What Does PXM Mean?

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by Lumavate | Last Updated: Oct 30, 2023

What Does PXM Mean?

PXM stands for product experience management, and it's defined as the delivery of a compelling and accurate product experience. All companies, even the ones with limited product SKUs, can benefit from PXM because it ensures all product-related content is thorough and up-to-date. The best product experience management will also need to account for the context in which each product is being considered.

There are numerous product experience examples to learn from, but they all come down to tailoring the content based on the scenario. So let's say you have a buyer who is walking through the aisles of a brick-and-mortar store, and they have questions about which product to purchase. If they were to look up the products on their mobile phone, the information displayed should be tailored to the mobile experience, however, the product specifications should be consistent with what is printed on the packaging. Consumer confidence is built on consistency.

With the right PXM software, you can build multiple contingencies based on the outcome you're looking for. To make the most of it, manufacturers are encouraged to take the following steps:

PXM is a part of the customer experience. When a majority of customer interactions are deeply tied to the products that a brand offers, the goal is to provide everyone with a tailored experience that will make their buying journey as seamless as possible.

What Are the Benefits of PXM?

PXM solutions vary based on the software provider, though most products on the market typically offer the following perks to improve a company's product experience strategy:

What Is a PXM Platform?

A PXM platform is a third-party solution that often includes both Product Information Management (PIM) and Digital Asset Management (DAM). These two terms delineate the type of information you're working with. A PIM solution makes it possible to manage and store data about the product, while the DAM functionality allows you to manage and keep all digital assets related to the product. DAM can include anything from documents to photos to videos of the product.

If you need a particularly user-friendly platform, the best PXM software companies typically include a Digital Experience Platform (DXP). This tool allows you to further streamline all digital experiences for the customer without having to code. When marketers are often expected to present information for a variety of use cases, whether it's a website or an event, they can use the DXP to automatically fill in the relevant assets from both the PIM and DAM so the team can tailor the information to each use-case.

What Is the Difference Between PXM and PIM?

If you're comparing PXM vs PIM, you should know that both are designed to help companies centralize data for each product. The difference is the scope of the functionality. With PIM, you'll be able to store some of the relevant data about each product, but this may not include photos of the product, videos showing how to use it, or detailed user instructions. PXM expands the capability of your production management, allowing you to gather all relevant data and store it in a way that everyone can easily find.

The right product experience strategy needs to account for more than just the basic dimensions and functionality of each product. Customers today expect more from the buyer's journey, particularly when they know what's possible when companies invest in the right technology. It's important to remember, though, that not all PXM software is the same. Some companies will offer capabilities while failing to mention that they're relying on third-party services to provide them. If you're looking for a cost-effective solution that works, it's important to choose a company that's as transparent as they are reputable.

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