As companies increasingly become more data-driven in their operations, they also need to invest in the right product information or PIM tools.
This is especially critical since traditional, outdated, on-premise software products are becoming more of a liability to operations and costs – and cloud-native SaaS solutions are becoming the safer bet for performance and constantly maintain the latest functionality without unpredictable downtime.
That’s where choosing cloud-native, SaaS Product Information Management (PIM) technology can prove to be a game-changer, offering numerous competitive advantages like cost savings, scalability, and top-of-the-line security measures and updates.
However, there are many SaaS PIM business models where platforms offer freemium and paid versions of their products.
It isn’t easy to know where to start. But, as you think about your sales and software needs, consider a balance of value, costs, and revenue to achieve your growth goals.
A freemium PIM software will basically cost you nothing as it is a stripped-back product to fulfill your basic needs. On the other hand, an entry-level PIM tool is a subscription or pay-as-you-go-model. You have access to the software and do not have to worry about maintenance, updates, security, or scalability.
Let’s go through the pros and cons of freemium vs. entry-level PIM models.
A freemium PIM model is an entry-point towards improving one part of your business and discovering how much that would be worth to you.
In other words, you can try out a few features before switching to the personalized services provided by an entry-level PIM product. Most freemium products involve certain restrictions that can be either time-bound or have limited features.
A free-to-use PIM product’s essential features help analyze your business needs using various use-cases, capacity, speed, and visualizations and supplemented by additional paid packages. For your freemium model to work effectively, you’ll first want to consider your scale of operations and production, both financial and infrastructural.
As a business strategy, a freemium model binds a business within feature limits and converts them into paying customers as soon as the full capacity of features is reached. This often devalues your core service and impedes a good user experience.
An entry-level PIM is a minimum viable commitment that delivers quick (and full) value to your business needs. As a paid service, it provides all the essential features for use cases, capacity, speed, time, etc., without any tiered differentiation. This helps you experience a real PIM without fear of knowing it may be later turn out as a rip-out-and-replace option.
An entry-level PIM solution can also be implemented rapidly to target an immediate ROI, which helps create better user experiences.
An entry-level PIM works best when you are looking for eCommerce sales growth and need a scalable plan. As a go-live, fast-to-implement solution, you can sell and manage product data online immediately. Your product information strategy becomes more manageable, controlled, and you scale and sell on more platforms without any compromises.
While freemium PIM solutions attract users with their free-to-start services, implementing and personalizing its features ends up creating a higher investment than what an entry-level PIM requires.
So, for organizations that need an intelligent and optimized solution, an entry-level PIM comprises a distinct advantage in managing attributes, creating complex taxonomy easily, creating necessary business rules/conditions, integrating profiles, and separating business process flows.
The value delivery also includes access to smart training and self-help, easier system integration, and visualizations and insights module.
With an inherently faster process execution, all these features make an entry-level PIM a smart choice in generating a fast-paced return of investment that accelerates brand visibility and returns.
Riversand Ascend provides an enterprise-grade PIM with hassle-free customization which enables businesses to rethink their implementation and value delivery. Built to go-live in a matter of 4 to 6 weeks at a low and predictable cost this PIM solution provides great value, offers complete functionality, and easy accessibility across the organization.