Top 12 eCommerce Website Features
Functionality, design, and distinctive eCommerce platform features are crucial for eCommerce websites. It’s important to consider which eCommerce platforms are most likely to help you...
Puiblished: Oct 26, 2023 Updated: Oct 26, 2023
Whether you want to build awareness around a new product launch on social media or clear the maximum amount of products at the optimal prices on marketplaces, Product Information Management (PIM) software will help. Any revenue generation campaign requires a considerable amount of planning and extensive management.
From fixing campaign goals to defining the marketing strategy, multiple departments must collaborate to ensure you generate the best possible results. Managing an effective product launch campaign is tricky if the right technologies aren’t in place.
PIM will help you perfect your product campaign planning and management. It is a central hub where you can effectively store, manage, enrich, and distribute all the creative assets needed to market and sell products online.
Additionally, PIM facilitates the best new product launch campaigns because all teams will have access to everything they need as it’s all in one place. Massive storage capabilities enable you to lock n’ load all your campaign assets well ahead of time.
Let’s break it down and look at how PIM will help you nail your product campaign planning and management.
For a round-up of the blog’s key points, click here.
Marketing campaigns for new product launches account for up to 25% of a company’s revenue and will massively strengthen customer retention.
However, 79% of products aren’t launched on time because the required product information and digital assets are stored in disparate systems. The solution? Store everything in one place so it’s ready to launch quickly and gain vital extra selling days.
Having this oasis of product data essentially means you can:
Businesses can pay up to 30% more than the stock’s value simply in carrying costs alone. So, clearing old inventory is high on the list of priorities. However, selling EOL or dead stock can be tricky. Sometimes, lower prices can have a detrimental impact on your brand image.
As such, clearing old stock is often done through marketplaces to mitigate this. The good news is setting this up within your PIM is super quick and easy.
Now, the wonders of PIM don’t just stop there. Powerful automation, with lifecycle stages and workflows, gives you the ability to:
Product launch campaigns vary from retailer to retailer. However, we like this example from Pimberly customer Footasylum. ‘The Lowdown’ is Footasylum’s blog, where they post product and style inspiration, building anticipation for product launches and case studies promoting brand awareness.
Footasylum combines insightful product stories (written in the style of their target market!) with high-quality product imagery. Clear call-to-actions link to their featured products.
Footasylum doesn’t just launch and list a new product on its website. Instead, take things a step further. Through ‘The Lowdown, ’ Footasylum creates quality product experiences, drawing attention to their products and demonstrating a passion for what they sell.
Generating great results from your campaigns will ultimately depend on the quality of the product experiences you provide. For instance, depending on your target audience, you may want to serve different segments with personalized digital assets and product descriptions. These could vary depending on the use case, age, gender, and ethnicity. PIM’s vast storage and scoping features enable you to do this easily.
Your PIM will also connect to any translation tools you use if you sell to multiple geographies. As such, you can tailor product descriptions and product data (price, sizing info, etc.) to the regions you sell to, guaranteeing great online experiences.