Setting up a PIM solution is not necessarily difficult from a technical standpoint. With a SaaS solution like Akeneo, all the key features are available and there’s not a lot that cannot be done. However, the challenge often resides in knowing what data needs to be gathered, where it is stored, and how it should be organized in the future.  

How do you define a product?

One of the starting points when starting a PIM project is to successfully define a product: what are its features? What makes it different, unique, and recognizable? Quite often, there are some obvious ideas which come first, like a name, a picture, a description. Sure, that’s the basics of pretty much any product.  But what happens when you start looking at more technical products, how they should be used, in different conditions. Products with variations. Products which inherit features depending on where they are produced or what certifications they might have. A complete and well-defined product can be a lot more complex than what one would originally imagine.  Products which are sold to different end targets (B2B vs B2C for example), via different channels (web vs. print vs. social), on different markets (like entering new countries) will require different levels of information and sometimes, variations of one same original information. This is where the strength of a PIM comes in. The ability to manage such subtle differences, layers of information, channels, makes all the difference when compared to a basic database solution such as Microsoft Excel.  

It’s all about the data!

Often when a company implements a PIM solution, it actually has a lot of product information. The reasons that lead a company to choosing a PIM is often related to a data issue. The information is somewhere, maybe spread across various tools. We quite frequently see companies that have many channels of product data: maybe their website, perhaps data sheets… Anomalies on these channels, such as product information errors or manual, tedious updating are telling signs that a company might be better off with a PIM solution.  In fact, any company which produces product data sheets has a great starting point for PIM implementation. Looking into how these product sheets are produced, where the information is stored, and who has the knowledge is a valuable exercise when considering setting up a PIM solution.   

Test-drive your PIM with print connectivity

If you look at it the other way, a great way of testing your PIM setup is to leverage digital publishing and generate a product sheet based on your product information. “Am I able to create a print-style document out of the information I have, and the product features I’ve identified?”  If the answer is yes, you’ve probably done good work. If it proves difficult, then perhaps there is data missing or data that isn’t structured in the best way for use on multiple channels.  Setting up a PIM solution should always be done with applications in mind. It can be a little mind-boggling when a product has many features, or complex uses. But it is good to have some key questions in mind all the time:

• How do my customers access product data?
• How do they consume this data now?
• Is this the way they want to be fed product data or is this just the way we’re feeding them data now? 

These questions cannot be answered just by using a PIM of course (even though the Akeneo team provides a lot of best practices) but using PIM-to-publishing tools is a great way of testing your product information, to make sure it is set-up in a way that can translate into an actual deliverable for the end consumers of the product data.  

5 steps from digital to print to test your PIM

A typically efficient exercise involving a few steps could be: 1. Work with your customers on what data they need and how they want to reach it. Acquire feedback, understand pain points. 2. Design the “perfect” product data sheet, based on the feedback collected. 3. Generate a data sheet based on you current PIM structure using a digital publishing solution 4. Compare with the “perfect” version and establish where there might be limitations coming from the PIM 5. Adjust the PIM content and/or structure and reiterate steps 3-4-5 This simple cycle is a simple, cost effective, and agile way of testing your PIM and making sure it is efficiently set up for your use cases.  Generally, if you can generate print type documents, which can be very comprehensive, then your PIM is going in the right direction for other applications too, such as connecting to other data systems, websites via API, etc. This type of proof of concept is highly recommended before starting to fill the PIM with product information on a large scale. A little time spent at the start can save huge amounts of time further down the line.  If you decide not to spend this time working on a simple POC, you could fall victim to one of the most common traps of data management, often referred to simply as “Shit in, shit out”. Meaning if you fill a PIM with poor information or try to fit product information into a PIM solution which isn’t correctly structured or set up, then any output coming from the PIM will be ultimately poor, and in some cases, completely useless.  

PIM to print solutions: how far can you go?

If you have the data, the sky is the limit! Producing very complex print documents can be done using digital publishing solutions. A product data sheet is a great first step, but one can go a lot further, like generating complete catalogues from PIM data. For multi-page documents, such as brochures and catalogues, production and approval times can be very long. No customers want to receive the “latest catalogue” with all the new products missing. To make sure the document is up-to-date and produced in a reasonable timeframe, PIM to print solutions are the only way forward.  

A few key points to bear in mind

What you should remember when considering your PIM project:

• What data do you need and where is it stored?
• What are your applications?
• Remember to test your PIM – and when it comes to proof-of-concepts, digital publishing is a thorough and effective way of testing
• When it comes to complex print requirements, PIM to print tools are the only effective solution

Curious about how a perfected PIM can be seamlessly integrated into YOUR workflow? Take a few moments and click here to watch a video talk about collaboration and agility with Akeneo PIM, showcased by our customer SWISS KRONO GROUP, Unic as the system integrator and InBetween Deutschland as their print partner.

For most software companies, proprietary licensing is big business. Organizations buy the rights for one, ten, or a hundred copies of the software. It’s delivered and deployed, and there’s no need for developers—the source code is protected by all sorts of legalese and restrictions. 

But there’s another way: open source software.  

Today, open source is everywhere. Some of the most well-loved programs are open source, including the Mozilla Firefox web browser, Linux operating system, VLC Media Player, and, of course, Akeneo. It’s even made its way to some of the most commonly used business solutions: digital asset management software.

 

What is DAM software?

Digital asset management software helps you organize, track, and share your digital assets across the entire content lifecycle. Digital assets include anything that is needed to identify, market, and sell your products, including written descriptions, photos and images, videos, logos, graphics, and typefaces. DAM can also include sales presentations, RFPs, spreadsheets and other documents, as well as product data like design files and models. 

