Whether you use a Product Information Management (PIM) or Master Data Management (MDM), it's worth a serious look at how your data is organized. The goal is to bring more efficiency in your marketing supply chain and power your modern commerce needs.
How Much Flexibility Does Your PIM Have?
We all know that PIM taxonomy means being able to source, manage (centralize), and enrich product content. While we still use the term PIM for "Product Information Management", you might want to start thinking of it as "Product Experience Management."
This philosophy is one shared here at Salsify for how you should enrich your products for the e-commerce world.
In other words, you should try to make your PIM as flexible as possible for consumers who often find products through means other than traditional methods. Traditional in this sense means a consumer browsing for a product through categories.
For e-commerce, you need to expand your PIM toward enriching your products in ways that makes it faster for consumers to find what they want.
A Data Resource for Modern Commerce
Many marketing analysts recommend e-commerce businesses like yours create multiple taxonomies to help you sell your products more efficiently. The key is to make your PIM taxonomy as friendly as possible to your marketers so they can keep making your product content useful across every channel you sell on.
The 2018 Forrester PIM Wave called out Product Information Management as a tool more fit to support digital commerce professionals and their workflows than traditional enterprise data management. In the past PIM was squarely focused on content onboarding, content centralization and governance. According to the report, PIMs are bringing more capabilities (traditionally under MDM) like data management and centralization of content into the purview of business users. Learn our key takeaways from the 2018 Forrester PIM Wave.