The new features of product information management respond to consumer trends. If you do not constantly manage your product information better and better and keep up with the lives of your customers, your competitiveness will be in danger.
Product information management (PIM) is connected, in one way or another, to everything you do with your business. It gathers the most important information and makes it available to potential customers in different sales channels. With this in mind, it’s no wonder that solutions are rapidly evolving. New functionalities are developed based on customer expectations.
The fact is that a management system, once deployed, will not remain adequate for long. In order to retain competitiveness, you simply have to keep up with development. These four global trends are already available for you to use at this very moment.
- Let third parties in
Nowadays we want to involve third parties in editing product information directly in the management system. Involving suppliers, marketing agencies and internal parties in the process ensures that we will always have the most up-to-date versions of product information.
The content process will become more effective, and the product information available to customers will become more comprehensive than ever. When different parties are able to edit information in the system, it is very convenient for the person in charge of the product to check and accept the changes made. This way, editing and changes are automatically included in the product information.
- Include videos in product information
The impact of videos on purchase decisions is growing at an ever-increasing rate. People watch more and more videos, and, according to research, B2B buyer behaviour also follows consumer trends.
As a part of product information, moving pictures can provide the customer with a unique story about the product. New services that automate processes and integrate video content as a part of the product information have emerged. Videos are not seen as separate content but rather as an integrated part of the package being offered to customers anywhere and anytime.
- Share your product information on the world markets
At a global level, various marketplaces are becoming more and more popular at a brisk pace. The most famous one is without a doubt Amazon, which continues to gain ground. Rumours about the online store giant arriving in Finland are seen as a big bogeyman for local actors.
PIM systems can respond to this with new connectors for different marketplace systems. These connectors convert the existing product information into the correct form so that it can be transferred automatically for use by the above-mentioned giant, for example. Your company’s own products can be put on sale smoothly and even more widely than before. The world market is open for your company.
- Have an impact on your customers’ purchase decision
We have more data available than ever before. The only issue is how to utilise it correctly. In a best-case scenario, we get to know customers’ consumption patterns and decision-making process.
When we are able to understand customers, we can target them with right products at the right time. There is no need to recommend a product that has already been purchased. Instead, accessories related to the product bought, for instance, should be highlighted. Personalised marketing is successful only if the product information and attributes related to it are in order.
In product information management, it is risky to assume that, after deploying a new system, everything will remain in order for several years. Customers constantly demand more and more.
Luckily, system functionalities, too, are developing — along with consumer trends. Seizing new solutions will guarantee the competitiveness of your company in the future, too. Provide your customers with interesting products that have stories around them. This way you can get involved in the lives of your customers.
Contact us to discuss more about product information and how to manage it!