Consumers today want endless product choices, control and personalization. These digitally-empowered shoppers are accelerating the push to omnichannel and driving businesses to deliver differentiated experiences. The task of turning “browsers into buyers” often hinges on making products easier to find and showcasing their best features. Therefore, businesses are turning to Product Information Management (PIM) and Digital Asset Management (DAM) to satisfy the consumer demand for compelling product content.
In this post, we’ll dive into how PIM and DAM software form a content and rich media “match made in heaven,” particularly for those focused on strengthening their digital business or pushing an ecommerce strategy. And really, isn’t that just about everyone these days?
Why Is Digital Asset Management So Important?
We’ve talked a lot about the role of PIM in helping businesses achieve cross-channel integration, as well as managing the data necessary to better understand customers and how they prefer to shop. But what impact can DAM software make?
Customers want a rich buying experience, and most are more likely to complete a purchase when they can view images or videos of the product. Furthermore, they also want access to an assortment of media options post-purchase for product satisfaction and support (such as videos, tutorials, advice and testimonials). All of these media assets must be managed and stored similar to other data domains.
DAM allows businesses to easily store, categorize, and manage unstructured content such as images, audio and video files as well as other documents related to products and product catalogs. For example, a DAM solution can:
- Localize assets for markets, brands or languages.
- Reduce costs and complexity of redundant storage.
- Drive compliance and correct usage of assets.
- Control and protect the brand through security and workflow.
- Reduce time to deliver to third parties and customers.
- Improve efficiency and quickly find, organize and convert digital assets.
DAM & PIM: Working Together
According to the Forrester report, PIM Is A Cornerstone Of Your Digital Business, “in a digital context, success means providing customers with the right piece of content to move them along in their journey.” The report goes on to note that DAM and PIM work together in two critical areas: to support the customer experience and drive operational excellence.
PIM helps ensure product information is accurate, up-to-date, and easy to find. Meanwhile, DAM helps satisfy customer demand for differentiated product experiences. For example, the Forrester report points out that “customers want to easily examine products, compare them with others, and get validation from their peers.” And, “firms need to offer short-form product videos, multiple high-definition images, peer reviews, product visualizations, and side-by-side comparison tools.”
Overall, a powerful and flexible solution based on PIM and DAM is the key to a successful ecommerce and digital transformation strategy. Together, this dynamic duo enables businesses to:
- Provide a wider product assortment with an “endless aisle” strategy
- Make products searchable and easy to find, with enhanced attributes
- Onboard products quickly
- Work seamlessly with suppliers and vendors
- Reduce time to market and scale globally
- Comply with regulations
- Provide greater product transparency
- Tell a compelling product story with content and digital assets
- Improve customer satisfaction and reduce return rates
- Lower costs and improve efficiencies across the enterprise
- Build brand awareness and loyalty
And really, that’s just the beginning. Because the right PIM and DAM solution can not only meet your current needs, it can place you on the path to long-term digital transformation.
Finally, it’s important to note that while Digital Asset Management and Product Information Management make a perfect pair, even a stand-alone DAM solution can help you begin managing your media assets. Particularly when it’s developed and driven by PIM experts like EnterWorks.
Contact us to discuss the role EnterWorks’ market-leading PIM and DAM solutions can play in your digital transformation.
PIM Is A Cornerstone of Your Digital Business. Why Customer-Obsessed Firms Need Product Information Management. By Nasry Angel © Forrester Research (January 18, 2017)