What Are the Phases of a PIM Project?

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by Lumavate | Last Updated: Jul 31, 2024

Recognizing the complexity of today’s marketing, sales, and product management process is not simplistic. While technology can help, understanding how it works and what tools are best suited for a company’s specific needs can also be quite complex. Learn more about the phases of a PIM project and how to enhance outcomes.

What Does PIM Stand For?

Product information management (PIM) is the process of managing all information related to the products a company manufactures, distributes, or sells. It includes all information related to marketing, selling, and servicing those products. Most of the time, it involves a method of centralizing all product information in a single location. This enables all people who need to do so, to easily connect with that information and use it as needed. 

What Is PIM Software Used For?

For companies with dozens, if not thousands, of products, product information can become complicated and hard to manage. PIM software aims to simplify that management process. Product information management software centralizes access by storing and managing all types of product data. This may include:

It includes all data that reflects the product or plays a role in the use of that product. Product information can also include digital assets, which are the graphics, photos, how-to videos, owner’s manuals, spec sheets, and all other digital elements of the product. This can only be done if the PIM software has built-in Digital Asset Management (DAM) functionality. The best PIM solution does this.

The selected PIM solution typically allows multiple, authorized users to access the software to keep the data up to date. This can be done in real-time to ensure that the product information is always the most accurate possible. As such, it serves as a single source of truth for that product.

What Is an Example of a PIM?

There are numerous PIM solutions available today. Some of the most common PIM software examples include:

If you consider the top 10 PIM software options, it is easy to see a significant amount of specialization. The PIM tools in market all offer the ability to centralize the management of product data. Some of the best PIM software goes further to offer additional functionality.

Lumavate is the preferred solution given its robust functionality as a PIM, as well as the other features it offers, including DAM and Digital Experience Platform (DXP) features. Ultimately, as you consider these PIM software examples, you must consider which tools offer the easiest way to manage all components of your operation.

What Are the Phases of a PIM Project?

Considering these details, consider how implementing a PIM solution for the first time is often a cross-functional effort. It includes an evaluation and then selection of a PIM software solution.

While possible, it is highly not advisable to try to separate these two projects since a majority of the decisions made about how product data will be architected, who will manage the system, what digital experiences will pull data from the PIM solution, and other factors, need to be accessible. All of this will impact the requirements of a PIM software solution.

For these reasons, to ensure successful PIM implementation, take these steps:

#1: Create a Working Project Team

Many companies choose to establish a cross-functional team at this step when evaluating, selecting, and implementing a PIM solution. Because it is such a far-reaching tool, this can be critical to successful adoption.

The team should include members from marketing, sales, product, and IT, but any other group could be included if they are likely to use the PIM solution.

#2: Define All Existing Sources of Product Data and Use Product Information

It is imperative that organizations have a full understanding of what product information is being used now, as well as how it is being used. Determine where it is being used now as well. Doing this now before choosing a potential PIM solution provides helpful insight into the way this tool will work for you and allows you to know what your requirements are.

This component of the process also helps you understand how much data cleaning needs to occur once you are ready to add your product data to the PIM. This should include all of your product data and information, including digital assets such as your product images, how-to videos, owner’s manuals, and more.

Anything used for marketing, sales, and customer service must be included in this part of the process.

#3: Develop PIM Requirements

The next step in the process is to map out the ideal data architecture for all product data. This helps to define the requirements your PIM solution will need to meet. It is possible that your data architecture may need to change based on the PIM solution selected. However, the sooner you start to manage this effort, the better. Choose a PIM solution that matches as many of your data architecture needs as possible.

There are other factors to consider as well, including:

Your goal in this step of the process is to have a list of comprehensive requirements outlined so that the project team can use that information to evaluate potential PIM solutions.

#4: Evaluate PIM Solutions

The next step is all about comparing options. Your team should spend some time considering each PIM solution based on how well they meet your needs, but also on how each solution will align to meet the goals you’ve outlined thus far.

#5: Select a PIM Solution

Once all information is obtained from all sources, it is then possible to make a selection. Again, it is critical to do due diligence before making a decision, considering not just costs and features but also the entire implementation process.

#6: Finalize and Implement Product Data Architecture

In this step, your team will reevaluate their proposed product data architecture based on the functionality of your selected PIM solution. Your team may have purchased professional services from the PIM vendor to help at this point of the process.

Once you reach the end of this step, you should have finalized product data architecture that will then be used in the PIM, and the data architecture should be set up in the PIM solution.

#7: Add Product Data to PIM

This step involves adding all of the collected product data into the PIM. This is done based on the product data architecture. This is also a good spot to identify any major missing data gaps. Create an action plan at this point on who and how these concerns will be taken care of. This way, you can create a plan for how this data will be accessible later.

#8: Finalized DAM Tags and Add Digital Assets

The next step involves setting up the tag structure for the DAM functionality within the DIM. Not every PIM solution offers the ability to tag digital assets, which can be a limitation for some organizations.

That is one of the benefits of working with Lumavate. It allows this functionality and, as a result, it can significantly enhance your management of these valuable assets. All product-related digital assets should be uploaded into the DAM portion of the PIM when used.

#9: Tie Marketing and Sales Materials to PIM

This component of the process takes more time. It is a more complex process but a very valuable one. It happens concurrently with the steps below because of the potentially vast number of resources that need to be updated and then pulled into the new PIM solution.

Work through this process methodically. Lumavate is a full Product Experience Management Platform (PXM), and it includes a built-in Digital Experience Platform (DXP). As a result, it allows marketers to build digital experiences tied directly to the PIM in just minutes. That can be critically beneficial throughout this process.

If you choose Lumavate with this built-in functionality, this step in the process is streamlined, efficient, and only takes a matter of minutes to complete.

#10: Train Employees on How to Access DIM Data

Once everything is in place, you need to train your team to use it. Provide access to those who should have it, which generally includes your marketing, sales, product, and customer service team. Some of your teams will be responsible for just creating, managing, and using product data in the PIM solution. A comprehensive training plan should be drafted for each audience type.

#11: Continually Update Product Information

The next step is what keeps everything moving forward. You will need to establish a product information owner that will maintain and ensure all product data is kept up to date. This needs to be done on a regular basis. Some companies value this enough to have one person handle the task, but in large companies, multiple people will need to manage it.

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