What is PIM ?
PIM stands for Product Information Management; software that manages the data surrounding the products in your product catalog such as size, weight, description, reviews and so on. A good PIM solution makes it faster and easier to create deliver & manage compelling product experiences for your end users.
Why do I need PIM?
- The PIM works as a multichannel marketing software tool that allows you to maintain control over all areas of your ecommerce strategy. A PIM in marketing and management has the ability to track all of the catalog and inventory data of a company in real time, sending it to sales channels in the right format and ensuring an automated sync from the PIM to the channel (via API).
- Not all PIM solutions include the variety of connectors needed to launch your multichannel strategy quickly and efficiently. Legacy PIMs use open-source code, which requires a team to configure and maintain connections to inbound and outbound channels. On the contrary, Better PIM is exposed completely via API for your integration make a seamless one.
- PIM is growing in demand by businesses of all sizes. Software that a few years ago was only accessible to large corporations is now within the reach of small and medium businesses. A PIM becomes a necessity when a company handles a considerable volume of products and SKUs.
- Vendors, retailers, distributors, manufacturers and brands using a variety of channels and information documents and product updates will see their performance improve with a PIM.
- The larger your catalog, the more errors, repetitions, and mismatches between channels will creep in. As versions increase with each passing season, the more likely it is that outdated information, or worse, catalog errors will be visible to customers. Having a Single Source of Truth (SSoT) PIM solution can eliminate all such problems adding to your overall business growth.
What are high level components of Better PIM?
- Specifications: SKU, Barcodes, Descriptions, Categories & Brands
- Identifiers: Labels, UPC/EAN, MPN & GTN
- Product Types: Simple, Variants, Bundle, Service, Add-ons
- Media: Images & Videos
- Purchasability: Pre-order, Instore, Forward order
- Pricing, Inventory & Fulfilment: Standard & Advanced pricing, Real time inventory sync, Fulfil from warehouse, store or dropship
Why Better PIM is better?
User friendly approach: Better PIM offers a more user friendly user experience that flawlessly takes the user through complete setup of a product.
Increased efficiency and productivity: The central hub provides your team with a one stop solution in finding all the relevant information relating to a particular product. There will be no time lost or confusion trying to locate, cleanup or piece together your product information. The time you would have lost can be better spent on-boarding new products and expand your product catalog size.
Improved product content quality: A PIM gives you the right infrastructure to streamline and improve the way you work with your products. This means you are easily able to create high quality product information. Well-crafted product descriptions bring the right customers closer to a purchase. Having the ability to add product images, videos or other assets in one location are key in getting the product past the checkout.
A single source for all your product content: Instead of looking around for the most up to date images or descriptions, you’ll have them all to hand in your PIM. For example, if you are about to release a new product line, you can add all the product information into your PIM, if required add more content, related images, press releases and other assets. The power of PIM is that you can then link these products, assets etc into catalogues so that everything is easily accessible.
Enhanced customer experience: PIM allows customer-centric product categories and structures to be created. This makes site navigation significantly more customer friendly. When customers are making specific searches such as finding a particular size or colour, all the relevant products show up. This shortens the customers’ search process by helping them find products quickly and easily.
Improved ROI: Having a modern, well designed PIM can significantly transform the amount of sales you receive. Many companies who are using PIM report increased conversion rates and decreased product returns.