When you realize that your content is not working out for your e-commerce business as you would expect…or you simply want to optimize its already good performance, it is time to transform your strategy.
Product Information Management (PIM) becomes the inevitable part of your transformation process. However, to transform your strategy in such a way that enables you to reap maximum returns, you need a strategic PIM implementation partner. We at Coreshop Solutions are ready to provide you with such a helping hand.
CoreShop Solutions is an expert in the PIM implementation strategy that guarantees the successful transformation of e-commerce management.
PIM allows you to effectively manage your product information so that it boosts customer experience at your online shop and consequently optimize sales. Customer Experience Management (CEM) dictates that you don’t rely on guesswork but planned, deliberate and sustained action to ensure that your customers gain optimum positive experience at your online shop.
There are many reasons as to why you have to transform your strategy with PIM. CoreShop Solutions has carefully selected the Top 10 most compelling reasons that you must not overlook.
Top 10 reasons for transforming your strategy with PIM
From its practical experience in PIM implementation, CoreShop Solutions has identified the following top 10 reasons as to why PIM is your ideal product information strategy for your transformation process:
PIM systems allow complete control of your content on e-commerce systems like Magento, BigCommerce, and Shopify.
Giant commerce engines such as BigCommerce, Magento, and Shopify are not customized to optimize your product information. Their content topology is not friendly to the needs of customers. Thus, you have to employ your own Product Information Management system to cater for this deficiency.
PIM takes advantage of the inherent Master Data Management (MDM) of these e-commerce engines to customize content for product information. It goes further to curate this content in such a manner that is customized for each potential channel that your customer may use in accessing your online shop.
Omnichannel capabilities inherent in PIM offer the ability to manage multi e-commerce shops and landing pages and POS systems in store kiosks and many other customer touch-points.
Any endeavor to manually create multiple channels on traditional e-commerce engines such as Magento, Shopify and BigCommerce hasn’t been impressively successful. It is not only hectic, heavily resource-consuming, and prone to errors, but also results in sub-optimal customer experience. These engines were simply not designed for such capabilities. They are such generalistic behemoths to carry out such precise tasks. Nonetheless, the great thing is that they can be tailored to work with the PIM system. All you need in this tailoring process is an experienced expert such as CoreShop Solutions.
PIM enables AI and other innovative technology for visualization.
Artificial Intelligence (AI) is taking over some of the human tasks and performing them much better. One such important area where AI is excelling is visualization.
Visualization is inevitable when it comes to the presentation of data in a way that easily enables an enterprise to make quick, relevant and crucial decisions in a more precise way.
AI is currently not part of most e-commerce engines. Thus, like PIM, you will need the help of experts such as CoreShop Solutions to successfully incorporate it into your e-commerce engine.
PIM allows better inventory and vendor management, it can, in fact, manage your logistics up to the end thus boosting your commerce experience.
When it comes to e-commerce, inventory management becomes crucial. To maximize profit, you have to balance between the risk of overstocking and the risk of understocking. Each has its costs.
To allow optimal stock level, PIM has an excellent stock monitoring system that alerts you about the Re-order Level (RL), the Economic Order Quantity (EOQ) and even warns you of the stock at the risk of becoming spoilt or obsolete.
With PIM, you can also be able to have a more accurate stock valuation at any given time. This helps you to avoid underpricing or overpricing. Both scenarios are dangerous to your business.
PIM improves customer experience.
The goodwill that accrues to a firm is a result of positive customer experience. Goodwill is the firm’s most expensive asset. No firm can afford to risk losing it, unless it is under such crazy mismanagement.
PIM improves customer experience by ensuring that product information is customized as per the particular channel that the customer is using to access it. For example, how product information is displayed on a desktop is not the same as how it is displayed on a Smartphone. Having a uniform display is going to inconvenience either user or both. A desktop client won’t be impressed by a Smartphone display and neither will a Smartphone client be impressed with a desktop display. PIM ensures that each client is served as per the requirements of each unique channel.
PIM reduces customer return of products
Customer returns are often a result of poor product information. When product information is poor, customers are more likely to make an erroneous buy decision. When they realize that what they have bought does not fit the product description, or the product is not what they understood it to be as per the information provided, they are definitely bound to return it.
Customer returns are costly. If they become excessive, the firm is likely going to shut down. There is nothing that chews up a firm’s goodwill like customer returns.
Luckily, an effective e-commerce management that efficiently employs PIM will grossly minimize such chances of abnormal customer returns. That means more sales, greater customer experience, and increased goodwill. Eventually, the firm’s wealth is maximized.
PIM provides better supply chain visibility
Supply chain visibility is important for the success of your e-commerce business. PIM’s omnichannel presence ensures that your product has outstanding visibility.
Visibility helps to create brand awareness which is important when it comes to your marketing effort.
PIM reduces the workload on digital marketing staff while increasing effectiveness
Blending AI with powerful customer behavioral metrics ensures that most marketing tasks are automated. This way, your marketing staff is saved the hassle of doing mundane repetitive tasks. This frees them up to engage more of their intelligence towards creative endeavors. This boosts the effectiveness of their decisions and actions.
Pimcore’s innovative customer module drives persona-based marketing across all your channels.
Through Customer Management Framework, Pimcore has a Customer Data Management (CDM) module that leverages big data gathered from customers’ behavioral habits to enable persona-based targeting of marketing campaigns across channels.
This CDM enables marketing automation which allows quick response to customer’s actions and behavior. This, in turn, boosts customer experience. As part of Customer Experience Management (CEM), CDM helps boost customers’ buying decisions and thus increase sales while building upon goodwill for more repetitive purchases.
PIM enables e-Commerce system changes or upgrades with less effort
The biggest hurdle to e-commerce management is when it comes to changing or upgrading an e-commerce site. How to handle product data becomes a very sensitive challenge.
Most upgrades and changes to the e-commerce system ends up with loss or corruption of product data.
The biggest advantage of the PIM system is that it enables seamless change or upgrade of product data without the risk of loss or corruption.
This is because PIM draws from the Digital Asset Management (DAM). PIM extends DAM by relying on its inherent versioning and replication of data by spreading it across multiple domains, thus ensuring not only product data safety but also product data integrity.
CoreShop Solutions – Your Strategic Transformation Partner
CoreShop Solutions has been in the business of implementing the PIM system on various e-commerce platforms for a long time. This has made it become a reliable strategic partner of choice for many e-commerce enterprises.
CoreShop solutions can assess your current e-commerce site and ensure that you effectively implement PIM to reap maximum benefit from your transformation strategy.