Step One: Have a PIM Strategy
When you go on vacation do you jump in your car or on a jet and see where you end up with no budget, passport, luggage or time when you’ll get back to work? Once in a while that may be fun but having a destination in mind is usually more productive, less hectic and more economical. Ann Latham writes: A strategy is a framework for making decisions about how you will play the game of business. So, what do you want from a PIM? When asked why PIM is important to eCommerce, Austrian online expert Dominik Pfaffenbauer quickly responded “It’s all about the data, who has more accurate data wins. Look at Amazon and Netflix.” A well-orchestrated PIM will minimize abandonment by reducing errors and providing consistent messaging to your targeted audience increasing your Conversion Rate turning online encounters into a sale. Remember, your competitors are just a click away and a frustrated shopper rarely returns. Your PIM Strategy Framework may include things such as who needs to be involved, what content is needed and where is it, or who is your targeted market. First start with where you want to go and how you intend to get there.
Step Two: Make it Measurable
The are many benefits for implementing a PIM: Faster time to marker, better data quality and easier integration. Measure what is important for you to succeed things like conversion rates, data quality and completeness, cart abandonment and returns rates, and average time to market. Be sure to measure each of these elements prior to your PIM installation to get a true baseline.
Step Three: Make it Important
Plans fail for a number of reasons including lack of team buy in, unclear objectives, or failure to adapt but when the team knows that this is important to the management of the company and this PIM project’s success is visible to the whole company failure does not become an option.