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Maryna Postrelko
Written by
Maryna Tarasenko
Marketing Manager at Gepard
CONTENTS
PIM PIM software product information management

15 Things Your CEO Wants You To Know About Product Information Management

4 min read
January 26, 2021

In the age of ever-growing amounts of data and new emerging marketplaces, brands’ and retailers’ need for automated product information management is ever-growing. Investing in a PIM system is an important step for your business that requires solid knowledge and preparation.

15 FAQ About Product Information Management

The answers to the most popular questions about the PIM system will help you understand how it can affect different areas of your business and how to choose the right PIM solution.

1. What is product information management and why is it important?

Product information management (PIM) system is software that works as a single place to accumulate, manage, and distribute product data across different marketplaces. Using PIM significantly improves your product data quality, enhances the reliability of your brand, enables your team members to effectively communicate with each other, and boosts sales.

2. What Does Product Taxonomy Mean?

Product taxonomy is a logical structure used to organize your products and any related unstructured data. It simplifies the search of relevant information for buyers, which enhances users’ experience.

3. Which businesses need a PIM system?

A Product Information Management system is useful for retail companies where their product data is spread across multiple sales channels. Both small and big businesses, online retailers, manufacturers, product managers, and marketers will enjoy PIM benefits.

4. What are the must-have PIM features?

The required product information management features are simplicity of data import, automation of routine tasks, the multitude of PIM capabilities for data editing, all-seeing digital view of product information, the efficiency of creating a product catalog and managing product categories, automated product content analytics, and advanced data governance.

5. What are the differences between PIM and MDM or ERP?

The wide-reaching ERP system and MDM software are used for high-level business management processes, while the PIM solution works directly with the product databases and has a more product-focused approach. Here you can find the comprehensive comparison of PIM, MDM, and ERP systems and read about product information management best practices that will help you choose the tailor-made software solution for your business.

6. Is there any retail industry standard to exchange product information?

To avoid any misunderstanding, the companies use a product information exchange standard, such as ETIM (European Technical Information Model), which is very popular in the electronics industry. GDSN (Global Data Synchronization Network) is widely used in consumer electronics, healthcare, retail trade, and many other sectors. Implementing GDSN enables your business to synchronize high-quality information through various sales touchpoints.

7. How should one deliver the product information to different sales channels simultaneously?

The product information delivery can be done manually or be automated with the help of a PIM solution. The main challenges in delivering product data are complying with the requirements of each marketplace, avoiding data inaccuracies and inconsistencies, and keeping up with ever-changing updates of sales channels.

8. What Is Product Content Syndication?

Product content syndication means the distribution of product data synchronized across multiple marketplaces. Manual product content syndication is an error-prone and time-consuming process, unlike automated product content syndication brings a lot of benefits for your business.

9. Do retailers have a master data model template for brands?

Various sales platforms have their own product data model, product catalog template, and product specification sheets to be filled in. In this analysis by Gepard, you can compare the product data models of such major marketplaces like AliExpress, Amazon, Alibaba, and Best Buy; read there about amazon feed specification and retailers taxonomy of other major sales channels.

10. Where can one get product content?

Companies that want to sell on multiple channels, use a CSP (Content Service Provider). CSP offers a cloud-based platform with rich product content accessible to distributors and retailers. Here you can read more about what is a content provider and how to choose the most suitable one for your business.

11. How can you manage product sheets faster?

A dedicated PIM system helps manage product information sheets fast and without extra effort. With the automated data processes, the data errors are eliminated and the product information is valid and consistent. Read how to manage product data sheets six times faster and use your time for more creative tasks.

eCommerce Business With And Without PIM

12. How can you plan a PIM launch without a headache?

It’s important to create a plan for a flawless PIM implementation. It generally consists of PIM design and discovery sessions, building PIM architecture and data modeling, configuration and data migration, PIM integration, and defining output for the PIM system. The roadmap to PIM implementation can be different for various companies and depends on your business goals and expectations.

13. How can one sell on Amazon, Walmart, MediaMarkt, and BestBuy?

Amazon, BestBuy, MediaMarkt, and Walmart product content policy and data model structure are different from each other, so you’ll have to comply with all the requirements of these marketplaces. Our PIM & Syndication tool will help you structure your product data and match it with the hierarchies of sales channels you use.

14. How to calculate PIM ROI?

Measuring the ROI of PIM is important if you want to reveal the hidden value of PIM for your business and understand how product data quality influences your sales. Here we thoroughly explained how to calculate qualitative and quantitative ROI of product information management and how to measure cost reduction and sales growth after PIM implementation.

15. How to convince your CEO to invest in PIM?

Investing in a PIM solution should be worthwhile. Your CEO wants to be sure that PIM will improve data quality, reduce eCommerce product returns, and bring more sales. Download our in-depth e-book about the PIM system to learn why it’s much more than just product information management and how it can change your business.

Ebook About PIM For Retailers And Brands

Discuss Your PIM Needs With Gepard Experts

 

 

Maryna Postrelko
Written by Maryna Tarasenko
Marketing Manager at Gepard
A passionate professional with solid expertise in Content Marketing, External Communications, Email Marketing, and Social Media. Marketing Manager at Gepard, the product information management & syndication platform, helping to centralize diverse product data and deliver complying content to sales channels.

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