Akeneo News

Oct 04, 2024 5 min to read

Introducing the eBay Marketplace Integration

Discover how Akeneo’s latest integration with eBay Marketplace enables businesses to effortlessly activate their enriched product catalogs on eBay.com, cutting down on manual work and reducing errors. Dive in to see how Akeneo can supercharge your presence on one of the world’s largest online selling platforms.

Akeneo has just unveiled an exciting new integration with eBay Marketplace, providing US brands and distributors with a powerful tool to reach wider audiences and boost their sales. 

This new functionality allows businesses to activate and manage their enriched product catalogs on one of the world’s largest online marketplaces, streamlining the entire process from product syndication to compliance with eBay’s requirements, ultimately driving growth and expanding their reach.

What is eBay Marketplace?

eBay creates pathways to connect millions of sellers and buyers in more than 190 markets around the world. With its advanced technology and user-friendly interface, eBay empowers businesses and individuals alike to list, discover, and purchase products from a diverse range of categories, and offers opportunities for sellers of all sizes to grow their businesses by reaching a vast global audience, while buyers benefit from competitive pricing, a wide variety of products, and secure transactions. 

The eBay Marketplace facilitates thriving commerce by bridging the gap between sellers and buyers, regardless of their location.

Akeneo & eBay Marketplace

With the newly launched direct API integration, Akeneo Activation customers can now seamlessly set up and manage their presence on eBay Marketplace. This powerful integration streamlines the entire process by automatically pulling in eBay’s product requirements, mapping and transforming enriched data from Akeneo’s PIM to match these standards, and efficiently syndicating all of that product information, ensuring that product listings stay fully compliant with eBay’s requirements.

In the past, establishing a presence on a major platform like eBay required brands to dedicate countless hours to tedious, manual processes—navigating through spreadsheets, inputting hundreds of product attributes, and pulling data from disparate sources. This often slowed down time-to-market, introduced errors, and hurt performance on such a crucial marketplace.

Now, with Akeneo Activation, companies can automate the entire workflow, leveraging enriched product data stored within Akeneo PIM and effortlessly syndicating it directly to eBay. This integration not only accelerates time-to-market but also ensures accuracy and compliance, allowing businesses to perform at their best on eBay Marketplace.

You can learn more about Akeneo Activation here, or reach out to an Akeneo expert today to learn more about how we work with key sales channels like eBay Marketplace, Wal Mart Marketplace, Amazon, and more.

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Casey Paxton, Content Marketing Manager

Akeneo

Trending

Oct 02, 2024 5 min to read

The Secret to Building Smart & Sustainable Supply Chains

Discover what serves as the foundation for sustainable supply chains, enabling businesses to make informed decisions that reduce waste, lower costs, and meet the demands of conscientious consumers.

Why are Sustainable Supply Chains Important?

Sustainable supply chains have become a critical focus for businesses across industries, offering numerous advantages that extend beyond environmental goodwill. As companies face growing demand from consumers, regulators, and shareholders for greater accountability and transparency, adopting a sustainable supply chain can become a competitive differentiator. Let’s take a look at a few of the key reasons why sustainable supply chains are important not just for the planet but for your business.

Environmental benefits

The most immediate and visible impact of a sustainable supply chain is its positive contribution to the environment. By reducing carbon emissions, minimizing waste, and sourcing renewable materials, businesses can significantly lower their ecological footprint, not only helping to combat climate change but also preserving natural resources for future generations. 

Financial savings

Sustainability and financial savings often go hand in hand. A well-designed sustainable supply chain can lead to cost reductions through increased efficiency, better resource management, and waste reduction. By minimizing the use of raw materials, lowering energy consumption, and improving logistics, businesses can cut costs without sacrificing quality. Additionally, implementing a circular economy model—where products are reused, repaired, and recycled—extends the life cycle of materials and reduces procurement costs. In the long run, companies that prioritize sustainability often realize higher profit margins through operational efficiencies and cost savings.

Consumer demand

Today’s consumers are more informed and conscientious than ever before, and they increasingly prefer to buy from brands that align with their values. Sustainability is a major factor in purchasing decisions, with consumers actively seeking out companies that are transparent about their environmental and social impact. A strong commitment to sustainable supply chains can differentiate a brand from its competitors, enhance customer loyalty, and even justify premium pricing. Companies that fail to meet this demand may struggle to retain market share as sustainability-conscious consumers continue to grow in number.

Regulations compliance

Governments and regulatory bodies around the world are tightening regulations on environmental and labor practices, making compliance with sustainability standards essential for businesses to operate legally and avoid penalties. From emissions limits to waste disposal and fair labor laws, companies must adapt their supply chains to meet these ever-evolving regulations. Failure to do so can result in hefty fines, legal challenges, and damage to a company’s reputation. On the flip side, staying ahead of these regulations not only ensures compliance but also positions businesses as leaders in sustainability, fostering trust with consumers and stakeholders alike.

Common Challenges for Sustainable Supply Chains

With all of these benefits, you may be wondering why every organization isn’t jumping on the sustainable supply chain bandwagon, and the answer is that overhauling existing supply chain standards and practices is not an overnight process. There are numerous challenges when it comes to implementing these sort of adaptations, including:

Perceived high cost

One of the most significant barriers to adopting sustainable supply chains is the perception of high costs. Many businesses assume that switching to more sustainable materials, upgrading production processes, or investing in green technologies will require substantial financial outlays. While there may be upfront costs associated with these changes, this perspective often overlooks the long-term financial benefits. Sustainable supply chains can reduce waste, improve resource efficiency, and lower energy consumption—all of which contribute to cost savings over time.

