In a highly competitive B2B e-commerce environment, the business case for PIM makes itself. Business buyers expect the same personalized, frictionless path to purchase that consumers demand. Brands are tasked with knowing what their customers need at every touchpoint and merchandising product content in a way that meets those needs throughout the entire path to purchase.
Adaptive merchandising™ depends on successfully leveraging product information to help buyers make informed purchase decisions, yet 74% of businesses struggle to manage their product data. Without the right technology in place, your business cannot create the customer-centric experiences and personalized recommendations that are the backbone of modern omnichannel commerce.
Core capabilities for today’s operations
PIM bridges the gaps in the standard e-commerce technology stack, giving teams a centralized hub to manage and monetize product content. It’s imperative that a solution seamlessly fit into the existing technology stack, and ideally, is SaaS-based to ensure continuous releases without downtime or additional configurations.
The business benefits are almost immediate and measurable when this is done correctly. Uniting product details with customer connections throughout the entire journey is essential to drive revenue today.
Manual product information processes are time-consuming and ripe for human error. Research shows that 90% of organizations using spreadsheets to manage product information have errors in their product data. This causes a poor customer experience, increased returns, and negatively impacts revenue.
Not only that, manual edits and updates take up inordinate amounts of staff time and delays the onboarding of new products. Over 40% of businesses that implement PIM do so to increase operational efficiency and decrease errors.
PIM automates product data processes, eliminating errors, and inefficiencies. Your team can collect, edit, enrich, distribute, and syndicate consistent product content quickly and easily. A single source of product information streamlines efficiency for marketing and product teams, making it simple to identify gaps in content and encourages collaboration between teams.
Fueling tomorrow’s growth
Accenture predicts that roughly 45% of online shoppers will purchase internationally in 2020. inRiver’s B2B survey data bears this out—brands face increasing competition both at home and around the globe:
● 51% of companies globally are operating in 6-10 markets; 32% are operating in more than 10
● 45% of all companies face 10-15 competitors, with 30% of companies going up against more than 15 competitors
● 71% of companies are facing more competitors than 5 years ago, and 62% of respondents cite competition from global players as the reason why
To stay relevant, brands must be able to rapidly expand product offerings, efficiently enter new channels and markets and launch new products. In other words, the solution you buy today must be agile enough to scale and grow your business tomorrow.
Best-in-class PIM solutions integrate with your other business systems and third-party apps to offer a flexible solution designed for agile growth. For example, brands entering global markets need translation and localization services to create a seamless customer experience. PIM helps you capitalize on time-sensitive opportunities by quickly entering new markets.
When you’re ready to expand your SKU count to meet the changing needs of your customers, PIM takes the hassle out of organizing and updating your product information so you can present new products at the right time and in channel-specific formats quickly and easily.
Growing your business means an added emphasis on order fulfillment. Combining PIM with a plug-and-play omnichannel order and inventory management solution helps you synchronize your product stories with efficient order fulfillment by reconciling order and inventory information to avoid delivery delays. It’s the way modern commerce needs to run to meet buyer and market demand efficiently.
Ultimately, a growth-oriented business must move beyond core functionality to technology solutions that will scale and grow with them—without the need for costly and inefficient one-off integrations. The inRiver platform is the only PIM solution on the AppExchange and is built to scale to meet the demands of modern commerce.
Watch the fast-take video to get the scoop on why inRiver for Salesforce Commerce B2B is a critical component of your technology stack today and tomorrow. Unifying customer experiences across all touchpoints of commerce from web, to social, to mobile, and in-store isn’t a nice to have today, it’s essential.