Monthly Archives: June 2018

Product Lifecycle Management

The Four Stages of Product Lifecycle Management

The Four Stages of Product Lifecycle Management

Products have life cycles too. The product goes through different stages of its life, development, growth, maturity, and decline. The product might be a classic or a fad; they all have their days of decline when newer products outdo them. Product lifecycle management helps in understanding the different stages of products, and to take actions that will help improve its life and increase profits with time.

Companies understand that every product dies eventually, and that is the reason they invest in research and development and come up with new products. However, companies don’t let their products die entirely, more modern packaging techniques, the introduction of different flavors and such are some techniques to improve sales.

Let us now understand the different stages of Product Lifecycle Management

Product Development and Introduction: Perhaps the most expensive phase of a product’s life is its development and introduction. This stage marks the beginning of the product’s life. It might still be under research and development, but the basic model is ready. During this stage, the samples of the product are sent out, changes are made according to consumer’s demands, no promotional costs are occurred, and sales are nil. All the expenses incurred in this stage is on research, development, and sampling.

However, once the product is launched, companies invest heavily in marketing and promoting the product. The sales are low, and the market is small and fresh. From this stage, the product moves on the growth stage.

Growth: In this stage, the company starts to own profits. It comes to know how the consumer and market is appreciating the new launch and how it can still be made better. The marketing and promotional costs are still high as the new product is facing competition. The sales increase at a tremendous rate, and profit margins are high.

Maturity: During this stage of Product Lifecycle Management, the product hits stagnation. The market has accepted the product, the consumers are well aware of it, and it is available everywhere. The competition is highest during this stage as new products from other companies are being launched to keep up with the demands of consumers can be difficult. At this stage, the company needs to invest wisely in improvement and improvisation to make the product better and market it.

Decline: As the name suggests, this marks the end of a product’s market. The market slowly starts to narrow down, there are newer and better products, and the old product is unable to compete with them. The consumers no longer want to buy the same product that they own, and the sales go down tremendously. The decline is inevitable.

Apart from understanding how the Product Lifecycle Management works, it is also essential to improvise them to be able to compete and withstand the tough times.

E-commerce product data entry services

E-commerce product data entry services – Outsource your overload data entry work:

E-commerce product data entry services – Outsource your overload data entry work:

Today e-commerce is the fastest growing market in the world. It is very important to keep your website updated at all the time and have to maintain an effective product data management system. If your e-commerce site is not updated and well maintained, it will not stay ahead in such a huge online market. Accurate data entry is utmost essential to bring all the product details in one place.If you are running out of time to manage such entries or you have lack of staff to do so, you can outsource these works to E-commerce product data entry services. They will do these tasks on your behalf. They have vast experience in this field.

They can manage every single listed product categorized correctly on your online business website so that your customer can notice truthful information. They also manage various specifications such as product descriptions, reviews, images upload, specification, and etc. clearly so it can grab the attention of your customers who are surfing your website.

Some of the key E-commerce product data entry services include:

  • Product data entry:

As a part of this service, their expert team gathers all the product information from several sources that include physical and digital catalogs, brochures, websites, and etc.

  • Detailed product information:

E-commerce product data entry services will write every product details information such as:

– To add product images

– To write features of the product

– To add specification of the product

– To add pricing of the product

– To write a description of the product

  • Adding Catalog information:

E-commerce product data entry services also upload and update catalog information and data entry for various services and products directly on your e-commerce website.

  • Updating product information:

They do not only upload product information but they also keep updating all the product details time to time which has been listed on your e-commerce websites such as packaging details, product specifications, stock inventory, and many other details.

  • Categorizing products:

E-commerce product data entry services help their client to segregate their product in different categories and groups. It helps to client cross-sell other related products or they can even up-sell items with an upgraded version at a higher price.

  • Deleting old items:

If your e-commerce website is flooded with lots of images and you or your staff does not have time to remove it off, you can ask E-commerce product data entry services to do so. They will remove unwanted images from your e-commerce site and keep it clean from time to time. It will be a great help and also it will speed up the entire process.

Thus, outsourcing your data entry work will not only speed up your operation process but it is also cost-effective.

Chat Support

Chat Support – Advantages of Installing It On Your Website

Chat Support – Advantages of Installing It On Your Website

The internet has made us impatient. The digital consumer demands precise information instantly and if he does not get it on your web page he will find who else to give it to him. The question is, “Is your business ready to address this need that is now extremely important for the users?”Here are the reasons why we believe it is important to install a chat support on your website.

A chat support is useful and practical for customers:

Many online consumers seek help from a person while they consult or make purchases online.

In fact, according to a study, 44% of online consumers say that one of the most important features that a website can offer is that a person in real time answer questions at the moment they are consulting or buying online.

It is cheaper: It is verified that a chat support can save telephone expenses and employees time both, in addition to facilitating the capture of data. Among the most notable savings are:

  • Staff can complete multiple tasks at the time of conversation during chat services.
  • It’s much cheaper than a telephone infrastructure. In fact, it has also been shown that live chat customer service is 17-30% cheaper than a phone call.

It helps to increase the database of the company:

When a client requests information, the staff that is attending the chat in an intelligent way can go obtaining data such as name and email so that later they can be used in future digital strategies that the company to promote products and services. Of course, this information has to be protected and secured through a privacy notice that must also be visible on the business website.

Always available that makes reliable:

By having chat support on your site, you are actually building to make a trust bond with your customer. Different people choose different communication channels. one such medium of communication is chat support on your website. It will make customers believe that your company is more open, receptive, available and interested in the concerns of customers or potential customers.

A chat allows generating sales and a quality service:

The major advantage of chat is that you can guide it very accurately for direct sales or support. According to the study provided by the chat system, it can provide essential information since you can check chat histories, also agent performance reports, reports of waiting time and more.

Thus, having greetings or robotic responses can improve the effectiveness of your company. On other hand make sure to provide 100% proper knowledge to your staff who will attend chat service if someone will ask any random question that the staff doesn’t know, your company may subtract the numbers of the customers.

In conclusion, if the company or business needs to benefit from a more practical and efficient, and friendlier channel of customer service, a chat support is the great option for your valuable website.