Additionally, as consumer demand for sustainable products continues to rise, businesses that invest in sustainability now are likely to see increased customer loyalty and willingness to pay premium prices for eco-friendly products, offsetting initial costs.

Complex information sharing

Supply chains are often global, involving numerous suppliers, manufacturers, and distributors, each with their own set of standards and practices. Ensuring sustainability requires seamless and transparent information sharing between all parties involved. However, this can be particularly complex, especially when dealing with suppliers in regions with varying regulations, technological capabilities, and reporting standards. The challenge lies in obtaining accurate, real-time data about the environmental and social impact of each link in the supply chain. Without consistent, reliable information flow, businesses may struggle to verify sustainability claims, monitor performance, or ensure compliance with sustainability goals.

Transparency and responsibility

A key pillar of sustainability is transparency, but achieving this is easier said than done. As we mentioned earlier, many companies find it challenging to maintain full visibility into every tier of their supply chain, especially when dealing with multiple suppliers. Lack of transparency can lead to problems such as sourcing materials from unethical sources or failing to meet environmental standards, ultimately damaging a company’s reputation. In today’s marketplace, consumers and regulators expect brands to take responsibility for every step of their supply chain, including the actions of third-party vendors. However, holding suppliers accountable can be difficult, particularly when they operate in countries with fewer regulations or where ethical labor practices are not a priority

Product Information: The Key to Sustainable Supply Chains

In the quest for sustainable supply chains, one key element emerges as the linchpin through it all: product information. Clear, detailed, and accurate product information enables companies to make informed decisions, ensures transparency, and empowers consumers to make sustainable choices.

First and foremost, detailed product information helps businesses identify the sustainability of their supply chain. By tracking where materials come from, how they are sourced, and the environmental impact of production methods, companies can ensure that each stage of their supply chain adheres to their sustainability goals. Having access to this data allows businesses to pivot toward more ethical suppliers, reduce waste, and improve resource efficiency, ultimately minimizing their environmental footprint.

Product information also fosters transparency, which is a cornerstone of any sustainable supply chain. Companies that share comprehensive data about the materials, sourcing practices, and certifications of their products demonstrate their transparency and honesty, building trust with consumers and regulators alike while also holding suppliers accountable for meeting environmental and ethical standards.

As consumers continue to demand sustainable products, product information plays a pivotal role in meeting these expectations. Labels like “eco-friendly,” “fair trade,” or “recycled materials” mean little without the detailed information behind them. Offering accurate, verifiable information on the sustainability of materials, carbon footprints, and certifications helps consumers make responsible purchasing decisions, not only strengthening brand loyalty but also supporting the global shift toward more conscious consumption.

Finally, product information aids in regulatory compliance. Governments are implementing stricter guidelines on sustainability, requiring businesses to provide transparent reports on their supply chain’s environmental impact. Detailed product information helps companies stay ahead of these regulations, avoiding penalties and reinforcing their commitment to sustainability.

Without accurate and comprehensive data about your products, their origins, materials, and environmental impact, crafting effective sustainability initiatives is like building a house of cards—it’s fragile and prone to collapse. Sustainable practices begin with knowing your products inside out, and that starts with robust product information. By maintaining accurate, detailed, and up-to-date product information records, businesses can make informed decisions that reduce waste, cut costs, and align with sustainable practices. In doing so, they not only contribute to a greener planet but also meet the growing demands of conscientious consumers.

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Casey Paxton, Content Marketing Manager

Akeneo

Product Experience Strategy

Sep 30, 2024 5 min to read

How Pre-Sale Product Information Makes or Breaks the Customer Experience

Frustrated when the product you ordered online doesn’t live up to the hype? You’re not alone — and brands feel the sting, too. Discover why product experiences are the cornerstone of customer satisfaction and how inconsistent product information can lead to lost sales, returns, and damaged trust.

In particular, there are three key ways the product experience affects the customer experience:

1. Customer trust and retention 

Product experiences go hand-in-hand with customer experiences in retail. Just one bad experience can be enough to deter customers from shopping with the same brand again; it’s critical to manage expectations by making sure your product descriptions are as accurate, consistent, and detailed as possible before the sale is ever made. That way, there are no surprises when the product arrives at their door, ensuring a more reliable experience that keeps customers coming back because they know they are getting what they pay for when they shop with the brand.

2. Brand perception and value

A product that delivers on its promises, comes with rich and accurate information, and provides a satisfying user experience elevates the customer’s perception of the brand as reliable, high-quality, and customer-centric.

In today’s retail environment, where two-thirds of business leaders (66%) confirmed “product and brand values” is the feature that will most likely increase in importance over the next 2-3 years, the product experience also serves as a reflection of the brand’s values. If a company claims to be eco-friendly but uses excessive or non-recyclable packaging, the product experience doesn’t align with the brand’s messaging, leading to customer disillusionment. Brands that offer detailed product information about clear eco-certifications, minimal packaging, or responsibly sourced materials are likely to be seen as authentic and responsible, enhancing the perceived value of the brand and helping to differentiate it in a crowded market.

