In the world of e-commerce, product information management (PIM) is an integral part of many e-commerce companies’ overall strategy. In a nutshell, PIM is the core element that allows a company to deliver relevant and personalized product information to its users. It’s a key enabler that allows e-commerce sites to improve conversion rates, reduce bounce rates, and increase repeated sales.
Leading providers of product information management systems and comprehensive solutions for e-commerce sites have a deep knowledge of how product information management can increase your sales and profits. In this post, we explore the ways in which product information management can benefit an e-commerce site and demonstrate how it can help your business grow.
What Are the Benefits of Product Information Management?
PIM provides an effective way to deliver the most relevant, accurate information to your customers. By automating the gathering of the information, which can otherwise be tedious, time-consuming, and expensive for companies, product information management can save a company money in the long run. It can help an enterprise avoid the time and effort involved in having to manually update product data and allow it to devote its time and energy to other parts of its business.
It’s easy to forget the basics of product information management. So, what are the actual functions it enables? Here are the benefits of product information management that e-commerce sites can expect to see:
- Improved Customer Experience — PIM is essential for delivering a great customer experience on an e-commerce site. Since PIM can give the customer the products they want, with accurate and up-to-date information, it’s easy for them to find what they’re looking for when they want it. It’s also easy for them to understand the benefits and value of their purchase. Having the right information can be a deciding factor for a customer to make a purchase.
- Improved Customer Loyalty — When a customer finds an information-rich e-commerce site, that person is more likely to find that site valuable and remain a customer for longer. Product information management provides information on how to market a product, as well as how it compares to others on the market. This data also shows how to make the most of the product, whether it be a way to make it better, easier to find or to use. Having the right product information can make all the difference between retaining customers and losing them.
- Improved Searchability — PIM is an essential part of any site that wants to rank highly on the search engines. There are millions of searches performed on e-commerce sites every single day. It’s not only helpful for customers to find what they’re looking for but it’s also helpful for the site to rank highly for the relevant queries. It gives Google, Bing, and other search engines the information they need to understand the products and services your business offers.
E-commerce companies without PIM solutions miss out on the benefits that they can provide. It’s not an add-on for e-commerce sites — it’s a fundamental element that allows companies to provide a great customer experience.