Product Experience Management (PXM)
Published on:
August 24, 2021
Reading time:
minutes
PXM stands for Product Experience Management and describes the presentation of customer experiences around a product.
The goal is to build a strong bond between product and customer. Digital Experience Platforms combine sales, marketing and service applications to present products and services in such a way that they can be perceived as a so-called experience within the purchase journey. And the often underestimated discipline of online commerce is now becoming the experience factor.
Product quality management: Context is crucial
The focus is no longer on the clean preparation and provision of product data, as is the case with classic Product Information Management (PIM). Rather, Product Experience Management (PXM) focuses on the question of which product data is used in which context and for which customers.
With the PXM solution, product data can be prepared in such a way that the correct description of the desired product is available at any time and via any channel, and is displayed in a personalized context according to customer expectations.
In order to render such scenarios, however, the data must first be "contextualized". In this way, concrete use cases are added to the data set for a product. Therefore, online shops have to think much more about the buyers and their needs in advance, define individual use cases and consider how products and channels differ from each other.
Product details are important to 80 percent of shoppers, but only 24 percent of retailers have them on their agenda. That needs to change as soon as possible: Because providing context-sensitive, consistent product information pays off in the long run with excellent customer service.(AmPnBsP);
PXM, what is its significance and application for companies?
In the omnichannel context, PXM plays a central role in building brand loyalty. For companies, this means providing clients with personalized and standardized product data at any time during the buying process. To do this, product and marketing teams must prepare the data so that it is systematically tailored to each channel, each target group, each context. A task that can be daunting with thousands of product links across multiple channels.
Advantages
- Channel mix add new channels like chatbots and voice assistants
- Present relevant product data in different languages and in different cultural contexts
- Registration and management of supplier product data
- Effectively disseminate high-quality, channel-compatible product information to all touchpoints
- Improving the quality of customer service
- Increase your brand awareness
- Provide information based on context
- Faster time to market
Conclusion
Today, manufacturers, brands and retailers must maintain continuous communication about their products in addition to corporate and brand communication. If you want to attract attention, you need an emotional story and that at all touchpoints.
Overview of the entire blog series
- Product Information Management (PIM)
- Digital Asset Management (DAM) and Media Asset Management (MAM)
- Product Experience Management (PXM)
- Master Data Management (MDM)
- Comparison of Systems/Solutions
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