PIM Solution for an eCommerce Store in 2023 - All You Need to Know
Almost all businesses are now experiencing a digital transformation, young and talented entrepreneurs are very much eager to reap the benefits of eCommerce Store. Experts have predicted by the end of the year 2040 almost 95% of all purchases made by consumers around the globe would be done online.
So, to beat the growing competition and to stay ahead of competitors online entrepreneurs need to be focused on what they do and make sure they reap all benefits of using the latest systems.
Utilizing the PIM Solution for an online store is now the latest trend among entrepreneurs around the world. This article elaborates on things you need to know about having a PIM solution for an eCommerce store.
What is PIM?
Almost every young entrepreneur who is pretty much eager to take their business online, knows very well about what is PIM?
Well, A PIM (Product Information Management) is a system that makes things easier for business owners to manage their product data in a very organized structure. Business owners or entrepreneurs can collect, enrich, optimize, and manage their product or business data effectively using a PIM system.
Apart from that, PIM offers a centralized database and stores the data which plays a key role in the easy transmission of data between systems/departments. The single source of data location provided by product information management solutions ensures all business entities get quality and well-optimized product data in time.
To explore more about the different aspects and competencies of the Product Information Management platform, don’t miss to visit, What is PIM? – An Ultimate Guide for Product Information Management Services.
Let’s see how a PIM system can be handy for an online store in the upcoming section.
Why Consider a PIM Solution for an eCommerce Store?
As mentioned earlier, all businesses are moving towards digital. Utilizing the power of the PIM solution for eCommerce businesses will be handy to gain a competitive edge in the crowded virtual market. Take a look at why product information management is considered essential for eCommerce business these days.
1. PIM Helps Ecommerce To Achieve Its Business Goals
It doesn’t matter whether you run a retailing business or an eCommerce brand, having a PIM solution would be the best way to fulfill all the needs of an eCommerce business. The centralized data storage acts as a single source of truth (SSoT) and enhances the product data significantly.
Once your eCommerce business experiences enhanced and optimized product data it will play a major role in convincing the target audience to shop. This will lead toward more profit and business growth.
2. PIM Helps Owners To Analysis & Track Business Performance
Apart from resolving all the content-related issues, the product information solution helps eCommerce business owners to carry out various analytics and to take vital business decisions for business growth. By using the validation rules of a PIM system, eCommerce owners can standardize their data format according to the channels on which they intend to transmit data to end-users.
In addition, data governance and performance tracking become much easier with the help of PIM software.
3. PIM Automate Business Workflow & Enhances Productivity
The Automation capabilities of the PIM system speed up the business workflow by eliminating all those hassles of business operation across departments. Also, it facilitates strong collaboration among the departments and delivers quality and accurate product data across systems without any delay.
Automation eliminates all those time delays which happen during traditional data management or business operation, this allows employees to spend more time and focus on their production. This creates a huge positive impact on business productivity.
Importance of PIM solution for an eCommerce Store
In todays’ digital world, keeping up with the latest technological trends and staying ahead of the curve is essential to beat the competition. A PIM solution offers such an advantage to your business in the eCommerce world.
Let’s see the connectivity between the PIM system and the eCommerce platform below.
Establishes Centralized Database for Product Data
With PIM Solution, your eCommerce team doesn’t need to wait for a prolonged time to avail accurate and up-to-date product information. A PIM System collects, enriches, manages, and distributes product data from the single source to multiple systems.
Products Can Reach Markets Faster
PIM system brings automation into eCommerce business operation, saves a lot of time, and reduces a significant amount of human errors. Because of automation, employees can improve their productivity.
Also, PIM delivers essential product information to the ERP system and marketing teams well before the product production; this allows products to reach the marketplace much faster.
Improves Product Data Consistency & Quality
PIM system allows business owners to review and analyze product data at any time and ensures product information is accurate and up-to-date. With such accuracy and consistency, an eCommerce store can build a good reputation among potential consumers.
Helps To Create Effective Marketing Strategies
Since, ease the hassle of the quality data distribution to multiple channels, marketers wouldn’t find any difficulties in getting accurate up-to-date product information. Having quality and consistent product details is essential for marketers to create more effective marketing campaigns. PIM delivers exactly what marketers require.
Read Product Information Management- PIM eCommerce? [What, How, & Why] to explore why PIM and eCommerce are the perfect amalgamations for the success of your online business.
How Does PIM Work?
Having a good & reliable PIM system will be a relief for many eCommerce teams from the daily nightmare. Without any second thought, we can say PIM is an effective tool for managing and distributing data efficiently and consistently.
Let’s see how PIM works for an eCommerce Store!
1. PIM For Category Manager
Well, a category manager is an important person who guards products and handles all the orders related to products. He is the person who has the authority to communicate with entities and to establish sales.
Take a look at how PIM facilitates the work of category managers
- Reduces human errors while handling product data through automation.
- Enhances security and provides more control over their product data.
- Makes things easier for distributing product data among multiple channels.
2. PIM For Marketing Managers
Well, the role of a marketing manager is to reach the business presence among the target audience and to bring potential consumers with the best product experience towards business. In simple words, marketing managers play a huge role in driving visitors with buying intention towards business.