3. Informed purchasing behavior that reduces returns

Returns are painful for both customers and brands. For customers, they’re forced to deal with the hassle of packaging something up or dropping it off at an approved location. Companies need to eat the cost of return shipping and deal with the costs of restocking products.

There’s also an environmental impact, as returns often lead to increased carbon emissions due to additional transportation back to the warehouse or retailer, contributing to fuel consumption and greenhouse gas emissions. In 2022 alone, emissions from shipping returns equaled 24 million CO2 metric tons. Plus, not every item returned can be restocked, not only wasting valuable resources but also adds to the growing problem of textile waste in landfills. The volume of returns in landfills in the U.S. nearly doubled from 2019 to 2022, amounting to 4.3 billion tons.

A well-curated product experience is one of the most effective ways to mitigate return rates. When customers are fully informed about the product through accurate descriptions, high-quality images, user reviews, and detailed specifications, they are far more likely to be satisfied with their purchase.

Product Information: The Key to Product Experiences

The best way to avoid any post-sale customer frustration, is to have a sound, comprehensive product information management strategy in place, pre-sale. Providing the right information before the point of purchase is the best way to ensure that customers are satisfied with their purchase and are able to make confident, informed decisions. This will pay dividends over time, as customers keep coming back for repeat purchases.

With the vast and fractured eCommerce space today, it’s not an easy feat to ensure product information remains consistent across so many retail channels, marketplaces and outlets. But it is paramount that what a customer sees for product details on one marketplace — such as Walmart.com or Amazon – matches what they see on your website and all other channels. Without this consistency, customers will come to question the reliability and quality of the product and brand experience.

When your product experience is aligned with the customer’s expectations, it creates a ripple effect of positive brand perception, repeat business, and long-term customer loyalty. Investing in a robust PIM system doesn’t just simplify the process of managing and enriching product data, it ends up shaping the entire customer experience from discovery to post-purchase.

If you’re interested in learning more about how a PIM system, like Akeneo, can help you create a compelling customer experience based on product experiences, reach out to an Akeneo expert today.

Are you ready to take the next step?

Our Akeneo Experts are here to answer all the questions you might have about our products and help you to move forward on your PXM journey.

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Casey Paxton, Content Marketing Manager

Akeneo

Trending

Sep 23, 2024 5 min to read

B2B Goes Digital: What That Means for You

The B2B industry is undergoing a dramatic shift, driven by the rise of digital sales strategies and cutting-edge technologies like AI and visual configuration tools. Discover how AI is not only transforming customer interactions but also ensuring accurate, reliable product information across all touchpoints, and learn how B2B organizations can stay competitive in the digital age.

The shift toward consumer-like purchasing experiences

As B2B companies leverage AI and other emerging technologies to enhance product data accuracy and streamline processes, they are also responding to a fundamental shift in customer expectations. Today’s B2B buyers are no longer satisfied with traditional, slow-moving sales processes. They expect the same convenience, speed, and personalization they experience as everyday consumers. 

This expectation shift is not surprising, as we’ve seen a trend of companies across industries racing to personalize their products and services to consumers in a highly competitive market. It’s causing B2B organizations to reevaluate their strategies and adopt digital solutions that deliver more efficient, customer-centric experiences. 

An example of this transformation is the adoption of visual configuration tools. This allows B2B customers to customize products to their needs like the deep personalization options commonly found in consumer retail. By striving to match this level of customization, B2B companies can improve the customer experience and gain competitive advantages within their markets. 

AI-powered chatbots and virtual assistants are further elevating the customer experience by providing immediate responses to customer inquiries. This level of responsiveness mirrors the high-quality customer service offered by leading consumer retail brands and helps close the gap between traditional B2B interactions and the dynamic, real-time engagement that today’s buyers have come to expect. 

Simply put, integrating these technologies allows B2B companies to position themselves to meet evolving market demands while driving operation efficiency and growth. 

Looking towards the future: digital and physical channel integration

Introducing digital channels marks an essential milestone in a B2B company’s digital transformation journey, yet many consumers still value those face-to-face interactions with knowledgeable sales reps, especially when it comes to more complex purchases. So the real challenge lies in integrating the digital touchpoints with physical ones to create a unified and cohesive customer experience; achieving this requires that product information remains consistent, accurate, and reliable across both physical and digital touchpoints.

For B2B organizations, this involves implementing robust systems and processes to manage product information effectively. Leveraging technologies such as a Product Information Management (PIM) solution is essential for creating a single source of truth for data while also investing in tools such as AI that help to deliver higher-quality customer experiences. This approach allows companies to deliver a seamless experience that aligns with the evolving expectations of today’s buyers. 

The B2B sector is undergoing a much-needed transformation as companies increasingly adopt digital sales strategies and cutting-edge technologies. The rise of digital channels, coupled with the integration of advanced tools like AI and visual configuration systems, is fundamentally changing how B2B organizations engage with their customers. 

To remain competitive, B2B organizations must embrace these technologies and ensure they are deployed in such a way that they deliver precise, consistent, and compelling product information across all touch points. As the industry continues to evolve, those able to merge digital innovation with a strong focus on the customer experience will be well-positioned to thrive in the new digital landscape. 

