What Is Product Information Management Used For?
by Lumavate | Last Updated: Oct 28, 2023
Every single business that sells products needs to keep track of product specifications. Product information management (PIM) involves the collection, organization, enrichment, and distribution of product data, including details such as descriptions, specifications, pricing, images, and other attributes. The primary goal of PIM is to ensure that consistent, accurate, and up-to-date product information is available for various business groups and channels, including eCommerce websites, print catalogs, retailers, and more.
What Is the Function of Product Information?
Product information is the information you have on any product you sell. It includes attributes such as:
SKU
Product description
Features
Dimensions
Benefits
Images
Product videos and/or walkthroughs
How-to videos
Owner's manuals
Spec sheets
Installation/assembly instructions
Warranty information
Each manufacturer will have unique product attributes to manage with their PIM strategy.
What Is Product Information Management Used For?
Product Information Management (PIM) solutions that include Digital Asset Management (DAM) functionality enable business owners to store all data on a single product in one digital record. This includes not only text data but also image files, video files, and documents. The PIM solution acts as a single source of truth for manufacturing teams tasked with supporting various products.
PIM solutions are typically cloud-based, which enables authorized employees in multiple locations to update information. Thus, the PIM platform is always up-to-date and accurate. As an additional benefit, cloud-based platforms protect a business from data loss that could be caused by a natural disaster or cyberattack on the company's IT system.
What Are the Key Components of a PIM?
A PIM solution provides you with the tools you need to keep all information up to date at all times. Furthermore, product information management software often provides tools you need to share product information with customers. It can automatically update listings on e-commerce sites when you create new products for sale, add new features to existing products, or discontinue certain products. Some PIM software options will even support related products, which enables cross-selling of related accessories or parts. Even so, a PIM solution is only one part of an effective product information management strategy. If you want to use your product information to its full potential to boost sales and build brand loyalty, you'll need to:
Create quality content. Product descriptions should be not only accurate but also engaging. They should resonate with people and make them want what you're selling. Some PIM systems have an AI function that helps you write product descriptions. Even so, you'll still need to check these descriptions to make sure they're in line with your brand's voice.
Create targeted content. You have to tailor product content to meet the needs of your target audience. This isn't a one-time job because your audience's needs and wants can change over time. You may also decide to reach out to new niche audiences in the future.
Make sure all content is always accessible to all authorized employees in your business. Every single bit of content about each of your products should be stored in your PIM. Information should be updated regularly to ensure the PIM is accurate at all times. If your PIM is incomplete, employees may start logging information on paper or database software. This can lead to information errors that could confuse customers and result in lost revenue.
Secure product information. You need to keep your PIM solution secure at all times. Only authorized employees should have access to information and be able to update the system. What's more, even authorized individuals don't need access to all information at all times. Limiting access to information protects your system from errors and breaches.
What Does a Product Information Manager Do?
Product information managers play a pivotal role in maintaining high-quality product data, ensuring a consistent and positive customer experience, and supporting the success of e-commerce and sales initiatives.
They are specifically responsible for overseeing the acquisition, organization, and optimization of product-related data within an organization. They ensure product data accuracy, consistency, and completeness while managing a centralized repository. Their role includes data enrichment, taxonomy creation, and collaboration with various teams to align product data with organizational goals.
Their work directly impacts a company's ability to present accurate and compelling product information to customers, which can significantly affect sales, customer satisfaction, and brand reputation.
Granted, the product information manager job description will change as a company grows and expands its product range. Companies that sell a huge variety of items and/or sell items in many online and offline locations may have more than one PIM manager. Each manager would handle a certain category of company products to ensure the PIM system is always accurate and up to date. On the flip side, small businesses would most likely be unable to hire a full-time employee who only manages product information. Thus, the PIM specialist job description would change to someone who does other jobs but is also responsible for the company's PIM system. This person, in addition to his or her other responsibilities, would check the PIM system to ensure it's always accurate. A good PIM system plays a vital role in effective product information management, but you can't rely on software alone to meet all your PIM needs. Putting someone in charge of your product information management system is a must to ensure your product information is accurate and appealing to the people you want to reach. Efficient human management coupled with a good PIM solution is what you need to empower your business to grow long-term.