PIM Solutions

PIM Solutions: The Main Driver of Quality Product Information and Customer Experience

A business’ growth is measured in terms of revenue and customer satisfaction. There is no value in growth without happy customers. After all, a happy customer always turns into a loyal customer.

You must provide accurate and consistent information about your products and services to make your customers happy. As a result, customer-focused companies tend to have higher revenues than their rivals. According to a Gartner report, 81% of businesses said they would compete mostly or completely based on customer experiences.

To deliver a personalized and enhanced customer experience, Product Information Management (PIM) is key. It can take the burden off your shoulders by centralizing product data and providing an ultimate customer experience. Before understanding how PIM plans to do that, you must understand what customer experience and PIM are.

Customer Experience PIM

Customer Experience

The customer experience for your brand involves a customer’s mindset, sensory response, affection, and purchase behavior towards your brand. A customer can be considered a happy customer of your brand if they are loyal from the pre-purchase to the post-purchase experience. Such clients can be your loyal customers.

Hence, customer experience entails your professional relationship with customers. You can build good relations by understanding your customers’ needs, considering their feedback, and measuring their satisfaction with your business.

Importance of Customer Experience

Customer experience is equally essential for both growing and established companies. Good customer experience plays an instrumental role in the following aspects:

●      Business Growth

A satisfied customer is likelier to turn loyal and buy from your business every time. According to a study, loyal customers increase a business’s profits by 25% to 95%.

●      Employee Engagement

Good customer experience attracts 1.5 times more employees. Furthermore, high employee engagement will lead to a well-performing business. Satisfied employees will be more productive and help your business grow.

●      Brand Awareness

Happy customers can sometimes become the face of the brand. They promote your brand more than you and can attract thousands of more customers.

PIM: Product Information Management

Product Information Management or PIM is software used to centralize, organize, categorize, localize, synchronize, and enrich product data. It stores the entire product data in a single record, providing a 360-degree view of the product. Eventually, through this data, you can create a fantastic customer experience for your business’s long-term success.

How Does PIM Impact Customer Experience?

According to research conducted by Ventana Research, PIM and customer experience are very closely connected. The study recorded that three in five organizations (61%) using Product Information Management technologies cite improved customer experience. So, let us understand how PIM can enhance the customer experience for your business.

●      Your Products Become Easily Findable

With a PIM solution, you can easily evaluate and establish an accordant data table of your products, known as the product master data. You can enrich your product data with SEO-related keywords to help the discoverability of your products. With the product master data, you can structure your site in such a way that the browsers hit the bull’s eye every time someone searches for something specific.

●      Rich Product Content

Customers will move past your products at the speed of light if they do not find relevant information. Therefore, you need an excellent PIM solution to keep all relevant product data up-to-date, precise, and uniform. Such data delivery reduces online shopping cart abandonment and enriches the shopping experience.

Even if your business does not support a direct-to-consumer business model, using PIM can help you push high-quality product information out to resellers and retailers and keep the control over customer experience in your hands. Besides, PIM is known to support omnichannel strategies. Thus, consumers can access consistent product information on all channels – whether on a laptop, tablet, or mobile, or in-store – leading to a consistent customer experience.

●      Deliver the Right Product in the First Attempt

According to a survey, 22% of product returns occur when customers receive products that differ from what they saw online. PIM helps you input the perfect and genuine product information, making it easier for customers to match your product against their requirements. Your customer gets every single detail about your product without any error. Thus, they will have the best experience because they will buy the product they need and will not return it after receiving it in person.

Minimum product return, in turn, delivers maximum profits and good customer feedback. Thus, PIM saves you the cost and time of product returns.

●      Better Customer Service

Seamless and consistent product information across all channels and business modules can readily help your internal departments access reliable information. For example, PIM software lets your staff quickly access information such as stock count, upcoming deliveries, stock in stores, etc. It can also be used to automate mundane and repetitive tasks, freeing up resources to allocate towards other crucial tasks. Such information helps them serve the customers better by giving them relevant information. Besides, it also enhances the sales cycle and the employees’ efficiency.

With enriched product information, you can launch new products more quickly than your competitors. All product information is just a click away, thus saving you the time to fetch data from different platforms.

With faster time-to-market, loyal customers would be happy to see new products within moments of their launch on reliable platforms. They would be delighted to see their favorite brand launching a new product before other brands.

●      Market in Customer’s Native Language

PIM offers a multilingual tool to avail your website content in different languages. The customers are more at ease connecting to your products and business when the content is in their native language. This also attracts new customers to buy from your website because they are delighted to know about your product in their native language – ultimately receiving a unique, superlative customer experience.

●      Never Lose Any Information

PIM is a centralized platform that stores your product information. The main characteristics of a PIM platform are data safety and security – hence, it never lets you lose any data. Whether it is product information or a customer’s feedback, it is safe and secure in your central platform.

Conclusion

Enhanced customer experience is the key to a successful business. PIM aids businesses with enriched product information and a centralized data storage facility, ensuring no errors and data loss, be it product information or customer feedback. With PIM, you are also free of worries about data safety and security. By covering all the necessary verticals for enhanced customer satisfaction, PIM helps organizations deliver a fantastic and consistent customer experience.

More To Explore