Comparison: PXM vs. PIM vs. DAM
How do the disciplines PXM, PIM and DAM differ? We demonstrate the differences between the various data management systems and show how they relate to each other and for which business models they are most suitable.
For manufacturers, suppliers and retailers, digital, quality-assured product information is the basis for marketing and sales in e-commerce. Product Content Syndication (PCS) helps companies aggregate and enrich all product information from different systems and then distribute it to retailers, marketplaces and other data pools in the right format. PCS is an essential function of data management systems such as PIM systems and DAM systems. It automatically integrates and unifies product data from different sources into a central product data feed, regardless of format. Thus, unorganized data is standardized and adapted into a predefined structure.
Product Content Syndication ensures that all relevant product data meets the specific requirements of each output channel. Through the use of user-defined templates, product data is mapped to the appropriate channels in the best possible way, thus achieving maximum performance on each channel.
Product content syndication is especially useful for companies
Due to the almost absolute market transparency, customers (both in the B2C and B2B sectors) are becoming more demanding when it comes to the purchase of a product. Their searches for products are becoming more and more specific. They expect relevant and convincing information in the shortest possible time. If important information is not directly available to them, they quickly switch channels without compromise and jump to the competitor’s offering, which can better serve their demand for a positive buying experience. So manufacturers and retailers who want to keep up with consumers’ increasing demands in the future must ensure that they provide relevant and ubiquitous information that adds real value to consumers in their information and purchase decision phases. Typical and most important product attributes include, for example:
“Digital retailers, on average, attach 200 attributes to every single product they sell.”
Source: The Forrester Wave: Product Information Management Solutions, 2019
If a customer does not find an important product attribute or defines it as inapplicable, he will quickly switch to the next offer in times of omnichannel commerce. If, for example, product images or 3D visualizations are not displayed correctly on the smartphone, companies miss out on potential buyers. In addition, if the product attributes do not match the manufacturer’s or retailer’s product category, in the worst case scenario the products are not listed correctly in search engines or marketplaces and are penalized with poor visibility. To avoid such scenarios, Product Content Syndication automatically optimizes and distributes product attributes – regardless of whether a company markets its products on 10 or 100 channels. At the same time, PCS gives customers the ability to filter and categorize their product search to tailor their shopping experience to their own needs.
Since customers cannot naturally touch and experience products in online retail, it is the task of retailers to convey this information in the form of product content. Rich product content, together with a successful multichannel strategy and accurate syndication of product information, has a major impact on consumers’ purchase decisions.
The importance of specific product attributes to the purchase decision process varies by industry, business model, and target market. To find out which information provides important added value in the decision-making phase, it is advisable to regularly read through customer reviews (including those of competitors). If a product does not meet customer expectations, a customer will in many cases give reasons for his dissatisfaction. Similarly, if customer expectations are balanced or even exceeded by the buying experience. Customer reviews therefore often provide a quick overview of the most frequently mentioned product attributes and their importance for the purchase decision. An additional source for evaluating the quality of product attributes is the analysis of returns. Returns provide valuable information on the manner in which products are presented incorrectly or described inaccurately.
Conclusion:
Product Content Syndication helps manufacturers and retailers optimize their product information to maximize engagement and growth across all marketplaces and other sales channels.
Product Content Syndication is already seamlessly integrated into prodexa Cloud’s PIM solution, enabling consistent and high-quality delivery of product data that meets the specific requirements of each output channel. Find out for yourself about the holistic approach for convincing product communication on all channels and arrange your individual and non-binding online demo now.
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