Product Information Management (PIM) systems have around for years, however, they've always been a Fortune 500 luxury. Smaller businesses have been stuck with the unfortunate Excel and local drives for storing data. And little do they know, this approach to is slowly killing their team's productivity and resources.
Until now, the two main reasons for SMBs not using a PIM are:
- The PIM solutions on the market cost a fortune and take too many consultancy hours to implement.
- The need for a PIM hasn’t existed for SMB’s because they used to handle fewer channels and fewer products.
But times are changing. And fast.
Today, you're monitoring multiple sales channels, platforms, offline and online resell points, affiliates, marketplaces, advertising platforms, social media, etc. to stay relevant. And guess what, you also need to be present on those platforms or you’ll find yourself out of business. So, this is what it comes down to: if you are a business that sells or produces products, a PIM is just as important to you as a Customer Relationship Management (CRM) system is for a consultancy based business.
Here are 3 reasons why SMB’s should consider a PIM
Centralized product information is good product information
Let’s be honest, it’s not ideal that all your SKU’s, descriptions and prices are kept in an excel file while all your images live somewhere in Dropbox or Onedrive. Just like you have all your company and contact information neatly stored in your CRM, your product content should be centralized in a PIM. In fact, it is very likely that your have more frequent updates to your products than you do with contacts.
This begs the question is: why would you use a CRM and then shrug off the importance of a PIM? Having an organized repository for all your product information means that you can reduce critical or even small errors. These errors give your business a bad reputation, influencing customer experiences.
It should needs to be quick and easy to share product content
How often do you find yourself sending the latest price list or updated product content to your resellers and to the press? Then, when the most recent price list is out there, you discover a mistake and you have to resend an email with updates.
If we boil it down to minutes and hours, this inefficiency will kill your business and make you look unprofessional. Today everything is expected to be done fast and accurately as a bare minimum. Choosing a PIM that focuses on distribution will bring you back on track and make you look professional to all your stakeholders.
You need to be everywhere to succeed
Whether you are a brand, manufacturer, or a reseller, your products need to be present on multiple platforms. Each of these platforms require you to enter your product information and upload images, and this takes up all of your time.
The result is that you end up drowning in these tasks or neglecting certain platforms because you just don’t have the time. Either way, it is harmful to your business's bottom line. With the right PIM, you can generate the right output and distribute your product content to all your desired platforms in matter of minutes.
What the PIM market looks like today ...
The good news is that with the disruption in technology and cloud-based services, PIM systems are no longer expensive, consultancy-heavy systems. There are alternatives to SAP and Hybris now, and these solutions are agile, cloud-based systems that are developed for content managers and not for IT people.
These systems cost a fraction of the price, offer a user-friendly interface and allow SMB’s to sign up by themselves and start immediately! These systems will not only disrupt the PIM industry, they will expand the overall market and create a demand from SMB’s that has not yet been there. So, what are you waiting for?
Get ahead with Plytix, an intuitive and affordable PIM tool for modern retailers!