When something has an effect on something else, and it is AWESOME.
That impromptu rave last night had a real pimpact on my Great-Aunt Marjorie.
A portmanteau of the words pimp and impact. Describes the impact a pimp has on the prices of a prostitution. Coined in the book "SuperFreakonomics".
"These high prices for the local prostitutes are no doubt tied to A Pimp Named Slickback's pimpact."