Leveraging PIM Systems For Generating Higher D2C Revenue

Posted on January 12th, 2021
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Leveraging PIM Systems For Generating Higher D2C Revenue

Being a consumer-centric model, D2C is all about delivering a quality product to the customers in a better and personalized manner. In the wake of the ever-increasing competition in the retail sector, brands are looking for smarter approaches that will help them roll out more products into the market without hampering customer engagement. Launching products across multiple channels can be a little tiresome, but avoiding this will result in a weaker market reach and will affect the brand's promotional operations.

For direct-to-consumer brands, having an omnichannel presence in the e-commerce sector is vital. According to statistics presented by Invespro, D2C brands that have employed robust omnichannel customer engagement strategies retain 89% of their customers. Those who have a weak or insufficient omnichannel strategy were only able to retain 33% of their customers.

Shop on any device, any platform

An omnichannel experience accounts for all types of devices and platforms that can be used by a customer to interact with the company and use the services. Companies that are using omnichannel strategies are already ahead as they have the leverage to refine their messaging, targets, goals, and designs across each channel and device available.

Enterprises can reap the benefits of proper customer engagement by aligning all these factors together, which in turn, enhances the marketing and service efforts of the company as a ‘brand’. Industry experts have also applauded omni-channel marketing for being a valuable asset that allows enterprises to deliver a better customer experience, which is a core element for a direct-to-consumer brand’s success.

As more brands are adopting the direct-to-consumer approach, incorporating consistent messaging about the product value across various channels is necessary.

One way to achieve consistent messaging is to use a Project Information Management (PIM) system.

Product Information Management System (PIM)

PIM systems are smart platforms that are used to manage information about products, marketing, and selling patterns through various distribution channels that support omnichannel marketing. These channels include product catalogs, websites, ERP (enterprise resource planning) systems, reseller channels, and third-party distributors.

D2C brands can benefit by using PIM systems as they are:

  • Launching multiple products with numerous variations.

  • Partnering with suppliers, distributors, and resellers.

  • Promoting brand value, products, and services.

  • Communicating and advertising in various languages and regions.

Why Do We Need a PIM System?

PIM system has a lot to offer— it is a smart software that stores, evaluates, manages, and helps an enterprise distribute their products and services. Let's look at some key reasons why your D2C brand needs a PIM system.

  1. Enhances productivity

A PIM system will provide a one-stop solution for teams by helping them in finding all the relevant information related to a product or service they are offering. Using a PIM system will save time and deflect confusion related to the location and arrangement of the product information. The time saved can be utilized to complete other vital operations like on-boarding new products and expanding the product catalog.

An efficient back-office system that manages all the products and services will allow teams to access and modify products without disturbing the e-commerce store. This allows the teams to work in a more agile way and lets them focus on making product information as accurate as possible.

  1. Reforms product content quality

Customers typically expect a brand to provide them with thorough and accurate product descriptions, along with images, videos, and reviews. Proper product descriptions generate a sense of authority and give out the idea that the brand knows its purpose. If the customers fail to find what they are looking for, they will naturally shift to another retailer.

Using a PIM system allows products to grab the attention that they deserve. The system gives out a clear infrastructure that helps create a piece of well-crafted product information, bringing customers closer to purchasing that product. Adding images, videos, and reviews within the product information will help customers pick the right product according to their preference.

  1. Provides a single source for product content

The main purpose of a PIM system is to distribute the product content and information directly from a single platform. The system effectively saves the time and effort used in finding product images, descriptions, videos, or reviews. For instance, when a brand wants to release a new product line, they can add the product information in the PIM, along with related images, videos, press releases, descriptions, and other assets. The process makes every easily accessible and organized in one place.

  1. Improves customer experience

D2C brands have a clear objective of providing the best service to their customers. Here, a PIM system allows brands to categorize their products in a more customer-centric way that gives a proper structure to the product catalog. The system also helps in making the website easy to navigate and more customer-friendly, allowing customers to make specific searches. Customers can filter out their search queries on the basis of factors like color and size and all the relevant products will be displayed accordingly. This also shortens the search process and helps customers find exactly what they are looking for.

  1. Increases ROI

As PIM systems organize product content, teams can roll out more and more products faster, resulting in a higher ROI. Customers can navigate through the website easily and select products according to their preference without the hassle of scrounging through multiple websites. This makes customers move closer to buying the product, hence generating revenue for the enterprise.

  1. Keeps teams well-informed

Organizing product data, inventory and website analytics, sales metrics and other relevant content helps teams make smarter decisions. PIM system’s open integration infuses rich product data with transactional and analytical data which gives out a holistic view of the product.

Teams can build mineable data records by connecting the product content with data warehouses, spreadsheets and other management systems lie ERPs. The system’s powerful data integration capability will keep the teams well-informed, while generating dynamic reports, allowing them to access the contents easily and identify errors and faulty information.

  1. Boosts performance and efficiency

A good PIM system efficiently reduces redundancy, maximizes productivity, and improves performance and product quality, while avoiding the need for relying on mismanaged spreadsheets. These systems are known for streamlining workflows, eliminating manual tasks and labor, linking assets, and creating space for value-added activities within the teams.

Maintaining the product content in a trust-worthy, single source will reduce the time spent searching for information and update across complex databases. The team will be able to access information on-demand and integrate them with the omnichannel strategies of D2C brands while increasing the market reach and decreasing unnecessary efforts.

PIM System Methodology

A good PIM system should be able to:

  • Support enterprises and midmarket clients.

  • Provide product content repository, product onboarding, enrichment, and governance.

  • Streamline distribution and syndication.

  • Offer content management roadmap.

  • Demonstrate solutions across omnichannel platforms.

Bottom line: Align Product Content With PIM System

As products are the core of any business, big or small, it makes sense to ensure that the product information is precise and as easy to understand as possible. Providing valid, genuine information about the product generates credibility and authority, which in turn builds an emotional connection between the buyers and the brand. It is impossible to achieve an excellent customer experience without an impactful product experience.

Using a robust PIM system will help enterprises achieve a superior product experience, omnichannel marketing, increase conversion rates, reduce product returns, and allows brands to expand their reach to new markets. These tools are essential for controlling all aspects of product information collaboratively, simplifying the process of managing, creating, and using that product information for promotions, and generating brand value for both online and offline catalogs.

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Posted on:
January 12th, 2021