What is a PIM? PIM stands for Product Information Management, a system that manages your content for marketing and selling purposes. PIM systems are typically used for e-commerce businesses, and for good reason. A PIM can store all the data of your e-commerce company from SKUs, to product images, and descriptions of items.
The e-commerce industry is growing rapidly, especially in these unprecedented times. Because shopping and retail have shifted more online, it’s imperative that businesses that want to grow to scale have a PIM to manage their daily needs.
Why is having a Product Information Management (PIM) system important?
Think about what goes into selling a physical product online. If you’re buying an electronic, you’re going to want the details of the year, make, model, reviews, photos, etc. On the contrary if you’re buying clothing you’re going to want to know the material/fabric used, size, color, etc. Keeping track of all of these things to make sure the consumer is getting the best possible description of a product is difficult; nearly impossible if the product is sold in different languages, through different vendors, or in different variations.
That’s where a PIM system comes in. A PIM can help with sales organization, up your revenue, and make sure the right products are being shown to the right potential customers. A PIM can even go as far as cross-selling and up-selling products when a customer is already interested in something. It’s the ideal way to keep track of products and increase conversion.
Does a PIM help with efficiency?
The traditional way an e-commerce business keeps track of their inventory/product is through spreadsheets. Numerous spreadsheets spread across departments show how much a specific item sells, the details of the item, even the previous conversions. Unfortunately, this takes endless hours and manpower to keep track of these spreadsheets.
With a PIM system in place, a company can organize sales information and have classification of products. The PIM system will internalize all of the information and give your business a workable solution for understanding your inventory and sales. It also helps when working with creative assets to help sell your products.
How does a PIM system work with a Digital Asset Management (DAM) system?
When you consider everything that goes into an e-commerce company, the most important thing is the creative assets. No product sells without images. Hence, you need a DAM to be able to support your creative asset needs. For example, if you have a PIM system and join that with a DAM system like globaledit you will be able to facilitate a workflow that is coherent and multifaceted. Using globaledit as a DAM will enable you to store creative assets that feed into your PIM (and vice versa), you’ll be able to easily search for images via custom metadata schemas, edit, comment, and share on images, and even create versions of the best images that will lead to conversions. Having a DAM system is essential when using a PIM system because they work together to create an efficient and effective workflow.