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Accelerated digitization of enterprises is underway. This is a “yesterday” topic, and the head of the digitization department is most often called Jan Covid. It is also worth taking care of an appropriate PIM system.
Sales KPI bars soar, customer calls break, and your inbox is bursting at the seams. These are not illusions, but the effect of a pandemic that has led us to buy absolutely all online. More, but more often without thinking, as also evidenced by the increasing number of returns. It is currently expected that the e-Commerce market’s value in 2021 will reach USD 162 billion!
For the growth of e-Commerce potential to bring your company maximum profit, it is worth taking care of an information strategy at every stage of contact with a potential customer. In other words – you have to play it right. We’ll show you how you can make it easier. There are 7 reasons why you should be interested in a PIM (Product Information Management) solution.
Informative packages from suppliers
The first stage of information management is its acquisition and systematization. The creative department must spend a lot of time collecting and verifying technical data about products. Most often, he receives them through various channels and in various forms. The more vendors, the more possibilities, and each of them is another place where errors can occur.
Additionally, the implementation of digital files, such as photos, graphics, or videos, is another repetitive task that “wastes” the potential of the marketing team. The use of the PIM system enables convenient integration of the flow of product information from suppliers in one place.
Among the functionalities offered by producers of PIM platforms, we can find many tools dedicated to improving cooperation with contractors. In addition to the possibility of automating the organization of data obtained from many suppliers at once, they allow suppliers to propose new products with their entire specifications. So we do not have to communicate with the supplier for every new product and confirm that everything is ok. We will process the acceptance or rejection of the proposal without leaving the system.
By optimizing the flow of information from suppliers and reducing the need to collect, enter, or verify data, we significantly save the marketing team’s time. In addition, after the implementation of PIM, we observe a decrease in the rate of incorrect product information by an average of 3-5%.
Using a consistent source and data warehouse increases the certainty that the data we have is correct and up-to-date.
Here you can see clearly!
In the PIM system, an important convenience is the ability to create a transparent data structure easily. We will create categories and catalogs of various assortment variants based on the color, size, material, or intended use. Thanks to this, new products introduced with complete utility and technical information will automatically be assigned to the appropriate catalogs and categories.
An organized structure of data storage is also a solid base to start working with, for example, product configurators, which we can integrate with our product information management system.
PIM platform providers guarantee high ease of integration of external applications and a wide range of ready-made solutions. This facilitates the flow of data between numerous systems and facilitates their attractive presentation to customers.
Thanks to the PIM system, we significantly save manually assigning products to the correct categories. In very complex structures and belonging to many categories, these can be many hours or even days.
Create unique Customer eXperience
In recent years, we have seen consumers “taking charge” of the market. Having the desired product is no longer a differentiator. What makes a difference for buyers is an overall consistent product delivery process.
Among the key elements when making purchasing decisions, we find the need to receive all relevant and accurate information about the product. The better we fit in with their needs and expectations, the more effective sales and the greater customer loyalty. In this regard, the need to personalize information is also becoming increasingly important.
Even if our product meets the customer’s expectations, but he cannot find out from the information we provide, it will move to the competition. And yet, we want the client to come back instead of running away.
- Product Information Quality Control – To provide the customer with unique CX, we provide them with 3D information. And we are not talking about video or light projection, but about 3 dimensions of information – technical, functional and emotional. The platforms available on the market include numerous tools to support the creative process of designing engaging content. They carry out, among others, verification of the developed product information in terms of completeness, consistency and correctness. As a result, the entire process of making corrections is much more convenient and faster. Our product datasheet will be equipped with detailed technical data, specifications and manual. The creative department will also show the customer all the advantages of the product by creating unique content that reaches the customer’s emotions, and thanks to DQI, the entire process of preparing product information will be shortened to just a few days in a few weeks.
- Product Datasheet Beautification – For product presentation to be successful, we need more than even the most engaging content. When presenting our online offer, we only act on two senses – sight and hearing. This is a challenge for the creative department to maximize their potential. Proportionally engaging visualization – photos, graphics, video to the prepared content is a solid basis for the implementation of a satisfactory CX. PIMs meet the needs of modern eCommerce, enabling integration with external tools such as Adobe or Microsoft Office. All this to make the product catalog card more attractive. Using the functionalities of Illustrator, InDesign or Photoshop available on the platform,Your marketing team can create compelling product visuals much easier. Each of these tools allows you to design content thanks to convenient access to all multimedia resources of the company.
Support for the work of the marketing team
Dozens, hundreds, and even thousands of products, and you don’t know where to start? First, let’s organize the work plan and the division of responsibilities of our creative department well.
Workflow management tools provide intuitive task management, e.g., the division of products to be developed between employees or the hierarchy of task execution. Your marketing team will carry out the entire process more efficiently, having insight into their work status and seeing exactly what needs improvement and what can already be passed on.
Product information management systems optimize the workflow of the product information creation process. If a task is performed at different stages by a different team member after each stage is completed, the task is automatically transferred to the next person responsible for the next stage of work. In stores with a well-developed assortment, simultaneous cooperation of even several different teams (marketing, commercial, design, etc.) is possible.
