5 Signs Your Business Needs A PIM

Rich product data is key to eCommerce success. Informative product data removes uncertainty and helps consumers make informed buying decisions. Giving your customers confidence will contribute to more sales. As your business grows it’s important to consider how you manage your product data.

You might be managing your data in Excel or an ERP system. But to really harness the awesome potential of your products, you need software that’s designed to manage product data. This is where Product Information Management (PIM) shines.

Ready to take your eCommerce strategy to the next level? Here are five crucial signs that indicate you need a PIM solution:

1. You’re managing thousands of SKUs

Managing thousands of product SKUs can be time-consuming. Each SKU comes with its own unique data, which covers everything from pricing and style to product size, color, and material. As a result, you’ll be dealing with hundreds of data points for a single product!

Keeping track of all this information manually is a huge task and it’s easy for data to be lost.

PIM removes the pressure of managing a high volume of SKUs. Firstly, it provides a single source of truth for your product data. Secondly, it’s easy to track and organize all the information, ensuring consistency and accuracy.

2. You want to create exceptional shopping experiences for your customers

Rich product content is at the heart of the customer experience. Detailed product descriptions, high-quality images, and accurate measurements contribute to a memorable shopping experience. In other words, you can help your customers make a purchase they will love!

PIM gives users the power to create unique product descriptions that appeal to consumer emotions and needs.

Moreover, you can incorporate digital assets with Digital Asset Management (DAM). Overall, digital assets create an immersive buying experience by enhancing the look and feel of your products.

3. You’re actively selling through more than one channel

Growing your business means expanding the channels that you’re selling products through. This could mean expanding into mobile, which has become one of the most popular eCommerce channels on the planet. Online shopping on mobile devices is set to account for 45% of the US eCommerce market by 2024. Furthermore, there’s been a huge surge in retail app downloads with 67% of consumers using them to make purchases. 

Selling through multiple channels is a great way of accessing new customers and increasing sales in different marketplaces. PIM provides essential value through easy channel creation. So, whether you want to sell products on Amazon or eBay, managing and setting up multiple channels is simple.

Different channels and marketplaces have different product data requirements, and different customer bases so you have to cater to different customer expectations. Tailoring your data for these channels is easy when you have a central database to manage product information.

4. You’re ready to expand on a global scale

International eCommerce is a key growth opportunity for businesses that want to expand into new countries. In 2022, over 55% of sales will take place online in China, which places it as a big new player in the eCommerce market. As such, this highlights a huge sales potential for brands looking to grow cross-border.

All in all, successful international eCommerce involves understanding the language and buying preferences of consumers in different territories. Therefore, adapting product data to meet these needs with localization is crucial for internationalizing your eCommerce business.

PIM software makes it easy to store and manage your product catalog for multiple locales. Furthermore, it enables you to meet the product data regulations of different countries with consistent information like sizing and material.

5. You want to drastically reduce product return rates

Product returns are a common eCommerce challenge that cost eCommerce businesses $550 billion in the US alone. 47% of people return products because the item didn’t meet their expectations.

Another common reason is inaccurate information. Approximately 22% of returns are made because a product doesn’t look the same as it did online. 

However, you can use PIM software to gain clear visibility of your product data and see every stage of a product’s lifecycle. Provide the right amount of detail for a product so consumers have everything they need to make informed purchases.

Similarly, digital assets are also key here: images, videos, size charts, etc. They give the customer a more comprehensive look at what they’re buying. Overall, integrated DAM functionality alongside PIM systems makes it easy to find relevant imagery to incorporate into your product pages.

Putting the focus on your product data

If any of these signs sound familiar, then you’re ready to implement a PIM solution. With the eCommerce industry continuously growing, product data is going to become more important. So, focus on your product information to increase revenue, build relationships with new consumers and transform your eCommerce strategy.

Discover the benefits of Pimberly

As the world’s most powerful PIM platform, Pimberly will totally transform the way you manage your product data. Create immersive and powerful buying experiences to increase your online sales. Optimize your products for search engines and improve how they rank.

Online activity is on the rise, so get your products in front of the right people at the right time. Start your PIM journey with Pimberly and step up your eCommerce game!