Product Experience Management

PXM: The opportunity to stand out in all areas through unique content

Marketing strategies are becoming more and more extensive for employees of manufacturing and retail companies. Not only are there more and more sales channels available, which continue growing and changing in popularity according to consumer habits, but an international focus is also becoming increasingly important.

This omnichannel perspective may end up being mortal chaos for any business that does not start from a consistent and solid basis. And in product sales, this basis is the content that is offered to the user regarding each product, to form an unforgettable experience and an easily identifiable brand image.

The impact of PXM on the shopping experience

The major problem that the world supply chain is facing today, and which will continue to be a challenge in the near future, is scarcity of raw materials. This affects production and stock availability across many different industries and product categories.

To prevent this difficult situation affecting the brand image and leading to frustrating experiences for buyers, it will be more and more important to update product information with more accurate stock information that is adjusted in real time, to show exactly how many units are available, when new stock is expected or which products have been discontinued from the catalog, whether provisionally or permanently.

There are 3 stages involved in the product experience:

This means that a PXM strategy is not merely focused on generating quality catalog content that is attractive for Google and a specific customer profile. The impact of product experience management goes beyond this, also affecting the waiting times for receiving a product, the agility of the updates regarding stock shortages that are received by a consumer interested in a product, and the agility of communications regarding any possible changes after the receipt of an order, if there is some issue or fault related to the product received.

Product Experience Management tools are designed to standardize, enrich and distribute product content at all stages of the supply chain and the buying process.

• 1Standardization of information
• 2Market and user behavior analysis
• 3Content enrichment
• 4Omnichannel distribution
• 5Personalized experience

The key DAM and PIM tools for a PXM software ecosystem

The majority of customers these days will make at least one online purchase throughout the year. Most of them (Gen Z and millennials) have grown up using e-commerce buying channels, in special marketplaces, and are used to combining many different information sources.

This means that there is no good, valid product content that can be thrown out into the world and be expected to work everywhere. The key to product experience management is producing product content that is adapted to every channel and to the e-commerce buying experience expectations of every type of buyer.

With this strategy it is essential to rely on the technology created for this digital environment inhabited by native online buyers and companies that need to share information in a world with less physical interactions and higher demands for agility than ever.

Tools like DAM (Digital Asset Management), esigned for managing multimedia resources, and PIM (Product Information Management), a specialist tool for centralizing and enriching product information, are focused on creating a quality PXM software or digital product experience ecosystem for distributors, manufacturers with networks of customers and sellers with their own networks of suppliers.

The role of PIM in a Product Experience Management strategy is to both ensure there is quality content everywhere that is easy to find and share between departments and various participants in the commercial chain, and to provide a platform where you can work quickly, from anywhere in the world, to respond to changes regarding the catalog, stock, demand and requirements of marketplaces like Amazon or regulatory changes within a product sector.

The benefits of a good PXM strategy

Better positioning

Product information is key on Google: the websites that stand out online are those with the richest and most innovative information. A product experience based on enriched content increases the chance of appearing in the top positions of search engines, as well as in online marketplaces like Amazon.

Better customer service

Since the products are not only located on physical shelves or in search engines, there are more buying actions that require a positive product experience. Voice assistants like Siri or Alexa, and virtual assistants like chatbots, which are used on many e-commerce websites, can identify product details more easily and make more precise recommendations if they are based on quality content.

Updated sales network

All distributors and retailers can access accurate catalog information from suppliers if it can be shared in an agile way, updated in real time and be ready for use on any channel. This saves time for all parties involved as sellers don’t need to check missing details with the manufacturer, and brands won’t be affected by sellers who have copied incorrect details.

Agile launches

Quality is the hallmark of a product experience for today’s consumer. However, so is speed. If the brand or seller uses tools that help them offer an enriched and easily adaptable product experience, they will be able to adapt to demand quicker, launch products and updates on time, and keep pace with the market and the competition.

Personalized content

The era of Google Translate is over. For a product to be successful on any market, it is no longer enough to put details through an automatic translator and expect it to work, for online positioning or for buyers.

Today it is essential to offer original and unique content that is adapted to the particularities of each market, country and culture. A good product experience management strategy will take into account these key nuances, and the tools that support it, such as PIM, allow you to manage content by channel in a more controlled and easily adjustable way.

Increased conversions

At the end of the day, the aim of a good product experience is to make sellers and customers happy. If you can do this, then the purchase is a success. And for this to happen, the product must meet the buyer’s expectations.

Of course you should be offering a quality product, but it’s equally important that the product details provided throughout all the channels are comprehensive and consistent, so they don’t cause confusion (badly explained sizes, low quality images, incorrect technical data, etc.).

PIM technology that supports a product experience management strategy will allow any business to increase satisfaction and significantly reduce rates of return.