<img src="https://secure.leadforensics.com/176401.png" style="display:none;">

What is Product Experience Management (PXM)?

3 minute read
Get our blogs in your inbox

What is Product Experience Management (PXM)?

There is no one-size-fits-all solution to fast-tracking the path to becoming the leading brand or business in an industry. However, one universal element is essential to getting there: product experience. 

Product experience is about more than just high-quality products. It delves into the emotional and practical aspects a customer encounters when buying a product. It involves the entire journey, from the initial discovery to the final decision to purchase, influenced by detailed product descriptions, high-quality images, and the overall presentation. These nuances create a compelling narrative that can significantly impact the buyer's confidence and decision. Product Experience Management (PXM) is pivotal in orchestrating these elements to deliver a cohesive and satisfying experience.

Product Experience Management (PXM) is a method that turns product information into real-time, engaging experiences that meet customer expectations. It transforms PIM systems into engines that deliver personalized, context-sensitive product content using Artificial Intelligence (AI) and Machine Learning (ML) for analysis, personalization, and optimization. This strategy ensures dynamic, targeted communication across all platforms, building an emotional bond with customers by tailoring to their specific needs, locale, and channels.

Why is Product Experience Management (PXM) so important?

The quality of the product experience significantly shapes a customer's view of a brand, impacting their buying decisions and loyalty. This experience affects customer retention rates, product reviews, and word-of-mouth promotion. Research has shown that customers with superior past experiences with a product or brand are likely to spend 140% more than those with negative experiences

Additionally, consumer choices are abundant due to digitalization. Delivering an exceptional product experience becomes even more critical to standing out from the competition and building a dedicated and loyal customer base. A Salesforce survey of over 6,000 consumers revealed that 66% expect companies to understand their needs and expectations. At the same time, another report cites that 82% anticipate that businesses will accommodate their preferences and meet their expectations. This leaves little room for error in terms of sales, marketing, and customer service strategies.

Advancements in technology, particularly the rise of AI, have significantly heightened customer expectations for personalized experiences. According to the same Salesforce report, 73% of respondents expressed a desire for complete customization, asserting that new technology should facilitate tailored experiences.

As the significance of PXM becomes more apparent, understanding how it fulfills its promise of enhancing product experiences, boosting sales and revenue, fostering customer loyalty, and improving product offerings is just as crucial. It’s essential to recognize the key components that constitute an effective PXM.

What are the key elements of a winning PXM?

The key elements integral to PXM play a significant role in shaping a compelling product experience. Recognizing these components is crucial for improving the customer journey, enhancing engagement and satisfaction, and ultimately contributing to business success.

  • Product data management — Product data management is at the core of building a robust product experience, which hinges on effectively gathering, enriching, and disseminating product data in various formats from multiple sources. This process ensures that all product-related content, including descriptions, pricing, and multimedia, is readily available and consistent across online and offline channels. Such consistency streamlines team workflow and fosters customer trust through uniformity in all channels.
  • Contextualization — An effective PXM strategy focuses on aligning product information with the unique circumstances of the customer's journey, including location, language, and past interactions. This contextualization is essential for boosting customer satisfaction and loyalty, leading to brand advocacy and customer acquisition. A key element of PXM is having a system that supports this contextualization through seamless integrations, removing obstacles across all channels to deliver a coherent and personalized customer experience.
  • Content personalization — McKinsey & Company reports that businesses that excel at personalization generate 40% more revenue than their less adept competitors, particularly in the US. Personalization allows businesses to target customers individually rather than in segments, leveraging various touchpoints for a customized shopping experience. It facilitates product alignment with customer preferences across different channels and regions, enhancing product recommendations and building meaningful customer relationships.
  • Real-time customer experience management — A survey conducted by Gartner found that 89% of the participants stated that they intend to compete based on customer experience alone. This goes to show how customer experience is an integral part of product experience management. However, customer experience management alone is no longer enough. It must be relevant, so it needs to be real-time.
  • Artificial Intelligence — The AI software market, projected to hit $126 billion by 2025, reflects the growing adoption of AI in various sectors, where it automates and simplifies complex processes and ensures consistent product information quality. Integrating AI with Product Information Management (PIM) systems offers innovative solutions for data onboarding, validation, and normalization, addressing the challenges of managing vast and complex product data.
  • Channel-agnostic — PXM equips businesses with a way to centralize product data, ensuring consistency and quality across all platforms, from online to in-store. This drives a seamless shopping experience as managing channel requirements becomes easier with automated workflows for an accelerated process.

