PIM Solutions Increase Your Sales In More Ways Than You Think
Implementing PIM: Everybody wants to hug the baby, nobody wants to change the diapers
While most people will see the value of a fully functional PIM, supporting its birth and development is often regarded as unthankful or even unnecessary extra work. That makes PIM the late-born child that not everybody wants to take under his wings to grow and mature. In this whitepaper we will take this analogue further to explore the role of PIM as the Benjamin in your organization. To create one happy family it’s not PIM that needs to be changed: it’s the organization itself.
However, this does not mean that the challenge is insurmountable. Thanks to our many years of experience, we can guide you through the process to ensure that you experience the bare minimum of inconveniences.
PIM and Customer Relationships
To begin with, you need to be able to identify your most valuable customer information across your diferent systems. That means connecting all the valuable data that lives in many systems (say, your CRM, your marketing automation and customer service applications) into a central location.
PIM can reduce costs
Excessively high return rates are always a big cost factor for manufacturers and retailers and directly influence their operating results. For this reason, it is important to minimize this to the greatest extent possible. The accuracy of your product data is vital in the effort to minimize the return rate and prevent dissatisfaction in advance. This way, you can reduce costs and improve your customer experience. That's two quick wins that are essential for every business.
PIM makes you faster
According to the Informatica Study, large retailers and manufacturers who have a focus on multichannel distribution stated that they use up to 10 systems containing product and master data. The reduction in the number of systems would increase the performance and maintenance of data management while reducing costs. This is reflected in shorter processing time for an item or faster updating in eCommerce. Therefore, the time saved shows a direct correlation to sales.