PIM (Product Information Management) System is a one-stop central storage solution that syndicates your company’s COMPLETE products’ data.
Before going forward, let’s get started with a few questions:
Data (and product content), these days, is indeed everything. Irrespective of how amazing your product is, if you don’t have enriching content associated with the product at the sites where the products are up for sale – the chances are bleak of online shoppers buying your product.
Your products might be listed at multiple sales points, platforms, offline and online portals, marketplaces, advertising platforms, social media, and so on. Well, every place where the product is listed, the ‘about the product’ data given should complement the product. If not, its bad news for you.
Sharing product data across all the channels should be swift, and that is precisely what PIM does. Managing product data becomes easy when you have a PIM by your side, from one place. Large or a small enterprise – the size of the company does not matter, PIM benefits everyone.
“Teams that don’t have PIM tools risk palpable competitive disadvantage with content that’s inconsistent, meets only the minimum market requirements, and fails to engage customers. Teams that do use PIM win customers and expand their markets with product content that engages buyers and drives purchase decisions.” says a Forrester Research Report.
Let’s take a look at the signs on when and why your business must opt for a Product Information Management System.
The good news is that your company is finally seeing the sales you forecasted, and the online shoppers are expecting more products. Every single product has many micro details (size, color, attributes, pictures, specifications, and more) attached to it.
A company of small size can rely upon spreadsheets to store product data. But when your brand becomes significant, the time and efforts which the spreadsheets will ask you to put in will keep increasing. This will take a toll on productivity.
Push away the grey skies even before they appear by having a robust PIM solution by your side when your company is growing. Even startups can utilize PIM to maximize efficiency.
By having all the information stored in a single source of truth (i.e.) PIM, it is easier for brands to experience a quick time-to-market for the products to be launched shortly. Wondering how?
Before launching a product for sales in multiple channels, relevant product-related data will be attached, so customers know the entirety of the product. Since all your product data will be in one repository, thanks to PIM, it will be easier for teams to push the data into relevant channels within a couple of clicks.
When you launch a product, ensure the information in full and fulfilling. PIM helps companies achieve both.
Have you ever spent a lot of time searching for a file because you don’t remember where you saved it? Happens, right?
Have you ever spent hours and hours piecing together your product information, ensuring nothing goes awry?
Have you ever mistakenly entered the wrong data, and you had to edit the whole information again from scratch?
There would be an endless list of ‘have you’ questions if we continue. One common thing of all would be the loss of time. Well, the time you lost (or wasted) could have been effectively spent in framing new strategies for enhancing customer experience if you had a PIM that organizes product information, which all your team can access and act.
Forrester Research study revealed that 87% of online shoppers stated they left a website to research a product elsewhere, usually because the product description or information did not meet their needs.
Customers expect precise and detailed product information, along with images and other digital media. If they don’t find what they want or can’t get the required information from your online store, they move on.
PIM helps merchants provide accurate and up to date product information to meet (and exceed) customer satisfaction.
Imagine a customer wants to buy a coffee mug and enters your online store. They step into the right landing page, take a look at the mugs offered, color choices, features, sizes available, the material used to manufacture, the ability to see all sides of the mug, and so on… before they finally click the buy button.
This is such a fulfilling experience. Customers precisely finding all that they want in an online store is complete satisfaction for both – customer and merchant.
The cycle does not end there. It might even give birth to positive word of mouth, bringing in more visitors.
You can create such fantastic experiences by integrating your business (both online and offline) with PIM – to enrich product content and elevate customer experiences. Get in touch with us to understand how flexiPIM will help you increase conversions and sell more products by streamlining product data.