Your products form the backbone of your business. Selling products in the digital age requires a systematic approach and the right system support to become efficient. Being able to provide consistent, correct and high quality product data is crucial for getting your products onto the market, managing your product range, attracting and keeping customers, handling information logistics, and managing your marketing and product master data at the same time.
It would probably seem convenient to have it all in one single Master Data Management (MDM) system that gives a complete view of it all. However, if you are operating in a multi-domain context, some of your domains benefit greatly from being fast and agile, and should contain information that is easy to move across channels, whereas other domains may not have the same need for speed.
Looking at your product offering, this is a domain that obviously benefits from being fast and agile, as you want your products to reach your customers as quickly as possible. Creating a new product, or an entire assortment, and promoting it in all your sales channels, you must have product data that is fast and easy to consume and quick to move between your channels.
Your attracting channels (e.g. catalogs, direct marketing, email marketing, searches, ads etc) are driving the attention of your customers, moving them to your converting channels (e.g. brick-and-mortar stores, mCommerce, eCommerce etc.) where they can make a purchase. Making consistent information available to your customers, you will give them the trust they need to make that purchase. By managing your master-level product information in a structured and systematic way in one place, your organization will improve its business performance.
Working in a multi-domain environment, three points become particularly important when managing content and product data:
The focus of inRiver’s PIM (Product Information Management) enterprise software solution is to build your product offering so that you can enrich and relate the correct marketing information to your products - making them easily available for all your attracting and converting channels. inRiver PIM also integrates to and works with multi-domain content, like transactional, customer, supplier, BI and social content, but it is always product-centric, enabling you to move product content quickly and easily across your sales channels.
All modern data management platforms must excel at information integration and the ease of sharing information - rather than ”do everything”. It is smarter to have a master information hub for a purpose, like product marketing, and subsequently integrate relevant systems to that platform so that you can market and sell your products in an agile and efficient way.
A purpose-built information hub for product information and product master data management should have:
Efficient data import: automated processes for importing data and securing the quality of that data from other systems
Easy integration: flexible APIs for easy integration to any system
Excellent control: an integrated view of a product that is suited to that user’s rights and needs
Information history: data history that keeps track of changes to existing information
Flexible Marketing Model: flexibility, so that the platform behavior can change according to data modeling changes; the hub should represent the relationships and entities found in the data
Fast export: The platform should enable effortless export of data into multiple file formats