5 Benefits of A Product Information Management
Managing product data can be a hassle, especially when you are juggling between multiple sales and distribution channels with new products flowing in every month.
According to a report by Statista 27% of shoppers return an item they bought online because it did not match the product description.
Whether you are a retailer, operation manager, marketer, or e-commerce manager, you cannot deny that product content holds significant importance in the e-commerce world.
As product content proves to be one of the more important attributesthan others, businesses need to focus on creating, managing and exporting accurate, useful and error-free product information.
A Product Information Management system (PIM) helps to leverage your product content to segment marketing across various channels and deliver the best product experience for your customers on online and offline platforms
Benefits of a Product Information Management
1. Saves Time & Money
With a Product Information Management system, you can seamlessly transfer products from your PIM system to your e-commerce channels.
Reusing product data and attributes from your PIM repository saves time and effort instead of having to manually key in product information for every channel.
A central repository for product information also saves time for employees and customers who are searching for product information online. As the saying goes “time is money”. With product data management out of the way, your team can focus on core profitable tasks.
2.Ease of Integration and Collaboration
A PIM allows for accessibility and ease of integration with your existing MDM applications such as ERP, social media platforms, e-commerce platforms, POS and other data sources.
Using a PIM you can collaboratively collect data from your existing sources in any form (images, video, text etc) and enhance & modify that data before integrating into your product catalog(s). This helps you to manage master data on one platform instead of having to jump from channel to channel to update or create product content.
3. Better Product Data Management
If you are a retail business, chances are new products are flowing in constantly. As such, a PIM system can help you organize product data as a central repository that stores all your product information. Detailed Product Information is accessible to all internal and external parties via APIs.
A PIM system is useful for keeping track of product data in real-time and enables seamless integration with your existing data sources so you can export those data to multiple sales and distribution channels- thus, providing quality and consistency in product data across all channels.
4. Improve Customer/ User Experience
An effective and reliable PIM system provides your customers access to accurate, useful and error-free product information across multiple channels.
Statistics say that 30% of the US online adults would prefer shopping from online retailers they have never made any purchase from if the product information on the website is detailed.
By delivering extensive and useful product information, a PIM empowers consumers to make easier purchasing decisions and drives great customer experiences.
5. Consistency
Create a reliable brand image with consistent product information across all channels. As a retail business, it is important to reinforce your brand image through the synchronisation of your product data and service across all channels.
Subsequently, it gives access to third-party partners, to help you build your master data collaboratively and create a central repository for all product information
Conclusion
As demand for seamless omnichannel experiences rise, it has become important for businesses to communicate consistent branding and message across all channels through accurate product information.
OmniPIM is a product information management system for omni channel retailing which centralises and harmonises all marketing and technical information of products.
It features an automated workflow which allows for integration and collaboration with your existing sales channels, social media platforms, ERP, printed materials and other data sources for collection.
Subsequently, it enriches product data as per your requirements before exporting the data to multiple channels for distribution. With your product data stored in a central repository, you can reuse product data to enforce business processes, sales and marketing activities.
Whether you are a buyer, supplier, marketer or e-commerce manager, OmniPIM is a flexible and scalable one-stop digital solution for managing your product data seamlessly.
Get started with OmniPIM and stay ahead
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