25 Apr 2019
Did you know that product information management (PIM) and customer experience (CX) are directly related? If you didn’t you aren’t alone. Many businesses implement a PIM solution for various different reasons. Typically improving CX isn’t at the top of the list. But it should be.
According to a recent Oracle study, 74% of senior executives believe that customer experience impacts customer loyalty and advocacy.
Below are our top 5 tips on how leveraging the right PIM solution can lead to improved CX:
Keep your business’s data accurate and consistent across all your channels:
Customers are armed with more product information than ever before. When a customer heads to your site directly they are on a mission to buy. They want to know the measurements, sizes, material, color schemes the products come in, where they are available, how quickly they can expect to receive them, etc. The more information you can equip them with the better the chances are for your business that they will make that purchase.
Bonus: The great thing about PIM solutions is that they support omnichannel strategies. Update your product data in one place and it updates on every channel your business has a presence on. Talk about a win-win solution for the buyer and the seller.
Improved data leads to improved service:
Having all the data housed in one centralized place allows teams to work seamlessly across different divisions and locations. Whether it’s sales, marketing, or customer service providing them with relevant and the most up-to-date information across the entire organization is paramount. The consumer knows what it wants and expects information to be readily available to them. If the retailer doesn’t have their size in the certain color shirt they want the retailer should be able to quickly access their system to provide an alternative to the consumer. Whether it’s sending them to another store location or ordering it for them right on the spot. Having the right PIM in place removes obstacles in the buyer journey and leads the buyer further down the sales funnel.
Experience faster times to market:
Music to any marketers ears. A goal of any e-commerce business is to be able to roll out new products quicker and more efficiently than others in the market. Being able to that anticipated new product in the hands of the consumer not only keeps them happy but also coming back. PIMs allow businesses to manage each product’s master record from start to finish. This allows companies to utilize one single repository that is maintained daily rather than building new product data from scratch which in turns allows you to roll out new or enhanced products quicker and with less effort.
Take advantage of having a better decision-making process:
Leverage your PIM solution for a more holistic view of your products. Know what hot items are flying off the shelf versus products that may have a longer shelf life and not be as in-demand with your clientele. Taking into account vast amounts of product data, sales metrics and inventory is a long, drawn-out process. PIM connects with different outlets and provides the end user with an easy to consume process so that you can expand and focus on important takeaways to aide in more informed business decisions.
Make the most of your time:
Having a good PIM in place isn’t the end all be all. It’s about the team that is putting that PIM to use. The right PIM will reduce latency and repetitiveness, increase productivity, eliminate manual tasks, streamline workflows and allow you to stop relying on old fashioned spreadsheets. Marketers don’t have to allocate hours in their days anymore to work through tedious tasks like updating Excel, with a PIM solution they can worry about creating an effective go-to-market plan, and keep tasks flowing amongst teams.
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 the bottom line. Having a solid product information management system in place keeps your business happy and your customers happy.
Watch the quick video to learn more about how to deliver a better CX and PIM here.