DAM software provides a single point of access to all of your organization’s digital assets, across departments and around the globe. It often integrates with your product information management (PIM) software, supplying the assets needed to market and sell your products. Integration between PIM and DAM is ideal: it allows organizations to increase efficiency, improve the customer experience, and boost revenue. 

No matter how you choose to use it, DAM is quickly becoming an essential tool for large enterprises with many products and a lot of digital content.

Common features of DAM software

There are many different types of DAM software: open source or proprietary, cloud-based or on-premise, integrated with PIM or stand-alone. However there are several core features that exist in top-of-the-line DAM software tools. 

• Ability to upload, download, and share digital media assets and documents both individually and in groups
• Storage of multiple file types including images (jpg, png, gif); video (mp4, mov, wmv); audio (mp3, wav); designs (psd, ai, indd); and documents (pdf, docx, xlsx pptx, zip)
• Ability to resize assets and save them as new file types
• Customizable metadata including keywords and descriptions
• Ability to search by category, keyword, and more and preview files
• Access and permissions controls
• Version tracking and control
• Collaboration tools

Benefits of DAM software

When your digital asset management software has all of these features, it becomes a true “hub” where your teams—particularly marketing and sales—can find what they need, when they need it. That leads to numerous benefits, such as:

• Better collaboration between teams
• Improved accuracy in product information
• Easier product data syndication via automation
• More consistent brand presentation
• Faster content creation and time to market
• Better ROI on marketing campaigns
• Increased operational efficiency 
• More value for your customers 

What is open source DAM software?

Open source digital asset management software simply means that the source code is publicly available. All users can access and make changes to the source code, like adding or removing certain features or integrating it with their existing ecosystem. 

The opposite of open source software is called proprietary software. Users can’t see or modify the source code in proprietary software, so the only customizations available to them are those set by the vendor. Because SaaS operates in the cloud, it has traditionally been proprietary, and doesn’t provide users with any executable files. Open source SaaS aims to change that by allowing the user to choose between customization or a more traditional model. 

Benefits of an open source DAM solution

The fact that you can see and modify the code of open source digital asset management solutions gives certain businesses many advantages, including greater agility and creativity, which can be especially valuable for larger organizations. While not perfect for every organization, an open source DAM tool can offer certain functionality that a traditional commercial offering often can’t.

Customization

The biggest benefit of open source DAM solutions is their customizability. With access to the source code and files, programmers can build or remove nearly any feature they desire; you can create your own workflows, integrate with your existing technology, exercise more control over how files are stored and shared, and more. It’s the best option for organizations with specific needs.

Scalability

Content is still king: There are more channels, content types, and personalization options than ever before. Many organizations are managing hundreds of millions of digital assets with increasingly large file sizes, making the scalability of open source DAM software a big plus. Because you can create your own workflows and decide how you will store and manage your files, you won’t be boxed in as your organization—and your digital asset library—grows.

Innovation

Open source software attracts a community of like-minded programmers with a common interest: To make the program as useful as possible. Yet this community will also come from a wide variety of backgrounds, industries, and experiences, bringing different perspectives that can help accelerate innovation and create DAM software that is a leader in its space.

Support

The same community that provides constant innovation and new ways of thinking also doubles as a support team. Many open source DAM systems have active, highly collaborative communities that provide guidance and help each user get the most from the software. Thanks to hundreds or thousands of programmers working together, open source software also releases bug fixes faster than proprietary software, which only has a small team of support specialists.

Lower cost

Because SaaS is cloud-based, it’s lower-cost than hosted data centers, which require on-premises hardware and large IT teams. Open source SaaS is even more affordable, as there typically aren’t any licensing fees. While you’ll likely still pay for storage, proprietary software comes with both storage and licensing costs. And because open source DAM solutions are so customizable, you’ll also save resources through efficiency. 

More choices

Most open source DAM software today has an “out-of-the-box” version that can be set up quickly and easily. From there, you can choose to use the default features without making any changes, or you can leverage the open source licensing to customize your solution. That makes it a good choice for both smaller organizations, who may want the ability to customize in the future, as well as larger organizations who need to hit the ground running, but also want the ability to make changes. 

Drawbacks of an open source DAM software

Though helpful for many organizations, open source DAM solutions are not the right for every team. Let’s take a look at a few reasons why a commercial DAM tool may be a bitter fit for your business.

No personalized support

Though open source software often comes with an extensive network of developers to rely on, there is no direct support or service team there to support you if you have questions or concerns. That means no user manuals, no tutorials, no support reps, and that can be quite daunting to a team that may not be the most technically adept.

Usability

Often, commercial DAM tools are easier to use and have better UX design because they will have teams dedicated to this purpose. On the flip side, open source solutions are often built by developers who focus on functionality rather than usability, so even though it may technically be able to resolve the issue you’re looking to fix, it may be overly-complicated or require more time to set up and learn.

Potential security risks

One of the best benefits of open source technology is that it’s collaborative and open in nature; but that’s also one of its biggest potential pitfalls. With literally anyone able to update the code at any time, there’s always the risk that someone comes in with malicious intent. Though it’s rare, it’s something that does happen, and is something you should take into serious consideration when evaluating DAM tools.

So what’s the best digital asset management software: open source or proprietary? While the answer depends on what your organization is looking for; while open source DAM technology may fit your needs best, it’s not for everyone, and you should explore all options before making a decision.

At Akeneo, our PIM software has been a native OpenSaaS cloud application since 2017, deployed on the secure, reliable Google Cloud platform. Our API-first approach means you can easily connect your DAM software to our PIM and integrate other technology, too, for an omnichannel product activation strategy that provides a seamless customer experience from start to finish. If you’re ready to learn more, check out our article on how open source PIM and DAM systems work together and why this integration could be the foundation of your success.

