Product information dictates whether a product sells or not. From the smallest detail that can be read, up to how an image is formatted, product content plays a key role for any business -- to sell. However, while it is universally accepted that product content is one of the cornerstones of a successful business, it is still challenging to fully and intelligently use it to its greatest potential. In the end, product content fails to live up to expectations because:
- There’s no solution in place to manage product data
- There’s a solution but it’s not robust enough
- There’s a solution but it’s not designed to focus on product experience delivery
So what can organizations do to make the most of their product data? Especially when managing data means working with thousands to hundreds of thousands of data? The answer involves adopting data management software.
What is product information management?
Product Information Management (PIM) software is a data management solution that allows you to easily manage and deliver rich, accurate, complete, and channel-ready product content – anytime, anywhere. Implementing a PIM solution to manage product data is key to start gaining the benefits rich product content can produce.
However, just implementing a PIM is still not enough. Consumers want their shopping experience to be easy and seamless. They want to know that a product is exactly what they need and therefore need to have access to rich, accurate, and up-to-date content. And they have options. If their experiences with your product are not great, they can easily go to another seller.
That’s why it's critical to provide exceptional experiences to your consumers. It all begins with creating emotional connections that will entice them to choose you over the competition. To do so, you must be able to predict what they want, how they want it, and when they want it. And you have achieved this using whatever data you may already have. This is not something a PIM can deliver alone. This is where PXM comes in.
What is product experience management?
Product Experience Management (PXM) is the management and contextualization of your product content for the right channel, location, and need. PXM enables the delivery of product information (that has been managed in a PIM) that is contextualized based on the channel, needs, and location of your consumers.
PXM in context
- Promotions. By streamlining internal work processes and automating workflows, your marketing team can focus on defining a promotional strategy and bringing products to market faster. You can then easily prepare products and promote them for upcoming events or seasons within your target audience. This boosts sales while making consumers feel like you know what they need at just the right moment.
- Recommendations and bundles. Bundling presents an opportunity for sellers to cross-sell or upsell related products that complement a shopper’s chosen items. These bundles can be offered as recommendations or add-ons that solve a customer's need. With PXM, product bundles are easily assembled as required by an event, promotion, or campaign.
- Campaigns. PXM allows the assembly of different batches of products with external communication, be it print or targeted email campaigns, in order to deliver a message adapted to a specific time of the year and always from a product perspective.
- Omnichannel publishing. With PXM, product presentations can be optimized for different channels. By pairing product information with a merchandising and marketing perspective, you can distribute it consistently across different channels in relation to promotions or enhancements you want to communicate to your customers.
- Analytics. An intelligent PXM system is equipped with functionality to measure product performances and review the results. That way, it is easier for marketers in your organization to make decisions for products that audiences need to see at the right time. You can also use these insights to continuously improve your customer’s product experiences as it enables you to perform tests for products you deliver to the market.
Adopting a PXM solution is critical for companies that want to make that very sought-after emotional connection to their customers. It is more than rich and up-to-date product information---it is how you deliver compelling experiences to your customers. It offers more than products; it makes them choose you because you connect with them through their experiences and needs.