Product Information Management
- Meet customer demands for complete, customized product data
- Increase sales with accurate, synchronized product content
- Enhance distribution channels with effective product marketing copy
As product data and descriptions are increasingly used by trading partners and distributors to connect directly with consumers, the need for product data specifications and consistent product content has grown dramatically. Product Information Management (PIM) is a combination of processes and technologies designed to manage product information, ranging from technical specifications to selling points.
The focus of Product Information Management remains on providing the requisite information to sell products through multiple, potentially disparate, distribution channels. With customer initiatives to fully leverage online shops and electronic catalogs continuing to advance rapidly, PIM has become increasingly important and, executed properly, can serve to provide a single source of accurate, updated information that can be utilized by eCommerce websites, print catalogs, data feeds and trading partners. The end result is a more defined, accurate flow of data between manufacturers and customers, resulting in fewer inefficiencies, decreased costs and increased sales.
Poor product marketing copy and improperly synchronized product data between manufacturers and customers costs trading partners over 1.5 percent in sales annually.
Leverage & Nurture Customer Relationships
Connecting properly with distribution partners via accurate, detailed product content and well-crafted product marketing copy increases sales, bolsters customer relationships and can also help in avoiding these common data-related problems:
- Inconsistent Product Descriptions
- Bland Selling Points
- Lost Sales
- Excess Inventory
- Manual Reconciliations
- Invoice Payment Deductions
- Higher Return Rates
- New Product Launch Delays
- Extended Billing
- Reliance on Human Data Entry