The Edge Blog
The Edge - The official blog of Edgenet, Inc. Talking smart about the world of buyers' guides, product data feeds, and data feed optimization solutions.
We've been telling you for years that better, highly structured data results in a bigger bottom line. Better data reduces inefficiencies, as indicated in an IBM study showing that companies lose an average of 8.2 million dollars annually from data collection issues.
And that's just data collection, not dissemination. One of our partners indicated that a supplier in their industry had to create between 50-100 data sets for 50-100 distributors.
Most of us suffer from a bit of the "So What?" syndrome - the mindset that causes emails, dishes, or voicemails to stack up. The syndrome gets worse when it comes to change. Think of how many of your Facebook friends grouse about minute changes to Facebook. Often, we are dragged kicking and screaming to change.
On May 31, Google announced changes to its Google Shopping which will require any merchant who wants their products visible to submit a feed of information to Google. And the information you submit better match what's on your website.
Even before the product is rolled out, some members of the jury are returning a verdict.
On May 31, Google announced massive changes to Google Shopping, which are scheduled to take effect completely by October 1. Changes have already begun , and as experts begin to understand what's coming, some are worried about how retailers will react. Blogger Andrew Davis details "Why The New Google Shopping S*cks For E-Merchants."
Take it from us - Davis is right when he expresses concerns about a general, industry-wide ignorance to the importance of product data. We've been on our soap box a while, and even though we see the overwhelming evidence that Ezeedata's a game changer for data quality - and earnings - we have continued to witness businesses that don't see value in high quality product data.
Many of us who remember the old days of searching for products online - like two weeks ago - will recall that typing in a general term at Google.com would yield a smattering of results that you had to parse through.
Google realized that's just plain bad business - and it breaks one of its principal rules: be relevant.
So, if you typed in "tent" at Google.com in May, you'd get some AdWords ads, and some listings. CPCStrategy.com is reporting that today, you'll see something like this:
(note: we tried and did not get this result, but that would be normal for Google, as it experiments with its new interface)
Even though the changes are massive, there's no need for panic. Google may be a giant, but it's no Godzilla.
By now, most savvy retailers - and even a few of the late adopters - have realized that Google has changed online retail with its announced changes to move to a pay-for-play model. Here are a few details you might not have realized.
In its latest video, Edgenet gives examples of how Ezeedata, its data feed optimization tool, changes how products appear on the internet. In example after example, more and higher-quality data was provided for shoppers. Sometimes you just need to see the difference to understand how better product data will result in better branding and increased sales....
Edgenet's Peter Montross and Craig Cervenka are featured in the latest episode of "Edgenet Trends," and they're talking about the demanding world of product data feeds, product data management, and meeting the ever-changing target set by consumers and retailers.
In 2000, no one would have cared too much about how many ounces your travel-size shampoo was. By the end of 2001, laws had changed, and 3.5 ounce bottles were necessary. Does your car have an ipod dock or interface? Some people are making buying decisions based on whether they can play their music while driving.
We at Edgenet continue to hear from manufacturers and suppliers who are certain they know who is shopping for their products, and therefore these manufacturers and suppliers KNOW what product details their shoppers want and need.
You sure about that?
We'd like to present Exhibit A: The Cave People.
The LA Times reports that millions of people in China live in caves. They like it there. Some of the caves have running water, electricity.
What product details are valuable to Chinese cave people?
We'll give you a moment to think about it.
Perfection Spring & Stamping Corp, a family-owned manufacturer of metal stampings, extension springs and wire forms, is a great example of a company that has only just begun to scratch the surface of what the internet can do.
At one point, Perfection employed 18 agencies to sell its parts. They've since eliminated many of those agencies, and have begun to embrace the power of internet search.
Edgenet Trends is back, and in this episode, Edgenet's Vice President Peter Montross and Product Data Specialist Joel Carstedt share some comedy - and tragedy - of bad data. They also show the rich, quality product data that Ezeedata delivers every day....
When veteran technology reporter Steven Levy wrote a book, "In The Plex," he was given unprecedented access to the campus and the minds of the geniuses at Google. From the founders on down, he found that one word was mentioned everywhere, in any strategic conversation. "In The Plex" mentions the word 319 times:
We've been telling you for years that consumer behavior has shifted forever. We see it in studies like this one, which explain that impulse buying is dead. Challenging economic times, the rise of mobile devices being used as "data devices", and the increased demand for better images, videos and details have all combined to create a population clamoring for more.
We've recently stumbled across a study which proved our point. The study showed
Meet a blogger who is as enthusiastic about the effectiveness of product data feed optimization as we are - Lisa Williams. She explains that data feed optimization can increase revenues 5% - 20% - consistent with Steve Tucker's success - and says that she thinks search is "sexy."
Impressive - almost! This article at the Local Internet Marketing Consultants site is just about as forward-thinking, spot-on with the lingo, 100% right with today's world as an article can be.