How PIM Could Be Key for Great Omnichannel Experience
Managing customer-facing product information has become an important part of the customer experience in today’s multi-channel world. The way organizations are persifying their businesses on online, offline, e-commerce, and m-commerce platforms, a well-managed and consistent product information across all devices and platforms plays a key role to improve the omnichannel experience. And, this is where a product information management (PIM) system can help.
A PIM system helps organizations centralize information management related to their products and business services. It improves supply chain information efficiencies and makes the product information process easy from collection to consolidation and enrichment to distribution.
Moreover, it plays an important role for both sides of the organization: business side and customer side.
Business side:
Organizations deal with multiple product catalogs, different categories and hierarchies, intuitive product groupings, conflicting product definitions and names across various channels. When the inventory is split across so many channels and platforms on both online and in-store, it is very difficult to track exactly which stock is available, which one is not, or whether it is available for sale via all channels or not.
PIM’s central repository allows business representatives to access the most current, accurate and consistent information and ensures better collaboration across different departments. This keeps the product consistent and accurate and provides one version of truth that feeds all the channels simultaneously.
When organizations have a single repository of product information (such as product descriptions, SKUs, price details for different geographical locations, and more) then it can be easily accessible to internal departments (brand managers, marketing, and account managers) as well as external channel partners, distributors and resellers to drive business performance and revenue.
How PIM exactly helps businesses:
- Extends product catalogs and portfolios quickly and gets more products to more markets faster
- Smoothens the process of referencing new products, or changing their characteristics like price or availability in real time on all platforms
- Improves inventory accuracy, prevents out of stock situation and eliminates under or over ordering
- Extracts obsolete products easily and helps stay relevant and up to date with the customers’ latest demands
- Introduces a new platform for its customers quickly using the single, up-to-date repository of information rather than building new product data from the scratch
Customer side:
Customers are not restricted to one channel. They expect better experience no matter from which channel they are communicating. So, experiences are getting intermixed, engaging customers simultaneously across multiple channels. PIM solutions help organizations serve their product information to customers across perse platforms with greater accuracy and quality. And, a detailed and accurate product information is a differentiator when it comes to customer experience.
How PIM helps customers:
- Delivers clear, complete product information to fuel their decision-making
- Enables them to engage with brands across all touch points
- Quickly directs them to relevant product choices and options
- Increases satisfaction by giving consistent brand experience
When all these factors add up, they deliver more compelling omnichannel experience across all customer touch points, enabling organizations to meet customers’ needs and improve revenues.
So, organizations that are eager to leverage new channels for business expansion, or those that are trying to embrace an emotional approach to improve customer experience, will need a solid foundation of product information management system to support their initiatives. It’s something, they must not ignore.
If you are seeking a solution around PIM for your retail brand, then Pimcore can help you with it. Drop us a line at us@pimcore.com.
This article was originally published here.