This is the second post in our PIM series
Imagine that a potential customer is browsing online for a new phone. He needs to urgently buy the phone, but as he goes on a website, say – Marketplace.com, he comes across something like the image below –
What does he do? Does he buy, or does he not buy?
We’re guessing that either the customer moves on to another site to continue to shop or goes offline for his next mobile phone purchase.
If you are a marketplace, this is clearly not good news. Your customers come to your website looking for some information, and it is your job to provide them with the exact info, in the shortest time possible.
So is there a better way to retain shoppers on your website, and convert visitors into long term customers? Happily, yes.
Product information management systems or PIM systems can help you streamline your data across all your channels. Read our post on business benefits of Vin PIM, here.
A marketplace has its own set of specific challenges, which can be mitigated via 3 distinct PIM software features:
Marketplaces often face issues with the consistency and relevance of product data, and this can negatively affect the shopper experience.
What does PIM software do? : Vin PIM ensures the availability of complete, accurate, consistent and timely data across channels. It includes:
Benefits: So what is the implication of good quality data for a marketplace? The key benefits of improved data quality are manifold –
In the example above, we can see that the product data has been leveraged to promote the complementary products to a prospect or a customer.
Keep reading for more on how PIM’s other two features can be leveraged for marketplaces.
Coming next in this series: PIM for Marketplaces Part II!
Any tips or questions for us? Leave them in the comments below.
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1 Comment on "Product Information Management – Why does it matter?"
This makes for good reading!