For the entire workflow on product information to run smoothly and without complications, we must clearly define the responsibilities and rights of the team members. The PIM system should have advanced access granting system where detailed, and individually, we will set the scope of employees’ rights.
Get to know the client anew
In its forecasts, Forrester clearly presents consumer trends in the eCommerce market in 2021. The perfect customer experience at every stage of contact with the store (CX), combined with information about purchasing decision factors (CI – Consumer Insights), will be a powerful competitive advantage for our online store.
Depending on the PIM platform used, some fulfill the eCommerce need to get to know the client better, thanks to managing information about the client. In them, we will create transparent customer profiles, thanks to which the creative department will efficiently carry out personalization in real-time.
Improved measurement of customer preferences gives the marketing team a better picture of their needs and what needs improvement or what works perfectly. Designing a coherent CX becomes much easier and leads our e-shop to an immeasurably greater benefit, customer loyalty, and trust.
Be the omnichannel
Online stores have undergone many transformations over the years. Initially, they were based only on ERP systems (ERP Focused Setup). The second generation of stores started using eCommerce platforms, such as Magento, and concentrating functionalities in one place. Today, we observe the development of stores operating based on the “Next Generation” platforms, consisting of many integrated systems, each responsible for different functionalities. Such a digital ecosystem is an omnichannel sales “machine.”
Flexibility and availability wherever the client is and needs us at the moment is an introduction to the modern reality of eCommerce. Do you have an online store? Great. Do you sell on the Marketplace? Point for you! Are you considering extending your activities by selling on social networks? Keep it up! This is where PIM systems come in to help the marketing team. By operating in the omnichannel model, you will adjust the content individually to the needs and rules of each supported channel. Importantly, everything from one platform consolidating all files, information, technical parameters, photos, and videos.
Using the product information management system, the creative department will prepare tailor-made content for all your sales channels in one place, such as:
Additionally, if you have foreign sales services or are just planning to implement them, we can often find much more than just a translation in the PIM software. The system helps adjust the content to the linguistic, cultural, or regional aspects of the target area. We can easily accept the translations or mark them as content for improvement.
Reliable communication with the environment as a modern and coherent brand requires support in activities at every level. Activity in the omnichannel model is the best development direction that we can take, both for the B2C and B2B markets. Using PIM will significantly shorten the time of our product launch and reduce the risk of duplicate data, several versions of one product information, or possible errors.
Comprehensively it is a new luxury
It would help if you acted faster, easier, and ever wider. You sell in many channels, countries, and languages , and the last thing you need is information chaos. Integrating the management of all product data in one system sounds like the perfect solution?
With the help of a platform that allows you to manage product information, you will collect data from each sales channel used. All descriptions, technical information, photos, translated content, and product variant details developed by the marketing team are available in one place.
Manufacturers of PIM systems are still trying to go one step further. An example of this is tools that aggregate information about e-shop users. Additionally, integrating the platform with the DAM solution will allow for much more than just managing stored information. It also allows you to convert and edit multimedia file formats.
If you operate in the B2B market, it is worth paying attention to the possibility of adapting to the price list file system when choosing a platform. In B2C, apart from prices, a convenient function is also ongoing control over inventory data.
There are many tools on the market to support this transformation. These are tools from the DOP (Digital Operations Platform) family that digitally allow us to manage our organization regardless of the type of industry. PIM may become a DOP solution with the greatest potential in the emerging eCommerce market in 2021.
- In order for the growth of e-Commerce potential to also bring your company maximum profit, it is worth taking care of an information strategy at every stage of contact with a potential customer.
- The first stage of information management is its acquisition and systematization.
- By optimizing the flow of information from suppliers and reducing the need to collect, enter or verify data, we significantly save the time of the marketing team.
- An organized structure of data storage is additionally a solid base to start working with e.g. product configurators.
- Thanks to the PIM system, we significantly save the time of manually assigning products to the correct categories.
- In order for the entire workflow on product information to run smoothly and without complications, we must clearly define the responsibilities and rights of the team members.
- The PIM system should have an advanced access granting system, where we define the scope of employee rights in detail and individually.
- Depending on the PIM platform used, some fulfill the eCommerce need to get to know the client better, thanks to the tools for managing information about the client.
- Flexibility and availability wherever the client is and needs us at the moment is an introduction to the modern reality of eCommerce.
Research shows that currently, only 20% of companies have a PIM system. Nevertheless, the digital maturity of enterprises is developing dynamically, as another 30% of companies declare a plan to implement PIM in the coming years.
These declarations are not surprising when we look at the most important benefits of PIM implementation: shortening the production time of a single product catalog card, optimization of product launch time, effective workflow in the marketing team, convenient data import and export between integrated systems, easier cooperation and communication with suppliers, possible ongoing personalization of information, reduced repetitive activities, elimination of chaos and information errors, improved and consistent customer experience with the product and the entire brand.
The range of benefits from implementing the PIM platform is much wider than those listed above. However, we believe that these few aspects have a key impact on working with the product.
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