Product Information Management
Assure control of your data and digital assets before revamping your website. This eliminates costs and reduces market response times making you more efficient and capable of creating new web and print content in minutes to rapidly adjust to market trends.
Imagine a world where products are easily found, descriptions are always complete and accurate, images display consistently, related content helps guide buying decisions, and suggestions are always relevant. This can only happen when your product data architecture has considered every aspect of the digital experience. With millions of SKUs from hundreds of suppliers in different formats, multiple platforms that need to pass data back and forth, and countless other data points, there are a lot of moving parts to consider. It is a perfect storm that must come together to deliver a seamless experience to the customer. There is nothing easy or sexy about it but it is a crucial investment that the top performers in all major markets have made.
RNR Market Research reported: “The Product Information Management marketing is estimated to grow from $5.11 billion in 2016 to $15.78 billion by 2021 with an estimated CAGR of 25.3%. The indispensable requirement to have centrally managed data is the driving force of Product Information Management (PIM) market. Rising need for compliance and verification, mounting demands for operational excellence and data quality, compiled master data on real-time basis, manifestation of unified customer view and client centricity, need for centralized system for improved marketing and selling of products through distribution channels are some of the prominent factors driving the adoption of PIM software and service.” www.rnrmarketresearch.com
Content and Digital Marketing
Product Information Management (PIM) is the technology, practice and process of aggregating and collecting data or content about a company’s products and services. PIM is the method in which a company or organization manages the lifecycle of product data that may come from multiple sources, then delivers it to a customer or distribution channel for sales or marketing consideration. Digital Asset Management (DAM) is the technology, practice and process of aggregating, organizing and presenting Digital Assets Perspective such as images, videos, PDFs, or infographics. Together they are the core of Content Marketing that drives Digital Marketing activities to target, engage and persuade the individual user experience leaving no gaps as they move from recognizing their need to purchasing your product, one step at a time.
Benefits of PIM
PIM makes targeting and personalization more relevant. Successful e-commerce sites excel by utilizing PIM to affect buyer behavior by presenting product recommendations based on buying behavior, locality, patterns and history which is all available as a single source within a PIM system. A personalized experience requires presenting timely and specific content to your audience about what they want based on how they behave and matching these PIM data points with the appropriate product. For example, I have never bought a suit coat without a new tie, why should the online experience be any different. Bundling products or presenting complimentary products for combined savings by guiding a customer through the sales process results in increasing the average order value and enhancing loyalty by delivering a personalized product experience.