3 good reasons to invest in a PIM system
If you have a company in a specialized sector, you know that you are active in a market that is highly competitive. With many similar products and information available to the customer, it is important to stand out among your competition.
With today's technology, there are many companies that have made room for the digital transformation and are focusing on an online store next to or instead of a physical store. For many companies, however, running an online store is just as challenging as a physical store. If you have a niche store that sells specific products such as bicycles and accessories, it is imperative that you know how to reach new customers with as many attributes as possible.
We can imagine, for example, that you have an online store where you only sell bicycles and accessories for the bicycle. You may have integrated an ERP system with your online store, so that the various bicycles contain basic information, such as an item number, price and a photo of the bicycle. Unfortunately, this is no longer enough to arouse customer interest.
Nowadays, so much information is needed from each product and it can therefore be difficult to make a change and tackle the problem. According to FDIH, 81% of the visitors of your online store will leave your site if it contains insufficient product information.
With a Product Information Management (PIM) system you have an extensive overview of all product information for all your products. For you as an employer or employee of a company, it is probably sufficient to distinguish the bikes only on the basis of article number and name, because you already know the products. However, this is not the case for your customers and therefore you must show the customer in an attractive, visual way why your bikes are different and which ones are most suitable for the specific customer based on his or her preferences.
This is exactly what an integrated PIM system can do for you. We have collected 3 good reasons that show you why you should invest in a PIM system.
1. Full control of all product information
With an integrated PIM system you have complete control over all information that you have about a product. You can set as many criteria as you want within your PIM system and ensure that certain attributes must be completed before the bicycle is placed in the online store. In this way, each department can enter important specifications and easily see all the characteristics of the bicycle.
These can be basic or specific characteristics. For example the color of the bike, the number of gears, the brand logo, which lifestyle fits the bike or how big the wheels are. This also gives you a good starting point for using filters in your online store.
2. Use product relationships
By making use of relationships between different products in your online store, you can increase sales by selling more. In a physical store, a good seller will always ensure that the customer leaves the store with the best option of the product that the customer needed - as well as the additional products needed to use the product properly. It is important that an online store works in the same way and this will be even easier due to the many available product information. For example, if the customer has placed a bicycle in his shopping cart, it is necessary for your online store to display "related products" such as a matching helmet in the same colors or a lock that fits the bicycle.
When customers already have a product in their shopping cart, they will be more receptive to purchasing additional products, which will increase product satisfaction.
3. Focus on the customer
With an integrated PIM system you can give your customers a comprehensive overview of all your product information, which will benefit both you and your customers. With the competition just one click away, it is imperative that you provide as much product information as possible to your customers, so that they can easily compare multiple products and make a purchasing decision based on facts.
If your online store is the one with the most relevant information, customers are likely to choose to buy from you because they will have some confidence in your business because of the information that is available. This allows you to expand the reach of your online store by attracting new customers while retaining your existing customers.
A PIM system is suitable for all types of companies that sell products, whether you own a niche store or a chain of stores. An integrated PIM system can save your company a lot of time, money and resources by automating and simplifying work processes, while you can easily increase your income.
With just a few clicks, all product information is available and you have complete control over what is on display in your online store. Moreover, you can easily add new products and remove old ones. All information is still stored in your PIM system, so if you want to resell an old product, you can do so with just a few clicks.
Have you decided that you are going to implement a PIM solution? Start by calculating the estimated hours that your PIM project is going to take up.
Curious as to whether a PIM system can help your business? Get a ballpark estimation for your PIM project hours.