PIM and DAM platform market is rapidly expanding worldwide. We believe, in 2023, PIM and DAM platforms will become mature enough to deliver business values beyond their core capabilities.
Based on the upward growth in digital commerce in 2020-21, most brands aggressively focus on improving customer experience (CX) using product information and digital assets capabilities. Product content that was earlier seen as ‘just simple information about the product’ now significantly contributes to extending the reach and improving the sale of products and services. As a result, platforms like product information management (PIM) and digital asset management (DAM) are becoming more prominent to unlock hidden product content values.
Though PIM and DAM platforms' capabilities are clearly defined, brands are often required to finetune their current product information and digital asset management strategy to deliver the inherent values of their products and services consistently and reliably.
In the near future, the role of the PIM and DAM platforms will become crucial to building the most impactful brand stories. Moreover, brands will use the PIM and DAM systems to improve product storylines to respond to the dynamic new market and environmental factors, such as the COVID-19 pandemic. We believe, in 2023, PIM and DAM platforms will become mature enough to deliver business values beyond their core capabilities.
Key improvement areas where PIM and DAM can add more values include:
Build Next-level Product Experience
Brands will focus more on covering the complete life cycle of product content to provide a seamless experience. That’s why emphasis within the market is not only on product information management but also on product experience management. The management of product information happens before it is used in digital commerce; thus, the importance will be given more on product 360-degree view, rich product content, and unified experience whenever and wherever customers interact with brands. But this will demand better governance, management, and reusability of product information and digital assets to attain superior channel management and engaging product experience.
Pimcore enables you to enhance product experiences by providing your customers with real-time product information in consumer-facing PIM portals. The Pimcore Product Experience Portal (PXP) helps you aggregate, centralize, manage, and share every aspect of your rich product information for all channels with a single, integrated system. See here how it let your internal and external teams and partners get a 360° view of your product information.
Target Diverse Audiences and Create Micro Opportunities
Brands now have a staggering amount of highly granular product data, although it is not always available in a ready-to-use format to take instant actions. Now product data can be used not just simply targeting random people in a particular demographic; PIM platforms give the capability to translate a sea of information into more focused and actionable insights.
Brands can be more precise in distributing and syndicating product data across channels to target and reach audiences along their buying life cycle. Scaling this “smart reach” approach widely across marketing initiatives can unlock hidden pockets of growth within thousands of audiences.
Pimcore platform enables you to multiply globally and generate additional revenue through seamless product data synchronization with diverse buying, marketing, and business channels. Pimcore PIM platform offers robust data integration, standardization, content tailoring, product data customization, optimization, and product data syndication capabilities to cater 2500+ sales channels and marketing platforms. Check how Pimcore empowers you to create more opportunities.
Quickly Integrate New Marketplaces to Drive Growth
PIM and DAM capabilities now help focus on the whole-product approach to position your product by communicating the needed components (product positioning, route to market, and customer experience) to sales and service teams, as well as parties outside of your own company (specifically, customer support, service partners and resellers).
You can add more value to your marketing campaigns by using the advanced capabilities of PIM and DAM.
The Pimcore Marketplace Integration platform empowers you with direct API connections to niche, local, and global marketplaces along with built-in marketplace catalog templates, so you can expand to new markets and instantly roll out new products online. Check how Pimcore helps you expand your digital footprints.
Master the Art of True Omnichannel Publishing
Customer interactions occur across various digital touchpoints like web, mobile apps, conversational apps, augmented reality, virtual reality, mixed reality, and wearables. These interaction modalities support a seamless and consistent digital user journey.
Due to the Covid-19 pandemic, customer interactions now include no-touch, voice, vision, and gesture. PIM and DAM platforms allow brands to improve their multi-experience in the ‘contactless and voice-driven digital world’ by ensuring accurate and reliable information across devices and channels.
Pimcore's rich omnichannel publishing functionalities automatically provide the correct product information to your various output channels. Learn more about how Pimcore solves omnichannel challenges.
In Conclusion
We are at the crossroad of the historical tipping point in digital business. Pricing today is not only a critical differentiator, but today buyers also rank product quality and features, service, and scalability as even more compelling differentiating factors. With robust PIM and DAM capabilities, you can deliver incredible values to customers— which are most desired and appreciated in digital commerce.
With fine-tuned assessment, adjustment, and planning of PIM and DAM systems, we can surely seize new opportunities.
Want to know the features of Pimcore PIM and DAM systems and how they meet your business requirements? Schedule a FREE demo with Pimcore consultants.
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