Blog » Product Experience Management (PXM): Everything You Need to Know
Product Experience Management (PXM): Everything You Need to Know
Author name: Maksym Bilokon
Providing a great product experience to clients is not an option; it’s a vital factor in making your brand stand out and helping you enhance customer loyalty. When we talk about creating and distributing entertaining product content to customers, the first thing to mention is product experience management. If you are looking for valuable data on this topic, this article is exactly what you need. Keep reading because we will explain why PXM is so important and how it differs from product information management (PIM). We’ll also show some great tips for optimizing your PXM strategy.
What Does PXM Matter, and Why Is It So Important?
PXM, or product experience management, is a complex approach that allows sellers to deliver unique customer experiences to clients when they engage with company products. This approach is strategically important for e-commerce businesses as it helps companies optimize and adapt products across multiple channels.
The importance of PXM is also in its ability to integrate with multiple aspects of digital commerce, including product information management, various marketing tools, market research, and customer relationship management (CRM) to create a product experience that will keep customers satisfied. At this part, it also makes sense to mention the key benefits of PXM:
- Personalized customer data across multiple channels. PXM processes customer data to create personalized product experiences focusing on individual preferences, demographics, and behavior during the previous shopping. Once you personalize the experience, your engagement may significantly rise compared to what you had before.
- Search optimization and product discovery. Once you successfully implement a product experience management strategy, you’ll see how it improves searchability and product discoverability. All the products will be categorized, and the keyword search will make the search process much easier.
- Fast content update. With product experience management implementation, you will be able to update your content rapidly and customize information according to current trends, customer behavior, and other factors.
- Complex product data. With PXM, you have full control over data and are able to deliver detailed and accurate product information. By product data, we mean descriptions, pricing, media files (images, video guides, etc.), and product availability. The delivery of accurate product data becomes crucial for customer satisfaction.
- Cross-channel consistency. With product experience management, you can be sure your data remains consistent with both online and offline channels. At the beginning of your e-commerce business, consistency is extremely important as it allows you to build credibility and maintain brand integrity.
What Is the Difference Between PXM and PIM?
It may be complicated to spot the difference between product information management (PIM) and product experience management (PXM), so it makes sense to clarify and explain how these practices differ.
First of all, we should mention that product information management stands as a digital tool, while product experience management is more like a methodology. At the same time, PIM becomes crucial for the success of PXM because it’s responsible for centralization and improving the quality of product-related information. When you have high-quality data from a single source of truth, it’s much easier to tell your story and make your clients satisfied. Simply saying, PIM is responsible for “what” you use for product description, while PXM shows “how” you do it.
How Does a PXM Work?
Once we’re done with the initial description, it makes sense to move to the practical part and see how product experience management works. We won’t go through every small detail but instead focus on three key aspects: omnichannel sales, product personalization, and contextualization of information for its relevancy.
Omnichannel Sales and Consistency
Over time, more brands and retailers change their approach switching to omnichannel marketing. Such an approach highlights the importance of meeting consumers using every possible channel, including offline sources (printed catalogs and in-store promotions) to social media and online ads on various platforms. This approach leads consumers to the product regardless of where they enter the funnel. It also increases the chances of customers engaging with the products and makes more impact than the approach of a single-channel promotion.
Personalization: Tailoring the Product Journey
Clients have to receive personalized content at every stage of their journey. Whether they read descriptions, check stats and settings, look at the images, or watch video guides, they want to have personalized content. Product experience management works to provide clients with personalized, relevant, and updated information.
Contextualization: Delivering Relevant Information
In the modern shopping landscape, providing relevant product information is essential to make clients purchase your products. Product information must be relevant to them in the context of culture, language, usage experience, etc. Using the same message for everyone is no longer relevant, so you have to change the approach, making the right content a part of your
The Power of PXM for E-commerce Success
Before you actually start integrating product experience management, you should know the advantages it can bring to you in case
Cross-Channel Brand Consistency
Composing accurate brand information for one channel is not enough. If you want to maintain brand consistency and make your brand stand out, you have to maintain brand experience for all sales channels. It’s extremely important to build loyalty and create a credible brand where the connection between customer and seller will remain stable.
With PXM integrated into your brand development process, it gets much easier to build brand consistency across multiple channels and switch to other aspects of online selling.
Compelling Product Listings that Convert
Individuals who enter the market to find the needed product immediately receive dozens of options from online stores where everyone wants to draw attention and become the #1 choice. Compelling and unusual product listings become game-changers that encourage customers to make a decision in favor of your brand. Once you use a powerful PXM solution to develop your business, you will build engaging product listings that have:
- Relevant high-volume keywords to draw attention and make the products stand out.
- An eye-catching thumbnail image that shows the exact look of the product.
- High-quality visuals that describe the product from all angles.
- Detailed and accurate descriptions.
- Relevant price
- Optimized layout, visuals, and information.
Personalized Online Shopping Experiences
People who enter online stores want to receive a unique shopping experience that matches all their needs and is crafted specially for them. For example, a large majority of consumers think that messages from companies are annoying and do not have any real value for them. At the same time, brands keep sending ads to clients that match the portraits of the target customers because they encourage them to make a purchase.
Once PXM solutions are integrated into your brand system, you can deliver personalized customer experience tailored to the needs of the target audience. You can:
- Easily adapt product content for various regions and languages.
- Showcase prices in the local currency for every market.
- Create product recommendations based on data analysis
- Create and deliver promo materials based on customers’ locations, preferences, and demographics.
How to Optimize your PXM Strategy?
Once you’ve implemented your product experience management strategy, you have to monitor its performance and analyze how it impacts your sales. It’s obvious that the same methods won’t work all the time, and you have to maintain your approach. Below are some steps to take to optimize your PXM strategy if it stops working.
Leveraging Existing Systems to Build PXM Capabilities
Sometimes, you don’t have to radically change the existing systems to get advance your current methods. You can revise the system and outline key elements that are not used properly or are not used at all. Once you do it, your PXM capabilities will grow.
Monitoring and Updating Product Content
Dynamic content is the key to success in e-commerce. Since retailers and sellers receive new products or update old ones, they must ensure that the product information is also updated, especially when the market changes. You can customize descriptions and other product data in real-time, making sure your clients won’t miss anything.
Using Analytics for Continuous Improvement
You won’t succeed unless you analyze your performance and look for gaps. You must know how the products perform across multiple channels, what works better, and what should be changed. Feedback is also an important part of development for product experience management. You have to analyze testimonials and react to what customers say. Usually, getting insights from clients becomes more valuable than analyzing information from the reports.
PXM - The Key to Unlocking E-commerce Growth
Product experience management (PXM) is crucial for achieving success in the e-commerce industry. With PXM, it’s much easier to tell the story of a specific product while keeping the data consistent and updated. It’s also much easier to update the existing data and optimize it to improve searchability. PXM is the right solution for your business, especially when you find the one who can implement it for you.
Modified on: 07/24/2024