Before you know what exactly is product experience management, you should answer the basic question: are your product content and digital resources optimized according to your client’s experience? More specifically, are you good at handling the product? If you’re not sure, think about why.
What is product experience management?
You are certainly aware that the data of your products should always fulfil the promises made to customers when they enter your store. This means that they must provide an engaging product experience in every sales channel and regardless of the device used by the customer. To achieve this, you need to ensure a good organisation of the customer’s journey through the store, which will end up buying your product. This becomes possible only when combining product information management with product experience management.
Product Experience Management (PxM) is therefore a method used by brands to provide the user with relevant content about a given product (use, etc.) to increase sales, build customer loyalty or expand the company’s market share. PxM is based on data analysis. It emphasises the attractive content of the product and constantly optimises it to bring the intended success.
PxM offers various functions. Including product content analysis, personalisation, contextualisation, automation and optimisation through machine learning (ML) and artificial intelligence (AI). It is therefore a decisive step forward in relation to product information management (PIM). It is quickly gaining importance in many industries and is widely used by various entrepreneurs. What innovations does PxM introduce?
Changes in building customer loyalty
What makes a customer want a product? These are not only its needs, but above all the emotional impressions the client experiences when contacting the product. They have a huge impact on a client who decides whether he or she want to buy the product. In the era of the huge amount of goods available, customers have become very picky. They can browse the store for hours, eventually buying nothing. Each SKU is therefore relevant and helps consumers make decisions. This is because customers analyze the quality and value of the product according to the standards they set.
If the moment of finding or even discovering a product changes into the moment of purchase, it accelerates brand recall and improves customer perception. In turn, in the event of disappointment, there is a high probability of losing a customer. According to research conducted by Accenture, as many as 42% of consumers can “offend” the brand. What’s more, one in five customers do it forever. Remember that your products are not completely unique. There is always some competition in the form of a different brand. Therefore, even small slip-ups in the product content at any point of contact with the customer can cost you a permanent loss of buyers.
Personalisation and contextualisation
Did you know that around 87% of current marketing leaders personalise marketing communications and campaigns? This is demonstrated by Gartner’s research on the state of personalization of advertising messages in 2018.
Therefore, without in-depth knowledge of consumer behaviour and their shopping trips, it is impossible to respond to their unpredictable needs in real time. The basis of shopping is that the customer finds relevant and valuable innovations that will inspire him to take action. However, it should be remembered that a properly implemented e-commerce platform also plays an important role in order to be able to optimise, measure and deliver experience tailored to the needs of its clients.
All kinds of experiences related to the offered product are influenced by the context in which the customer – product interaction occurs. Articles that are perceived to be emotionally relevant to customers in the context of their fears attract their attention. It is worth using contextual technologies to learn about the desires and interests of your clients, and then use them to attract their attention. A good example is, for example, a situation where the customer moves around the store and the display on the digital signage in the store turns into a pair of shoes that the consumer placed some time ago on his wish list. This is possible thanks to the iPhone application, which communicates in the background with the iBeacon store and, taking into account the context of the customer, shows him the preferred item on the label.
AI and ML create experiences
The PIM system usually equips the e-commerce platform with basic product data that is in stock and presents it to customers visiting the store. On the other hand, search engines based on artificial intelligence (AI) are increasingly combined with PIM to obtain the largest possible amount of information about products and start the learning process. This is because consumers repeatedly search for products on the site. When an AI process is taking place, PIM continues to collect only relevant information based on the relationships and criteria initially specified. In the case of intelligent search based on artificial intelligence, information is collected from the customer, so you can present products in a detailed way that goes beyond his expectations. However, for AI to work flawlessly, it needs information from PIM in the most organised way possible.
What is ML needed for? Machine Learning can be implemented to shape contextual knowledge charts for a given product category, which can be associated with various customer segments and sometimes also with individual users. Thanks to this, it is possible to predict likely purchase scenarios and modify them in accordance with new information received on an ongoing basis.
PIM and PXM
PXM suppliers make every effort to complete their product with the last button and position themselves separately from conventional PIM software suppliers. They are well aware that maintaining and adding data about new customers ensures the creation of perfect product weighing. They usually result from effective response to difficult situations occurring in various customer service channels.
Personalisation engines and API connectivity play a key role in delivering product content wherever customers require it. They help to increase customer confidence and increase the number of purchases made by them. What’s more, they enable sales teams and marketing departments to achieve better growth and quick time to market.
Product Experience Management is the link between various data sources and customer-oriented systems. Therefore, it must guarantee flexible and huge integration possibilities to track data changes and offer support for many different types and formats of data. It is a really good tool for any type of eCommerce business. So if you want to increase the number of your satisfied customers, go for an innovative solution, which is certainly PXM!