There are no longer excuses for products not to be well categorized. Without a product taxonomy, you are putting your positioning and sales potential at risk. In fact, they say that the best place to hide a body is page 2 of Google. For this reason, continue reading Use Product Taxonomy And Its Role In Ecommerce With This API; we will tell you about taxonomies, and their importance, and, in addition, we will share with you a tool that will undoubtedly facilitate the task: Text Classification IAB Taxonomy.
What is Taxonomy?
Taxonomy is a part of information architecture (IA) that deals with organizing and tagging structured and unstructured content to make it easier to understand.
Why is Taxonomy Necessary?
Because it helps customers find what they are looking for through categories, attributes, and values. Statistics say that 75% of users leave a page if they don’t find what interests them in 15 seconds. That is why retail websites with poor architecture sell 50% less than those that are better organized.
Only 10% of e-commerce takes into account the taxonomy and only 16% of the big brands offer good filter options (Nordstrom, Macy’s, Dell, and Apple). Looking at these statistics, it seems clear that high abandonment rates and sales declines are not only due to marketing failures.
Precise and user-friendly taxonomies are not only pretty, but they also have an impact on your profits.
What Types of Taxonomy are Most Common?
Hierarchical and faceted taxonomies. They have many things in common; but your decision will be based on the needs of the product and the size of your website. The facets offer a greater margin of growth without touching the main hierarchy of your taxonomic structure; although it is normal to combine both to achieve better results.
Hierarchical.
It is the best known, a traditional and controlled tree-shaped option in which you have a trunk category that is subdivided into increasingly specific branches. They are usually data in text format and are designed for small websites.
Faceted.
This structure is used to quickly filter large websites with a lot of product information. Customers don’t have to know specific search terms, and those who prefer to explore liberally can combine various text, number, or date attributes to find what they want.
Taxonomies are an Ongoing Work
They never stop evolving. These are not static structures but need to be changed as your business grows, and to make it a bit more difficult for you, you may need to modify your product information if you expand and start distributing your content to certain channels.
The process must be consistent, especially when you add products to an already established structure. If you’re managing a lot of data it can be even more difficult, so it’s best to store it in a Product Information Management system where you can sort through computed attributes to make sure your taxonomies are formatted correctly.
Check Text Classification IAB Taxonomy
The Content Taxonomy has evolved over time to provide publishers with a consistent and easy way to organize their website content. For example, to differentiate “sports” vs. “news” vs. “wellness” material. Text Classification IAB Taxonomy specification provides additional utility for minimizing the risk that content categorization signals could generate sensitive data points about some things. Some examples are race, politics, religion, or other personal characteristics that could result in discrimination.
If you want to know more about this API we recommend…
Classify Any Text You Want And Improve Your Business With This API
Thank You For Reading Use Product Taxonomy And Its Role In Ecommerce With This API
Also published on Medium.