If you’re a business that sells a lot of different products – especially on the digital shelf – then it must get overwhelming managing them all.
Don’t worry, we understand.
But how exactly can you ensure both consistent quality and service when there are so many loose ends floating around?
Well, a product information management system is one way to keep tabs on everything you do online marketing-wise – as well as how well certain products and channels are performing.
In this article, we explain why product information management is so important to growing your ecommerce business.
What is product information management?
To be able to market your products effectively, you need to know exactly what’s going on with them at all times.
It’s no good doing a bunch of guesswork, especially when it comes to external factors like resellers. You must get a handle on the facts.
But what can product information management do to help?
The right product information management (PIM) system provides a centralised hub from which you can access and control complex details around your inventory. This includes data collation, catalogue management and even sales distribution support!
So, if you’re ever worried about something to do with one or several of your products, the PIM system you have in place will almost certainly have all the data you need to put things right.
What resources does a PIM system hold?
Depending on which product information you need, a PIM system can help you find:
- Product codes and names
- Stock data
- Technical specifications (i.e., weights, dimensions, materials, and colours for products and packaging)
- Shipping information
Some can go even further and give you detailed information about:
- Product categories, incl. tags, kits and bundles
- Marketing data such as SEO info, product reviews and enriched product descriptions (based on specific buyer personas for various ecommerce channels)
- Digital assets and media (i.e., images, videos, PDFs, sizing charts, etc.)
- Localised data, incl. translations and international shipping details
More up-to-date PIMs incorporate augmented reality (AR) and virtual reality (VR) functionalities for added convenience, along with standard design files like CAD. This is all to make accessing the product information you need as a user much easier.
What are the benefits of having a PIM system?
PIM systems are equipped with plenty of time- and money-saving features that help facilitate:
- Faster time to market
- Increased brand compliance
- Improved customer loyalty
- The ability to sell more products faster, incl. upsell and cross-sell opportunities
- The streamlining of critical workflows within your business operations
- Better omnichannel user experience
Who uses a PIM system day-to-day?
If your business sells products online, then it’ll definitely benefit from its own PIM system.
Effective PIM is crucial for managing sales across the digital shelf, and can help you win big.
All areas of your business’s sales funnel may utilise PIM to considerable advantage, including:
Typically the original source of your product information, manufacturers are also now becoming salespersons in their own right.
Almost all reseller and marketplace channels expect the manufacturer to have some involvement in how its products are presented online, and their input can be easily managed with the help of a PIM system.
As a company, your brand is everything. And if you have more than one to look after, then you’d better be prepared to offer a slick onboarding experience for any PIM system.
Apps, websites, marketplaces and even brick and mortar stores are now almost solely dependent on the effectiveness of product information management.
Having a PIM system that delivers high-quality product experiences for customers, regardless of their device or location, is therefore essential.
If you’re dealing with multiple channels, varied product catalogues and thousands of product images and/or videos each day, your processes need to be swift and straightforward.
PIM systems take away all the tough complexity of managing such large-scale operations, displaying high-quality data in uniform data feeds that allow distributors to have complete peace of mind.
Supplementing PIM systems with Magpie DBX
Enhancing an existing PIM system? Starting from scratch on your product information management journey?
Magpie DBX can offer some of the best support around!
From one centralised hub, Magpie provides you with the tools you need for ecommerce success. Our price tracker updates every 24 hours, refreshing over 45 fields’ worth of aggregated data each time so you have the most accurate information.
Likewise, stock and delivery monitoring isn’t a problem for us. We have the necessary tools to track which of your products are readily available, as well as those that are running low and need reordering. Estimated delivery times can be obtained from our synthesised data collection, so you know exactly where customers should buy your products if they want to stay happy and keep loving your brand!
Eager to try out Magpie DBX? We understand why! Just give us a call or drop us an email to arrange a free demonstration.
And remember to follow us on our social media for more super handy marketing tips!