The PIM in a Multi Brand Environment
75. That’s how many brands LVMH houses. It’s a nice score, it has to be said! Although not all companies reach 75 different brands, many companies within the same group are evolving in a Multi Brand context. No matter what the story is leading into this context – a historical marketing strategy, or successive buyouts or investments – you often end up with coexisting teams that have disparate tools and methodologies. However, if you want to accelerate the product diffusion of brands in the same group, create a virtuous cycle and gain in efficiency internally, standardizing product information is an essential prerequisite. This also infers standardizing tools and methodologies.
Collecting and centralizing multi brand product data
Suppliers tend to vary depending on the brands and products. Even more so when there is a buyout, as the companies involved will rarely have the same processes. In most cases, suppliers send Excel files to the brands, which then integrate them, but each in turn each has its own ERP and IS. The effort it foreseeably takes to rationalize these processes can be overwhelming: it can take considerable investment to change an entire information system, and this can prove too heavy for many companies. The better solution may well be to invest in a unique product information management platform (the PIM) on which teams can merge their information. Data is thus collected and centralized in a single reliable tool. The PIM takes on the role of integrating data and rendering it compliant, so that supplier information and processes used within the group are standardized, no matter what the brand.
Organizing team work
Once the collection of supplier information has been standardized, it’s time to think about enrichment, and how to organize the work to be done between different marketing and ecommerce teams. Yet in a multi brand context, teams are generally split up into brand or even product teams, in spite of being supervised by multi-brand departments at the group level. The PIM has the advantage here of enabling user rights to be managed according to the needs of each entity: for example, a collaborator could be given enrichment rights which are only applicable to their brand, but be allowed to browse other product pages for inspiration. The administrator in turn, can be given access to the validation feature for all of the brand content they are responsible for. In keeping, each brand is able to conserve their own processes and organization, all while ensuring the overall consistency of product content at the group level.
Creating a dashboard which is adapted to multi brands
Your content has been integrated; each team has been allocated their work to do: it’s time to move on to the monitoring phase! Having a clear and comprehensive dashboard is the key to being able to follow the publishing status and progress of your product content on a global level. Thanks to the PIM, you can set up your own dashboard with « common core » indicators which all the brands share, and define specific indicators according to the business needs of each one (practical or even essential when end client sectors diverge).
Everything is easier: monitoring the quality of product data, anticipating deadlines, and organizing teams’ daily work. Reports can be visualized on a brand, country or diffusion channel basis, and even cross-referenced (by country or by brand). Just a quick peek, and you and your collaborators know exactly where you are up to!
An omnichannel strategy for each brand
Do your sales and marketing strategies differ depending on the brand or country? It’s no problem with the PIM. You can connect different online and offline sales channels and differentiate them for each brand. Once a channel has been connected, you can choose to open it for another brand whenever you wish to: if you distribute your sofa on a reseller marketplace like La Redoute, you will be able to provide them with your bedding brand products in just a few clicks. A PIM can become a diffusion hub for all of your brands and products. You just have to pilot it!
Historical umbrella brands, startup buyouts, diversification opportunities: a company can end up managing a multi brand portfolio for a lot of reasons. It is important to manage the standardization of product information management intelligently for this kind of portfolio so that company processes are optimized while collaborators are kept engaged. The PIM is the ideal tool for federating teams and data around the same goal in this context: quality content distributed on the right channels. Having unified processes simplifies daily life for both managers and team collaborators. A singular identity can be rolled out for each brand and product which is fully in line with the global group strategy. Managing a multi brand portfolio has never been so easy!