Which of the Following Are Examples of PIM Applications?

What Is PIM and Why is it Important?

Product information management, known as PIM, is the consolidation and administration of all product information required to market, sell, and service products. It involves centralizing data and marketing materials of all types into one location so that everyone on the team has access to everything they need. This ability to share information among multiple users is essential so that the marketing operation is not compromised by files being locked by other users.

PIM is of vital importance when you consider how haphazardly many organizations handle product information management. There are various files in various folders, with nothing in place to facilitate the management of these items. This can result in outdated spreadsheets being used, obsolete marketing materials being distributed, and even old logos and color schemes being incorporated into new promotional items. It’s a messy approach, but it’s one many businesses stick with because they feel it’s easier than overhauling their entire operation. However, a good PIM makes things easier, not more complicated, and any hiccups in transitioning into a PIM will be well worthwhile.

What Are the Key Components of a PIM?

The core of any good product information management system is digital asset management. This is what will keep your marketing materials organized, ready to use, and shareable among the entire team. Don’t consider any PIM solution that doesn’t come equipped with digital asset management.

Of course, there is more to PIM software than the organization of your digital assets. A good PIM system goes beyond streamlining digital tools -- it helps you use them to their fullest potential so that you can best serve your customers when they need you the most. The best PIM software focuses on the following:

• Quality Content. Content doesn’t just happen. It’s the result of creativity, timing, and having the best materials available at all times. PIM software allows you to organize your materials so that your company always puts its best face forward.

• Content Targeting. The best marketing materials are those that speak directly to the recipient. A good PIM solution helps marketers to create multiple messages that cater to each market segment so that every consumer feels their needs are being addressed.

• Content Accessibility. A PIM is only as good as the product information stored within the system. If the necessary materials are not stored in the PIM, marketers don’t know where to look for the resources they need, which leads to them creating their own and not sharing those items with the rest of the team. However, if the PIM is used as intended, both existing and new materials can be used by the entire team, creating cohesion and consistency across the board.

• Content Governance. In a more chaotic environment with no PIM to facilitate access, there is no way to tell who should and should not be able to edit certain materials. With a PIM, companies can set parameters so that only employees who need to access the PIM will be able to do so.

Which of the Following Are Examples of PIM Applications?

There are many PIM tools in market today. Here are some of the more prominent PIM software examples:

• Plytix: The Plytix PIM incorporates digital asset management, centralized storage, and file sharing among multiple users. Plytix also features in-cell editing as seen on spreadsheets, and files can be exported in Excel or CSV format. Change logs make it easy for the team to see who has edited programs and identify anything that’s been changed without authorization.

• Salsify: Businesses who use the Salsify PIM receive many of the features offered by Plytix, but also get process automation that doesn’t require coding. Salsify is a cloud-based PIM that not only stores everything online but allows users to access files and upload information from anywhere.

• InRiver: InRiver brands itself as an ideal solution for omnichannel marketing, enabling marketers to track consumers across channels and send those shoppers the right message at the right time. As is the case with Salsify, the InRiver PIM promises business automation, as well as transparency and a customer-driven focus.

While there are many PIM solutions available, there is one PIM that stands above all others. Lumavate is a one-stop shop for marketers that functions as a product information system, a Digital Asset Management (DAM) tool, and a Digital Experience Platform (DXP). This means that marketers can store the files they need, deploy them at a moment’s notice, and track the engagement resulting from that interaction. Lumavate’s PIM is rated higher than Salsify, Pimcore, Akeneo, and many other PIM solutions.

How Much Does a PIM System Cost?

Pricing for product information management systems varies depending on the software and the functionality provided. In some cases, pricing is dependent upon how many SKUs are stored in the software; in other instances, the price varies based on how often the product data is utilized. Additionally, special features can impact the cost.

Lumavate takes a different approach, pricing its product based on the number of brands marketed and the number of unique digital experience visitors. The actual number of digital experiences, though, is unlimited at all price points. What’s more, businesses can include unlimited products under each brand they promote.

Lumavate’s PIM is priced so that anyone can give it a try. Pricing for businesses for a single brand begins at just $499 a month. Typically, Lumavate is 75 percent more cost-effective than competitive solutions, making it a tremendous bargain when compared with its more expensive competitors.