The development of B2B companies is often hampered by too great a scattering of their data. Business practices that rely on traditional B2B techniques are often overwhelmed by the sheer breadth of information they need to compile and streamline. The scope of their projects is generally broader than in B2C, in the sense that B2B companies often have more references, product attributes and their data is often more technical. To maintain a competitive advantage, B2B e-merchants must stay one step ahead of the rapidly changing framework; this is where adopting a PIM solution becomes interesting.
The PIM optimizes the activity of a company and its catalog to offer an Omnichannel experience, just as much in demand for B2B as it is for B2C. This technology allows an e-merchant to present a quantity. But more importantly, the quality of compelling product information, which improves the shopping experience while reducing returns and bad reviews. Specialized in digital and E-Commerce since its creation. Agency Den’s is a long-standing partner of the Alkene solution. One of the main PIMs on the market. Through this article, we want to help you understand how a PIM tool can help you run an efficient and successful B2B online sales business.
REMINDER ON THE PIM
A PIM (Product Information Management) is a technology that aims to ensure the centralized management of a product’s information in order to distribute it efficiently and accurately. This software was designed to support companies in the creation, management and distribution of the content of their product repository to all sales channels: E-Commerce platforms (B2B, B2C, etc.), marketplaces, websites like eWorldTrade, print catalogs, etc. The PIM ensures that all the content you deploy on all your channels is up to date, constantly updated and adapted for good SEO. For a few years now, E-Commerce has experienced tremendous growth. To meet the modern needs of consumers, the PIM represents a decisive tool for companies. It allows the different teams to be organized, responsive. To have the right information at the right time and to disseminate it quickly on a multitude of channels.
Faced with the increasing digitization of our purchasing habits. It becomes problematic for an e-merchant to have product information scattered in different software and/or in several departments of the company. Since this could cause the distribution of bad data. As a result, the growth of the company could be affected. A PIM solution allows you to deploy a new product range quickly, add a new supplier. Take the necessary measures to react to your competitors and give all the keys to your employees. To help them achieve the right product offer.
PIM should be a business project, especially if you want to improve your ROI and solution costs. By involving all of your employees and the business lines of your company, the PIM will provide them with effective help on a daily basis.
B2B E-COMMERCE: A BOOMING SECTOR
Over the past 5 years, the E-Commerce sector has seen a significant increase in its international sales. The global B2B E-Commerce market has enjoyed even more impressive growth. Its turnover is six times higher than that of the B2C segment. What is the impact of this clear increase? First of all, we can see that certain trends in online sales in B2B have been positively affected. This is particularly the case for customer experience, product information management and the increase in new e-commerce product offers (M-Commerce, the rise of the cloud, Omnichannel, and complexity of digital sales channels. …).
The profile of the B2B E-Commerce buyer in 2020
Today, the typical B2B customer belongs to Generation Y. Technologies are part of his daily life, so he expects an experience that he will not forget and which will make him want to come back to your site. Thanks to the varied content that he will have encountered at all points of contact. To make his decisions, he prefers to communicate with sellers by e-mail. Doesn’t hesitate to consult several people to refine his purchases and evaluate the content that will play a decisive role in his decision-making. These elements induce longer sales cycles, which require e-merchants to be available and flexible to meet their specific needs.
PROBLEMS FREQUENTLY ENCOUNTERED BY B2B E-MERCHANTS
Unsuitable SEO data
By implementing effective SEO strategies across all of your product pages. You can boost your online store’s visibility on search engines. However, if the pages on your platform consist of unnecessary or outdated product data. It muddies your SEO results, which will negatively impact your site’s ranking. Product data must be at the heart of your strategic decisions and the SEO techniques of your E-Commerce platform. The natural referencing of your site constitutes a central element in your descriptive policy of the product references that you sell. In terms of uniqueness of content, managing thousands of product references can be complex:
Complex product data management
Adding specifications for prices, SKUs, descriptions, and images take time when you haven’t yet introduced a PIM into your workflow. If your products are misinformed, an incorrect or missing stock reference, your customers won’t get what they want when ordering. Increasing the number of returns and complaints. This situation can be all the more complex when you have a lot of product data to manage and you want to increase your inventory.
Chances are, you know you have the information you need, but just can’t find it. Some of your people may be experts on a product line, while others will take longer to find certain details and close a sale. With PIM, you always have master data at your fingertips and it’s easy for your teams to stay up to date.
Difficulties in placing the management of products and services at the center of their E-Commerce strategy
During their activities, B2C and B2B e-merchants face a major challenge. Targeting and converting buyers while finding a solution to compensate for abandoned carts. Customers in these two segments want to experience intuitive and fast buying journeys. From product research to buying action. In other words, B2B buyers are more receptive to tailor-made characteristics concerning the products they request. To the granting of precise discounts according to the volume of purchase, as well as to delivery and stock information on time. Real.
