PIM for Reseller – How Product Information Management Helps Resellers to Scale the Business?
With the changing time, the conventional ways of running the business get updated with the modern approaches and technologies.
Product Information Management (PIM) is one of such technologies that have helped product-driven businesses to adopt digital transformation seamlessly.
Earlier, the product data were managed manually on paper. With the invention of computers, it has become digital. Still, with such old-school storage, it becomes challenging to run the business.
PIM for resellers not only manages the product data centrally but also streamlines various business processes, reaches a large target audience, boosts customer engagement, improves the conversion rate, and increases the ROI.
Role of resellers in retail
Resellers are usually less connected with manufacturers as they mostly buy products from distributors. They are closely connected with wholesalers or retailers or end-users. They purchase products from manufacturers or distributors and sell to their target audience.
Resellers do not prefer to keep an inventory of the products. Also, they do not provide after-sales service. Manufacturers with renowned profits are quite interested in establishing a strong relationship with resellers as they focus on generating a better profit than developing a market for the products.
How PIM for resellers transforms eCommerce?
When it comes to Product Information Management, it is a common myth that only large-scale organizations can afford it. Well, it’s not true.
Also, manufacturers or distributors compare PIM with ERP systems and inventory management systems. But, it offers much more than these systems. Management of product data centrally and effectively is the primary need of any product-driven business regardless of size. Especially for resellers.
As a reseller, you might not need to manage the inventory and stock details. However, effective and structured management of product information and relevant media assets are quite essential to run your business seamlessly.
You can manage these data in excel sheets, ERP, Google Drive, Dropbox, etc. However, your data will be scattered. Why manage the critical product data in different files, folders, and software when you can manage them in a single location in an open-source product information management platform.
Considering PIM, you cannot only manage the product data effectively but also centralize all your product content and empower marketing efforts.
Why resellers should consider Product Information Management (PIM)?
Centralized data benefits everyone
Have you ever had the best data management experience? Probably not. I completely understand the reason that you do not need to keep thousands of products in stock like distributors. But, I am sure you must have your own inventory to manage.
For example; you have to manage and store product title, description, SKUs, technical specifications, prices, marketing data, manuals, images, and so on in a platform. Like your business, your product list will also grow. By considering the PIM for product data management invite the challenges like
- Scatter product data that are spread across clunky spreadsheets
- Spending hours on manual data entries
- Difficulties in tracking the product content if the data is scattered at various places
- A wrong product data entry results in costly errors
- Limits your business opportunities as you cannot scale your product content
- Sharing product information externally becomes challenging
When your product information is scattered across the different systems, finding and sharing relevant data becomes a nightmare. Implementation of Product Information Management, you can simplify the management of complex product data. It saves time for your resources by eliminating manual data entry. Eventually, it enables you with the benefits of reduced errors and improved time to market.
Track your product performance
Many PIM platforms are integrated with different analytics tools with Google Analytics. Integration of analytics tools allows sellers to have experience of how to manage the product centralized and single source of truth for data.
Analytics tools help you to analyze the performance of your product and optimize your content in the PIM platform to make it more relevant to the consumers. It enables you with valuable insights such as
- How many users have visited your online solution?
- Which products are highly searched?
- Which products are getting maximum customer engagement?
- What are the highest selling products?
- How many times have the products been added or checked out?
It also helps you to check and compare the product’s performance across different channels. It enables you with insight into where your products tend to sell the most.
Considering PIM for resellers that have integration of advanced analytics tools, resellers can track individual products in which the consumers are interested. It allows the resellers to make a strategic decision whether they should stop selling specific products, manage the products to a broader customer base, or find a relevant solution.
Successful Integration of multiple output channels
To expand the business across the wider target audience, businesses consider all the possible ways. One of the most potent approaches is to reach your target audience through different customer touchpoints and output channels.
Today’s tech-savvy customers perform a detailed search before buying a product. They move from physical store to webshop to mobile app to marketplace to social eCommerce within a few minutes. Thus, the competition raised to the next level for the sellers. They utilize all the platforms to grab customer attention, increase customer engagement and improve conversion rate.
Product Information Management platform allows you to sell your products on different channels and improve ranking on the search engines so that your target audience can easily find you. To win the online competition, you need to optimize the product content by considering the targeted keywords, relevant languages, and focus on product listing optimization. It ensures you meet all your marketing needs.
With an advanced PIM, you can enrich your product content and distribute it on the sales channels. Through this strategic process, you can tweak the content and meet the specific requirements of your targeted marketplace. By allowing you to store the channel-specific information, PIM simplifies the integrations of marketplace channels.