Take a look at how PIM facilitates the work of marketing managers
- Provides easy access to accurate and updated product information.
- Data analysis and data organizing become easier with product information management solutions.
- Quick data distribution.
To understand the importance of PIM for the eCommerce market, you must read Why eCommerce Marketers Should Consider Product Information Management?
3. PIM For IT Manager
The role of an IT manager in eCommerce is to make sure the business has the best and updated technological stack by providing hardcore data security. When it comes to business development in the eCommerce world, having the best technological solution is essential, so IT managers are considered as the business partners for modern eCommerce businesses.
Take a look at how PIM facilitates the work of IT managers
- Provides more control over the product data & increases data management capabilities.
- Provides enough scalability options for eCommerce stores to expand their business.
- Gives a hassle-free integration facility along with new modifications & functions.
4. PIM For Customer Service Agent
When it comes to running a business, the customer service department plays a vital role in offering a good customer experience to the consumers. Once a consumer starts trusting the product quality and experiences a good product they will surely visit back and purchase more in the future.
Well, to create such trust among consumers, a consumer service agent/specialist plays a huge role. They are the person who helps consumers to find reliable and the right products from the store according to their need.
Take a look at how PIM facilitates the work of customer service agent/specialist
- By providing reliable/accurate product information, it reduces consumer fault & complaints.
- Helps agents to respond to consumers’ queries more quickly & accurately.
- Providing easy access to optimized and up-to-date product information, PIM provides a platform where agents can find the information they seek more easily.
Are you interested in exploring who else in your organization can get benefits from a PIM solution? Don’t miss to read Product Information Management: The Ultimate Buyer’s Guide.
When An eCommerce Store Requires a PIM Solution?
Running an online store isn’t an easy thing to do, especially if it starts growing. It will be a sizable challenge to manage an eCommerce store in such a situation; this is where a product information management solution comes in handy.
This section briefs in what kind of situation a PIM tool can be a luxury tool for an eCommerce business.
When Webshop Handles Numerous SKUs
Product counts will grow eventually when an online store grows year by year. At that time, managing an eCommerce store isn’t going to be easy as it was during the beginning days.
Managing and monitoring such huge product SKUs requires more time which is not possible if you want to run a successful online business. In such a situation, implementing the PIM solution would be handy.
When Online Store Deals With Multiple Products With Same Features
There is no need to brief what problem a store manager would face if a store has more than one product with the same features. Handling and managing product details/information would be a tedious job.
Possibilities of error occurrences are high in such a scenario and it will cost a lot to fix those mistakes. In such a situation, having a PIM system would be more valuable. It enables owners to track all those changes and updates by introducing automation.
When Your Store Sells Products Via Multiple Channels
Utilizing the power of omnichannel is the new revolution in virtual business. Modern consumers are seeking more possible ways to shop their needy products from online stores. So, a store needs to manage more than online channels to attract more potential buyers to shop their products.
At the same time, managing all those channels with accurate product data would be a time-consuming and daunting task. In such a scenario, the PIM platform eases things for store owners by allowing multiple channel distribution from a single backend.
When Webshop Looks To Improve Customer Experience
Customer experience plays a major role in gaining a competitive edge in today’s market. With better customer experience web shops are able to attain a high reputation from their potential buyers.
PIM system offers a wide range of functions and features that will improve the store’s experience and shoppers will get a good shopping experience.
When eCommerce Site Requires SEO Optimization
Without any doubt, one can say SEO is the most sustainable and effective method to drive more traffic and sales. For better SEO strategies for an eCommerce website, content plays a huge role. So eventually, having a product information management solution would create a positive impact on SEO strategy.
What Benefits of PIM Solution for An eCommerce Store?
PIM offers a wide range of benefits to an eCommerce store; also PIM is an essential tool for modern businesses to deliver a better shopping experience to buyers. This section illustrates the vital benefits offered by the PIM solution to a webshop.
Supports Image Updates
For an eCommerce business, images are so critical. Product Images play a huge role in driving the attention of the viewers or buyers. Having an up-to-date and high-quality image is essential for a webshop to improve its sales conversion rate. PIM is an effective tool for taking visual commerce to the next level with easy and build updating features.
Provides Security To Product Content
Security to product content can avoid unauthorized editing which may lead to data inconsistency, poor data integrity, and low-quality data. These will have a negative impact on product sales. PIM system offers high security by enabling owners to provide usage or access or role-based rights to the users.
PIM solution offers the benefit of integrating with other systems for the eCommerce store. PIM software integrates easily with the ERP systems, customer relationship management system, and various eCommerce platforms & marketplaces. In addition, it supports API-driven integration by using which store owners can integrate with various essential systems.
Visit What Are the Benefits of PIM (Product Information Management) Systems? to explore the advantages of developing a PIM solution for an eCommerce store.
In recent years, eCommerce businesses are popping up all over the world, to sustain in the market and to beat the competition store owners need more awareness in the business niche. In addition, they need to be more creative in implementing innovative tools to grow their business. PIM is one such tool and plays a massive role in eCommerce success.