ECommerce businesses can have a massive amount of product data, including descriptions, measurements and inventory. A product data management system organizes and regulates this product data making it uniform and easily accessible.PDM system also makes it users friendly and available to customers as they browse your website.
Product information management is commonly known as PIM. It is a process of collecting and managing all the needed information from descriptions to images and more- about a given product in one central place. As updating of product information is possible through PIM, the efficiency of product information can be increased. PIM also facilitates to add new products to your online platforms. It ensures that your customers have to access to the right information about your products when they are ready to purchase.
Information stored by PIM :
PIM solutions store all the required information on the product, including description, taxation, composition, technical information, hardware versions and other types of information. It also store rich media files such as images, videos. The list of product information management tool depends on the particular business needs and can vary significantly.
When to use PIM :
- There’s a need for data rich information.
- You have multiple suppliers and source of distribution.
- PIM is very useful when price and product catalog has to be updated frequently.
When not to use PIM :
- If you use one platform or one distribution channel.
- Number of products your store is dealing with is very less.
- If you are working with one or two manufacturers.
- If your product doesn’t need rich data description. Less information of the product gives a clear picture to your customer.
Key take aways :
- PIM facilitates your brand awareness and provides excellent customer experience which in turn increases your sales and revenue.
- Having a quality PIM platform is a major step towards creating omni channels consistency.
- PIM is a part of master data management.
Benefits of PIM for your eCommerce business :
#1. Establishes a single source for product information:
PIM exports the primary records of your products quickly to your eCommerce website, market place and social media shops. Any corrections, updates, or adjustments made in records, will automatically be done by PIM across all platforms and sales channels.
#2. Go to market faster :
whether you’re launching a new product or sales channel , you are in the market is determined once you start generating revenue. Automatic workflow reduces the need for manual data entry. Allowing team to launch and maintain new products and sales channel faster.
#3. Improves quality and consistency of product data :
Incorrect or incomplete product data will not only reduce your sales but also the user’s experience. PIM facilitates you to edit, add and review data in one system you will improve the quality and consistency of your product data. Any changes made in the PIM system can be published across your eCommerce platform. Your accurate, up to date information will help you build brand image of your product.
#4. Creates more effective marketing strategies :
customers experience which the co provides is as important as its products and services. In this era customers using multiple channels, it is important that customer experience across different channel should be unified. PIM by establishing one source for your product data will allow you to enhance the user experience, by providing accurate and current information of your product at every step of the purchasing process.
PIM centralizes product information for all other business applications. Product data pushed through PIM to multiple storefronts and sales channels providing the richest shopping experience possible. You can add selected products directly to your eCommerce from your PIM system and reuse product data and attributes from your PIM system in your eCommerce to save valuable time and money. Thus PIM can help grow and optimize your eCommerce business.