David Sultan, Director of Sales Engineering for PIM software company inRiver, discussed product information management (PIM) solutions in detail. During this webinar, David provided a comprehensive explanation of what a PIM does, how they work, and who would benefit from using one. David will also give specific methods that a PIM can be used to generate revenue, save money through improved processes, speed up marketing initiatives, and improve customer satisfaction. What you will learn: - The definition of a PIM solution - How a PIM integrates with marketing systems and functions - Who would benefit from implementing a PIM - How a PIM addresses operational inefficiencies, disparate product information, and inconsistent product messaging - How a PIM can generate increased revenue – improved conversions, higher revenue per order, etc. - Ways that a PIM can increase customer satisfaction and help retain customers in the long run - Real-world case studies showing the effect that a PIM implementation has had on the business

1. WHY MARKETERS NEED A
PRODUCT INFORMATION
MANAGEMENT (PIM) SOLUTION
September 20, 2016

2. Why Marketers Need Product Information Management : Webinar Basics
 Ask Questions at Any time – we will come back around at
the end
 Recording and Slides will be made available with 24-48
hours and emailed to everyone

3. PRESENTER
David Sultan
Director, Sales Engineering
inRiver, Inc.
MODERATOR
Christopher Risner
Chief Strategy Officer
BlueBolt, Inc.

4. Why Marketers Need Product Information Management : Agenda
 Statistics and Research
 Description of the Problem and PIM’s Positioning
 Future of PIM – where it is going
 Demo of inRiver
 Question & Answers

5. Why Marketers Need Product Information Management : Customer Experience
 87% of shoppers stated that
they have left a B2B site to
conduct research around a
product, usually because the
product description or
information did not meet
their needs – Forrester
Research, 2016
 30% of data in catalogs have
errors – AMR Research, 2015
 Up to 30% of typical product
data master files consist of
duplicate entries and flat-out
erroneous information –
Jupiter Research, 2015

6. Why Marketers Need Product Information Management : Cost Reduction
 Without a PIM in place, it
takes an average of 4 weeks
to roll out a new product –
AMR Research, 2015
 60% of invoices have errors
and each invoice costs up to
$400 to reconcile – AT
Kearney, 2015
 Companies that embark on
B2B projects without a PIM
will waste an additional 12%
each year – AMR Research,
2015

7. Why Marketers Need Product Information Management : Increased Revenue
 Product Recommendations
like upsells and cross-sells are
responsible for 10-30% of
revenue – Forrester Research,
2016
 Poorly maintained and
synchronized product
information cause companies
to lose about 3.5% of their
sales each year – AT Kearney,
2015

8. CUSTOMER EMPOWERMENT
Age of
Manufacturing
MASS PRODUCTION GLOBAL CONNECTIONS NETWORKS RULE EMPOWERED BUYERS
Age of
Distribution
Age of
Information
Age of
the Customer
1900-
1960
1960-
1990
1990-
2010
2010-
???

9. CRITICAL SUCCESS FACTORS
• Increase revenue:
• Reduce time to market
• Improved customer experience
• Reduce product returns
• Ensure product information consistency across retailers
• Reduce cost:
• Improve operational efficiency

10. COMPANIES MUST MANAGE AN INCREASING NUMBER OF
CUSTOMER TOUCHPOINTS

11. 2015: 54% ONLINE INFLUENCE OR OCCURRENCE
2016-09-21 Copyright inRiver

12. WHAT INFORMATION WERE YOU LOOKING FOR..?
2016-09-21 Copyright inRiver

13. YOU MAY NOT KNOW…
Peter Sheldon
Vice President & Principal Analyst
Forrester Research
“Product content efforts are taking priority over
personalization & testing…”
“PIM is where products come to live for the
marketer…”
“Avoid the temptation to over-engineer the
solution…”

14. Field Value
Item DT620
Item name Timer-Plug IN
Price DT620
In stock 32
Warehouse / Bin
Location
12A
Pieces / Box 6
Size Class 4
Mfg. Item.no. DT620
DT Series
PIM bridges the information gap between the data that is needed for the
transactions and logistics in the supply chain process and the information that is
needed by customers in various marketing channels.
WHAT IS THE SOURCE OF THE PROBLEM?

15. PIM ASSISTS COMPANIES IN MOVING FROM THIS:

16. PIM’S PARADIGM SHIFT
Traditional data management
capabilities are still necessary to
manage product information, but
those capabilities alone no longer
are sufficient for the Age of the
Customer.

17. ASSORTMENT
FROM DESIGN TO COMMERCIALIZATION

18. ENRICH
PLAN & RELEASE
PUBLISH
Mobile
Point-of-sale
Advertising
Print
Web
E-commerce
Marketplaces
Ext.
data
PLMERP
Category
Management
Product
Marketing
Media
Management
SUPPLY
FUTURE STATE OF PRODUCT INFORMATION MANAGEMENT

19. Purchasing/
Product Owner
Product
Marketing
Copy/Editors
Media
Management
Translations
SUPPLY ENRICH RELEASE
HARMONY IN WORKFLOW - WORKING IN PARALLEL

20. PRODUCT-CENTRIC DATA MODEL

21. INRIVER PIM = PIM SIMPLIFIED
 Fast to deploy: Be up and running in days, not months
 Scalable: Start small, grow gradually to meet your needs
 User-centric: Easy-to-learn, easy-to-use
 Efficient: Faster time-to-market for all your products
 Quality: Consistent product information in any channel

22. • Project Kick-off
• Planning Sessions
• Initial Workshop
• Review Project
Scope
Project Kick-off
• Marketing Model
Analysis
• Attributes & CVL
Analysis
• Category Analysis
• Workflow, Rules, &
Completeness
Rule Analysis
• Digital Asset
Analysis
PIM Structure
Analysis
• Base Install
• Configuration
• Workflow & Rules
Configuration
• Marketing Model
Build
• Plan & Release
Setup
• Test
Installation &
Configuration
• Inbound
Connectors
• Outbound
Connectors
• Translation
• Initial Data Load
Integrations &
Connectors
• Deploy
Deliverables to
Operational Site
• Acceptance
Testing Support
• Transition to
Support
Deployment &
Acceptance
• Testing
• Documentation
Testing/QA
Time Line
SAMPLE IMPLEMENTATION METHODOLOGY

23. DEMO

24. QUESTIONS AND ANSWERS