Discover the Future of B2B

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Casey Paxton, Content Marketing Manager

Akeneo

Product Experience Strategy

Sep 16, 2024 5 min to read

The Key to Keeping up with Regulations

Navigating today’s regulatory landscape can feel overwhelming for B2B brands, but it doesn’t have to be. Discover how a proactive compliance strategy, driven by centralized data, can help B2B businesses not only meet today’s regulatory demands but also unlock new opportunities and stay ahead of the curve.

For B2B brands, today’s regulatory landscape can feel like navigating a complex, never-ending maze. In our latest B2B survey, we found that nearly half of B2B companies cite regulations as one of their organization’s biggest challenges. 

On top of that, we found that almost all (99%) of B2B companies face multiple hurdles in staying compliant with local, regional, or industry-specific regulations. From supply chain management to automation to data security and privacy, consistently maintaining compliance is paved with challenges. 

In this context, creating a single, centralized source of truth for product information would enable B2B businesses to stay compliant with current and emergent regulations while staying agile enough to prepare for future changes. 

Let’s take a look at just a few of the benefits of a centralized data system and how B2B organizations can stay up-to-date and compliant with some of the most challenging regulations, including Digital Product Passport legislation and ETIM classification.

 Tackling the Regulatory Compliance Challenge

For years, B2B companies approached compliance with a reactive mindset – doing so to avoid fees and stay out of legal trouble. But today’s complex regulatory environment requires organizations and business leaders to view compliance as a strategic priority so they’re no longer at a disadvantage and playing catch-up with competitors or the latest requirements. 

Still, nearly every B2B company is grappling with compliance challenges, often due to the sheer volume of regulations and the need to adapt quickly to new requirements, including:

• Supply chain management practices: Our survey indicated that 50% of companies continue to struggle with aligning supply chains to meet regulatory demands.
• Implementing agile processes: Agility was deemed as essential for 48% of B2B organizations to remain compliant in our survey, meaning that there’s a need for these businesses to be able to pivot quickly when new regulations are introduced or existing ones are modified. 
• Leveraging automation: While automation can be a powerful tool when it comes to streamlining data auditing and updating, 45% of organizations face challenges in automating compliance processes.

These issues are further complicated by the fact that regulations are a living, breathing entity that often evolve at the whim of technology developments or when public fervor over technological advancement reaches unprecedented heights. B2B organizations and their leaders need to strive for a straightforward, proactive approach to compliance rather than remaining reactive. 

Spotlight on Emerging Regulations

To better understand these challenges facing B2B organizations and why a centralized repository for data is needed, let’s explore a few emerging regulations that will reshape how B2B companies operate in the years to come. 

1. Digital Product Passports

Digital Product Passports are designed to provide consumers and business partners with highly detailed insights into a product’s entire lifecycle, including where its materials come from, how it was produced, and how it can be disposed of responsibly. Information like a unique identifier, material data, sustainability, and repair data will have to be shared, in addition to the basic but still mandatory product name, product model, manufacturing place and date, and warranty details.

Essentially, a DPP is a digital record containing comprehensive information and details about products through its lifecycle. The latest updates to DPP regulation now require companies to provide detailed data on the product’s repair history, reusability, resource efficiency, and details on any potentially hazardous substances. With this updated regulation, the EU is working towards ensuring maximum visibility, transparency, and durability for products.

2. ETIM Classification

ETIM Classification is a standardized system for classifying technical products, particularly in the electrical and building industries. With ETIM, products are assigned specific attributes to make it easier for manufacturers, distributors, and retailers to manage product information more consistently. 

Updated versions of ETIM are released regularly, requiring companies to update product classifications on a regular basis to stay compliant. Rather than simply adhering to these regular updates, B2B leaders should take action further by proactively improving supply chain transparency and efficiency. 

Standardizing product data across industries allows companies to collaborate better with suppliers and customers, reduce operational redundancies, and speed up product-to-market timelines. Companies that take up the leadership mantle in adopting and enhancing ETIM standards can offer a more seamless experience to customers and partners, putting them ahead of competitors who may still need help with disorganized product information. 

3. Natasha’s Law

Natasha’s Law, named after a young woman who passed away after an allergic reaction to a prepackaged sandwich, mandates stricter labeling requirements for food products in the UK. This law requires food producers to list all ingredients and allergens clearly on packaging, even for products made or assembled on-site. 

For food manufacturers, retailers, and restaurants, ensuring compliance with Natasha’s Law means having accurate and up-to-date ingredient information readily available. A centralized source of information allows companies to quickly and accurately update food labels, reducing the risk of non-compliance and protecting consumer safety. 

A Single, Centralized Source of Truth is Essential  

Given the evolving complexity of modern compliance, relying on disparate systems and reactive, manual processes is a recipe for missteps. A single, centralized source of truth – where all data is accurate, up-to-date, and easily accessible across teams – addresses many compliance challenges faced by B2B leaders. Creating and maintaining this single source of truth also helps future-proof your business against future regulations. 

Simply put, a robust repository of data enables your organization beyond doing the bare minimum and opens the door to new opportunities that can enhance efficiency and consistency, build consumer trust, and potentially create new revenue streams. 

