Today, customers engage with your brand or store on different channels. They expect complete and thorough information on all outlets.
It doesn’t matter if you’re big or small providing your clients the right information can help your business a lot. Did you know poor product descriptions are one of the biggest causes of cart abandonment?
Even if you’ve your own semi-automated product data update system, there’s always room for improvement. One way is by using a product information management platform.
Not sure what it is? Want to learn how this system can help your E-commerce store? We’ll tell you all about it and why you should get your hands on it.
Product Information Management: The Basics
Before we go into why your store needs a product information management software, we’ll discuss the basics. What is PIM?
PIM is a software that helps you manage your product catalog. We know it isn’t as simple as it sounds. Because implementing it can come with a hefty price tag and, you might need to hire experts.
But, it’s one of the best ways to increase your revenue and scale your business. It will give uniformity to your brand. This system keeps all your product data in one place.
It will help you and your team access and modify your product information from anywhere. This portability gives your business an upper hand in your operations.
You can have a remote team and perform at the highest level. PIM systems also provide options for you to share information with your suppliers, manufacturers, and other key partners.
Why Does Your E-commerce Store Needs a PIM System?
Today, we see E-commerce stores that have multiple sales channels. Most of the time, this causes customer misinformation and problems in the supply chain process.
Even if you’ve your own semi-automated product data process, it’s challenging to keep uniformity among all selling platforms. If your customer doesn’t have the right product information available, it might translate into higher cart abandonment rates and higher costs.
Your customers might not place an order or purchase something they’ll want to exchange later on. Either way, it isn’t the best outcome. If you focus on your customer having the right product information, you’ll take your business to the next level in no time.
Here are 8 reasons why your E-commerce store needs a PIM solution:
1. Consolidating All Your Product Data
Maybe you’re already selling on several sales channels or you’re thinking about it. Either way, a PIM solution can help you consolidate all your product data.
You and your team will be able to set your product information for all your sales platforms in one simple step. Using this software, your product data will be accessible and easy to manage.
2. Establish Efficiency and Speed Processes
Experts say that manual product data entry and update takes an employee about 25 minutes per product every year. By using a PIM solution, you could lower that down to 4 minutes.
3. Measure Product Data Effectiveness
You might have a product data template for all your products. Yet, we know that not all products are the same. That’s why a PIM software gives you the option to do A/B testing of your product descriptions to increase your conversions.
Using these methods, you could test your product data effectiveness. You might be thinking you need a new product when in reality you just have to polish your product data.
4. SEO Optimization All Across the Board
Having all your product data in one place gives you the opportunity for uniform SEO optimization. The great thing about it is that you can apply it to all your sales channels with the click of a button.
You can establish your own SEO enhanced descriptions to use on all your products. This will give you consistent high-quality consumer traffic to take your business to the next level.
5. Customize Product Information for Each Sales Channel
Selling on several sales channels is a great way to expand your brand reach and improve your revenue. Yet, not all sales channels cater to the same customer. This means that sometimes you can’t take a one size fits all approach with your product descriptions.
Using a PIM solution gives you the option to customize product information for every sales channel. This way you can streamline your product data process by running it on one platform instead of switching between sales channels.
6. Monitor Performance Across All Channels
A product content management software can help you monitor performance on all channels. Some products might sell better on some sales platforms than others.
This software can help you get a clear idea of where your product is selling better and why. You could run different types of test to know its performance on your channels.
7. Cost Savings in Your Logistics
Experts have found that by using PIM you could lower your returns by 23%. Also, it might help you deal with out of stocks. Because your inventory information will be up to date.
This translates into less out of stocks and more sales. We know that you’ve to grab the customer when he or she is motivated.
If they want to purchase your product but it’s out of stock. You might lose that client even though you might’ve it in stock.
8. Improve Customer Experience
Using a PIM software in your E-commerce store can help you improve customer experience. Remember that customers want to know what they’re buying.
So if you give them complete and thorough product descriptions, your conversions will increase. If you’ve decided that a PIM solution is just what you need. Click here to learn more about where you can get yours.
Is Getting a PIM Solution the Right Call?
Yes, getting a product information management solution is the right call. Using this technology can help you scale your business faster than you ever imagined. Not all PIM solutions are alike.
Look for a solution that fits your needs. Do you need a system that syncs to your supply chain? Are you selling your products on different channels?
Are you looking to scale your business? These are some of the questions that can point you in the right direction. Remember to research, what solution gives you the best opportunity to grow your business.
Are you considering developing other E-commerce sales channels?
Check our blog post to learn how to build other online retail channels.