Customer Experience

How PIM Solutions Help Overcome Product Data Challenges and Revolutionize Customer Experience

Customer experience (CX) in the retail industry is instrumental in attracting and retaining loyal customers. Today, customers are looking to make informed purchasing decisions, for which you must provide them accurate and detailed information on your products. But you also have increased product catalogs, varieties, and channels. Managing product information in outdated and legacy systems, like spreadsheets and ERPs, is thus becoming very challenging. Hence, a robust Product information Management (PIM) platform is essential for enhancing customer experience across channels.

Customers are critical to your business’s success. As reported by Forbes, customer-centric companies have at least 4-8% more revenue than their rivals, who don’t consider customer experience that important. Moreover, 84% of companies have increased revenue when they put customers above everything. While choosing brands, 96% of customers think customer experience is a key factor determining brand loyalty.

What is Customer Experience?

Customer experience (CX) is your professional relationship with your customer. Good relations are built when you understand your customer’s needs and deliver them what they need. You should also consider their feedback and measure their satisfaction. When a customer sticks with your brand right from pre-purchase till post-purchase, it means you have a loyal customer. To retain such users, you must consistently deliver them an accurate and consistent product experience. Outstanding customer experience improves brand loyalty and increases revenue.

Customer Experience PIM

What is Product Information Management (PIM)?

A Product Information Management (PIM) solution provides your brand with a centralized and consolidated location to manage and enhance product information. It enables efficiently building a product catalog and distributing it adeptly to sales and eCommerce channels. A PIM solution is an efficient and effective way to create and provide valuable product experiences.

CX PIM

How does PIM Enhance Customer Experience?

You can overcome product data challenges with PIM and enhance customer experience in the following ways:

1.    Centralize and consolidate product data

As your business evolves, vast amounts of product data are received from multiple sources. Managing and gathering the correct data when you want to distribute to sales channels is a daunting task. This data may be stored in multiple systems, usually with many inputs from several sources. Thus, your marketing department will have the tedious job of integrating and formatting messy data.

Unbxd PIM enables you to consolidate, centralize, organize, manage, evolve, and distribute the product information to multiple channels with less complexity and no manual effort. It enhances customer experience by providing them with one source of accurate information.

2.    Deliver consistent data to customers

One main reason for customer dissatisfaction is receiving inconsistent data. Customers feel frustrated when they don’t find information in the right place. This stems from a lack of a centralized platform to maintain product data and consistently update product information. When you post product information without implementing validation mechanisms, there are chances that you post irrelevant data.

Unbxd PIM allows you to achieve data uniformity by providing consistent, reliable, and accurate data irrespective of what channel your customer chooses. Find out more about Unbxd PIM and how it works.

3.    Handle diverse data formats with ease

When products and services are launched, the information on materials, suppliers, and equipment keeps changing. The changes can be in any format and order. If there is no centralized system to handle all these data and respective changes, you may be circulating ‘messy data’ across channels.

But with a strong PIM system in place, you can keep stakeholders, clients, and partners informed on the data changes. You can have an optimized view of data gathered, making data governance easy.  Unbxd PIM handles large volumes of data and supports multiple file formats. When you have the correct information in the right place, you can provide the best customer experience.

4.    Let customers make informed purchase decisions

When your product information is genuine and accurate, your customers can hit the bull’s eye in their first attempt. With a PIM solution, every single detail of the product is made visible to your customer, who would want to know every product detail without any fallacies to make informed purchasing decisions. When they make informed purchases, they are less likely to return the product.

With fewer product returns, you get loyal customers who help you maximize profits through increased sales. It is found that 23% of the product returns happen when a customer receives a different product than what they expect.

5.    Faster go-to-market for your product

When your product has detailed descriptions, documentation, and other necessary data, you can launch new products or enhance existing products more quickly and efficiently than your competitors with less effort and complexity. When your product reaches the market earlier than your competitors, your loyal customers will feel their impulses tended to and will be pleased to see new products on a reliable platform.

With the Unbxd PIM tool, brands, eCommerce stores, and retailers can get the speed and agility to export and distribute their products to aggregators, marketplaces, and online. Find out how the Unbxd PIM tool fulfills your faster go-to-market goal here.

6.    Correct data standardization

Data standardization is the process of establishing consistency throughout the product catalog to maintain the accuracy of data values. Manual validation and data checks may ensure accuracy but are error-prone, which adversely affect customer loyalty.

A robust PIM tool ensures that your product data meets international standards.

To know why our customers love using Unbxd PIM, check out the product overview here.

Summary

  • Customer experience (CX) is a crucial aspect in retail to attract and retain loyal customers.
  • CX is the customer’s impression of your brand that they achieve throughout their buying journey.
  • A PIM solution ensures your organization has a consolidated, centralized source of accurate product information to enhance customer experience.
  • It enhances CX by providing the proper standards to data, faster go-to-market for your product, correct information to customers to make informed purchasing decisions, delivering consistent data, etc.

Unbxd PIM provides a robust platform for you for holistic product information management and promotes increased sales and revenue and improved CX.

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