Have you ever tried to walk a tightrope, balance on a balance beam, or juggle three balls in the air at a time? You may have an idea what retail price management feels like.  But unlike a circus act or street performance, price list management isn’t a sideshow—it’s one of the most important elements of retail eCommerce. And while it can be a balancing act, once you master it, your organization can reach new levels of profitability.  You don’t have to go it alone. Performers have instructors. Gymnasts have coaches. And retailers have price management software to help them. Here’s everything you need to know.   

What is price management for retail eCommerce?

Retail price management is the process of determining the value of your product. Finding the optimal price involves more than just simple math. You need to know:

• Business revenue and profits
• Competitors’ pricing
• Costs of production
• Market trends and analytics
• Value to the consumer

Effective price list management keeps a finger on the pulse of supply and demand, as well as trends not only in your industry, but in other industries and in current events. Who could have predicted that exercise bike and laptop sales would go through the roof during the lockdown—or that jeans and skirt sales would rise as we emerged? Businesses with good price management strategies, that’s who.  Retail price management is a key part of building a winning sales machine. It’s also more than knowledge—you need processes in place to turn that data into pricing. As we’ll see later, that’s where price management software comes in.  

The main components of a price

Price list management goes beyond the end price that you charge the consumer. You also need to manage these components:

• Supply and demand. Material shortages, plant closings, increased competition, demographic shifts, new technologies, and economic fluctuations can all affect your supply and demand. This creates “pricing pressure” that drives prices up or down, and it’s essential to be able to predict and leverage this pressure.
• Marketing and value. Your product’s value goes up and down based on how your customers perceive it, rather than how much it actually costs you to make. If they are willing to pay more, you can charge a higher price than your competition. After all, a Samsonite suitcase and a Louis Vuitton serve the same purpose. 
• End-user transactions. Knowing when to apply discounts, rebates, and other incentives is a transaction-level decision, as supply and demand vary by location. Mismanagement at the transaction level can cost enterprise businesses hundreds of thousands, yet it’s often a neglected part of retail price management.

 

Retail pricing strategies

There’s more to product and price management than simply choosing the lowest price that allows you to still make a profit. Here are the most common retail pricing strategies:

• Cost-based pricing. While you’ll still take into account the demand side of the equation, in this model your pricing is determined by adding a profit level to your base cost. This will give you the price floor and price ceiling for your product, or the lowest and highest prices you can charge. Most organizations will then set the optimal price somewhere in between the floor and ceiling. 
• Competition-based pricing. It’s always smart to keep an eye on your competition, but if your product has similar features as others in a highly competitive market, you might choose this price list management strategy. This strategy can work well for newcomers to a market, but businesses will need to closely monitor competitor pricing while ensuring they still make a profit. 
• Value-based pricing. This strategy puts the emphasis on how much customers value your product. It’s a bit more involved, as finding out what your customers are willing to pay takes research, data, and trial-and-error. It also doesn’t necessarily mean you’ll become the next Gucci—simply that you may be able to charge at least a little bit more than your competitors because your customers correlate your brand with an intangible benefit.

There’s a lot that goes into retail price management. With price management software, you can use elements of all of these strategies to optimize your product pricing.   

What is price management software?

Price management software is a tool that allows businesses to set the optimal price for their products. It will help you create, analyze, manage, and refine your pricing strategies, as well as track your current prices so you can see how they impact your margins and profitability. It will also allow you to share accurate, consistent pricing across all of your channels, an important part of product syndication.  So why use price management software? The simple answer is that it can improve your revenue and profits, especially as you scale and add more products. More specifically, it can help your organization:

• Give customers the information they want
• Increase efficiency with automation
• Quickly apply updated pricing changes across the board
• Stay agile in uncertain market conditions
• Reduce margin erosion
• Reduce errors and delays that cut into profits
• Scale complex, global pricing strategies

 

Finding the best price management software

Most eCommerce companies find that a retail price management system is a vital part of their digital ecosystem. You’ll want to look for one that:

• Integrates with your customer relationship management (CRM), enterprise resource planning (ERP), product information management (PIM), and configure, price, quote (CPQ) solutions, among other technologies
• Has defined workflows and a clear procedure for determining price changes
• Can scrape data for the products, regions, currencies, and languages you need
• Builds logical, flexible strategies based on demand patterns, elasticity, and more
• Includes a self-service option to choose your own variables and create custom pricing
• Alerts you to important price management developments
• Brings everything together in a cohesive, easy-to-use dashboard

 

Integrating price management and product information software

A comprehensive price management system lets you ditch the spreadsheets and create a more holistic strategy across all of your locations, channels, and audiences. But it doesn’t exist in a silo. Price management software is designed to integrate with your tech stack, and can be a crucial part of your overall product information management (PIM).  PIM software allows you to improve your data quality and consistency across all of your channels, making it a keystone of digital commerce. With the right information at your fingertips, including pricing, you provide a better product experience, and that provides a better customer experience.  It’s all a part of what the Akeneo team calls product experience management (PXM), and it’s the foundation of what we do. Want to know more? Read more about PXM and learn how PIM can benefit your business.

If there’s one thing most people associate with the internet, it’s a search. “Google” has become a verb, and is synonymous with finding information from just about any source. It’s the first company that comes to mind when many consumers think of the internet.

But search isn’t just about internet-wide search engines like Google. It’s also crucial that B2B business and B2C companies alike offer search tools that can help consumers navigate their own eCommerce or mobile shopping experiences and find the specific products they’re looking for at a moment’s notice.

Building a site search function can be a complex and challenging process, one filled with product data-related pitfalls and site performance issues. That’s why Akeneo teamed up with our partners Algolia and Capgemini to create this exhaustive list of tips, tricks, and best practices to help you master all that site search has to offer. Plus, we’ll dive into exactly how a PIM solution can set you up for success.
 