There are a multitude of reasons why a centralized source of truth is key for compliance, including:

• Greater consistency and control across the organization: A single centralized system ensures every department works with the same information, significantly reducing the risk of conflicting data, which is crucial in meeting regulatory requirements. 
• Proactive regulatory shaping: When a company has complete command over its data, it can shape the regulatory landscape by being at the forefront of best practice discussions with industry bodies and regulators. Taking a proactive approach turns your company into a sought-after leader, setting industry gold standards, and potentially influencing the outcome of new regulations. For instance, Twintag has shaped the future of sustainability and transparency by actively discussing the European Commission’s Ecodesign for Sustainable Products Regulation (ESPR), which includes Digital Product Passport (DPP) requirements. Twintag’s level of involvement cemented its status as a leader in helping to define industry standards and practices for product sustainability.
• Unlocking new revenue streams through being compliant: Simply adhering to compliance can open up new business revenue streams. For example, as consumers and governments push for greater transparency, companies embracing Digital Product Passports not only ensure compliance but can leverage their commitment to sustainability, potentially attracting new customer demographics and partnerships. Compliance becomes a brand differentiator, leading to higher revenues and stronger brand relationships. 

Anticipating and Preparing for the Next Wave of Compliance

Regulations are only going to get more complicated and intense over time, especially as consumer demand for increased transparency grows and as regulatory bodies continue to emphasize granular data reporting and product safety. It’s imperative that B2B leaders start preparing now by implementing a centralized data management system and a proactive strategy in order to stay compliant in the future.

The sooner you start preparing, the less likely it will be that you’ll have to scramble to meet compliance rules as they come into effect and potentially face fines and disciplinary actions from legislative bodies. Those who treat compliance as a market asset to carve out new segments and define how regulations are to be followed will lead the charge in innovative solutions for compliance management. 

Discover the Future of B2B

Download the comprehensive report based on the findings of our survey of B2B professionals to receive insights and actionable tips on navigating the tricky waters of the B2B industry.

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Casey Paxton, Content Marketing Manager

Akeneo

Product Experience Strategy

Sep 11, 2024 5 min to read

Building a Product-Centric Culture: Lessons from Peavey Industries

Peavey Industries is shifting toward a more product-focused approach, breaking down silos and fostering a collaborative environment that’s driving innovation and long-term success. But how did they overcome the challenges of securing internal buy-in, and what role did training play in making this shift possible? Discover how Peavey Industries is navigating this journey and the key lessons they’ve learned along the way.

At Peavey Industries, a shift is happening — one that’s about becoming a more product-focused company. And at the heart of this transformation is a simple idea: success starts with people.  

Peavey Industries LP, the parent company of Peavey Mart and MainStreet Hardware, has been serving loyal customers across Canada since 1967. With a focus on essential products and services for the rural lifestyle, Peavey Mart has established itself as a trusted destination for quality goods and personalized customer service. 

Led by Shaun Guthrie, the Head of Technology and eCommerce, Peavey Industries has learned firsthand how important it is to manage change in a way that gets everyone involved. Initially focused solely on technology, Shaun’s role soon expanded to include eCommerce with the intention of fostering collaboration between the technology and eCommerce teams, breaking down silos and creating a cohesive environment where ideas flow freely and solutions are reached more swiftly. 

By fostering a sense of ownership and teamwork across the company, Peavey Industries is setting itself up for long-term success in an ever-changing market, with innovation and customer satisfaction leading the way. It’s this focus on people that’s truly driving their transformation.

Internal Team Buy-In: The Key to Success

One of the most significant challenges faced during this transition was securing buy-in from all team members. Change often meets resistance, especially in large organizations. To overcome this, the leadership team at Peavey Industries emphasized the importance of communication and involvement. 

By involving everyone and ensuring that each team member understands their value, Peavey Industries has fostered a culture of mutual respect and shared goals, not only improving workflows but also strengthening the organization’s culture.

The Akeneo PIM not only transformed the way we work but also ignited a wave of positive change within our organization. We have created an environment where productivity soars and innovation thrives while driving concrete business results.

Shaun Guthrie Head of Technology & eCommerce

Peavey Industries

The Role of Training and Education

Everyone’s heard the old adage, “Rome wasn’t built in a day.” Well, it’s no different here with Peavey Industries; a transformation as significant as this didn’t happen overnight, and requires ongoing education and training to ensure the entire internal team is up to speed. 

Leveraging Akeneo Akademy empowered Peavey’s teams with the essential training needed to quickly and efficiently adapt to the new tools and processes in a product-centric environment. As Shuan Guthrie notes, “Training through the Akademy has been essential. It’s not just about learning new skills but about embracing a mindset of continuous improvement.”

The Future for Peavey’s Product-Centric Revolution

While Peavey Industries has made significant strides, the journey is far from over. As the company continues to digitize and expand its offerings, the lessons learned about change management, product-centricity and team buy-in will remain at the forefront of its strategy.

For organizations looking to embark on a similar journey, the experience of Peavey Industries offers a valuable lesson: change takes time, but with the right approach, the rewards are well worth the effort.

If you want to learn more about Peavey’ Industries road to a product-centric organization, you can tune in here to listen to the full story. 

Are you ready to take the next step?

Our Akeneo Experts are here to answer all the questions you might have about our products and help you to move forward on your PXM journey.

