Why You Need A PIM System In 2020 | Benefits of PIM
Businesses who aim to succeed in the eCommerce global race need PIM — product information management. A PIM software is a tool that centralizes all product data into a single source and distributes such information efficiently across all channels. Product information management tools are essential for companies managing multiple SKUs but also for smaller companies who are keen to streamline their workflows across various geographical regions, for example. A PIM helps monitor, enrich, and optimize content data for a catalog and its relevant assets. What are the benefits of PIM software? By 2021, experts predict over 50% of online retailers will choose a PIM solution to boost their sales and increase their efficiency. So why PIM is so crucial these days?
PIM Collects Data–And Why it Matters
A PIM collects all data around a product and enables a business to operate at a larger scale. Technical data (specifications, measures, ingredients), as well as usage data (descriptions, how-to, where-used), are all stored into a single source, making it easier for businesses to get rid of the old spreadsheets. There are other benefits of PIM. For instance, a PIM also gathers emotional data such as product descriptions and stories, as well as media files such as images, PDFs or videos. A business can compile all this information and organize it at a glance.
Product information management tools help you to manage data efficiently. In addition, a PIM collects, centralizes, and streamlines such data from multiple sources (catalogs, online websites, eCommerce websites, and ERP), enabling business owners to syndicate and optimize their content efficiently. This is why PIM has gained so much traction lately in global eCommerce.
The benefits of a PIM for your business
Today, many online retailers struggle to provide customers with a superb online experience while maintaining data integrity over their own products or services. The benefits of PIM implementation solve common issues for retailers.
The challenge is twofold: to increase sales and make customers happy while decreasing internal costs and rationalizing processes. Here is why a PIM can help businesses of all sizes, eager to get more market shares without investing in large marketing campaigns.
- Sell more by reaching more customers quickly
Product information management tools streamline the onboarding process for suppliers and data providers and delivers compelling product experience to engage with more customers. By establishing one source of truth within the global eCommerce sphere and improving data consistency across all channels, online merchants can reach more customers and improve customer satisfaction.
- Save time and money by investing in the right area
Large marketing campaigns cost a lot, and ROI can be hard to measure. PIM can benefit businesses by offering more cost-effective solutions. Supply chain management can also cost your business a fortune. But in the end, conversions won’t happen if you don’t provide customers with tailor-made solutions that appeal to them right away. So what is PIM software used for? A PIM can enable your business to save time and money while boosting your ROI by rationalizing your workflows and enriching customer experience online with accurate product data.
- Merchandise your products better than ever
Before implementing a PIM software, businesses had to tackle product translations, painful inventory management, large spreadsheets, and overall were drained by managing an excessive number of workflows. With a PIM, product management operates much more smoothly: all data around products is accurate, trustworthy, transparent, and updated accordingly — including languages, prices, and inventory. The other benefits of PIM include more efficient merchandising and distribution. With a PIM, a business can improve its online presence thanks to automation and publication of catalogs instantly, ensuring great customer experience is met.
Who else can benefit from a PIM?
Businesses aren’t the only actors in the eCommerce world who can find PIM software very useful. Many others benefit from PIM:
- Marketers, for instance, are constantly seeking to improve customers on multiple channels. They need to listen to the clients, and with a PIM, marketers access more information around the products and customer behavior.
- Retailers and brands do need to understand the benefits of PIM, too. As their goal is to strengthen their connection and partnership with suppliers, a PIM connects the dots between both worlds. This is what PIM software is used for by many actors.
- eCommerce managers find a PIM very beneficial for their activities, as they acquire valuable information on how product data influences sales. As such, customer acquisition becomes easier thanks to product information management tools.
How to implement a PIM for your business?
Choosing the right PIM solution is crucial to reach new heights in global eCommerce. Now that you understand the benefits of PIM — and if your business is ready to take on new challenges — why not consider a PIM application?
- Succeed in global eCommerce
Does your business handle a large number of SKUs? Are you selling abroad or in local markets or both? Are you focused on conversions? Do you struggle with data integrity across various channels? Then, your business may benefit from learning what PIM software is used for and how to benefit from it.
- Find customizable solutions perfect for you
Not every business has the same needs. Some may be concerned with large inventory management while others may seek larger sales. Whatever your objective may be, it’s time to look at the different benefits a PIM can offer.
- Impress your customers and teams
Offer your customers with a memorable, enhanced online experience so they’ll never turn to competition. Increase your retention rates, boost your sales, acquire more leads, and dare to build a truly amazing, loyal customer list, in your chosen markets.
Want to learn more about how Jasper PIM can help you deliver an outstanding eCommerce experience? Do you seek more sales with less effort? Read about Jasper PIM helped successful businesses to gain new markets. Request a demo today and find out more about what is PIM software used for. Start as low as $350 a month.