Product Information Management or PIM are the processes and technologies focused on managing information about products. It focuses on the data required to market and sell the products through different channels. So who needs PIM?
CatalogStudio is Questudio’s PIM software. It provides features to create, manage and maintain all product information in a central repository. It consists of a powerful system comprising several modules. Following are some of the factors based on which one should adopt a PIM solution.
An organization that is planning to increase its sales must look at employing PIM. It can help in creating collections of products. Rules can be applied to the collection at the click of a button for a sale or for discounts. PIM can help in bettering the navigation of the website and thus increasing sales. It helps in updating the product information in a matter of seconds.
PIM includes the feature of digital asset management for automating processes. It can help in getting your customers to your page and making them stay there. It ensures that well managed information is available on the website. This makes the products more visible and accessible on a search through search engines. A well-organized and shareable content of products is an outcome of PIM with proper keywords, product descriptions and engaging data. One can annotate one’s products so that the invisible metadata on the web store pages can feed the search engines even further context.
PIM helps in providing total customer and supplier relationship solutions that allows tailored marketing. It allows one to do much more than updating product information on the web store. Engaging the customers with a brand needs execution of some creative strategies. For example, PIM allows one to compare and contrast products on the product listing. It gives recommendations for products with similar attributes based on the customers search. This gives the buyer an opportunity for upselling and cross selling. It allows sorting products by attributes price, popularity, color, size etc. One can also allow customers to take survey to pick their ideal product. This helps create an interactive and unique web experience for each customer
An organization must evaluate its assortment complexity based on the SKU count. The SKU count must include the basic SKU count along with the churn or the change percentage to the assortment. The assortment also includes SKU attributes, unstructured data such as images, supplier information, availability etc. PIM is adept in simplifying all the work involved in the maintenance of complex assortments.
A PIM investment decision must also consider the organization complexity. The number of processes increase with geographical diversity or adding of new selling channels. Omni-channel selling demands that there is consistency in the content across all channels. Increase in customer touchpoints increases the complexity of the consumption channels and the IT environment involved. Thus it becomes more likely that one requires a PIM solution for successful business transactions.
Schedule a live demo to discover what Questudio’s PIM software can do for your business.