What is Product Experience Management or PXM?
Product Experience Management is critical for any brand that wants to sell their products online. If you want to create and maintain a consistent brand identity, build emotional connections with shoppers, and provide rich and compelling product experiences online, then a PXM tool is just what you need.
What is Product Experience Management? A PXM definition.
Product Experience Management is about delivering the right information to the right place at the right time to increase sales and share of e-shelf. While Product Experience Management is a process, software platforms that help you manage this process are called PXMs. So, a PXM tool helps you manage everything you need to ensure consumers get the rich product experience you want them to have online in every retail channel they encounter your product.
A complete Product Experience Management process should focus on managing and enriching your product data, storing and linking digital assets, pushing or syndicating data to the right channels, and finally gathering data and insights on the performance and readiness of your catalog on the digital shelf. Traditionally, brands would have a technology stack of multiple providers, each focused on one piece of the process. In the past several years, there have been a handful of providers who are able to provide one interface that can manage the entire end-to-end process. As an example, the Brandquad PXM suite is composed of our Product Information Management (PIM), Digital Asset Management (DAM), Data Syndication (DS), and E-commerce Intelligence (ECI) modules. While each of these modules can operate independently, having the end-to-end solution allows the modules to seamlessly interact and give powerful insights to e-commerce teams.
Why is Product Experience Management a hot topic in the eCommerce business?
Modern consumers expect convenient and personalized shopping experiences online. They expect an unlimited assortment of products and user-friendly experience of every digital retailer. To complicate matters even more, consumers don’t have straightforward buying processes, often interacting with a product in multiple channels and different touchpoints.
To win on the digital shelf, brands are focused getting their products in front of consumers as much as possible and in as many ways as possible. This can be cumbersome to manage, especially across multiple retailers, so they are turning to technological solutions like PXM to help them automate repetitive tasks, ensure a sense of data control and brand consistency, and gather insights from the massive amounts of data that now exists.
The brands that can efficiently manage the Product Experience Management process are the ones that are better positioned to increase revenue from digital channels and win the digital shelf.
Do I need a PIM or a PXM? What’s the difference?
This is a common question as there can be some confusion. A PIM allows you to manage and enrich your product data. In many ways, it is the foundation of a PXM, but it is not a full PXM. You can read more about Product Information Management here. A PIM is only one piece of the puzzle and is focused on the WHAT your Brand is saying about products, but a PXM is concerned with even more. A PXM also focuses on the HOW, WHERE, and WHEN on top of the WHAT. So you need a PIM as part of a PXM, but you need the other pieces as well, such as the DAM, Data Syndication, and digital shelf analytics.
How to start doing Product Experience Management?
Chances are you are already doing it at your company. But you are probably doing it very manually or with multiple piece-meal software solutions.
If you are interested in learning how you can optimize, automate, and take control of your Product Experience with a PXM, then we invite you to have a quick discovery call with our team.