How site search impacts your customer experience

Search and discovery is at the heart of great customer experiences. Consumers want and expect to be able to search for products easily on any eCommerce site or other shopping platform. Up to 30%of all visitors utilize a search box when offered. Plus, giving this large, ever-growing percentage of consumers a good site search experience can go a long way toward boosting conversion rates: according to the same study, site search is 1.8x more effective at producing conversions.

Site search can also have a big impact on the product experience that you offer to your consumers: two-thirds of shoppers say that they have abandoned their purchase due to a bad product experience, and almost 70% of shoppers say that poor search experience is a poor product experience.

But it’s not just about offering a search tool — the searches you provide have to be accurate and provide a compelling list of products to customers. Solène Le Saout, Manager Partnerships EMEA  at Algolia, noted that bad site search offerings, “threaten growth and disrupt the customer journey,” and researchers have found that a 12% of shoppers will bounce to a competitor’s site after an unsatisfactory search.

Finally, search goes beyond the search bar. A capable search solution will also power your Category pages – or Product Listing Pages – where the key criteria of a great search are also critical for a highly converting shopping experience.
 

What good site search means

Site search is clearly popular with consumers, and a valuable resource for retailers — but most companies are falling short of consumer expectations. The frustration involved in the overall product search experience results in an unacceptable level of churn and burn: to the tune of 68%, according to Forrester.

So, how can you build a satisfying site search tool? According to Akeneo partners Algolia and Capgemini, it’s all about finding a platform that fits your needs — both now and in the future. “Your customers are looking for an intuitive and immersive experience when they access your website,” according to Solène Le Saout. “Your job is to anticipate their needs, help them easily find that product, complete the purchase, and come back.”

Your solution should provide a wide range of features that can help you provide an advanced search experience both now and as your site continues to grow. That includes strong analytics tools to help you understand your customers and refine your sales channels, as well as customization tools to ensure customers see exactly the results they’re looking for. Your site search platform should also perform reliably, quickly, and easily with features like typo tolerance, suggestions, filters, synonyms, and multilingual options.

A good site search solution will also be built on a strong foundation of reliability and security, meaning that it should offer security features like SOC 2 and SOC 3 compliance, API keys, cluster isolation, and multi-tenant architecture. It should also provide a reliable infrastructure that requires very low if not no oversight from your developers, along with a support team dedicated to handling a wide range of site search issues. That way, you can be sure that not only your search tools are never down or offline, but your engineering team spends time on iterating and innovating on your product experience rather than maintaining a complex infrastructure.
 

Why good product data is crucial for site search

Having a good site search platform alone is not enough, of course. Jérémie Devie, Business Analyst at Capgemini notes that, “A foundation of solid product data is needed to answer your customers’ needs and increase conversions.”

This includes having the right attributes to ensure your customers’ searches don’t bring up the wrong product, instituting good data governance policies, and enriching product titles and descriptions with relevant keywords. It also includes ensuring your data is consistent and accurate, as well as correctly categorizing your product information.

In order to do all of these things and provide the best product experience possible, you need a strong solution to help you collect, standardize, enrich, contextualize, and distribute your product data — like Akeneo PIM! Akeneo PIM is designed to help you take control of your product data and provide superior product experiences for your customers through the power of features like site search. Reach out to an Akeneo expert today to see how our PIM technology, together with our extensive network of partners like Algolia and Capgemini, can help you provide exceptional product experiences through site search.

“The future of commerce is customer journey based and channel agnostic.”

 

It may be common knowledge that customers prefer frictionless digital commerce experiences and businesses typically desire streamlined processes that minimize redundant work. But in reality, providing consistent and compelling experiences to customers on every single channel can feel like a pipe dream to many organizations, especially as new channels and marketplaces emerge at an almost constant pace. In order to meet the demands of today’s consumers, businesses must shift their focus to a customer journey-based approach that is inclusive of all channels. This means that businesses will be able to provide a consistent and relevant experience to customers regardless of the channel they are using, whether it be an online marketplace, social media, or a physical store.  By understanding and anticipating the needs of customers at every stage of their journey, businesses can create a coherent, personalized experience that will keep them coming back for more. While this is great in theory, it falls apart when we realize that most organizations aren’t anticipating the needs of their customers; they’re reacting.  

Proactive Customer Experiences

Many digital commerce brands struggle to deliver on their Customer Experience (CX) goals because most internal metrics focus on how well teams react to customer friction points rather than on proactively preventing friction from the start.  These same organizations also tend to struggle to create positive customer experiences that persistently influence beyond individual encounters in various, disparate channels. Venturing into new, unfamiliar channels of commerce can be a potentially high-risk, expensive, and time-consuming endeavor if not well controlled. This is true whether the channel is a physical store, marketplace, social media platform, eCommerce site, or new geographical territory. So, the question becomes, how do these brands and retailers maximize results and reduce expenses, all while proactively providing a consistent and compelling customer experience? The ideal approach to CX incorporates proactive strategic use of digital solutions to set the stage for brand engagements. Enterprises can reduce the workloads of customer service and marketing teams via the consistent delivery of accurate product and brand information across all relevant digital channels and customer touchpoints. This is where Product Information Management, or PIM, comes into play.  

PIM: The Foundation for CX

The problem that PIM solves is relatively straightforward: many companies with low or intermediate levels of digital maturity need help getting and staying on top of the developments within the retail landscape, especially after a global pandemic.  PIM can simplify all aspects of product catalog management, creation, and syndication, creating a reduction in user friction points. If the PIM system in question has an excellent, human-centered user experience (UX) design, the amplification of team productivity will be noticeable immediately. Teams can spend less time on “busywork,” like manually resizing images per the specifications of various social media platforms, and spend more time strategizing their creative assets to engage in the customer experience and enhancement of customer’s journey with the brand. A PIM solution allows businesses to maintain a single source of truth for their product data, reducing the need for manual labor and expediting time to market. Without it, they may have difficulty maintaining a central product catalog, resulting in incorrect, incomplete, or outdated product data that cannot be easily distributed across conflicting channels.  PIM can help businesses simplify the process of producing a consistent, branded CX across all digital channels, and is a crucial first step toward a coherent omnichannel commerce strategy.  To learn more about how PIM can act as the foundation for providing omnichannel customer experiences, download the IDC Spotlight today, or reach out to an Akeneo expert to see how we can help.

