Top 10 benefits of PIM
integration for eCommerce retailers in 2023
SKU proliferation, i.e., the number of online products managed by businesses, is increasing rapidly.
At the same time, the amount of information is increasing exponentially due to various factors like more educated customers, search engine optimization, and even compliance.
Hence, maintaining spreadsheets for product data is no longer viable- using a Product Information Management (PIM) solution is a must.
In this article, the experts at i95Dev will walk you through the top ten benefits of PIM solution integration for online retailers that will help them thrive in 2023 and beyond.
What is a Product Information Management (PIM) solution wrt eCommerce?
Product Information Management (PIM) is a business tool that enables businesses to centrally organize and manage product-related data.
It contains product descriptions, images, technical specifications, FAQs, availability data, and pricing information, among other important data types.
A PIM solution allows users to import, export, and modify product data while integrating it into other software like eCommerce platforms and CMS (content management systems).
PIM tools also allow you to create and manage product hierarchies, categories and attributes to simplify information management to a huge extent.
On top of that, these tools also help push the content to various channels, thereby eliminating work duplication during the publishing phase.
Top 10 advantages of PIM integration for retail eCommerce companies
1 Greater scalability
PIM systems make it convenient to build, manage, and modify large, diverse product catalogs while also simplifying new product launches.
Since the product information is reflected instantly across platforms and channels, users can benefit from unmatched scalability via integrations.
2 Improved sales and marketing
PIM tools make it possible for sales and marketing teams to create product descriptions, select the right images, and embed other data on the go without compromising its accuracy.
Since all platforms and channels require different sets and quantities of information, having it siloed in a PIM increases the efficiency of sales and marketing operations to a great extent.
3. Better customer experience
For customers, PIM translates to a better customer experience (CX) since they can easily access relevant and accurate information about the product they want to buy.
Eight in ten (81%) consumers perform product research online to learn more about a product before making a purchase.
Up-to-date and consistent product information across the internet will boost their trust as it improves the business’ credibility.
4. Enhanced data hygiene and visibility
Since manual data entry is eliminated to a huge extent, it is natural that data hygiene will improve drastically.
ting work duplication will also add to the data integrity as the PIM tool will serve as the single source of truth for all other software, including the eCommerce platform and inventory control software.
5. Improved efficiency of operations
When internal operations are considered, having a master database as a product information management system improves overall efficiency.
From warehouse management to pricing optimization, consistent, accurate data availability helps automate decisions and enables the free flow of data across software solutions.
6. Supports multichannel and omnichannel marketing, sales
Product data inconsistency and improper presentation are among the biggest bottlenecks for eCommerce retailers when approaching multichannel and omnichannel marketing
PIM systems automate many marketing tasks associated with managing product data, including data entry, mapping, and enrichment, which can save time and reduce errors when working with multiple channels/platforms.
7. Increased business agility
Online retailers can use PIM systems to quickly update product information across all channels and platforms, including the customer self-service portals centrally, making it a great asset for business agility.
This not only helps them be responsive to any errors or malfunctions but also provides a competitive edge in the case of marketing-oriented activities.
8. Better collaboration among stakeholders
Since all product information is stored centrally on a PIM system, all stakeholders can access and manage it from a single location.
User-level access ensures that the stakeholders view and manage the data as per their assigned roles while significantly reducing the risk of errors.
9. Improved search engine visibility
A PIM tool makes it easy for online retailers to display the right information in a structured manner, thereby increasing search engine visibility.
Also, it will help keep the eCommerce website updated which is an important aspect since Google will a href=”https://searchengineland.com/google-may-suspend-merchant-sites-that-show-invalid-product-availability-349830″ target=”_blank” rel=”noopener”>penalize websites that misrepresent product availability data.
10. Enhanced product data security
A PIM tool provides an additional layer of enterprise-grade data security while user-level access and centralization supplement the overall product data security.
Automation also plays a pivotal role in enhancing data security as it removes the scope of human error.
Overall, a PIM solution can be a valuable tool for retail eCommerce businesses looking to improve the customer experience, increase efficiency, reduce errors, and enhance their product search function, which can lead to increased sales and revenue enhance their marketing and sales efforts.
PIM solutions deliver exceptional value to eCommerce retailers, as any discrepancy in product data can lead to a big dent in the profitability and customer experience.
Especially companies with a large and diverse product catalogue require a PIM tool to support internal operations such as inventory management and order fulfilment.
At the same time, it helps them streamline activities like keeping the company’s eCommerce store updated, synchronizing the information across mobile apps, marketplaces, and social selling channels, and enhancing customer servicing.
It reduces the risk of errors in information distribution while allowing the company to distribute accurate and consistent product information through a single window, thereby cutting costs.
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How to improve your B2B eCommerce business model and bottom line?
If you are looking forward to implementing a Product Information Management (PIM) tool for your retail eCommerce business, feel free to get in touch with i95Dev.
Our subject matter experts will develop a customized action plan, help you select the best PIM solution for your requirements, and successfully integrate it with your eCommerce platform.