The quality of product data is of paramount importance in helping interested customers find the relevant product information leading to a purchase. Today even motivated B2B customers will leave your site if they can’t find what they want quickly and easily. B2B e-tailers must provide experience meaningful. Contextualized and rich, adapting to the device and the channel used by the customer. Some sellers can sometimes take a long time to realize the importance of these elements, which can cause them to miss important business opportunities.
Many uncertainties in the choice of a powerful PIM solution
To ensure smooth product catalog navigation, real-time buyer/supplier relationships and good visibility into your sales. You need to use powerful solutions that give you excellent control over your data. Platforms like Adobe Commerce (Magneto Commerce – the number 1 E-Commerce solution in the world) and Alkene. PIM uses innovative technologies to capitalize on untapped and growing B2B sales.
5 REASONS TO ADOPT A PIM FOR YOUR B2B E-COMMERCE PLATFORM
- More personalization for customers
B2B customers want to experience a purchasing journey that offers them personalized and quality content. If B2C personalization is now common. Recent studies have shown that personalization plays a major role in the purchasing decision of professionals. According to the Sales Initiative study. 59% of buyers say they are held back when the sales pitch offered to them is generic. To overcome this, a PIM tool represents an ideal solution, since it offers B2B e-merchants. The possibility of using a very complete set of product data in order to feed algorithms. Used to provide personalized recommendations at the right time. The PIM was designed specifically to personalize data flows according to the distribution channels (website, mobile application, marketplace, Google Shopping, paper brochure, etc.) so it allows more personalization by distribution channel.
- Quality Omni channel customer experiences
According to the Salesforce “State of the Connected Customer” report, nearly 70% of business buyers expect “Amazon-like shopping experiences” and 67% “have switched sellers for a more consumer-friendly experience”. Just like in B2C, each point of contact in B2B E-Commerce is an integral part of the customer experience with the brand. To improve the efficiency of each of these points. Quality control across all channels is essential and this is precisely where the PIM can help.
PIM offers B2B e-merchants a one-stop shop to manage necessary and sufficient product data to market and sell their goods through all distribution channels. Like their B2C counterparts, B2B e-merchants also want their customers. To be able to shop online and pick up their products in a physical store. The PIM makes it possible to concretize this desire to be on multiple sales and distribution channels while offering a coherent discourse.
- Up-to-date and efficiently handled data
B2B catalogs often contain different variants for the same product and rather large data sheets (product information, customization options, types of content and metadata, etc.). It is crucial that this data is unified and consistent across all sales channels. Knowing that an incorrect datasheet can prevent or delay an order with large volumes. Nothing is more frustrating than missing an order, without count the loss of income that follows.
The PIM helps B2B sellers eliminate inaccuracies, inconsistencies and improve the quality of their product data while building trust in their relationships with customers. So your customers can access all the product information they need while browsing your site. With the confidence that the information is correct and up to date.
- Saving time for E-Merchants and improving commercial performance
Manipulating product data in Excel can be a tedious and time-consuming task. From a business point of view, this is a risk, in the sense that it greatly increases the margin of error. Risk is even higher when several employees work on the same products. They exchange files, duplicate data and can work on an obsolete version that does not take into account the latest contributions.
The PIM simplifies the work of the sales force and makes it easier to find information to obtain an immediate response. The PIM is a working forum where each employee of the brand. It can contribute to the enrichment of data and share it with other services. As a result, everyone can have access to an appropriate and relevant response, offering excellent visibility overall product data management.
Product information enriched throughout the customer journey helps to have a higher conversion rate, to make more sales. Or even to sell the same product at a higher price. In addition to reducing the time-to-market for e-merchants. PIM also allows you to be more agile in the market, to have a single source of reference to ensure the accuracy and consistency of product information.
- Large, well-controlled assortments
Because PIM solutions can handle a complex set of databases, attributes, and relationships, they are of interest to many B2B companies. Compared to other online sales sites, B2B e-merchants generally receive larger orders. Which leads to many more references and articles in stock. The risk of error is higher when the channels are smiled, straining data management, transfer, synchronization, and ultimately the integrity of product information. PIM solutions help solve these problems by automating manual tasks. Making it easier for teams to enrich non-automatable, therefore high value-added product data. Combined with an ERP and an Adobe Commerce E-Commerce platform (Magneto Commerce). A powerful PIM solution makes it possible to improve workflows. Synchronize product data from your different areas of activity and ensure fluid data management.