Study suggests ‘digitally mature’ manufacturers and brands are 29% more likely to perform better
01 Mayo 2024 - 5:00AM
A new study of 158 consumer brands and industrial manufacturers
shows a positive relationship between digital maturity and
financial performance.
The study examined how brands and manufacturers use software
such as digital asset management (DAM) and product information
management (PIM) to bring products to market.
Findings indicate a clear divide based on why businesses
purchase this software, with users falling into two groups:
Advanced Users and Foundational Users. Furthermore, when overlaid
with publicly available financial data, the data indicates that
companies using software for strategic growth see increased revenue
year over year.
“Advanced users” of PIM and DAM use the tools to syndicate
product data and assets to their downstream sales channels, enhance
their marketing capabilities, and manage rights and licensing
information. Conversely, “foundational users” use the tools for
internal reasons, such as efficiency gains and operational
improvement.
“Companies that focus on value drivers for PIM and DAM see
better ROI, not only from their software investments but also in
terms of sales and growth,” said Jeff Morris, Ntara’s CEO. “In our
inaugural study, Advanced PIM [39%] and DAM [36%] users were more
likely to report positive financial performance. We saw the same
trend for self-reported ‘digitally mature’ companies, which are 29%
more likely to report positive performance.”
To achieve top-line growth with PIM and DAM, the report says
companies need consistent top-down support, including executive
sponsors and PXM evangelists.
“As an IT leader, I try to identify the champion who will use
the PIM or DAM and manage it long-term. As you layer in these new
platforms, you have to know if there is someone in place to take
over and own it. It helps with adoption and long-term success,”
said Jeff Beyer, CTO of SATCO/NUVO and participant in the
study.
Consulting and research firm Ntara conducted this research with
sponsorship from their technology partner inriver. Download the
study: 2024 US Manufacturers Digital Commerce Benchmark Study.
About Ntara Ntara is a consulting and systems
integration firm that specializes in product experience management
(PXM), including PIM, DAM, ecommerce, omnichannel strategy, digital
shelf analytics, buyer research, and ongoing analytics. The firm
works with consumer product brands and industrial product
manufacturers to optimize their product processes and go-to-market
strategies.
Media contact
Samara Bolling
Director, Marketing
bolling@ntara.com
423-557-4618
www.ntara.com
www.ntara.com/brand