Product Information Management (PIM), a system for product information management, is eagerly used especially in e-commerce and is a tool that definitely enriches every business. It doesn’t only help in managing the product information but also helps in building a positive image of the company in the eyes of customers. Thanks to complete data, interesting and comprehensive descriptions, users are satisfied with the contact with the store. This approach to the data administration allows to establish an emotional connection with users. And yet you can not create a positive User Experience without good product experience, which undoubtedly consists of valuable information about the assortment of the store.
The effectiveness guaranteed by PIM refers to your certainty that the information contained in all sales is consistent, current, useful for users and personalized. The PIM information allows you to create extremely positive experiences in contact with the product. This is just one of many benefits that PIM brings to your business. What else can you gain by using it? Check out the most important benefits which the Product Information Management offers.
Increased sales and profits
Have you ever wondered why customers prefer to shop at your competitors? Have you ever searched the Internet for answers? If so, regardless whether you have found it, the PIM tools are just for you. One of the main advantages of using them is that they directly contribute to increase the conversion rate. This means that the higher quality and more comprehensive product data, consisting of a variety of relevant information, after the customer enters the site, convinces him to take action and thus to make a purchase.
In addition, it appears that comprehensive information descriptions contribute to the reduction of returns. Customers who receive their goods they purchased get exactly what they expected so they are not disappointed with the purchase. The main reason of returns is incomplete and incorrect product information. And whatsoever, incurring unnecessary costs. Product Information Management contributes to the reduction of the rate of return due to the elimination of manual errors that appear in the data. It shows you the incorrect and incomplete information about the product as well as implements validation processes to ensure that you provide accurate information about your assortment each time.
How else does PIM contribute to your company’s profits? Modern solutions are extremely important in modern B2B and B2C trade. The implementation of new technologies, which will additionally be personalised for specific groups of recipients, becomes an obligation. Emerging chatbots, voice-commerce tools, artificial intelligence (AI), augmented reality (AR) and intelligent personalisation are all facilities that require structural data. PIM comes to help with this. It centralises and structures data about products that are immediately available for the technologies mentioned above. At the same time, the processes of implementing the new sales and marketing solutions are considerably simplified and do not require excessive involvement.
A more efficient team
PIM can do many processes without involving human into it. Thanks to it, people who are responsible for creating and maintaining sales descriptions may focus on other activities rather than continuous updating of content for different sales channels and manual operation of each platform separately. Product Information Management is also able to automate up to 80% of the tasks that you had to do manually before. As a result, the team of copywriters or marketing specialists may focus on doing other activities instead of constant creation of dynamics catalogs adapted to organised events, promotional campaigns or seasonal sales.
How does PIM work? It is able to automate the import of raw product data from source systems. It also manages the export of extended data to each channel of their presentation. There is only one task left for copywriters: they have to create unique and persuasive sales texts. What’s more, PIM can also transform the chaotic process of inputting new product data thanks to the built-in workflow. In result, the people who are responsible for the texts are easily leaded through the next steps. It significantly increases productivity and enables more effective cooperation between teams, departments or even regions.
Why does PIM enable you to increase your range, expand your channels and sales markets? Because it allows your team to spend less time managing the products that are on your platform and and reduces their efforts with implementing the new ones. The available products can be divided quickly and easily into categories to which the appropriate attributes and descriptions are automatically assigned. Thanks to this, the employees can use the possibility of mass editing and supplementing information about products and use the option of automatically assigning value to products, product groups or their categories.
The PIM system ensures efficient omnichannel marketing for your company. It is very important when there is a lot of competition in the e-commerce industry. As an entrepreneur, you want to be wherever your customers are although it is not always possible. Fortunately, thanks to PIM system, you can even meet completely different platform requirements regarding product information. It will allow you a quick export of optimised product descriptions to every sales channel.
You will efficiently master new markets together with PIM because automated and structures product data, thanks to connecting with translating tools, will be translated into another language used by your potential customers in a specific region of the world. So you can browse, approve information about the local products and publish catalogs in completely new places without even moving out of the PIN system.
PIM and MDM
MDM (Master Data Management), or primary data management, is an IT solution and activities undertaken by companies in order to high quality, reliable, up-to-date and available most important basic data (e.g. product, employee, client and material files). It is used in various business processes by many organizational units and computer systems within one company. The IT solutions support management in the area of finding and removing duplicates. They implement standardization and automation as well as mass application of validation rules. The aim of MDM is creating consistent and accurate information available to all employees and for every system throughout the enterprise.
Product Information Management is a part of MDM. It is referred to being its subset that provides reliable product information and it is very often a support for marketing and merchandising. Because PIM is a business solution and not and IT initiative, its implementation process is cheaper and easier than a general organizational MDM.
PIM and PLM
PLM (Product Lifecycle Management) is a Product Lifecycle Management System. It supports companies in creating and developing the product since the moment the concept is created, through the design and production of its final shape. PLM software enables companies to effectively manage the entire lifecycle of products until they are recycled.
Product Lifecycle Management focuses primarily on internal data and does not contain a lot of data relevant for customers. However, thanks to PIM, you can get the right information about the products and thus prepare the assortment for contact with the user.
PIM and DAM
DAM (Digital Asset Management) is a digital data management system. It enables storage, keeping, finding and sharing of data. Its operation is based primarily on the management of digital multimedia files, e.g. video films, photos and images. This system guarantees a specialized searching and controlling version that allows companions to maximize the use of digital files.
PIM solutions also allow you to manage digital resources, including movies, images and PDF files, which provide detailed information about the product. So what is the difference between PIM and MDM? The latter solution manages a much wider range of digital resources and is used not only to administer the product data. Although DAM is for companies a system that is complementary to PIM. Numerous integrations that connect both systems are available.
What PIM to choose?
Is it worth to implement the PIM system in your company? Definitely yes. The benefits coming from it are a strong argument for such action. If you care about efficient service of your store as well as efficient business, you should use PIM solutions. You can do that by selecting the Pimcore open source web platform that is based on data source management and User Experience. As the only platform it combines ready-made functions of PIM/MDM, CSM (it is a system for managing content on the Internet), DAM and e-commerce. This software in a form of scalable web application is ready to use immediately.
You can also use the Akeneo PIM solution that guarantees you a friendly interface that improves your work. It offers efficient tools for data import along with a possible expansion of new content and other parameters. It will also improve the work of your team.