The retail industry is constantly evolving and adapting to new technologies and trends. One of the latest developments in this field is the use of ChatGPT and other artificial intelligence (AI) technologies to create omnichannel shopping experiences. ChatGPT is a powerful AI system that can understand and respond to human language that uses natural language processing (NLP) to understand and respond to customer queries and requests. This technology has the potential to revolutionize the way we shop online, making it easier and more convenient for customers to find and purchase the products they want. In the retail industry, ChatGPT and other AI technologies can be used to analyze customer data and create personalized and seamless shopping experiences for customers. And it’s not just AI; retailers are also looking to other innovative technologies such as augmented reality, virtual reality, and voice assistants to provide a more convenient and efficient shopping experience. These technologies can be used to answer customer queries, make recommendations based on previous shopping behaviors, and even complete transactions. Think this type of technological innovation is too far off in the future for practical, everyday use? Think again.  The introduction to this article was written entirely by ChatGPT, with only slight modifications. The quality of ChatGPT’s language processing is lightyears beyond what had been available to the public previously, and should propel one thought to the forefront of everyone’s mind: innovative AI technology is not just coming down the road, but is here. And here to stay. So with this immutable fact more apparent than ever, it’s time we take a look at how this affects the retail landscape and shopping behaviors, and what brands need to do to take effectively utilize groundbreaking technology to create omnichannel customer experiences (hint: it starts with your product information).   

4 Use Cases for Artificial Intelligence in Retail

1. Chatbots

One of the best examples of AI technology already thriving today is the use of chatbots on retailer websites and social media platforms. Chatbots are growing faster than any other brand communication channel, seeing a usage increase of 92% between 2019 and 2020. Powered by AI technology like chatGPT, chatbots can provide personalized recommendations and assistance to customers based on their interests and preferences as they browse and shop online.       International meal delivery company, HelloFresh, does this well, utilizing AI technology to connect with and engage their customers. Meet Freddy, their chatbot that discusses eating preferences and new recipes with their users whenever it’s time to order a new box. They even provide quizzes and food-related questions, as well as recommend playlists that match the mood of the dish you’re creating.   As AI evolves and becomes smarter, more personalized recommendations can be made based on stronger analysis of customer behaviors and decisions. And chatbots can add a certain human element to this process by giving the feel of communicating with a real person.  

2. Personalization & Targeted Marketing

 Many brands and retailers are using AI to analyze customer data and create targeted advertising campaigns that are more likely to be successful. An eCommerce site can now use AI to analyze a customer’s previous purchases and browsing history, and then serve up ads for products that are similar or related to those items, providing a more bespoke shopping experience. A great example of this is the behemoth itself, Amazon. Every time you log on to your homepage, one of the first things you see is a row of boxes, advertising items you’ve most recently clicked on, purchased, or shown interest in.    

3. Immersive Shopping Experiences

AI is not the only field of technology that’s made leaps and bounds over the past few years; Artificial Reality (AR) and Virtual Reality (VR) is similarly changing the retail landscape in a drastic way by allowing brands to provide a more immersive and interactive shopping experience than ever before.  With VR, customers can “try on” clothes and accessories without ever leaving their homes, and AR can be used to help customers visualize how products will look in their own homes before making a purchase. This can be especially useful for big-ticket items like furniture, where customers want to be sure they are making the right decision before committing to a purchase. Swedish home goods manufacturer and retailer, IKEA does this extremely well; the IKEA Place App allows users to virtually place furniture items in their own homes and to see how the product will fit in the space.      This immersive experience provides a number of benefits to consumers; with a much better idea of the size, shape, and color of the item, customers are able to purchase with more confidence than ever before, resulting in reduced returns and satisfied, loyal customers.   

4. Streamline internal operations

In addition to these direct benefits for customers, Artificial Intelligence has the potential to streamline and improve the behind-the-scenes operations of brands and retailers. For example, AI can be used to analyze data on customer preferences and behavior to help retailers make better-informed decisions about inventory management and marketing. Not to mention how this technology can be used to improve the efficiency and accuracy of warehouse and fulfillment operations. For example, some retailers are using AI-powered robots to sort and move products within their warehouses, which can help to reduce the time and effort required to fulfill orders. Similarly, shipping routes and delivery schedules can be optimized, which reduces costs and improves the overall efficiency of the supply chain.  

Product Information at the Foundation

So what do all of these retail experiences have in common, other than their use of advanced technology? They all require product information, reliable product information, in order to operate at the highest caliber. Let’s go back to the HelloFresh example quickly; if the proper recipes aren’t tagged as “vegan”, then when a customer asks Freddy the chatbot for vegan recipes, then it’s going to be a disappointing experience when they get served up a beef stew recipe. Or Amazon and their personalized, targeted ads. If they tracked that I’ve previously searched for “brush”, their product information management must be strong enough to differentiate between “hairbrush”, “toothbrush” and “pet hair brush” to ensure that they’re advertising the correct product.  The use of ChatGPT and other AI technologies is revolutionizing the retail industry by providing customers with omnichannel shopping experiences that are personalized, convenient, and efficient, and that’s exciting. But the big caveat is that your product information needs to be optimized and up-to-date before you can take full advantage of these advancements.  Colloquially, it’s a “shit-in, shit-out” situation; if you provide bad product data, it doesn’t matter how advanced the machine learning algorithm is or how advanced the technology has become. The product experience will fall short. ChatGPT marks a bountiful leap forward when it comes to Artificial Intelligence, and demonstrates just how quickly and frequently the space is evolving. The organizations that are able to embrace this new wave of technology and build the foundation of product information to support it are the ones pushing the boundaries of innovation, with the highest profits and the most loyal customers. And in case you were wondering, no. ChatGPT did not write this conclusion. Looking to incorporate AI into your omnichannel product experience strategy, or just looking to take your first steps into centralizing product information? Reach out to an Akeneo expert today to see how we can help.

