6 Reasons to Outsource eCommerce Product Data Entry
Ecommerce revenues are set to exceed $638 billion by 2022 in the U.S. alone. Outsourcing product data entry for your website fuels your market expansion plans, sales revenue strategies, and helps you ride the wave of success.
Ecommerce industry witnessed tremendous growth in the past years. Projections suggest that eCommerce sales will surpass $740 billion by 2023. Other statistics that indicate an upward trajectory:
· Number of digital buyers to increase to 2.14 billion worldwide by 2021.
· Sale of apparel, footwear, and accessories projected to exceed $123M by 2022.
· Shoppers spend 36% of their budget online on average.
The now online shopping giants Amazon, Alibaba, eBay, etc. revolutionized the 90’s era. Then retail Moghul Walmart walked into the online retail arena; and was followed by Japan-based Rakuten, India-based Flipkart and Canada based Shopify. They became household names too fast.
What does it mean for your eCommerce business?
All these statistics indicate never-ending opportunities for brick and mortar companies to launch their eCommerce website and expand their reach. It means more eCommerce players can and will enter the eCommerce arena and make survival; a cut-throat competition.
For eCommerce merchants, keeping pace with ever-changing customer and industry trends, and evolving technology to retain market share is the top priority. Accurate product data entry is the next critical activity for eCommerce businesses to stay competitive and cut through the competition.
Accurate data on your eCommerce website fuels market expansion plans improves sales revenue, enhance customer experience and satisfaction, and helps the online retailer — ride the waves of success.
Data entry errors in procurement, supply chain, and other areas cost businesses over $600 billion each year.
Data entry from product catalogs, invoices/receipts, images, scanned records, online research, etc., is a primary task that should be done regularly. But doing it in-house through inexperienced professionals reduces your operational productivity.
Due to a lack of dedicated and skilled product data entry professionals, increasing numbers of eCommerce players follow the best practice of outsourcing bulk data entry services. The best data entry companies in India leverage a fine blend of skilled resources and sophisticated techniques to deliver manual and automated data entry services at cost-effective rates.
Which are the other reasons to outsource your eCommerce data entry?
Your eCommerce business requires huge volumes of data to be processed. It confirms the necessity for data entry outsourcing. Data entry of information about thousands of customers and vendors and millions of products by outsourcing service providers paves the path for streamlined product information processes.
Top 6 reasons to outsource your eCommerce data entry:
1. Manual Data Entry: Small and medium-size inline retailers opt for in-house and less complicated manual data entry process to handle complex information; which is harmful to data hygiene of the retailer. To avoid manual data entry errors; retail leaders like Amazon, eBay, and several others shifted to solutions delivered by automated data entry service providers long back.
Errors in data entry damages businesses’ efficiency, productivity, and credibility. The average cost of poor data quality on businesses can range between $9.7 million and $14.2 million annually - Gartner.
2. Customer Experience: Customers prefer shopping online from professional-looking stores with accurately presented product information. Ecommerce product listing data entry services accurately describe and categorize products on your eCommerce site. Having a seamless way of searching and finding desired products on websites; can certainly improve your customer’s shopping experience. They gain confidence on the product purchase decisions and also buy up-sells and other relevant items they find on your shopping website.
Sophisticated data entry of 36 contents like calcium and sodium, from images of 1000 plus packet of food products captured in 550 different angles; helped an American eCommerce website to assist their customers in making immediate but informed buying decisions.
3. Marketing Strategies: Using up-selling and cross-selling campaigns helps your online store generate additional revenue. For this, outsourced data collection and data mining teams bring a complete trajectory of the purchase pattern of your customers used to accurately profile customers. It helps in deriving precise marketing strategies and campaigns; resulting in increased sales, reduced time and cost, and keeping customers attached with your brand for long.
By formulating and implementing accurate pricing strategies, a US based furniture e-retailer increased website traffic by 20% which lead to a proportional increase in a furniture sales, revenue, and profits.
4. Online Reputation: Inaccurate data entry of orders results in higher operating costs and potential market risks for your eCommerce store. Entering incorrect or inaccurate orders for a customer or delivering a wrong item to a customer; leads to customer dissatisfaction, lost sales, and lost customers. These customers go on social media expressing negative views about your website and services. It impacts the brand image of your online retail business. Outsourcing product data entry brings in data accuracy and hence serves best to avoid such instances.
5. Business Functions: Ecommerce business is an assortment of marketing, sales, shipping, customer support, restocking; and all of these activities generate and can operate efficiently only with help of quality data. Outsourced data entry service providers ensure that your eCommerce website executes each of these activities through accurate data. It empowers you to better streamline routine online sales activities and deliver profitable results.
6. Data Security Compliance: E-commerce players are required to keep customer purchase details, loyalty scheme data, and payment gateway details, etc.; accurate, safe, secure, and lawful. Protecting vital data from scammers and while adhering to the Data Protection Act is an additional challenge for your eCommerce store. Outsourced data entry service providers leverage ISO/IEC 27001:2003 certified processes for assured data security.
Final Thoughts
Ecommerce continues to expand in popularity with every passing year, and data is the primary tool that businesses use to boost their efficiency. It’s so important to ensure that product information is accurate, up to date, and contains the right keywords so that your store shows up in search engines. Consider bringing in a third party data entry service provider to cater to all your data entry requirements.