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Samira McDonald, Senior Manager, Community

Akeneo

Trending

Sep 09, 2024 5 min to read

The 5 Most Common Product Data Challenges in B2B

Discover the five most common product data challenges facing the B2B industry today, from integrating AI and managing supplier data to ensuring team efficiency and consistency across channels. Gain an understanding as to how these challenges are impacting B2B companies and learn actionable strategies to turn them into opportunities for growth and success.

3. Making product information more easily understood and accessible to buyers

As B2B buyers increasingly seek self-service options, the demand for easily accessible product information has grown. In fact, 52% of B2B companies are focusing on making more product information available online to meet this demand. 

Digital self-service portals, social media, and product marketing websites have become essential channels for sharing product details, with 51%, 46%, and 45% of companies, respectively, using these tools to engage customers. However, the challenge with these channels lies in making this information both accessible and easily understood by potential buyers. Customers expect detailed product specifications, pricing information, and usage guidelines to be readily available across all digital touchpoints. The ability to access this information quickly can make or break a sale, particularly for companies selling to decision-makers who often juggle multiple priorities, need immediate access to critical details, and prefer these self-service resources.

Failing to deliver easily understandable product data can lead to frustration among buyers, resulting in abandoned carts or lost sales. Plus, poorly communicated product information can create unnecessary support inquiries, which drain customer service resources and further impact the company’s efficiency.

By prioritizing the creation of clear, comprehensive, and accessible product information, businesses can not only enhance the buying experience but also reduce pressure on their support teams and improve overall customer satisfaction.

4. Managing how product information is activated on sales channels & marketplaces

As B2B organizations expand their presence across multiple sales channels, including online marketplaces, managing consistent product information becomes increasingly complex. Half of the B2B organizations surveyed see significant benefits from selling on B2B marketplaces, such as:

• Access to more customers (52%) 
• Increased visibility (50%), and
• Faster sales cycles (43%)

However, 40% of companies report that ensuring product data is consistent across channels remains one of their biggest challenges.

Inconsistent product information across channels can lead to confusion among buyers, who may encounter conflicting descriptions, prices, or availability data. This inconsistency not only frustrates customers but also damages the brand’s reputation and can lead to increased return rates and customer churn.

Additionally, some companies choose not to sell on B2B marketplaces because they want to retain control over their customer data and optimize their own channels. However, forgoing marketplaces can limit their reach, making it essential for companies to strike the right balance between marketplace participation and channel management. Implementing effective product information management systems is key to ensuring data consistency and maximizing the potential of each sales channel.

5. Collecting and managing data from suppliers

One of the most common challenges cited by B2B organizations is the time and effort required to collect and manage product data from suppliers. The process is often slow, with 70% of companies taking two weeks to gather and collate product information, and 10% taking more than 30 days. Plus, B2B companies stated that it takes an average of 16 days to enrich product data; that’s nearly one month’s time between receiving a new product to launching the product.

This delay in collecting, managing, and optimizing supplier data can have significant consequences for the business. When product data is not readily available or accurate, companies may struggle to launch new products, update listings on sales channels, or provide customers with the most up-to-date information. As a result, sales opportunities may be missed, and customer trust can erode due to inconsistent or outdated product information.

Improving supplier collaboration and streamlining the data collection process is critical for B2B organizations that want to accelerate their time to market and enhance their competitiveness. 

Turning Product Data Challenges into Opportunities

Product information might not always make the headlines, but it’s the backbone of every B2B transaction. The findings from our latest B2B Survey Results Report are a wake-up call: 99% of B2B businesses face significant product data challenges, and the impact reaches every corner of the company. Whether it’s delayed time-to-market, inefficient team collaboration, or inconsistent data across channels, these problems are far from isolated—they are woven into the fabric of daily operations.

Yet, there’s a silver lining. While the challenges are real, 91% of business leaders agree that their Product Information Management (PIM) system is invaluable. Those who embrace solutions—whether through AI automation, better team collaboration, or more efficient data collection—are the ones best positioned to gain a competitive edge.

The takeaway? If your product information strategy isn’t keeping up, neither is your business. It’s time to move from manual struggles to streamlined success, and with the right tools in place, the future of your product data management can look a whole lot brighter.

Discover the Future of B2B

Download the comprehensive report based on the findings of our survey of B2B professionals to receive insights and actionable tips on navigating the tricky waters of the B2B industry.

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Casey Paxton, Content Marketing Manager

Akeneo

Trending

Sep 06, 2024 5 min to read

The Product Data Paradox: How GenAI Revolutionizes Content Creation

In the age of digital retail, consumers demand detailed, accurate, and personalized product content across every platform, yet creating this information at scale can be a daunting challenge for brands. Discover how GenAI is resolving this paradox by automating key tasks such as generating product descriptions, optimizing SEO, and translating data for global markets.

4. Creating marketing content

GenAI is proving invaluable for retailers who need to scale their marketing efforts across multiple channels. From email campaigns to social media posts and video scripts, GenAI can generate marketing content that aligns with a brand’s voice and objectives. According to Forrester’s Consumer Digital Experiences Survey, 61% of digital experience professionals who indicated their retail organization is using generative AI with customers use it to generate images for use in consumer communication.

Retailers like Carrefour and Stitch Fix are already leveraging GenAI to create marketing assets at scale. Carrefour used ChatGPT and AI-generated avatars for its video marketing, while Stitch Fix employed GPT-3 to generate ad copy for its fashion products, saving time for its creative teams.

