Product Experience Management, or PXM, is essential in today's crowded digital commerce landscape. Offering customers a superior product experience is now crucial for brands looking to compete and thrive.
According to Appcues' 2023 Product-Led Experience Report, 82% of survey participants noted increased user expectations within the last 1-2 years. Given today's increasingly competitive environment, this reality should come as no shock; your customers now enjoy more choices than ever before.
88% of respondents strongly believed in providing product-led experiences to stand out and remain competitive. This highlights how vital product-centricity is in meeting customer expectations and ensuring long-term success within today's business environment.
This article will delve into PXM to better understand its implementation.
What is product experience management?
Product Experience Management (PXM) is an approach for shaping and managing customer interactions with your products across platforms and touchpoints. If you sell electronic gadgets as a retailer, PXM includes curating their physical features and any associated data or images.
For example, if you sell cutting-edge smartphones, PXM would ensure their features and benefits are accurately presented on your website, mobile app, and any social media platforms where they're being displayed. Beyond simply listing technical specs, PXM involves crafting compelling product descriptions emphasizing its unique selling points while providing high-resolution images so potential buyers can examine the phone from all angles.
The benefits of PXM
Examining its many advantages for brands is necessary to understand the significance of Product Experience Management (PXM). PXM should not just be seen as a passing trend; we will explore its substantial benefits to businesses that embrace PXM as an essential strategic imperative.
Consistency across channels
Imagine being a customer navigating the digital realm of an esteemed global brand like Apple. From exploring their website to engaging with their mobile app and products on social media, your experience remains seamless throughout. This consistency not only builds trust but also reinforces brand loyalty.
Now let's dig deeper: when visiting Apple's website to browse their newest iPhone model, its product information, images, and user interface match those found on their app or social media profiles. This level of consistency reassures customers; they know they can count on Apple to deliver a seamless digital experience regardless of where their interaction occurs.
This example illustrates the practical effects of Product Experience Management (PXM) to ensure customers consistently encounter your brand's essence, building trust and creating long-term loyalty among your customer base. Find out how omnichannel ecommerce can transform your business.
Comprehensive product information and images
Let's take a moment to consider an established global online marketplace such as Amazon. When you search for specific items like high-end cameras, Amazon offers detailed product information and high-resolution images so you can virtually inspect each product angle and make confident buying decisions. This wealth of knowledge empowers consumers to make informed buying decisions with ease.
Consider all the information Amazon makes available and accurate across its vast catalog, comprising millions of products. This is achieved through Product Experience Management (PXM). PXM ensures that, like Amazon, your brand provides customers with comprehensive, accurate, and readily available product data that facilitates decision-making while building trust in the brand - ultimately driving sales and customer satisfaction.
Improving operational efficiency
Coca-Cola is an iconic multinational corporation. Operating efficiently is crucial to their success, from maintaining consistent beverage recipes worldwide to managing and disseminating product information effectively.
Product Experience Management (PXM) would prove instrumental for Coca-Cola in managing product data more efficiently. PXM reduces manual errors when manually updating beverage details, ingredients and marketing materials and saves time by centralizing all this vital information. PXM helps them quickly update and disseminate it across platforms to provide their target audiences with accurate, consistent product data updates.
How brands can improve their product experience management
Now we have explored the fundamental concepts and benefits of PXM, let's delve into strategies that will enable your brand to flourish in this critical area.
Integrated ecommerce solutions for successful enterprise
Brands looking to excel in PXM should invest in multi-channel ecommerce software. These platforms consolidate product data into one manageable source for easier distribution across sales channels. Additionally, this integration allows real-time updates so your customers consistently access the most up-to-date information.
High-quality product descriptions and images
Your product descriptions must go beyond mere feature lists - they should tell a compelling story. Use persuasive language and present high-resolution images from various angles of the same product to keep customers engaged while increasing conversion rates. This combination attracts customers and drives conversions.
One study discovered that 87% of online shoppers use product descriptions when purchasing. Product descriptions ranked among the top three factors impacting online customer purchasing decisions for clothing, electronics, and grocery products.
Utilizing the potential of personalization
Personalization is at the forefront of ecommerce. By employing AI-powered recommendation engines that analyze customer behavior to provide products tailored to individual preferences, personalized experiences can increase customer satisfaction and sales.
56% of customers anticipate personalized experiences, and 69% are open to using AI to enhance them.
J.Crew utilizes its customers' purchase histories and product page history to recommend clothing they know will attract their interest.
In the example above, J.Crew has provided one of its customers with recommended sweaters and joggers after purchasing one similar to it.
