With its ability to connect to the major eCommerce platforms (including BigCommerce, Magento, and Shopify), it is a great tool for business owners.
In one of Feedonomics’ client success stories, Norton Hurley used the platform to help them tie their site’s product data into Amazon and eBay’s marketplaces. In just a month, they were able to get the feeds setup, and in the first month using Feedonomics, they generated 31% in new revenue.
This isn’t the only success story.
Groove Life was able to go from one marketplace to eight in only a few months, and with the support of the Feedonomics team, the expansion has been a huge game changer for their business.
While there is a learning curve, and the initial setup can get tedious, Feedonomics is definitely a must if you’re looking to grow your business!
Let 121eCommerce help you with Feedonomics!
Are you ready to learn more about the platform, and see how it can help your business? Let’s schedule some time to discuss how 121eCommerce can help!