While PXM stands out for delivering impactful product experiences, it doesn't operate in isolation; it requires the right software platforms to manage the varied processes and workflows critical to its success. Although PXM is often used interchangeably with Product Information Management (PIM), they are distinct entities with different focuses and functionalities.

What is the difference between PIM and PXM?

Product Experience Management begins with PIM

The journey to PXM begins with consolidating fragmented data sources, formats, and structures for cohesive and efficient data handling and ultimately creating a single source of product truth. A PIM system is the solution to carry out this massive task of managing product information and making it available in the right format across all channels. However, PIM alone does not guarantee the delivery of an impactful and positive product experience. Providing emotionally charged interactions is only feasible when there is a mechanism for customers to communicate their desires and preferences to the company. And this is where PXM comes in.

The Forrester Wave: Product Information Management, Q4 2023 Report

Find out how Contentserv, a Strong Performer in PIM solutions, can help fuel positive product experiences.

PIM and PXM serve distinct yet interrelated roles, each focusing on specific aspects and functionalities within the spectrum of product management and customer experience. Together, they fuel product experiences.

  • Information and experience
    • PIM — The backend management of product data, focusing on gathering, organizing, and efficiently preparing product information for distribution.
    • PXM — Extends to improving the customer experience, emphasizing how information is presented and utilized to engage customers across different channels.
  • Operational efficiency and customer-centricity
    • PIM — Enhances operational efficiency, streamlining data management and ensuring consistency across platforms, primarily serving internal business needs.
    • PXM — Focuses on the customer's journey and interactions with the product, using structured data to create impactful product experiences.
  • Data management and sales and marketing strategy
    • PIM — Underpins data accuracy, compliance, and operational efficiency, essential for smooth business operations.
    • PXM — Uses structured data to drive marketing and sales, tailoring the shopping experience based on customer data to influence purchasing decisions and boost customer loyalty.

4 primary reasons why PXM is beneficial for businesses

Accurate and comprehensive product data boosts sales and loyalty, going beyond mere feature display to how customers engage with and perceive the product. Seamless product data integration is vital to attracting and retaining customers, enabling informed purchase decisions, and facilitating personalized experiences through customer insights.

Specifically, a PXM strategy delivers:

  1. Enhanced customer experience: PXM ensures a uniform experience across all touchpoints, centralizing product data management for consistent distribution. This uniformity allows customers to have the same positive experience and message on any platform, enhancing their ability to make informed decisions and building trust in the brand.

  2. Increased revenue: By delivering relevant and precise product information, PXM can elevate sales as customers are more inclined to buy when presented with detailed and engaging product data. It also facilitates the identification of cross-selling and upselling opportunities, increasing revenue potential.

  3. Improved brand perception: PXM contributes to a robust brand image by offering a smooth and cohesive customer experience. The consistent delivery of high-quality product content enhances the brand’s market presence and fosters customer loyalty.

  4. Boosted productivity: PXM simplifies product information management by centralizing data, reducing manual workload, and enhancing efficiency. It fosters team collaboration, saving time and resources while streamlining the data management process.