Retailers can harness the power of GenAI to create blog posts or articles that showcase key product features, or generate email newsletters with content that is automatically tailored to different customer segments for a more personalized approach. Beyond this, GenAI enables the creation of individualized content, such as customized product recommendations or reminders, enhancing the overall shopping experience. 

In the realm of video marketing, GenAI can produce scripts optimized for platforms like YouTube or TikTok, ensuring the messaging resonates with specific audiences. It also simplifies social media management by crafting content that maintains brand consistency while adapting to the unique needs of each platform. Plus, the speed at which retailers can generate this content with AI means that they’re able to respond quickly to real-time trends and stay relevant in the fast-moving digital landscape.

5. Getting customers involved

GenAI can also be a tool for customer engagement. By creating interactive, customer-facing features, brands can deepen customer relationships and drive loyalty. A great example is 1-800-Flowers.com, which used ChatGPT to create personalized poems and songs for Mother’s Day. 

Thinking outside of the box on how to utilize GenAI for exciting customer engagement campaigns is a great way to not only capture media attention but also engage customers who may not have interacted directly with your brand otherwise. Some other ideas here could include:

• Creating personalized shopping guides based on individual preferences and purchase or browsing history.
• Generating interactive quizzes that recommend products based on customer inputs.
• Creating AI-powered virtual shopping assistants to answer questions 24/7 and make intelligent product recommendations in real-time.
• Developing AI-driven design tools, allowing customers to create personalized versions of products (Coca-Cola is a great example of this.)
• Enabling AI-generated customer surveys to collect feedback in an engaging and interesting way.
• Powering customer service chatbots that respond intelligently to complex queries in real-time without requiring extensive customer support resources.

6. Translating product data

In a global marketplace, translating product information quickly and accurately is vital for reaching international customers. Traditionally, this has been a manual process, prone to inconsistencies and errors.

GenAI can automate and standardize the translation process, making it easier for retailers to localize content for different regions. Commerce search vendors are also integrating this functionality to help global brands offer a consistent shopping experience.

There’s a massive range of potential uses of GenAI in translation, including localizing product descriptions to suit different markets while taking into account cultural context. It can also translate customer reviews, ensuring that feedback is accessible to customers worldwide, and can enable the creation of region-specific marketing materials that align content with local preferences and customs. 

Retailers can generate multilingual FAQs to address the needs of diverse audiences, and use real-time translations during live customer service interactions to ensure smooth communication. Finally, GenAI can automatically translate labels and product specifications, ensuring compliance with regulations in different countries, helping brands maintain consistency and accuracy on a global scale.

The State of GenAI in B2C Commerce

The paradox of modern retail is clear: while consumers expect highly detailed, personalized, and accurate product information across every touchpoint, creating this content at scale has traditionally been a labor-intensive process. 

However, as we’ve explored, GenAI is helping to resolve this challenge by enabling brands to automate and streamline the creation of product data, from generating names and descriptions to summarizing reviews, optimizing search engine performance, and even translating product information for global markets.

With nearly two-thirds of B2C commerce vendors already leveraging GenAI, the potential for scaling product information efficiently while maintaining quality is becoming more achievable than ever. Whether through automating marketing content, enhancing SEO, or engaging customers with interactive experiences, GenAI is proving to be a vital tool for the future of retail.

For even deeper insights into how GenAI is shaping the B2C landscape and transforming product information at scale, you can download “The State of Generative AI in B2C Commerce Solutions” for a comprehensive look at the latest trends, real-world applications, and strategies to help your business stay ahead and take advantage of GenAI.

The State of GenAI in B2C Commerce

Featuring real-world applications and practical advice for integrating genAI into your business strategy, this report dives into how this tech is impacting the B2C commerce industry.

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Casey Paxton, Content Marketing Manager

Akeneo

Trending

Sep 03, 2024 5 min to read

The Future of B2B: Insights from Our Latest Survey

Discover the key findings from our recently released survey of B2B industry leaders, uncovering the challenges and opportunities B2B organizations are facing today. From the increasing demand for B2C-like buying experiences to the complexities of managing product information and maintaining regulatory compliance, this article offers a snapshot of the critical insights that will shape the future of B2B.

1. B2B Buying Experience is Becoming More Like B2C

Today’s B2B customers expect the same level of convenience, personalization, and seamlessness that they experience when shopping as consumers.

For instance, 90% of B2B organizations plan to significantly grow their use of online marketplaces in the next two years. These platforms, traditionally associated with B2C transactions, are becoming a crucial tool for B2B buyers to compare products, check prices, and make purchases with ease. 

Digital self-service portals, social media platforms, and marketplaces are also becoming integral to the B2B buying process, enabling customers to engage with brands and make purchasing decisions independently.

2. Managing Product Information is a Major Pain Point

Our survey also revealed that 99% of B2B organizations face challenges with managing product information. 

Despite the availability of advanced tools to help address these issues, 40% of organizations still manage product information manually. This reliance on outdated methods is a significant area for improvement, as manual processes are prone to errors and inefficiencies that can impact product launches and customer satisfaction.

3. Regulatory Compliance: A Universal Challenge

Another major concern highlighted in our survey is the challenge of maintaining regulatory compliance. Nearly all respondents (99%) indicated that they face multiple challenges in this area, with 50% citing supply chain management as their top compliance concern.