Has anyone ever told you to raise your standards? Chances are, it was in the context of relationships or your career. But it’s also advice that your customers have been following—especially when it comes to their eCommerce buying experiences.

 If you’ve been feeling like customer expectations are on the rise, you’re right. According to a Salesforce survey, 73% percent of customers expect companies to understand their unique needs and expectations. Yet only 64% trust that companies will do so.

Among other challenges, the digital transformation has ushered in an age of instant gratification as our attention spans decline. Customers expect fast, frictionless experiences, especially when it comes to eCommerce. The good news is that the shift to digital has also brought advances in technology that can help you deliver what your customers may want. Two important pieces of the puzzle are product information management (PIM) and product lifecycle management (PLM) systems.

 Decision makers often wonder about the differences between PIM vs PLM—and whether they need both. We’ll cover everything you need to know to make the right choice for your business.

Product Information Management Definition

Product information management, abbreviated PIM, is the process of collecting, sharing, and distributing your product information across your internal teams as well as your external sales channels and catalogs. PIM capabilities include importing data from various sources such as your other platforms, as well as your suppliers, and providing various ways for you to classify, track, enrich, and syndicate that data. The goal of PIM is to ensure accurate, complete, and consistent product information across all owned and unowned platforms and channels.

Product Lifecycle Management Definition

Product lifecycle management, abbreviated PLM, is the process of collecting and organizing internal data so that you can track and predict the lifecycle of a product. PLM capabilities mostly involve providing a database for data such as CAD files, parts and inventory information, bills of materials, and other technical assets. The ultimate goal of PLM is to organize internal information, which increases efficiency and allows you to get your products to market faster.

Similarities Between PIM and PLM Software

While there are a lot of differences between PIM and PLM systems, there are also some similarities. Both provide a single repository for product information and data. Both can be integrated with other software and systems in your tech stack, which can enhance them. And both can lead to better collaboration and efficiency, adding value to your organization and helping you innovate at a faster pace. But that’s where the similarities between PIM and PLM tools end. 

Differences Between PIM vs PLM Software

PIM and PLM systems are used at different stages in the product journey. When implemented well, they can complement each other perfectly. But they are not one and the same. Here are the top six differences between PIM vs PLM software.

Role

PIM: PIM is a system designed to handle your customer-facing data. It enables and simplifies the flow of product information from internal databases to your customers, syndicating your data across all channels and ensuring a consistent product experience. It contains information such as product descriptions, specs and sizing, inventory levels and availability, pricing, and more. Any information your customers want to know can be found in your PIM.

PLM: PLM is an internal-facing system. It collects and centralizes information from various internal sources and departments so that all of your internal teams are working from the same database. Your PLM contains information related to the concepting, design, development, and engineering of your products. Any information that your internal teams want to know can be found in your PLM.

Product Lifecycle Stage

PIM: PIM helps you manage the marketing and selling of your products once they’re ready to be brought to market. Many eCommerce companies use PIM for product syndication and distribution. PIM can either automatically upload, enhance, and format product data, or your internal teams can do it manually.

PLM: In the discussion of PIM vs PLM, PLM actually comes first—it helps you manage the product development phase, from ideation to manufacture and launch and even after-sales support. Collaboration is essential during this stage, and clarity on what has already been done, what needs to be done, and any previous iterations of the product can help optimize your product lifecycle. Once the product is launched, PIM takes over.

User Base

PIM: Since PIM and PLM systems were created for different stages of the product journey, it follows that they’re used by different departments within your organization. PIM will mainly be used by your marketing and sales departments, including your field reps. These are the people who need access to things like descriptions, SKUs, visual assets like images or 3D renderings, and product metadata.

PLM: PLM is used by your engineering and technical departments, including developers and designers. It can also be useful for product and sales teams, to help them get a historical context of their particular product. When you’re discussing PIM vs PLM with your internal teams, be sure to include all of these departments. You can even integrate your suppliers into your PLM, which can help you foresee supply chain issues that may affect your product lifecycle.

Data

PIM: One of the most important PIM capabilities is to store many different types of data. It can, and should, incorporate data from your PLM, such as technical data. It’s also highly customizable, so the types of data it uses can vary by organization and even by product. Data can include technical specifications, digital assets like video, audio, and image files, design files and PowerPoints, product metadata including keywords and descriptions, as well as customer data, marketing data, and financial data.

PLM: PLM tools store data related to design and engineering needs only. This might include CAD renderings, Photoshop and InDesign files, lists of parts, materials, and components, bills of materials, requests for quotes, and more. PLM software can stand alone and can also be integrated into your PIM when your product is ready to be put on the market.

Integrations

PIM: PIM tools and PLM tools integrate into your existing tech stack very differently. PIM aggregates more types of data and can typically integrate with more systems. PIM integrations might include your enterprise resource planning (ERP), digital asset management (DAM), product data management (PDM) systems, and even your PLM itself. It usually also allows you to import CSV and XLS files as well as use APIs to connect to your online and print channels. APIs have proven benefits: Researchers at Boston University found using the right APIs can increase annual net income for a large firm by more than $250,000.

