The webinar discusses best practices for implementing a Product Information Management (PIM) system. It covers how consumer preferences are changing with more online shopping, the importance of high quality product content for purchasing decisions, and the barriers legacy systems pose to publishing great content across channels. The webinar recommends investing in a PIM system to better manage product content and processes, highlighting top PIM use cases and features. It provides tips on developing a PIM strategy and implementing PIM solutions in phases.
2. About Nuxeo
An Elegant Platform for
Rich Content Management
Common Use Cases
• Digital Asset Management
• Media Asset Management
• Document Management
• Case Management
Designed by developers for developers, the Nuxeo Platform is
a highly customizable and extensible content management
platform for building business applications.
Trusted by Leading Organizations
3. Vik Gundoju - StrikeTru
Vik is an experienced technology and operations management
professional and a Partner at StrikeTru. His interests include
Product Information Management Strategy, Enterprise
Information and Data Architecture, Master Data Management
and Content Management solutions.
Speakers
Michael Urbonas – Nuxeo
Michael Urbonas, Director of Product Marketing, is responsible
for Nuxeo’s product messaging and positioning, including
creating content and tools that convey the unique functionality
and business value of the Nuxeo Platform. Mike believes
strongly in the power of enterprise information and analytics to
foster business transformation.
4. www.striketru.com |
Co-Branded Partner Webinar
Best Practices for Implementing a Product
Information Management (PIM) System
4
2016 | Strictly Confidential
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Executive Summary
• Consumer preferences changing dramatically
• Increasingly comfortable researching and buying online
• High quality product content speeds a consumer’s path to purchase
• Bad content harms the brand, raises costs, and leads to lost sales
• Legacy systems and content processes involve high cost and complexity in
sharing great content with customers and partners
• PIM tools transform legacy operations, & deliver quality content consistently
• Successful PIM solutions focus on collecting & managing content and assets
from multiple sources, and distributing it efficiently to customers and partners
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Consumer preferences changing dramatically
Millennials:
§ Will be 50% of the workforce by 2020
§ Are picky about how they’re marketed to
• Want interaction, and highly relevant advertising only – on their devices!
• Internet & social media: critical tools for research and buying
Source: The American Furniture Industry: An ABTV Industry Watch Report, October 2014
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Increased comfort online: Content matters
• 69% of US internet users shop online regularly1
• Across product categories, channels, and devices
• Want easy access to high quality, consistent content
• Content greatly influences buying decision2
• 71% rely on titles, descriptions, digital assets, etc.2
• 82% consult phones when shopping in a store3
• 33% bought from a different brand based on content received on demand3
1 Online retail sales to top $480 billion by 2019, Forrester, April 2015
2 Polishing Up Your Products — Why PIM Really Matters, Forrester, Nov 2014
3 Winning Omni-Channel Shoppers in Their Micro-Moments, Google, Oct 2015
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Great content drives traffic and sales
• Strong digital presence ensures shoppers find and consider you
• Over 50% begin research on digital channels vs 7% at physical stores1
• eCommerce and digital marketing tools perform great with rich content
• Content rich product pages drive higher traffic and conversion
• Better titles and descriptions led to 50%-70% more ad impressions2
• High quality content feed to Google led to an 8.1% conversion lift at Speakman3
• Also impacts AOVs, stickiness, profitability, return, abandonment rates
1 Polishing Up Your Products — Why PIM Really Matters, Forrester, Nov 2014
2 Google Internal Data 2015 - experimental data for product ads over multi-month period
3 Salsify Case Study, Dec 2015
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Lost sales, higher costs, brand inconsistency
20-25 people and 8 different
systems involved in servicing a
retailer request for product
data
30-50% of =me spent compiling &
publishing product data is redundant &
wasted
Takes us 5 =mes longer
than peers to roll out products
Same product branded 5 different ways
across our print and web channels
Lost sales because we let
3rd par=es define our
presence on Amazon
1 A.T. Kearney, GMA, AMR Quotes: Riversand & StrikeTru Engagements
3.5% of sales lost/year
due to supply chain
informa=onal inefficiencies1
30% of data
in product catalogs
is bad1
25 minutes/ item/
year spent manually
cleansing bad data1
4 weeks on average
to introduce new products1
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The value of PIM
Other Benefits
BeOer Repor=ng
Fewer Returns and
Reconcilia=ons
Fewer Calls to Call Centers
More Selling Time
Strong Digital Presence
Higher Sales
Lower Opera8ng Costs
High Quality, Consistent Content
Faster Product Releases
More Selling Channels
Fewer Systems & Resources
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Top PIM Use Cases By Industry
Manufacturer
Distributor
■ Efficient content creation and distribution
■ Digital asset & collateral management
■ Distributor portal (to share data and assets)
■ Individual retailer requirement management
■ Web & Print publishing
■ Integrations: ERP, PLM,WMS,WCM, Industry Data Warehouses, Content
Syndication platforms, eCommerce & Digital Marketing platforms,
Regulatory authorities (e.g. FDA submission for medical device firms)
Retailer
■ Efficient content aggregation, cleansing, enrichment, and distribution
■ Digital asset & collateral management
■ Product relationship management (cross/up sell, kits, bundles, etc.)
