CatalogsBuilder

What is a PIM?

Product Information Management (PIM) software gathers, manages, and distributes all the information necessary about a product from a single source database. Using a PIM, content can be viewed from 360°, resulting in a compelling product experience.  The system is designed to safeguard valuable product information accessible to internal organizations, systems, and other partners.

In the early days of eCommerce, consumers only had access to the information through catalogs or through direct contact with the shops. However, today's consumers make purchasing decisions using specifications, descriptions, images, or videos of products available online.

Different business contexts require holistic approaches tailored to their needs. You can get started easily with this complete PIM overview.

Benefits of PIM:

There is a close relationship between customer experience and product information. Customers' experiences are negatively impacted when brands fail to provide relevant, reliable, and relevant product information across all channels. Businesses can gain behind-the-scenes efficiency and support with PIM software for better outreach across multiple channels.

Organizations can use PIM software to:

• Quickly and efficiently launch products by eliminating manual hand-offs, data entry errors, and searching for pictures, approved content, and more.
  
  
• Maintain the integrity of the brand by making sure that relevant specifications are delivered to eCommerce websites. Ensure that everything is double-checked before implementing the PIM solution.
  
  
• Never enter the same data twice. Product information management (PIM) gathers product information through ERPs and PLMs to online sales platforms, affiliate networks, and publishers.
  
  
• Reduce the number of emails involved with content submissions and reviews. Access everything within the PIM software.
  
  
• Automate approvals by creating emails to product managers, marketing staff, and legal representatives.
  
  
• Attract shoppers by offering better product listings. With one central product listing rather than multiples, the members of the team have more time to spend on copywriting and image editing.

How Does a PIM Tool Work?

The purpose of a PIM tool or solution is to streamline workflows to allow organizations to provide their customers with accurate, consistent, and high-quality information about their products. Consequently, brands provide a better customer experience leading to higher revenues.

- Data from a central database can be distributed via distribution channels including eCommerce websites, marketplaces, and electronic data feeds to trading partners. A product's master profile contains all the information about it that's stored in the system. Importing product data into the PIM platform can be done by authorized users and system administrators. Users can enhance product information with digital assets, send alerts to collaborators, and export files with the latest product data to eCommerce partners, print publishers, websites, and other outlets.

There is logic or taxonomy within PIM tools to determine how products relate and are organized. Taxonomies are hierarchical classification systems used to organize and describe products based on their classification. In this way, structured product information is generated, making it easy for users to update their product information based on channel preferences for different publishers. Most often, taxonomies are customized outside of a PIM by being used inside the platform.

Businesses rely heavily on their products. The company is better off if they sell. Through a PIM solution, individuals across the department and their areas of responsibility can perform more efficiently; ultimately, increasing the revenue of the company. Here is how individual members of an organization benefit from it:

1. Product Managers

A PIM solution assists product managers in delivering up-to-date and reliable information about products to marketing members. At any point throughout a product’s lifecycle, data can be updated in the PIM tool by product managers, automatically alerting collaborators.

Managing products successfully relies not only on product accuracy but also on flexibility. Products are constantly changing to meet the needs of customers. With a PIM solution, managers possess the power necessary to maintain and share relevant product information regardless of how or when it evolves.

2. Product Marketers

Product marketers rely on PIMs for all information about their products. Copies, photos, and videos are requested and assigned based on a PIM/DAM combination. After positioning and strategizing, marketers attach best-in-class copy and marketing assets to the master product database to drive greater sales.

Marketing teams work hard to create stories that resonate with their audience members, and a PIM (plus DAM) solution can help them do that.

3. Creators

Creators such as copywriters, photographers, videographers, and designers rely on PIM systems for guidance. Creators can access on-demand information that will help them prepare accurate and timely deliverables. Review and approval of their work are then done with the integrated DAM and with the PIM tool, improving workflow efficiency.

4. eCommerce Managers

Managers of eCommerce platforms upload product listings from PIM to the platforms for publishing eCommerce content. The PIM system updates product content and data, triggering an alert when new data is available.

The need for PIM in eCommerce has become increasingly apparent. Today's eCommerce managers are under more pressure than ever to satisfy customers, which is why 100 percent accurate, consistent, and up-to-date information about products is essential.

5. Agencies

Using PIM software, agencies can enhance the information about their clients' products so that they can be syndicated to market, online retailers, and print publishers.

Optimization of product descriptions, including its feature lists, and other documents is handled by agencies within the PIM system. With a DAM and PIM solution, digital assets are linked to product data. Rather than manually updating multiple spreadsheets, the system configures exports with specific product information relevant to every channel.

How Product Information is Managed in a PIM System?

In a Product Information Management system, different information types can be managed. Using such a system, you can support, market, and sell your goods. Attributes range from data to data relating to the product catalog of an organization. However, the attributes of these products are rarely derived solely from one source or department.

Using a CatalogsBuilder’s PIM system, organizations can gather information from multiple sources into a single repository in order to manage it. Listed below are a few examples of what organizations are capable of managing through a PIM system.

1.Product Information:
Described as unprocessed, objective data, product information enables organizations to provide descriptive information on their products. Engineers and product teams typically manage product data internally (e.g. ERP and PLM tools), synchronizing them with the PIM platform. In addition to product data, there are important details like SKUs, weights, sizes, colors, materials, and ingredients.

2. Digital Assets:
Information packaged in digitized form is considered digital assets. In addition to video, 360° images, illustrations, logos, and other documents including instructions, brochures, etc. Marketing professionals can link these assets with PIM profiles along with different types of information to help customers better understand what they offer.

3. Written Content for Marketing:
Product features, benefits, and other information that can drive sales are included in marketing content. Objective facts are often used in this content, but subjective information might also be included to demonstrate the product's true cost to entice the customer to buy.

4. Data Related to Marketing:
Information about marketing helps businesses develop marketing plans, optimize them, and run them efficiently. Data used in marketing include keywords for search engine optimization (SEO), profiles, personas, and brand guidelines. Based on this marketing data, we can create more effective copy and assets. Publishers can also benefit from SEO keywords if they are used to boost ranking, improve on-site performance, and ensure that keywords are used appropriately throughout the channels.

5. Information that is Local and Regional:
This type of information includes market information and location information. Including translations of language variants for marketing copy, conversions of monetary and metric units, images that adhere to cultural standards, etc. Marketers benefit from localized, regionalized information - making the process of expanding faster and easier.

What’s Next?

Product information can be managed and refined using PIM eCommerce software. When it comes to scaling eCommerce businesses, PIMs are a smart and worthy investment. To help your business succeed, we covered every aspect of PIMS in this blog.

Are you looking to increase your eCommerce success with a PIM solution? Find out why CatalogsBuilder PIM is the right solution for you.