When it comes to the increasingly complex world of ecommerce, managing product information efficiently is not just a necessity but a strategic advantage. This is where a Product Information Management (PIM) system becomes a huge asset to merchants looking to centralize their data, and make it accessible to all the systems and people who need it.
When you decide it is time to leverage a PIM for your ecommerce business, here are the core features to look for when choosing the right PIM for your company and how implementing a PIM can benefit you.
Core PIM Functionality
At its core, a PIM provides functionalities such as data collection, management, enrichment, and catalog creation. It allows for the easy import and export of data, ensures data quality, and enables efficient collaboration among team members. A PIM system reduces inconsistencies and improves overall data accuracy by centralizing data.
Here’s a breakdown of the most essential PIM features to look for when choosing one for your retail or ecommerce store.
1. Product Data Management and Centralized Database for Product Information
The basis of any product information management system is its ability to store and control all your essential product data. As a centralized database, it also acts as a single source of truth for all of your product information across all your distribution channels, online store(s), and other ecommerce platforms and software solutions.
PIMs can keep track of complex associations between all your products and any variants they may have. With a PIM system, you can set up category trees within your catalog and tie them together with various channels – such as print, website, ecommerce, etc. for a highly adaptable, holistic view of all your data and assets.
Additionally, a PIM offers data consolidation, modification, and history tracking capabilities, aggregating product information from multiple sources, keeping it updated, and viewing all edit history.
2. AI and Automation
With advancements in AI happening faster than we can publish articles about them, any reputable PIM system should have AI-powered features to help users complete the most tedious and time-consuming tasks faster than they could manually.
Be on the lookout for tools that can leverage AI to automate many of the data management/onboarding processes, like Akeneo’s Supplier Data Manager, which automates many of the more complex and error-prone parts of the process.
Additionally, with the rise of generative AI/large language models (LLMs), there are many opportunities for PIMs to sprinkle the technology across their feature sets. At this point, AI-powered translation/localization and copywriting should be something to look out for when selecting a PIM, as LLMs can save significant effort in describing images and writing content in a consistent and unique tone unique to your brand based on data found in other attributes.
AI is here to stay and will only get better over time. Make sure to choose a PIM that understands the value of using it to make your job easier.
3. Collaboration and User Management
Your PIM acts as a central hub for all your data, meaning multiple users and departments will need to access, add, update, and review simultaneously throughout the workday. Because of this, your PIM needs to be a master at streamlining the process of managing product data.
Your PIM should have a robust set of options for workflow management, rule creation, user permissions, and approval processes so that you can ensure that everyone has the information they need to get the job done without stepping on anyone else’s toes.
For example, our PIM of choice, Akeneo, recently launched a feature enabling teams to have real-time visibility on content changes happening in the PIM so that coworkers can collaborate on tasks as well as avoid any conflicts with other employees working on the same products/workflows.
4. External System Synchronization
Multichannel data syndication, or the ability to distribute product information across various platforms and channels, should be high up on your list of required PIM features. A good PIM solution acts as a central point between your other tools like your ERP, CRM, suppliers, apps, points of sale, etc.
Your PIM tool must be capable of integrating with anything and everything you need it to. Basically, if your PIM doesn’t connect to the rest of your tech stack, you’ll miss out on one of the most important benefits of integrating with one.
That said, we understand that businesses don’t always pick a tech stack and stick with it forever. We recommend that when you’re shopping for a PIM, choose one that already has a long list of supported apps and integrations so you’ll be able to stick with it through any tech-related changes at your company.
5. Translation and Localization
If you’re considering a PIM solution, chances are you’re either in the process of growing your business or planning to do so in the future. Depending on your location and products, expanding to other markets or serving other demographics might be on your plans.
When choosing a PIM platform, assess its ability to handle product descriptions and attributes in different languages and for different markets. Consider how your product information is translated across languages and countries and how users in your PIM will manage these translations.
The Benefits of a PIM System
Investing in a PIM benefits many different aspects of your ecommerce business, from improving your customers' product experiences (PX) – turning browsers into repeat customers – to increasing conversion rates when shoppers use PIM data to make purchase decisions.
Improved Product Data Quality and Multi-Channel Consistency
Consistent and accurate product information across all channels (eg, sales and marketing). Updating product information is easier and reduces customer returns due to outdated or incorrect product descriptions.
PIM implementation also allows merchants to standardize their product information, ensuring consistency wherever it needs to appear.
Efficiency in Data Management and Accelerated Time-To-Market
Expediting the process of managing product information saves time and reduces errors. Efficient data management equates directly with how quickly you can implement new product launches and get everything out to market.
This streamlined data handling lets your business seize new opportunities to open sales channels or take advantage of trends much faster. You can also enjoy managing product variants more quickly than the usual tedious, repetitive manual management that you might be used to.
Digital Asset Management (DAM) and Integration with Other Systems
PIM software can handle much more than your product descriptions and attributes. They also act as digital asset management platforms for their users, which can help companies manage various digital assets like images, videos, podcasts, music files, etc. This functionality keeps your assets consistent throughout your other systems, which, as we mentioned earlier, all integrate seamlessly into your PIM.
Since PIM systems are often API-driven, the list of other tools you can connect to your PIM is almost endless. Integrate your databases, CRM, ERP, product catalogs, tracking/logistics systems, and more for an all-in-one solution that carries over to every corner of your company.
Conclusion
By investing in a PIM system that offers the above features, businesses can significantly reduce time to market, enhance data quality, and create a more cohesive and efficient digital asset management strategy.
Ultimately, a well-implemented PIM system simplifies internal processes and lays the foundation for a superior product experience, turning casual browsers into loyal customers and boosting overall business growth.
At Blue Badger, we recommend Akeneo as our PIM of choice. As a certified Akeneo Solutions Partner, we offer everything you need to get started with implementing a PIM solution into your business. From mapping & configuration to making your upstream & downstream connections, we’d be happy to find and implement the right PIM configuration for you.
Additionally, we offer services like the design and development of custom themes and apps, strategy, conversion rate optimization, performance marketing, and more. Let us help you build an ecommerce ecosystem that you can rely on. Get in touch with us today to learn more.