■ Supplier portal (to source supplier product data and assets)
■ Omni-channel commerce support (cross channel consistency)
■ Drop ship, eCom & digital initiatives, reseller & social media enablement
■ Integrations: ERP,WMS, BI, POS, eCommerce & Digital Marketing platforms
■ Product line expansion
■ Similar to Retailer use cases
■ Customer service improvements
■ Print Publishing
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Top PIM Use Cases By Business Function
Marketing
Buyer / Product
Manager
■ Add marketing copy, SEO metadata, translations
■ Add digital assets, and collateral, and link them to products
■ Approve automatically generated titles and descriptions
■ Automate content and asset distribution to all channels
■ Setup product relationships (e.g. cross/up sells)
■ Setup custom catalogs, automate web & print publishing
■ Collaborate with 3rd parties (agencies, translators, etc.) on PIM platform
■ Pre-launch product setup
■ Product IDs, pricing, descriptions, categories, reference materials
■ Other attribute values, product relationships (cross/upsells)
Finance
■ Drive pricing strategies & competitive analysis via better reporting
■ Retire legacy or in-house product data systems
■ Avoid prohibitive costs and delays by not building a PIM in-house
IT
■ Simplify product data flow by integrating multiple systems
■ Enable digital and other initiatives by rolling out scalable PIM solutions
Governance
■ Develop data structures for content management
■ Set content policies and rules, help transform content processes
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Key Enterprise PIM Features
Data
Management
■ Product variants, categories, attributes, relationships
■ Reference data, channel specific content, localized content
■ Datatype, LOV, and other validations
■ Search, saved search, bulk edit, and quick export
■ Auto content generation (Titles, Descriptions, URLs, etc.)
Integrations,
Portals
■ Flexible integration capabilities – file & services based
■ Full/delta exports, multiple formats – CSV, XLS, XML, etc.
■ Connectors to Industry Data Pools and Digital Platforms
■ Support for Supplier Portal, Distributor Portal
Workflow,
Security
■ Robust workflow capabilities with notifications
■ Single and bulk workflow approvals/rejections
■ Security by data elements and by feature – e.g. at category,
attribute, bulk edit, import, export levels.
Print,
Translation
■ Print catalog automation
■ Web based catalog setup in PIM, creative design in InDesign
■ Translation automation, translation memory
Digital Asset
Management
■ Images, videos, URLs,
■ Asset on-boarding, transformation, and delivery to channels
■ Linking to products
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Best Practices for Implementing a PIM System
Develop a PIM
Strategy1
Implement PIM
Solution
3
■ Develop a vision and strategy for PIM
■ Secure executive sponsorship
■ Align Business and IT
Develop
Implementation
Roadmap
2
■ Assess product content management needs
■ Identify implementation scope and roadmap
■ Implement in phases – select a high impact channel for Phase 1
■ Pick a flexible platform that supports industry best practices
■ Pick an experienced & capable partner that can make you successful
■ Assign the right resources, ensure they’re available for the project
■ Implement Phase 1. Build on it & deliver overall solution in chunks
■ Manage change pro-actively
18. Key Functionality for Product
Information Management
Adding content to your applications
Michael Urbonas
Director of Product Marketing
19. The three key purposes of PIM
Ensure the quality and integrity of product data
Allow business users to manage and orchestrate
product data with its associated content (copy,
images, video, audio)
Act as a hub between content management,
eCommerce, digital asset management and ERP
systems
20. The three key purposes of PIM
Ensure the quality and integrity of product data
Allow business users to manage and orchestrate
product data with its associated content (copy,
images, video, audio)
Act as a hub between content management,
eCommerce, digital asset management and ERP
systems
21. The three key purposes of PIM
Ensure the quality and integrity of product data
Allow business users to manage and orchestrate
product data with its associated content (copy,
images, video, audio)
Act as a hub between content management,
eCommerce, digital asset management and ERP
systems
- Michele Goetz and Peter Sheldon, Forrester Research, 06/05/2014
24. Next-gen content repository
Not just “files”… Intelligent, rich content objects:
SimpleFile.pdf
Creation date 2016-05-02
Modification date 2016-05-03
Created by Rachel
Contributors Sarah, Carmen
Lifecycle state Valid
Product ID 7200
Product Desc Raspberry Iced Tea
File:
Access Controls …
SimpleFile.pdf
25. Next-gen content repository
Not just “files”… Intelligent, rich content objects:
SimpleFile.pdf
Creation date 2016-05-02
Modification date 2016-05-03
Created by Rachel
Contributors Sarah, Carmen
Lifecycle state Valid
Product ID 7200
Product Desc Raspberry Iced Tea
File:
Access Controls …
26. Next-gen content repository
Creation date 2016-05-02
Modification date 2016-05-03
Created by Rachel
Contributors Sarah, Carmen
Lifecycle state Valid
Product ID 7200
Product Desc Raspberry Iced Tea
File
Version 0.1
Access Controls …
Schema-flexible content
model
Define and manage
complex metadata
structures
Built-in lifecycle service
Highly scalable vertically
and horizontally
28. Advanced Query Engine
Powered by Elasticsearch
for excellent search query
performance and massive
scalability
Full text search and search
capabilities available for
advanced applications
Built-in visual analysis
toolkit using Elasticsearch
aggregations
29. Web Application UIs/Publishing
Custom application UIs, based on
role, group, etc.
• Limits user content access and
user actions
Centrally control and publish select
content to…
• Remote Nuxeo applications
• File systems
• HTTP servers
• Web portals (etc.)
30. Flexible REST API
Fully dynamic – for the same flexibility and extensibility of Nuxeo Platform itself
Fully composable - enabling developers to specify the assembly of API calls in
desired combinations and level of granularity as required
31. Focus on how - not just what
- Theresa Regli, Real Story Group blog, 4/18/2016
“Enterprise integration charts
are often amorphous, ill-
defined, and say nothing
about how such integrations
will actually happen…”
32. Focus on how - not just what
“Enterprise integration charts
are often amorphous, ill-
defined, and say nothing
about how such integrations
will actually happen…”
“[What’s holding
organizations back] …is ill-
defined integrations, that
were set up without proper
consideration of the how
rather than just the what.”
- Theresa Regli, Real Story Group blog, 4/18/2016
