How Do I Choose a PIM?

Product information management (PIM) solutions help organizations centralize product information to increase efficiency, ensure data accuracy, and enhance employee and customer experiences.

Some PIM platforms have built-in capabilities that go beyond information control. They include software to manage digital assets and create digital experiences. The software may also integrate with other solutions for seamless operations.

What Is PIM?

A PIM definition can be as basic as a system for centralizing product information or as complex as:

Managing product data that encompasses — collecting, updating, expanding, governing, storing, and distributing a central source of complete, valuable product information and content. The process ensures that product data is up-to-date, complete, useful, and engaging to customers — The Future of Commerce.

Product information is more than text-based content, such as product descriptions and specifications. It also refers to the following:

• Product Images

• Product Galleries

• Product Ratings

• Product Accessories

• User and Owner Manuals

• Installation Videos

• Warranty Information

A PIM solution creates a single source of truth regarding product information. It ensures that product data is consistent and accurate across all delivery channels.

Marketing and sales teams can draw from the stored information for presentations, marketing campaigns, and website content. Support services can rely on the information when assisting customers. No matter the touchpoint, the information is accurate and consistent.

Why Do I Need a PIM?

Manufacturers need PIMs to help organize and centralize product data. If they have a website or publish product catalogs, they need a solution that ensures accurate and consistent information. PIMs also help companies increase operational efficiency by eliminating the need to search for information. Take the following scenario.

Product management and product development compile a specification for a new product; however, features are modified or dropped to meet the product's launch date. Product marketing drafts its product introduction materials from the original specification.

As the product approaches its launch date, marketing needs to finalize its materials. Although the specification has not been updated, marketing knows features have been dropped. How does marketing verify the product features? How many people must they contact before they have a curated list of product features? How many times will the process repeat during the product's lifecycle?

A PIM consolidates information into a single source of truth that ensures accurate and consistent information for a better customer experience across all channels.

Single Source of Truth

The best PIM software not only centralizes product data but it also ensures accuracy through version and user controls. Tracking changes to product information allows PIM solutions to identify when the last update was made and by whom. Outdated information can be removed to eliminate confusion. Employees and partners grow to trust the information, reducing the time spent verifying product information.

Better Marketing

While stand-alone PIM software improves data quality, PIMs with built-in digital asset management (DAM) capabilities allow marketing teams to integrate product information and digital content for a more robust customer experience. With a digital experience platform (DXP), marketing teams can collect, create, and distribute product information for a more personalized customer experience.

Omnichannel Experiences

Product information is delivered through multiple channels — websites, social media, trade shows, or product catalogs. When the information is inconsistent, customers may question a company's capabilities. If the data quality is poor, how good is the product quality? PIM platforms help manufacturers avoid the reputational damage that can come from inaccurate product information.

What Is a Good PIM?

A good PIM is a solution that meets a customer's needs. Finding that system can be challenging, especially as the market is projected to reach $75.23 billion by 2032, with a compound annual growth rate of 20.2 percent. Rapid market growth encourages more companies to enter the space, making it more difficult to identify what makes a good PIM platform.

Customization

Every company's data is unique and a differentiator in a competitive market. PIM platforms should offer multiple product types to accommodate a manufacturer's product lines. Users should be able to separate products from accessories and track information by product line.

When a new system is deployed, it takes time for employees to adjust. If product types and their attributes are pre-determined, it takes even longer for users to come up to speed. Customizable attributes allow manufacturers to implement a system that aligns with their business for a faster return on investment.

Collaboration

The best PIM tools in market foster collaboration. They support concurrent users, allowing multiple users to access the system simultaneously. PIM software can also control user access, restricting updating to a specific set of users. Marketing teams can access the information to discuss refinements or edits to existing information without emailing attachments for review.

Seamless Integration

PIM platforms should integrate seamlessly with DAM solutions to produce engaging customer experiences. DAM capabilities allow manufacturers to manage digital assets such as videos, images, and graphics. Unless PIM and DAM functionality is well integrated, end users may have to go through intermediary solutions to arrive at a go-to-market product experience.

How Do I Choose a PIM System?

With the growing number of PIM solutions, it's easy to lose sight of critical concerns when evaluating multiple PIM platforms. To stay on track, answer the following questions before starting a search.

What Functionality Do You Need?

Does your company rely on digital assets for its messaging? If so, an integrated digital asset management (DAM) solution may be essential. Digital experience platforms make adding visuals to product information easier with a fully integrated solution.

What Systems Do You Need to Integrate With?

Product information should be shared across an enterprise. PIM software may need to integrate with accounting packages, websites, and printing companies. Make sure the system supports APIs for smoother connectivity.

How Will the Product Information Be Used?

Product data can appear on websites, at tradeshows, or on packaging. PIM platforms may not support the required output file format. Explain how the product information will be used to ensure compatibility with your requirements.

What Type of Budget is Defined for This Initiative?

Few companies have unlimited funds to spend on technology. Understanding the supplier's business model can help determine whether the solution is within budget.

What is Your Timeline for Implementing a Solution?

Evaluating data is the place when establishing a timeline. Consider what data will be needed immediately and how current it is. Decide if material can be eliminated because it is outdated or is of no further use.

Moving from Good to Great

Existing PIM companies like Akeneo PIM have established themselves within the PIM market landscape. Other PIM software examples include solutions such as Acquia PIM that target specific end users, such as enterprise-level Drupal users.

However, great PIM platforms offer more than a solution to centralize product data. They offer built-in functionality to manage product information and digital assets. Digital experience features allow users to create engaging experiences while seamlessly integrating with enterprise-wide solutions for data sharing and transparency. They enable manufacturers to deliver exceptional product experiences cost-effectively.

Lumavate is one such platform. It provides companies with built-in capabilities to manage product information and digital assets. The platform lets users pull information from its built-in PIM and DAM functionality to deliver product experiences without technical expertise. Learn how Lumavate can turn your digital product experiences from good to great with a free trial.