How Do You Create a Product Information Management?

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by Lumavate | Last Updated: Dec 7, 2023

Businesses today have to balance a variety of different channels as they interact with their customers. Some people like to research products and solutions online, while others will call you up to speak in person. You may have some leads who prefer receiving information through email, while another group wants to use QR codes to let them access the precise information they need when they want it. For businesses like yours to be successful, they need to have the ability to track all these different types of experiences and create superior interactions across the different channels.

A key component of building these successful interactions comes down to effective management. Proper product information management keeps all of the product data organized and updated, which ensures customers receive the same superior experiences throughout their customer journey. Understanding the components of product information management and how companies can organize this data can help you get started on this path toward success. Here is what you need to know about product information management and the tools that can help you succeed with your new goal.

How Does Product Information Management Work?

Typically, when you get started with product information management, you will have one person or a small team of individuals who are designated as the owners of that product information. Many businesses operate with the paradigm of having specific individuals take charge of the information management for specific products. They will be the experts in this specific area and know all the latest updates.

Companies can also choose a third-party software called a Product Information Management (PIM) solution that allows them to manage product data and their digital assets effectively. When all the information for your company's products is contained within the PIM solution, the individuals or team members responsible for a given product will then ensure that all the product information in the system is up-to-date. This strategy ensures that everyone at the company can easily access the valuable information and can feel confident that the information is accurate.

How Do You Create a Product Information Management System?

When you recognize the value of using a common product information management system for all your products, you want to find a product information management tutorial that will help you structure your system and assist your business.

The first step in creating an effective solution involves inputting all your product data into the PIM. Work with the different members of the team who are responsible for different products. Ask them to enter the information and data they have and verify that everything in the system reflects the latest updates.

Next, you will want to store all your digital assets in a DAM, or Digital Asset Management solution. This part of the program will help you also keep track of all the digital assets you have created for your products, from your product images to your owner’s manuals. When you combine these two major sources of information-- your product data and your digital assets, you can also keep them updated together. If you update data on your product specs, therefore, you can be confident that the information also gets updated everywhere else in the system that it applies.

When you work with a solution like Lumavate, you get both the DAM and PIM functionalities right out of the box. This makes it easy to take advantage of all these capabilities and maximize your business’s use of the system.

Once you have updated your information, the next step is to create digital product experiences for every moment in the customer journey. Your company will want to create experiences for your customers, your partners (such as retailers, dealers, and distributors), and employees. Know what people want to experience when they interact with your product at different points in their product journey and how you can make that possible for them.

What Is an Example of a PIM?

There are several PIM software examples available today, including the following:

For businesses to find the best PIM software 2023 for their organization, you will need to carefully consider all the capabilities offered by these different businesses and how they align with your priorities and goals. Each of these solutions offers you the chance to centralize the management of your product data, and some of the solutions offer additional functionality. However, others, like Lumavate, go beyond what the others offer. Lumavate has become the preferred solution for many businesses because of its robust functionality as a PIM and the built-in Digital Asset Management (DAM) solution and Digital Experience Platform (DXP) it offers. Businesses find that these built-in capabilities are not available with other PIM software companies, making this a powerful tool as they work to build their customer product experiences.

What Is the Role of a Product Information Manager?

As you work to bring in all these different product information management tools, you also want to carefully study the role of a product information manager and how these professionals can offer your organization benefits and help you keep all the information organized.

The product information manager obtains and updates all the applicable product information within the centralized PIM system. Your manager will collect and update information such as:

This job can also include updating the system with any digital assets created, such as:

Having dedicated professionals who make sure that all the information for the different products reflects the latest updates keeps the entire organization organized.

Some businesses will hire one, full-time employee to manage the information for a given group of products. Others might have people throughout the organization responsible for these types of tasks. Regardless of how your business divides up the responsibilities, these product information managers are the subject-matter experts for the product data they manage. They are critical parts of a successful team.

Get Started With Product Information Management

If you want to help your business build superior product information management systems using the PIM and DAM capabilities, it is time to learn more about what Lumavate can do for you. See how this comprehensive tool can help you manage the information for all aspects of the customer product experience and create superior interactions for your leads and buyers and your products.

Learn more today about what Lumavate can do for your business.

See Lumavate in Action

Meet with one of our experts to see how easy it is to centralize your product data, manage digital assets, and create digital product experiences. Trust us…you’re going to be wowed.