PLM: PLM capabilities focus on design and manufacturing, and therefore so do its integrations. You will be able to integrate with CAD programs and Adobe Illustrator, as well as other design software. Like PIM, PLM also typically integrates with ERP and PDM systems. It orchestrates all of these different programs, providing you with comprehensive historical data.

Outcomes

PIM: PIM helps your team deliver compelling product experiences, which ultimately provide a customer experience that can improve your sales, extend your reach, and result in fewer returns. It can help you keep pace with changing customer preferences, encourage loyalty to your brand, expand your market share by helping you create larger and more varied digital product catalogs and sell on more channels, and improve your efficiency and save resources. It does all this by automating tasks, including localization and syndication, and reducing the risk of inconsistent or inaccurate information making it into your customer-facing assets.

PLM: PLM helps your team get products to market faster and at a higher quality. Through various tools and workflows, it can improve collaboration and internal efficiencies throughout the development of a product. It does this by providing visibility into the entire lifecycle so that everyone involved can see at a glance what is going on with the product. It can also help you standardize and automate your bills of materials so that you can better price your product, as well as manage your quotes so that you get the best bids.

Do I Need Both PIM and PLM Systems?

The bottom line is that there is no real debate between PIM vs PLM. They serve different purposes, and most organizations that both produce and sell products will likely need both, especially larger organizations or those with many products. The two systems complement each other: PLM applies to product development, while PIM applies to product experience, sales, and marketing. Together, they streamline your entire product lifecycle from ideation through distribution and retirement and create a better experience for both your internal team and your customers.

The good news is that you can share information between your PIM and PLM systems. The Akeneo PIM is designed for seamless integration with many of your existing systems, including the technical information from your PLM. 

Book a demo with Akeneo and we’ll show you what PIM can do for you.

It’s officially 2023, which means that 2013 is now a decade behind us. Since the days of The Harlem Shake and The Cup Song, a lot has changed.  We’ve seen new apps rise and fall (looking at you, Vine), rapid advancements in AR, VR, and AI technology with the likes of Pokemon Go, DALL-E, and ChatGPT enter the arena, and, of course, a global pandemic that reached every corner of the globe and continues to rear its ugly head. But these past ten years mark something else as well; 10 years of Akeneo. That’s right, 2013 was the year our founders bonded over a passion for David Bowie, beer, and helping brands and retailers create strong omnichannel experiences and began developing a new open-source solution that could replace the use of spreadsheets and manual processes to manage product information. And so, while “selfie” was being added to the dictionary, Akeneo was born and the last foundational member joined the team; our three-headed purple hydra, Ziggy. While once a threatening monster facing our product catalog manager heroine, Julia, that once represented the scary nature of multichannel commerce, Ziggy has since been tamed into our friendly neighborhood Chief Community Officer. She now acts as our Akeneo ambassador who enable customers to succeed in the intimidating world of omnichannel commerce.   So while Ziggy has gone through a fair amount of iterations over the past decade, she’s been a core member of the Akeneo team from the start.  That’s ten years of holiday celebrations, traversing the world, Unlock events, serving up cocktails, and Ziggy birthdays, all while paving the way for compelling omnichannel product experiences. We’ve also seen her in a myriad of mediums; from animated to plushie to steel to even glowsticks, Ziggy has taken many shapes and forms, thanks to the creativity and innovation of the Akeneo team.             But now, with 10 years of experience under our belt, we want to open up the doors and include our entire PXM community and beyond to get in on the fun. Whether you’re a professional painter or struggle with stick figures,  we want to see your Ziggy masterpieces. You can submit up to 5 renditions of our beloved mascot if you’d like, and our favorite 20 pieces of art will be showcased live in our Ziggy exhibit at the Unlock Paris 10 Year Anniversary party.  Plus, the artists with the winning drawings will receive two free tickets to Unlock Paris and will win a mamma Ziggy plushie of their own! Remember, it’s not purely about artistic skill; creativity and innovation will be a factor in the competition as well. Artwork must be submitted here by February 1st, and winners will be announced on February 15th!  So what are you waiting for? Join in on a decade of Ziggy-inspired art and enter for a chance to receive free tickets to the biggest PXM event of the year.  Start planning quickly, make it pretty, and let’s draw Ziggy!

Having a great product experience is the crucial first step in providing an omnichannel customer experience. Every interaction with your product that a consumer has during their ever-widening buying journey is going to impact their experience and perception of your brand.

Feeling skeptical? Here are the numbers to back it up: two-thirds of shoppers saying that they have abandoned buying a product because of bad product information experience obtained from any source. What’s more, research also suggests that compelling product experiences can increase customer engagement, enhance brand perception, and improve lead generation and customer acquisition.

Offering a handful of compelling individual experiences, however, is not enough. You need to build an entire strategy that elevates your product experience across every channel, marketplace, and touchpoint.

Building an impactful product experience (PX) strategy is all about improving the customer experience — but that can’t be done unless you start at the foundation: Product Experience Management (PXM).

PXM is the set of best practices and key metrics for successfully making the most out of the people, processes, and technology needed to deliver world-class product experiences.

It’s been more than 25 years since Bill Gates famously proclaimed “content is king”—and yet it’s still true. Organizations today are creating more content than ever: 66% of content marketers said they created more content in 2022 than the previous year. 

All that content means one thing: a lot of digital assets.

As the amount of content we put out into the world continues to increase, so does our need for digital asset management software. Let’s dive into everything you need to know about this key piece of your data puzzle.

What Are Digital Assets?

Digital assets are unique files that are created and stored on a computer, server, or in the cloud. They are easily identifiable and provide value to your organization.

In the context of product marketing, digital assets include any file that you use to sell or market your products across any channel or marketplace. Most commonly this includes photos and images, videos, graphics, and written product information. It also includes the color palettes, fonts, and so on that you need to create these assets. Even your brand logo is a digital asset. 

