Not so fast!
If you take this process lightly, you may well be losing time on a product that doesn’t suit your business needs. So let’s explore what a good PIM strategy is and find out the steps to implementing it.
What Is PIM Strategy?
A product information management strategy is the process of implementing such a solution into your business operations. It encompasses all the actions that allow you to choose the right tool and seamlessly integrate it into your eCommerce.
This process can be split roughly into seven stages:
- Defining your strategy goals.
- Defining your product content needs.
- Identifying who will be involved in the strategy.
- Assessing the future PIM system requirements.
- Choosing the right system.
- Implementing the system.
- Ensuring continuity.
Before we get into the details, let’s see how completing these steps can benefit your business.
The Benefits Of A PIM Strategy
So, implementing a PIM tool isn’t an obvious deed and takes several steps to complete. But, what’s the advantage of that? For one, breaking the task into smaller increments will help you yield better results once a solution is in place. And at the end of this process, your shop’s life will become much easier as you will acquire a single source of truth to improve customer experience and automate product data distribution.
Let’s overview the main benefits of implementing a PIM strategy for brands and retailers.
Better product data management. As your catalog grows, the system makes it easier to keep track of information about new items, as well as any changes in the old assortment.
Better customer experience. With information management software, you’ll be able to make new items available faster and provide the most accurate information.
Data syndication. While all your product data is stored in your PIM, you can easily distribute it to other platforms and conform to the different requirements e-market platforms constitute.
Data validation. A good PIM platform will generate reports on missing data, so you can make sure that your catalog is complete and useful to customers.
Retailer-specific requirements. You’ll be able to tailor the details about your goods directly in the tool without having to create the catalog from scratch or risk losing data.
Data standardization. If you have information coming from several brands or manufacturers, most of it is likely organized differently. The software, on the other hand, allows you to create a uniform catalog based on all the sources.
Data collection. You can automate the process of mapping and gathering information and save time on manual labor.
Data enrichment. It allows you to enrich the content you have gathered with quality, improve SEO, and improve the overall experience a customer can have with your shop.
Time efficiency. Such systems reduce the amount of time you and your team spend on data entry and tailoring information from different brands to specific requirements.
Better relations with suppliers. The tool can help you better organize all the documents coming from various brands.