Most online shoppers decide whether to purchase your goods or abandon your store on your product page. Customers will get that far with compelling product...
Speedy new product launches
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:
- Quickly get new products to market with totally streamlined approval processes to gain vital extra selling days
- Create consistency across multiple channels to ensure you’re not causing customer frustration with incorrect data or confusing brand messaging
- Position yourself as the go-to eCommerce business where customers know they can find everything they need
Clearing old stock & selling at the right price
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:
- Determine when products should be pushed to discount sales channels (such as marketplaces) once stock levels reach a certain point
- Automatically apply different discount rates depending on stock levels so you can sell the optimal number of products at the best price
- Use scoping functionalities to ensure you meet the requirements of the clearance sales channels you’re publishing on
Product launch campaign examples: Footasylum
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.
Campaign management and planning that generates real results
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.
Key Points: PIM enables the best product launch campaigns
- PIM facilitates a smooth product launch campaign strategy by allowing you to store, manage, and enrich all product data elements from a central hub.
- Launching a new product requires careful planning. PIM’s storage capabilities mean you can get everything sorted well before launch day.
- Powerful automation means you only launch a product with its proper product information. Enable consistent messaging across all sales and marketing channels with PIM.
- Make way for new product launches by selling end-of-life stock to marketplaces at discounted prices. Pimberly’s scoping functionalities ensure you meet the requirements of marketplaces, such as Amazon or eBay.
- It’s likely within your target market, you’ll have a variety of buyer personas. PIM lets you personalize digital assets and product descriptions bespoke to your target audience.