What is a PAM (Product Asset Management)?

To promote brand loyalty and to strengthen the relationship between consumers and companies, it is necessary that the content related to products is always relevant, significant and impact. Linking product data to customer content is the key to offering them this kind of experience.
 

If a company finds it difficult to quickly bring product innovations to the market or to respond in a timely manner to new trends, it risks losing estimated customers to the advantage of its competitors. Often the difficulty lies precisely in the inability to generate and distribute product information quickly and efficiently.

Brands need to do everything they can to maximise the value they get from the product’s content and to do so they need to manage it more effectively. Digital Asset Management (DAM) has long been an important technology in terms of marketing, but in recent years it has evolved, thanks to integration with the PIM, in Product Asset Management (PAM). PAM is a technology that leverages digital resources to support corporate communication strategies. With consumer demands growing around the digital experience, PAM becomes an increasingly important solution because it connects content between the marketing department and other departments within the company. This connection improves the digital experience, both for the company and for the customers, facilitating the coherence of communication through the different touch points.
 

Gartner, in the report published in May 2020, "Evolve From Product Information Management to Product Experience Management With a 360-Degree Analytics Strategy", stresses that companies must evolve from product information management to product experience management. This can be done through the use of a platform that collects critical product information (both resources and data) at key points in the life cycle of the product itself (design, packaging, campaign development, etc.).
 

Gartner advises companies to "create a 360-degree view of their products by connecting rich content and digital resources to key data to support customer experiences". He adds that "the resulting product information can therefore be "displayed" in a holistic way in different business contexts, whether strategic, operational or analytical. From these holistic views, you can get better business results".
 

Providing a unique platform for product information (data, assets, content), to which all business resources access, can speed up the time-to-market of products and meet the evolving demands of consumers at every point of contact.

OIM, the Digital Experience Platform provided by GMDE contains all the technologies needed to improve communication processes. PIM, DAM and PAM, as we have seen, collaborate more and more with each other to achieve the objectives of current business strategies.

Source: The Importance of Connecting Product Data and Content