Beyond the most common marketing purposes, the digital asset definition can also include sales enablement collateral such as PowerPoints and one-pagers, operations-related assets like diagrams and process documents, and assets from your design and engineering teams such as blueprints and 3D renderings.

There’s also another, more recent answer to “What are digital assets?” With the dawn of cryptocurrency and blockchain technology, more and more people are becoming familiar with the concept of digital assets as currency, virtual real estate, and non-fungible tokens (NFTs).

While these certainly count as digital assets, they are not typically what organizations are referring to when they discuss digital asset management software, so we’ve left them out of this discussion.

What Is a Digital Asset Management System?

A digital asset management system consists of the processes you use to collect, manage, and make use of your digital assets across your organization and across the entire product lifecycle. Most DAM systems today involve software and provide a single database for all of your digital assets and an easy way to share and distribute them around the world.

DAM software will be able to easily import your digital assets from many different sources and in many different file formats, including audio, video, image, and other programs. It will allow you to organize those assets in a flexible and customizable way. And it will connect to your various sales channels so that you can easily transmit those files.

In essence, effective digital asset management ensures that anyone in your organization and outside of it can find the files they need, when they need them.

What Does DAM Software Do?

Today’s digital asset manager systems have come a long way since those of the 1990s. Many of them now run in the cloud, so there is no expensive hardware to maintain, although on-site servers still exist.

Tools for digital asset management include templates you can use to standardize the creation of assets, as well as the ability to upload, organize, and store various file formats. You’ll be able to tag your assets with metadata including the type of asset, technology used, and version. Then you can create workflows that automate various tasks and processes.

Most DAM software also includes collaboration tools, like the ability to make edits and leave comments. Once your file is final, it will provide numerous ways you can distribute the content, such as connecting to your product information management (PIM) software or uploading directly to your website.

Other essential functions of DAM software include unlimited storage, file backups, and version control, which ensures that the latest version is being used. You’ll also be able to set permissions, which allows you to limit who can see and make changes to each asset and helps prevent errors and intellectual property theft. 

DAM systems don’t just store your files—they give you a complete and holistic view into their history and current status. And they do it in a user-friendly way.

Why Do You Need a DAM System?

According to one survey, marketers and creatives estimate their teams spend 91 hours per week searching for digital assets. Nearly half report that this slows down their productivity. And only 14% are happy with how their digital assets are stored.

This is a huge opportunity for organizations to not only improve their efficiencies, but also create happier and more satisfied employees. The same survey found that those who do have a DAM system are 41% more likely to be satisfied with their digital asset workflow.

The larger your digital asset library, the greater your need for DAM software. and it isn’t just marketing teams that benefit. When your sales, customer service, web development, and other teams have easy access to your files, that means your marketing and creative teams don’t have to spend as much time fulfilling digital content management requests.

A good asset management strategy will improve your organizational communication, collaboration, and agility. It will streamline your workflows and optimize digital asset production. It will reduce errors and duplicate content.

Most importantly, good digital asset management will lead to a better customer experience by ensuring that all assets are accurate, consistent, and up to date.

So what is DAM? It’s actually a solution to many of your organizational challenges.

How to Choose the Best DAM Software for Your Business

Managing brand assets doesn’t have to be difficult. Above all, DAM software should solve your business challenges, not contribute to them. Here’s what to look for so you can find a solution that does just that.

Features and Customization

The real question for your organization is, “What is a digital asset management system to you?” Asset manager systems come with many different capabilities. Do you mainly need to store design files? Or do you need mostly digital content management? While many solutions have similar features, some may excel more in the areas that are important to you. 

Any solution you choose should come with the ability to add and remove features as needed. Open source DAM software is an excellent option if customization is especially important to you.

Tech Stack Integration

You don’t want your DAM system to put up walls instead of breaking down silos. The data you upload should never become an island. The best DAM systems are made to not only share, but to easily integrate with your existing tech stack.

Depending on the type of files you work with, you’ll want the ability to import from Microsoft Office, Adobe Creative Cloud, and project management tools. You’ll also want to connect your DAM to your other data management tools, like your master data management (MDM) and PIM systems. If you don’t see your tools listed, ask the company if they provide the ability for your developers to connect via API.

Search Capabilities

Searching for assets is one of the most important capabilities of DAM software. You’ll want to be able to search in two directions: search the metadata to find your assets, and search within an asset to find its metadata.

 You’ll also want to make sure it’s easy to label your assets in the first place, using simple adjustments and customizable fields rather than complicated code that requires a developer. Also consider the ease of filtering your search results. Does the DAM system have the filters you need or will you need to create them?

Security and Recoverability

Security for your digital assets is especially important if you work in an industry involving R&D or other intellectual property. Up-to-date security protocols and the latest encryption are essential, as is a secure server where your data will be stored. Your DAM system should also ensure your files are redundant and recoverable and that the system is backed up and reliable.

Permissions are another aspect of security that’s important. If your DAM software doesn’t provide detailed enough access rights with role based permissions, you may not be able to assign the permissions you want.

Sharing

Your DAM software should make it easier to share files among your team and with outside organizations. You want fast, efficient file transfer that leverages compression without affecting quality.

You’ll also want the ability to easily group files based on who you are sharing them with, like marketing teams, product teams, customers, and suppliers or distributors. Then you’ll want to be sure you can give those people access as needed.

 The real answer to the question “What is DAM?” is that it is quickly becoming one of the most essential tools for asset management, especially for large enterprises and eCommerce. Along with tools like PIM, it’s part of the overall strategy you need to implement to ensure a consistent and streamlined customer experience across all of your channels. In fact, the match between DAM and PIM was made in heaven.

 Want to learn more about how DAM and PIM can work together? Check out this webinar with tech and business experts to learn how this integration can benefit your business. Then book a demo and let us show you how it works.