With constant technological change, the manufacturing sector is undergoing significant transformation. Many manufacturers are exploring direct-to-consumer (D2C) models by opening up information and sales channels directly to customers while still relying on traditional distribution networks, dealers, and service partners for delivery and support. Additionally, business buyers or B2B customers are expecting a better customer-focused approach from their suppliers, mirroring the B2C experience. This shift is pushing manufacturers/suppliers to adopt personalised approaches to meet evolving consumer demands.
The Impact of the Above Change
Let’s consider a mid-sized manufacturing company that produces high-quality machinery and equipment. While its products are well-regarded, its aftermarket operations—spare parts sales and service support—are struggling to keep up with customer demands. Revenue from parts and services is stagnant, with limited year-on-year growth, and the company is investing heavily in R&D to identify the gaps in its aftermarket strategy.
One day, the company received feedback from a service partner who visited their eCommerce portal to order spare parts. The partner found outdated product specifications, inconsistent pricing, and limited visibility into inventory availability. While the company prides itself on the quality of its products, its ability to deliver accurate, consistent, and timely information about spare parts and service support is falling short..
The result? Missed opportunities, frustrated customers, and a growing sense that they were losing ground to competitors.
This scenario is far from unique. In fact, it’s a challenge faced by countless manufacturers today. The solution? A PIM for the aftermarket. Let’s explore!
What is an AfterMarket PIM System?
Product information management, or PIM for manufacturing, is a powerful centralised system that manages everything from technical specifications, attributes, and digital assets like images, videos, and brochures to product pricing.
An aftermarket PIM, internal teams, dealers, and service partners for manufacturers provide a unified platform and consistent data for not only internal team partners but also customers. Essentially, this platform can be thought of as a trusted source that provides and maintains all product information, ensuring that every team, whether sales, marketing, or operations, has access to accurate, consistent, and up-to-date data.
Key Features of PIM
PIM systems empower manufacturers to streamline various processes that improve data quality, streamline data management processes, and provide their customers with exceptional product experiences.
Here are the key features of a PIM system that make it a must-have for manufacturers:
● Centralised Product Data: Stores all product information in a single system, reducing data duplication or fragmentation and also providing easy access in a unified system.
● Data Enrichment: Enhances product details with attributes, specifications, images, and other digital assets. Manufacturers can enrich product information by adding various attributes.
● Consistency Across Channels: Maintains uniform and accurate product data across eCommerce platforms, marketplaces, and offline catalogues.
● Manage Data More Efficiently: Simplifies data entry, updates, and distribution minimising errors and improving efficiency while maintaining data.
● Localisation and Translation Available: For manufacturers targeting global markets, a PIM system can also seamlessly adapt the product information into multiple languages and regional formats.
● Support Technical Specifications: A PIM system allows manufacturers to store and manage detailed technical specifications, such as dimensions, materials, performance metrics, and other information.
How Can Manufacturers Benefit from a Centralised Aftermarket PIM?
Let’s decode why an increasing number of manufacturers are incorporating Product Information Management (PIM) systems in their business.
Tackles Data Complexity with Ease
Aftermarket product catalogues are infamously complex. Think about it: a single piece of machinery might have hundreds of spare parts, each with its own part number, technical specifications, and compatibility details. The PIM system eliminates the complexity of scattered spreadsheets and fragmented databases, making accurate information easily accessible.
Better Customer Experience
The customer is king, and it is one of the core responsibilities of manufacturers to improve consumers’ overall experience when they interact with their business. In the aftermarket, customer satisfaction hinges on the ability to quickly and correctly find the right parts or accessories.
A centralised PIM system enriches product data with detailed attributes, compatibility information, and multimedia assets, making it easier for customers to search, compare, and purchase the products they need.
Improve Operational Efficiency
PIM systems for manufacturers can improve operational efficiency! Here’s how—when a new spare part is introduced, the PIM system can automatically update all relevant catalogues, websites, and sales channels, ensuring that the information is consistent and up-to-date across the board.
Helping in Revenue Growth
PIM systems for manufacturers remove the potential for losing sales due to inaccurate and inaccessible information. A centralised Aftermarket PIM system ensures that customers can easily find and purchase the parts or accessories they need, leading to higher conversion rates and increased sales.
Simplify Catalogue Management
Creating Aftermarket product catalogues can be a time-consuming process. Manual updates, version control issues, and the need to produce catalogues in multiple formats can also be overwhelming. A PIM system simplifies this by automating catalogue management. Manufacturers can create, update, and distribute catalogues from a single platform.
Faster Product Launches and Updates
A centralised Aftermarket PIM system helps accelerate product launches and updates by streamlining data management processes. Manufacturers can quickly add new products, update existing information and make changes across all channels in real-time.
This agility also helps reduce time to market and ensures that customers always have access to the updated and most accurate product information.
Wrapping Up – Scale with Signifikant
For manufacturers aiming to thrive in a competitive market, the integration of a centralised Product Information Management (PIM) system becomes essential. As it provides data that is accurate, consistent, and readily accessible across all platforms.
Signifikant is an Aftermarket specialist who stands at the forefront of providing comprehensive Aftermarket solutions tailored to manufacturers. With Signifikant Aftermarket PIM, you can say goodbye to information overload and get personalised aftermarket information with our innovative approach.
By integrating eCommerce capabilities with robust data management, Signifikant empowers businesses to enhance their Aftermarket sales and service efficiency. The platform excels at managing thousands of SKUs, ensuring compliance with global regulations, and delivering seamless omnichannel experiences. Signifikant’s platform is built to meet the specific needs of manufacturers.
*Image Source : by Freepik
