What Is the Role of a Product Information Manager?
by Lumavate | Last Updated: Oct 2, 2023
by Lumavate | Last Updated: Oct 2, 2023
Think of any product you might find on a shelf at a big box store. Now, describe it. Consider all the ways it could be classified and all the questions a buyer might have about this product.
What are its dimensions? What colors does it come in? How much does it cost? Are there assembly or user instructions? Does it come with a warranty? Can consumers buy compatible parts or accessories?
Each question has an answer. And each answer is a product data point. Collecting, cataloging, and managing all of those data points is the primary responsibility of a product information manager.
Manufacturers are expected to provide accurate product information in every customer interaction. This highlights the importance of Product Information Management (PIM) solutions. Before diving into the roles of a product information manager and the details of PIM software, it's essential to understand what exactly product information entails.
When considering a purchase, product information is a critical component in the decision-making process. It gives customers essential details about a product that helps them make an informed buying decision.
Product information is the sum of all the questions customers ask about a product. From technical specifications and an owner’s manual to key features and benefits. We see more than one product information example every day, from our favorite cereal to the latest generation of smartphones.
Here’s a scenario to better put this into perspective: When you're in the market for a new laptop, there are a lot of things to consider. You'll want to think about the device's processor, memory, storage capacity, display size, battery life, operating system, connectivity options, and compatibility with other devices.
Having access to such comprehensive information allows customers to compare different models and brands, aiding them in selecting the product that best suits their needs.
Providing accurate and detailed product information not only helps consumers make informed decisions but also establishes trust between businesses and their customers. When companies offer transparent and comprehensive descriptions of their products or services, it shows their professionalism and dependability. When manufacturers display consistent product details across all touch points - website, in-store signage, digital ads, etc - it builds consumer confidence.
Product information is a crucial marketing tool that helps businesses showcase their unique selling points and stand out from their competitors. By effectively communicating the features and benefits of their offerings through compelling product descriptions, companies can attract potential customers and increase sales.
Product information can take other forms, including SKUs, functionality, measurements, and pricing.
A product information manager ensures accurate and up-to-date product information is available to internal teams, partners, and customers. They are responsible for managing product data, which includes specifications, pricing, images, and descriptions.
Product information managers work closely with cross-functional teams, such as marketing, sales, and engineering, to collect relevant information and ensure its accuracy. Their main priority is maintaining product data consistency and ensuring that all product information is accurate throughout the product lifecycle.
To become a product information manager, it is essential to have a comprehensive knowledge of Product Information Management (PIM) systems and processes. PIM software is a powerful tool that simplifies the management and dissemination of product information through multiple channels. It is a central platform for arranging, enhancing, and distributing product data.
Many businesses, especially those in retail, e-commerce, and manufacturing utilize PIM solutions to ensure product information is accurate and consistent across all platforms. PIM solutions simplify product data management processes, making it easier to create and update product catalogs with detailed descriptions, specifications, pricing information, images, videos, and other relevant data.
This centralized approach eliminates inconsistencies in data and guarantees customers receive reliable and current information about products.
At the heart of effective product data management is a specialized software referred to as a Product Information Management (PIM) solution.
This software solution helps businesses manage and organize their product information in a centralized database. It is the sole tool for storing, managing, and distributing product data.
PIM systems play a crucial role in all industries where there is a need to manage large volumes of product information. They are designed to facilitate accuracy, consistency, and quality no matter the amount of product information. Simply put, a PIM solution is all-in-one software for crafting and managing customers’ product experiences.
Some prominent product information system examples are Lumavate, Pimberly, and Akeneo. These product information management examples all have the ability to centralize the management of product data.
PIM software goes beyond mere storage; it facilitates the effective management of product data in several key ways:
PIM software serves as a centralized repository for all types of product data. This includes fundamental details like product descriptions, SKUs, pricing, features, benefits, dimensions and functionality.
PIM solutions enhance real-time collaboration and teamwork as it allows multiple users to log in simultaneously and update product data.
Many PIM systems come equipped with workflow management features, streamlining processes by automating tasks related to the creation, approval, and distribution of product information.
PIM software often integrates seamlessly with other systems within an organization's tech stack.
PIM software is the single source of truth for all product information. All stakeholders within the organization can rely on the data housed in the PIM system as the most accurate and up-to-date representation of the products.
The components of product data handled by PIM are diverse. They include both the foundational and rich media assets. Common components of product data handled by PIM systems include:
Basic product information, such as product names, SKUs, pricing, dimensions, weight, and any other information that forms the core identity of the product.
Technical specifications, ranging from processor details, RAM capacity, and storage specifications to battery life. These details are crucial for customers making informed purchasing decisions.
Relating products to cross-sell and inform customers of compatible accessories or replacement parts.PIM systems with integrated Digital Asset Management (DAM) functionality can handle and organize various rich media assets such as product images, videos, 3D models, owner's manuals, spec sheets, guides, and other digital resources associated with the product. PIM solutions with DAM capabilities enable manufacturers to create a holistic product record that captures all types of product data.
As a result, product information managers prefer solutions such as Lumavate, which provides the flexibility and robustness necessary to handle the complex PIM ecosystem. By using a single solution to manage product information and consumers' digital experiences, they can save time and resources. Fill out this form to book a demo today!