Brands and retailers must disrupt their existing business models in order to cater to the expectations and demands of today’s consumers – who want everything available in just a couple of clicks. Failure to do so puts their business at risk of going under, fast.
However, self-disruption is a major undertaking involving people, processes and technology, and it’s not cheap. To fast-track processes and mitigate cost, brands must find a solution that ties all these components together.
What is PIM and how it helps?
A PIM (Product Information Management) solution helps brands and retailers collect, clean, enrich and distribute product information across multiple sales channels. It serves as the organization’s central repository for product information as well as a hub where internal collaboration begins.
Why is this important? The more data you have, the more complex its management becomes. A manual and siloed approach usually results in errors, operational inefficiency and a host of other business critical issues, which eventually leads to higher operational costs, revenue loss and worse, customer dissatisfaction.
Implementing a PIM solution not only puts all product data in a central and accessible area, but it streamlines processes needed to go to market faster and improves product experiences. By eliminating the challenges around product information management such as inaccuracy, incompleteness, inconsistency, duplicates, etc., businesses can put the focus on enriching their product content.
How? A PIM solution enables companies to deliver the right information to the right channels, at the right time – and in the right context.
Ultimately, a PIM solution is foundational to the delivery of compelling product experiences. It is the starting point in developing campaigns and promotions based on personas, locales and preferences – enhancing the ability of brands and retailers to personalize and contextualize product experiences.
Learn more in the “10 Ways a PIM Solution Can Help Your E-Commerce Business Scale to New Heights"