Additionally, PXM and its suite of AI-powered solutions are crucial to:

  • Centralize product data to ensure accuracy and completeness across all customer touchpoints
  • Accelerate the integration of new product information to minimize onboarding time
  • Enhance omnichannel experiences by optimizing how customers interact with products across various platforms
  • Create more opportunities for cross-selling and up-selling
  • Personalize customer interactions consistently across different channels
  • Provide relevant and timely product recommendations to customers
  • Cultivate stronger customer relationships and foster brand loyalty
  • Increase the efficiency of digital marketing initiatives
  • Analyze product performance, understand customer purchase patterns, and gain insights into buying behavior

This highlights the importance of a robust PXM strategy, which empowers businesses to enhance their product presentation and experience quickly and effectively across digital platforms.

How can Contentserv help businesses implement PXM effectively?

Deploying a PXM strategy involves significant challenges, necessitating a broad array of resources encompassing personnel, processes, and technology solutions. It's a comprehensive effort spanning the entire organization, demanding careful coordination and communication to succeed.

For technical execution, PXM implementation requires:

  1. Structured workflow organization
    PXM implementation demands a clear, structured workflow involving key stakeholders like product managers, IT teams, marketers, and content managers to ensure consistent, accurate, and relevant product information across all channels. The process begins by breaking down data silos within the organization and automating the integration, consolidation, and standardization of product data from diverse sources. Contentserv streamlines this process, enabling the transformation of scattered product data into high-quality, manageable, and distributable information, establishing an efficient workflow system.

  2. Channel-specific data distribution
    To effectively distribute product information, it's crucial to customize the content to meet the specific needs of each channel, requiring a thorough understanding of the target audience and the distinct features of each channel. Contentserv facilitates this process with its "create once, publish to many" strategy, enabling multi-channel publishing. It ensures consistent distribution of superior product catalogs and digital assets across suppliers, resellers, distributors, marketplaces, and additional ecommerce channels. Contentserv's integration with Shoppingfeed further optimizes data flow across diverse channels, facilitating inventory synchronization and automating order processing. 

  3. Continuous content optimization
    To ensure product information remains up-to-date and reflects the latest market insights and customer feedback, continuous monitoring and analysis of market trends, customer behavior, and the competitive landscape are necessary. This approach balances the need for timely updates with the accuracy of the information. Contentserv pays special attention to enhancing this process by integrating insights from syndicated channels, enabling informed decisions that sustain the relevance and impact of product content for the target audience. This strategic approach helps maintain the currency and effectiveness of product information, aligning it with consumer expectations and market dynamics.

  4. Global translation and localization
    Handling product information across various languages and regions presents a challenge, requiring a comprehensive translation and localization process to ensure uniformity and precision in all versions. Contentserv not only seamlessly connects with leading translation providers such as TransPerfect but also integrates advanced AI-based translation and content creation tools such as DeepL and ChatGPT to enable efficient, seamless translation and localization of content and all relevant attributes such as lists, currencies, units of measure, and more. 

  5. System integration
    Successfully integrating PXM with existing systems like ERP, CRM, and CMS involves understanding the complex data architecture and facilitating seamless data transfer between these systems. Contentserv eliminates typical integration challenges through its headless integration using a single back-end engine while delivering localized content through easy-to-manage custom front-end UIs.

PXM: Transforming experiences. Driving success.

Product Experience Management (PXM) is essential for businesses aiming to excel in today’s digital marketplace. PXM transcends traditional product information management by delivering a comprehensive and engaging customer experience across all touchpoints. It provides a 360-degree view of the product, enabling customers to see all aspects, including its attributes, specifications, and potential applications, offering a complete understanding of what the product entails and how it can be utilized. In addition, PXM integrates detailed product descriptions, high-quality images, and personalized content to form a narrative that resonates with customers, influencing their purchase decisions and fostering brand loyalty. For businesses seeking to differentiate themselves in a competitive environment, PXM is a strategic move that can drive success in the digital age.
Contentserv’s Product Experience Management (PXM) for customer-centric brands

Our AI-powered PXM suite is an ecosystem that drives compelling product experiences.