Testing the Markets
The streamlined approach you gain through this technology will allow you to get your product open to a test market anywhere in the world quickly. Whether you introduce your wares through eCommerce or retail avenues, it will allow you to start quickly and then track test data for your marketing team. You can learn quickly which markets will provide the growth you’re looking for and form a sound strategy for continued expansion.
Selling in Multi-Currency
When considering selling in other countries, you have to create processes that allow you to sell in each country’s currency. This is a function that this type of software provides, as it will convert foreign currencies for you. From an accounting perspective, this saves a lot of time and clerical work. From a sales and marketing perspective, it gives you a quick apples-to-apples comparison of results around the world.
Speeding Up Time to Market
Faster time-to-market is critical to staying innovative and keeping your customers interested in your products. Domestically, this is one of the key reasons companies invest in this type of software. That benefit is only magnified for international operations. Even a multi-storefront, multi-channel operation across several countries can get new products introduced everywhere at once and reduce the time it takes to do so.
Preserving Brand Image/Consistent Brand Messaging
Your brand image is special and what makes a company recognizable. When considering a global expansion, you don’t have to sacrifice the integrity of that. There are two ways PIM software protects your brand messaging. First, by allowing you to manage all product information from one place, you can easily ensure that your brand messaging stays consistent. Second, it has multi-lingual capabilities that let you share that message anywhere in the world.
As you imagine implementing a PIM system in your company, you can see the advantages it will give you as you work to expand globally. While it will certainly allow you to accomplish this more quickly than you might have thought, there is another key factor to consider: the immediate results you will gain in your domestic operations. Streamlined, quicker product entry, accuracy, consistent brand messaging and faster time-to-market speeds will improve your bottom line immediately. The return on investment you will gain can even lead to more cash flow for that global expansion you’re planning for.
Invest in the Future
As you can see, whether you’re considering an international eCommerce sales expansion or increasing your presence across the world with a multi-channel or multi-storefront strategy, PIM software is critical to your success. There is no time like the present to take that first step!]]>