Case Study

Align The Time-to-Market With Changing Consumer Choices

Doctor Time

Product data management (PIM) solutions have provided business owners and marketers with the ability to align data with business. Data remains at the core of every successful growth strategy and is one of the fundamental ingredients of innovation. Data, and analyzing data to extract insights enables you to improve your customer understanding at every level of your organization (commerce, experience, product information and order aragement) and customize your product offer in a manner that is relevant to your market.

"70% of respondents use big data, historical information and predictive analytics to improve their marketing effectiveness”, Dimensional Research for Progress [1]

More specifically, data analysis:

  • Helps to identify particular customer needs and how their spending shifts between channels and products – for example, some of your clients might prefer to rent your product instead of owning it or purchase it through an alternative eCommerce channel like a smartphone or in-store payment device
  • Tests and validates your customer base - companies can use PIM’s analytical tools to generate marketing ideas, build and implement a marketing strategy, monitor in real-time the performance of their marketing channels, learn faster what works for their consumers and incorporate the feedback into the next marketing cycle [2]
  • Allows you to understand the effectiveness of each of your marketing initiatives (and to get a full picture of your marketing strategy) and continuously improve and innovate your product/ service and the customer’s experience
  • Monitors your multichannel (and your marketing mix), diagnoses data deficiencies and uncovers new and more effective methods to reach out to your consumers
  • Helps you customize your product offer on the go – “70% of US and UK consumers said they expect personalized experiences with the brands they interact with” while 36% of customers have shown an interest in purchasing personalized products [3]
  • Helps you review the latest developments in your industry and how your products and product data (including the packaging, materials, product placement, terms and conditions, product names and stated use) can remain relevant and competitive [4]
  • By integrating the latest product data management technology, you will be in a better position to audit your supply chain information and marketing and leverage data to develop actionable insights and offer a personalized experience.

By integrating the latest product data management technology, you will be in a better position to audit your supply chain information and marketing and leverage data to develop actionable insights and offer a personalized experience.

Our Client’s Problems

Client Overview

Our Client is one of the world’s leading manufacturers of personal care consumer products. In addition, they have diversified and expanded their operations into the self-adhesive market for industrial consumers. They have more than 150 affiliates and 15,000+ employees worldwide.

Problems

The company strives to be as responsive as possible to their consumers’ desires and investigated the possibility of implementing a Product Information Management (PIM) solution that would improve the time-to-market and boost operational efficiency.

Without PIM in place, the product records were susceptible to data errors because the gover- nance policies which aimed to standardize the format of all files were not consistent for every enterprise system. Inaccurate information rendered data analytics useless and, as a result, the business was very slow and ineffective in their decision-making process.

Why they chose Riversand

Advellence Solutions, our Watershed Alliance Network partner and the client’s Media Asset Management (MAM) provider recommended the Riversand’s PIM solution.

Product Information Management (PIM) solutions create a “single source of truth” and point of entry for all the product data that is used by lower-level systems such as ERP programs, websites and print catalogs. The software seamlessly integrates with Advellence’s Sharedien, which remains the single source for product media assets.

“The IT department investigated a Product Information Management (PIM) solution and discovered an opportunity to make huge strides in efficiency across the enterprise.”

Results

Using PIM, the company got rid of all the “dirty” data and established a single set of data governance policies which control how new information is recorded in the business and synchronize the lower level systems. Removing duplicate data enabled the management to finally get an accurate picture of product data analytics and use that comprehensive information to predict and respond to the customers’ needs.

With a single entry point in place for product data, descriptions and other information are changed through a single portal and automatically updated and pushed to every other enterprise system and customer touch point. The product changes will take place simultaneously across multichannel (print, web, retail outlets) and save considerable resources when compared to the prior labor-intensive method of manually changing marketing information.

These features helped our client to minimize the workload required to change product data across the globe, significantly reduced their time-to-market and streamlined their marketing efforts as their company expanded into new markets. As initially planned, implementing Riversand’s PIM enhanced data analytics, reduced the marketing costs, and diminished the time required to launch new products.

Resources

[1] https://www.emarketer.com/Article/How-B2B-Marketers-Leverage-Data-Target-Buyers/1015831
[2] https://www.linkedin.com/pulse/digital-transformation-everybody-wants-one-what-does-nick-burcher
[3] https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/consumer-business/deloitte-uk-cpg-trends- 2016.pdf
[4] https://hbr.org/1997/01/the-four-faces-of-mass-customization