PIM and MRM are both modern data management systems. They fall into the category of new generation systems. Previous times featured systems like the Enterprise Resource Planning (ERP) system or just the use of spreadsheets. But unlike the ERP, PIM and MRM are variants of the same kind. This is in the sense that although generally, they are known to organize and manage data, they work and operate along different lines of business needs.
Below is a detailed explanation of what each of both data management system entails.
MRM- Marketing Resource Management
Marketing Resource Management is a technological data management system that deals with the management of marketing and communication projects. It is more about managing the visual identity that a company puts out than anything else. So it is safe to say that the MRM system aims at ensuring excellent branding solutions.
MRM paints the big-picture view of all your marketing efforts, helps you with the analysis of your marketing cost and ROI. Tracks workflow in every of your marketing projects to unveil points of workflow bottlenecks.
PIM- Product Information Management
Product Information management is also a technological data management solution. Still, unlike the MRM, it caters to the need to source, manage, enrich, and distribute product information across multiple marketing channels. It is particularly useful for keeping a single truth about the complex variety of products to maintain clear and effective communication.
With PIM, the chances of running accurate and high-quality information are higher. Asides communication, product information management also helps with the categorization of products according to their specific characteristics. For E-commerce businesses, this is a powerful resource as product categorization is key to helping customers and visitors locate their requested wares (and even complementary ones) easily.
MRM vs. PIM
So while MRM provides you with ways on how to efficiently run the processes, people, and backend operations, that serve as engines to your marketing programs and campaigns, PIM aids the collection, management, and the enriching of your product information. PIM helps to create a single view of product data and distributes it to your sales and e-commerce channels.
MRM works within the following capacity:
- Planning: the data management system aids planning by giving you a prior overview of marketing activities.
- Workflows: The workflow feature ensures that projects are progressive, and human resources are well maximized.
- Collaboration: it centralizes marketing content and processes. This way, team members are aware of the required deliverables, resources, and tasks involved in each project.
- Measurement: This feature aids the analysis of marketing activities in such a way that the effectiveness of marketing campaigns can be measured, ROI can be determined, and areas where undue investment is made, can be identified.
The following are features of the PIM solution
- Collect: PIM sources for product-related information from different online platforms. It operates like Data asset management (DAM) systems, just that its features get restricted to product-related data.
- Enrich: The tool enhances marketing content via improved product descriptions, customer-centered product catalogs, and a long list of others. It aims at increasing data quality to improve time to market.
- Distribute: It distributes accurate product information in the form of updated product catalogs across multiple channels.
Both management systems differ on all of the grounds, as mentioned above. Although both data management methods get geared towards effective communication and marketing, PIM is more useful as a tool for managing dispersing differences in product variants. At the same time, MRM is more focused on the brand perception that business data creates.
Determining the right data management solution for your E-commerce business requires that you first know the unique goals, needs, and priorities of your organization and why you need a data management tool. This will help you make better choices between both options.
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