The complexities of navigating ever-changing regulations, especially across different regions, make it critical for B2B organizations to invest in robust compliance solutions. Automation is a key enabler here, but 45% of respondents still find it challenging to implement these technologies effectively.

4.  High-Quality Product Experiences Drive Customer Satisfaction

In the competitive B2B landscape, delivering high-quality product experiences is essential for customer satisfaction and business success. Our survey found that two-thirds of senior managers see increased repeat business and conversions as key benefits of offering exceptional product experiences.

However, many organizations struggle to deliver these experiences consistently. A comprehensive Product Experience (PX) strategy can help B2B companies elevate their customer engagement across all touchpoints, driving more profitable sales and fostering stronger customer relationships.

5. B2B is Digital and Omnichannel

The final key takeaway from our survey is the growing importance of digital and omnichannel strategies in the B2B sector. A significant 85% of companies have already adopted a digital sales strategy, with digital channels now accounting for nearly half of total revenue for many businesses.

When asked to look ahead, the B2B industry leaders we interviewed identified several innovations that they expect to shape the future of B2B product experiences the most; these include further adoption of AI, hyper-personalization of product content, and the integration of augmented reality (AR) and virtual reality (VR) to create more immersive customer experiences.

The Future of B2B

Navigating the future of the B2B landscape will not be easy, and requires a strategic blend of technology adoption, customer-centricity, and data efficiency. From mimicking the seamless, personalized experiences of B2C to grappling with the complexities of product information management and regulatory compliance, the path forward is fraught with obstacles but also rich with potential.

As customer expectations evolve, so too must the approaches that businesses take to meet them. Organizations that invest in robust Product Experience (PX) strategies, leverage the right technology and automation, and prioritize regulatory compliance are better positioned to thrive in this developing industry.

For a deeper dive into these trends, more critical insights, and actionable strategies for your organization, be sure to download our full 2024 B2B Survey Report as it’s packed with valuable insights that can help you navigate this period of change and position your business for long-term success.

Download the 2024 B2B Survey Results Report here.

Discover the Future of B2B

Download the comprehensive report based on the findings of our survey of B2B professionals to receive insights and actionable tips on navigating the tricky waters of the B2B industry.

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Casey Paxton, Content Marketing Manager

Akeneo

Trending

Aug 28, 2024 5 min to read

Are You Ready for Digital Product Passports?

As more brands are transitioning to Digital Product Passports (DPP), there are crucial steps that need to be taken to ensure that brands are compliant with regulations already in place and upcoming regulations. Ranging from data standardization to security protocols, let’s take a look at a few strategies that can future-proof your business through your product information and lay the foundation for compliance with complex regulations.

Who’s Impacted by DPP Regulation? 

The DPP project was unveiled by the EU on March 30, 2022, within a broader package designed to make sustainable products the norm in Europe. Access to DPP data is expected to be made mandatory by 2026.

Given that all products placed on the EU market will be affected, DPP is expected to impact value chains globally, despite it being a European initiative. If a fashion manufacturer headquartered in the US produces in Asia, but sells in even just one European country, it must provide a DPP for all its products.

As far as industries are concerned, battery industries will be the first to comply, with the following industries to quickly follow suit:

• Textiles
• Construction
• Electronics
• Plastics
• Chemicals
• Automotive

Other DPP requirements for specific industries will be rolled out over time. These will be based on targeted product categories that align with the EU Circular Economy Action Plan.

Ensuring Compliance 

Navigating the waters of compliance can be a tricky one, especially when the exact expected format of DPP is still unknown. However, the more prepared you can be with product information, the faster your organization will adapt and comply.

This is exactly what Akeneo can bring to your organization: a scalable source of truth for your product information adapted to your business needs. 

And technology is not the only component to ensure you are ready with your product data: an omnichannel product experience (PX) strategy is required to take that product information and ensure that it reaches the right audiences, at the right time, in the right place. 

The benefit of uniting composable technology and a PX strategy is that not only are you creating a ready-to-use source of truth for all your products, but it also provides your team with the scalability needed to address any new requirements from a marketplace or legal initiative, or even a future evolution of something like DPP.

With Akeneo as your backbone, your team will be able to:

• Organize the required information within Akeneo PIM thanks to a dedicated attribute group (gathering all the DPP related information for instance) or a table attribute. 
• Export the information you need precisely in the right format and the right language, thanks to the native feature Tailored Export to prepare all the required information to generate a compelling product detail page. 
• Turn this extracted information into a specific format with the Akeneo DPP App, created by Ocode, which provides a simplified way to comply with the European regulations on DPPs for transparency and traceability.

Product information is not only the key to a Digital Product Passport, but to complying with all ever-changing regulations, and Akeneo can assist in bringing a brand or organization a scalable source of product information. Coupled with an omnichannel product experience strategy, Akeneo can help ensure that the product information reaches the correct audience, at the right time, and in the right place. 

To learn more about how to navigate the waters of Digital Product Passports, you can explore the DPP app yourself, or reach out to an Akeneo expert today.

Are you ready to take the next step?

Our Akeneo Experts are here to answer all the questions you might have about our products and help you to move forward on your DPP journey.

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Virginie Blot, PXM Evangelist

Akeneo