Enhanced customer satisfaction
Resellers need to produce complete and accurate product data to the customers to help them make a well-informed buying decision. It improves customer experience and satisfaction. It reduces product return. However, most of the resellers do not have an idea about which solution helps them to manage the product information correctly and effectively.
Considering the right product information management platforms, you can leverage product experience management. It allows resellers to deliver a long-lasting customer experience by establishing satisfying interactions across the different channels.
With a good PIM, resellers can push relevant, updated, and consistent product information on the online platform. Enabling potential buyers with enriched product data, you can enhance their shopping experience.
Additionally, PIM empowers your omnichannel strategy and optimizes your product data for all the different channels. It helps you improve product impressions as per the customer expectations and makes sure it improves the customer experience. So, implementing Product Information Management, helps you increase your customer base and boost your revenue stream.
PIM is one of the most essential tools to streamline your digital strategies and leverage digital transformation effectively. These days customers’ buying behavior of the consumers is changed frequently. PIM helps you to distribute the product information in an engaging way that drives sales and increases conversion.
Deal with your everyday product-related challenges with Product Information Management. Moreover, it helps you improve time-to-market, deliver the data your consumer seeks faster and save resources on internal processes.
Improve compliance, consistency, and quality
If you are managing your product data in different files and folders, Product Information Management is the most essential platform for you. It manages your product data in the silo that is scattered across multiple channels. When your data is scattered, your interactions with customers become difficult. In the digital environment, customer interactions are very important for your business.
Rules, regulations, and legal requirements keep changing over a period of time that creates compliance issues. Eventually, it creates conflicts between you and your customers. Implementation of PIM helps resellers to leverage data compliance and integrity. Moreover, it ensures more accurate and rich product information to the client.
PIM works as a single source of truth where you can create and maintain your product data. It helps you fill the gap between multiple marketing touchpoints and channels.
Share your product content seamlessly
Having a Product Information Management platform is a game-changer business strategy. It allows resellers to share the product list for restocking to a wholesaler, distributors, or manufacturer. As all the product data is available in a single place, data sharing becomes simplified.
It allows access to the relevant data without doing beak and forth with excel sheets. Containing product cataloging capabilities, PIM allows you to create a product catalog instantly.
Sometimes you need to respond to customers’ queries about a product range or you want to check what you have in stock, you need to create and share the custom product catalog with your customers in real-time.
PIM enables you with automated product catalog creation. Your sales team can create the product catalog instantly on customers’ demands and share a quotation immediately. By offering the product catalog, you can build a strong relationship with your target audience and improve the customer experience.
Harnessing the potential of Product Information Management, you can create personalized catalogs online to address the needs of your customers. Moreover, PIM for resellers allows you to create and market the products through your own marketing and branding messaging.
With the help of PIM, you can create a long-lasting impression on customers. Due to the personalized treatment, they can connect with your brands and feel familiar with you.
Customized catalogs provide you with a way to market your products to a varied audience. You can share this product information with retailers and your internal teams as and when needed.
Increase sales and boost ROI
To drive customer engagement, it is essential to deliver consistent experiences across the different channels such as in-store, social media, websites, marketplaces, and more. If you achieve this, you will be able to convert your consumers into brand advocates who support your brand messaging and promote your products in their circles. These loyal customers help you to boost your sales.
Implementation of PIM allows resellers to manage all the product information, inventory updates, and pricing updates in a centralized location and distribute them across different customer touchpoints. Eventually, it helps in generating a better ROI. It helps you win the customers’’ trust by enabling them with a consistent experience across multiple channels.
Enriched product information helps you to win the customers’ trust. PIM also allows you to optimize the processes for producing contextualized product information for specific locations and channels.
Additionally, PIM helps you to create personalized interactions and experiences with customers for your brands and products.
Addressing omnichannel challenges
PIM makes it easier for resellers to distribute the product data across the internal users and push the product information across different output channels. To deliver the omnichannel experiences, you might face a few challenges, and where Product Information Management will help you to overcome those challenges.
- Fasten online product release
- Maintain data consistency
- Create and manage all sizes of the product catalogs and distribute them across all channels
- Simplify OMS and ERP maintenance
- Scale internationally to create and deliver better shopping experiences
- Optimize inventory updates across sales channels and storefront
Considering PIM, you can automate various manual processes for product information management and allow your team to focus on what they do best in your different business areas.
In the nutshell
Resellers can streamline and automate their complex product data and product information management process by implementing a tailored Product Information Management platform.
Credencys has a team of experts who have successfully developed and delivered the PIM solutions to the different brands as per their specific business needs. We utilize the potential of the Pimcore platform to build a robust Product Information Management solution.
If you are dealing with product data management-related challenges, then connect with our PIM experts. They will address your challenges and predict personalized consultation for your specific concerns.