Unlock the value of product information

Proving the return on investment (ROI) of implementing a Product Information Management (PIM) system is essential for businesses looking to justify this strategic decision.

While traditional ROI calculations typically focus on direct financial returns, PIM systems offer both quantifiable financial benefits and significant qualitative improvements that collectively enhance overall business performance.

Why proving ROI for PIM matters

Organizations often face scrutiny when investing in technology solutions, as stakeholders require clear, demonstrable benefits. Proving the ROI of PIM systems can help businesses clearly outline potential gains, secure internal buy-in, and justify ongoing resource allocation. Beyond financial metrics, PIM systems can deliver notable improvements in reputation, customer satisfaction, internal alignment, and operational efficiencies—each critical to long-term business success.

Quantitative benefits of PIM

Reducing Abandoned Shopping Carts

67% of buyers have abandoned shopping carts due to poor product information. This alarming number underscores the necessity of high-quality, accurate product data. When product descriptions are clear, accurate, and comprehensive—enabled by a robust PIM—consumers are more likely to complete their purchases, directly influencing revenue.

Minimizing returns and associated costs

Another important stat to consider: 34% of buyers regularly return products due to incorrect product listings. Returns create additional costs, such as return shipping, restocking, or disposal fees, and negatively impact customer satisfaction and brand reputation. Effective PIM significantly reduces such incidents by ensuring accurate and consistent product listings across all channels.our customers, causing higher levels of complaints, bad reviews, and customer returns — not to mention fewer sales.

Qualitative measurements of PIM success

While financial metrics are essential, qualitative factors also substantially impact your business’s long-term health and growth.

Enhanced customer satisfaction

Improved product data directly correlates to enhanced customer satisfaction. Brands can measure this impact by tracking customer reviews, feedback, and engagement within their community forums before and after implementing PIM. Positive changes in customer sentiment and engagement indicate a direct benefit derived from better product information management. Brands like Teknos have reported that PIM solutions give their product experiences a distinctive “wow factor,” further enhancing brand appeal.

Improved product data quality

Consistent and high-quality product data across various channels is a clear indicator of successful PIM integration. Businesses should regularly audit their product information across all consumer touchpoints, measuring consistency and quality improvements after adopting PIM. A significant improvement in data consistency typically leads to fewer customer complaints, better search rankings, and increased customer confidence.

Strengthened internal alignment

Effective cross-departmental collaboration is another qualitative measure that businesses can leverage to demonstrate PIM’s value. By tracking metrics like decision-making speed, reduced revision cycles, and quicker product launches, organizations can tangibly show how PIM enhances internal processes. Faster and more efficient go-to-market strategies help businesses respond rapidly to market demands, stay competitive, and seize timely opportunities.

Streamlined reporting capabilities

With a PIM solution in place, organizations consolidate and centralize product data, significantly simplifying report generation. By reducing reliance on multiple fragmented systems, businesses lower the risk of data inaccuracies and reduce the time spent on generating reports. Streamlined reporting not only saves valuable employee hours but also allows teams to focus on strategic tasks rather than data management.

Building your business case for PIM

To effectively build a convincing business case for PIM, organizations must combine quantitative financial benefits and qualitative improvements. Here’s a structured approach to help stakeholders understand the value clearly:

• Define Clear Objectives: Identify and document specific business outcomes you expect from implementing a PIM solution.
• Gather Baseline Data: Collect data points related to cart abandonment rates, return rates, customer feedback, and operational efficiencies before PIM implementation.
• Monitor Post-Implementation Changes: After deploying PIM, regularly review the same metrics to quantify improvements.
• Report Both Quantitative and Qualitative Outcomes: Highlight improvements not only in revenue and reduced costs but also customer satisfaction scores, enhanced brand reputation, and improved internal processes.

By clearly showcasing these combined benefits, organizations can confidently demonstrate the comprehensive ROI of adopting a robust PIM solution. For more details on how to build your business case, you can also check out our Buyer’s Guide.

Creating ROI with Inriver

If you’re ready to start streamlining workflows and enhancing the customer experience, than you’re ready for PIM. Inriver’s powerful PIM solution breaks down silos and quickly empowers teams to enhance customer experiences, reduce operational costs, improve internal alignment, and strengthen brand reputation. Learn more about Inriver today to create measurable and sustainable ROI.