A product information management (PIM) system has become a vital tool in the B2B, B2C, and DTC ecommerce landscapes.
We’re witnessing a continuous rise in the number of organizations adopting PIM for their everyday data management duties. In fact, Markets and Markets suggest that the global PIM market size is expected to grow from $9 billion in 2020 to $16 billion by 2025, growing at a Compound Annual Growth Rate (CAGR) of 12.2% over the forecast period.
This shows that more players are going to add PIM to their businesses to leverage its potential. With that said, there’s still a long list of organizations that are hesitant to take the leap due to a couple of myths associated with PIM.
One of them is that a PIM platform has to be managed by a big team. This is the furthest thing from the truth because choosing a PIM shouldn’t be about how big your team is but instead, how it can help you better manage your product content.
Because that’s what a PIM is meant to do.
So, now that we’ve established why you don’t need a big team, let’s explore why:
Efficiency doesn’t require a big team
One of the key benefits of a PIM is that it helps teams become more efficient with their data. If you don’t have product data management software, then you’re more likely to be using Excel spreadsheets, Google sheets, Dropbox, or other outdated data storage methods. But, when it comes to efficiency, keeping data in various spreadsheets and old storage methods is bad for business because:
- It makes data management far more time-consuming than it needs to be
- It leaves more room for human error, which impacts your sales and customer experience
- You’re more likely to lose important data
- Collaboration becomes a nightmare on lagging spreadsheets
You can put a stop to that by adopting a modern PIM system. When you think about it, who manages those spreadsheets? You do, right? Well, that’s the same as in a product content management tool. The only difference is that all your data is stored in one location, where you can easily update, manage, optimize, enrich, and syndicate to other sales channels such as Amazon, eBay, Facebook Shops, and more without having to manually prepare a new spreadsheet for each one.
An information management system can solve all data management issues that hinder your business's productivity. For instance, the Plytix PIM tool is user-friendly and can be used by the same people (or person!) who manage your spreadsheets. Again, you won’t need to hire or have a bigger team to use a PIM.
PIM makes collaboration easier for any sized team
Product management can be a time-consuming job—even more so if you have over 1,000 SKUs or your goal is to win at multichannel selling. This tool takes this time-consuming job and simplifies—a PIM isn’t about having a dedicated team, but easily accessing all your product information across departments.
Plus, it becomes easier to deal with incoming or outgoing product data.
Plytix PIM, for example, is a collaborative tool that allows everyone to work together to streamline the processes of improving and sharing product content. And, most importantly, with our PIM, you can take advantage of Channels, which let you syndicate content to marketplaces, your ecommerce platform, comparison shopping engines, and to your retailers easily. You can also use Brand Portals to send cross-departmental data or externally to resellers and wholesalers.
PIM is the missing piece that helps keep all necessary individuals, whether internally or externally, on the same page, and ensures information is consistent.
It helps you save time and focus on optimization
As businesses and customer expectations continue to grow, so does data management. Apart from dealing with a large number of SKUs that need to be optimized to ensure they rank on search engines, businesses need to create compelling, accurate product descriptions, and high-resolution digital assets.
Without a PIM system, mistakes can affect your sales. 87% of shoppers rated that product information is what they look at when deciding to buy, and 50% have returned an item they bought online as it didn’t match the product description.
So, if you’re trying to ensure that you offer your customers accurate and rich product content, then storing all that data in spreadsheets and folders means more work. Perhaps, in this case, you might really need to hire more hands, as managing lagging spreadsheets and folders can become time-consuming. You’ll be needing to spend more time waiting for lagging spreadsheets to load and trying to recover lost data, among other tedious problems. This results in less work done.
A report by The State of Data Science and Analytics shows that:
- Data workers spend 90% of their working week (around 36 hours) on data-related activities such as searching, preparation, and analytics.
- Data workers worldwide spend a full 44% of their workday on unsuccessful data activities.
According to that report, these inefficiencies are caused by employees having to juggle multiple technologies and manually update formulas, tables, and spreadsheets, which in the end drops productivity levels within the organization.
But it’s possible for you to spend less time managing data and more time on the business’s core functions when you have a PIM solution.
One of our customers, Alltrade Tools, a leader in the design, manufacturing, and marketing of innovative products for home, garage, and worksites said, “if you think about it, we’ve been around since the 70s. That’s decades of recording product information. When I began the search, it took me a full month to complete something that takes me 20 minutes now.” This is what your organization can experience once they adopt a product content management system.
Plytix PIM is built for all users in mind
Not only does Plytix make it easier to do business, but it’s also easy to set up.
You don’t need to hire a development team to help you get set up, (although it can come in handy for configuring APIs!). Nor do you need to be tech-savvy because the Plytix platform was built by content people for content people, so it’s easy to use and intuitive. And, Plytix is platform-agnostic so you won’t have to change your data to fit Plytix. Instead, we’ll help you build out a PIM that matches your current data structure and naming convention. And, you’ll have assistance every step of the way because you’ll have a dedicated Customer Success Manager to help you at all times.
It’s simple really. Our goal is to help you build out a PIM that will help you prosper in the ecommerce industry, no matter the size of your team.
Get a PIM system today!
As mentioned above, a product information database streamlines the processes you’re already doing. You don’t need to hire more people to have a PIM. Instead, getting essential product data from your ERP, optimizing product descriptions, integrating with marketplaces, and everything product data-related can be a breeze. This, in turn, ensures that your business continues to grow and bring in sales. And this is why PIM for small businesses is a game-changer.
So don’t miss out because of this misconception. Whether you have a team of one or ten, Plytix PIM is designed to help SMBs succeed in the digital space.