Product Information Management (PIM) systems aren’t anything new. In fact, when I was asked to put this piece together, I reviewed my previous blog articles which date back to 2015. The truth is, the fundamentals of why a PIM is important and who needs a PIM hasn’t really changed. As with many digital advances, B2C seems to have got the jump on B2B in this space.
But firstly, let’s start with what a PIM is and its purpose.
A PIM is a software solution designed to centrally manage product data by assisting retailers, wholesalers and merchants to centralise and harmonise all the technical and marketing information related to their products, such as product attributes, specifications, descriptions and content. Furthermore, a PIM allows companies to efficiently collect information related to their products from internal and external sources, enable internal stakeholders to collaborate on the product content and finally, to distribute product information to all types of output channels.
Selling into different channels is why B2C has got the jump on B2B in this space. B2C are more often utilising a PIM to manage output to marketplaces such as Amazon and eBay as well as housing product descriptions in different languages. But there is no reason why this is not just as important for B2B selling. Most organisations have different sales representatives and selling tools for their different wholesale accounts. A PIM is a solution for where this information is stored but also enables the ability to transmit this information digitally to the right customers.
A PIM is not your ERP. It is a dedicated platform specifically designed to enhance and enrich your product information. Integrated into your digital ecosystem, a PIM will support the reduction of operational costs through increased efficiency and improve conversion by providing the right information to the right people.
If you’re still not convinced a PIM is suited to your business, here are the 15 reasons why you need a PIM:
- Avoid spreadsheet nightmares with a single source of truth
- Increase staff productivity and velocity
- Distribute and collect product information across the entire supply chain
- Enable suppliers and staff to upload and edit product content
- Access bulk aggregated data which enables rapid publishing
- Integrate with InDesign to rapidly create print collateral
- Enable faster time to market for new or changing product data
- Extend your product catalogue by easily supporting new products and suppliers
- Expand into new countries, territories and languages with ease
- Prepare your multi-channel future by delivering an optimised and relevant experience across all channels.
- Enhance your business intelligence with detailed attribute and taxonomy architecture
- Deliver custom price catalogues and service every custom vertical effectively
- Personalise your content for each channel to enhance market suitability
- Turn browsers into customers with quality and relevant product data
- Improve your searchability onsite and offsite
Want to know more? Balance Internet was pleased to host the final of the four-part Magento Commerce Webinar series on ‘Succeeding in B2B eCommerce’. In Episode 4 we discussed, ‘How Product Information Management (PIM) can turbocharge B2B digital success’ and cemented the 15 reasons why B2B need frictionless product information management. Watch the webinar here.
At Balance Internet we have been supporting our clients with their digital ecosystem needs of over 10 years. If you’re thinking about integrating a PIM in your business or want to discuss your digital transformation strategy – reach out for a chat today!