What Is a PXM Tool?
by Lumavate | Last Updated: Jan 21, 2024
by Lumavate | Last Updated: Jan 21, 2024
To engage your customers, you need to carefully consider where they are on their buyer’s journey and how they want to interact with your business. Knowing what people are looking for, and their priorities can help you shape experiences that keep them interested in everything you have to share. However, properly managing this aspect of the customer experience comes down to effective product experience management. If you have not considered the value of this part of brand building, let’s explore what you need to know and what it can do for your organization.
To bring new customers into your business, you want to deliver an outstanding product experience. When customers have an excellent product experience, they receive accurate, relevant information about your products, and how these products can help them. They receive information relevant to their particular use case and what pain point they want to resolve.
Depending on your products and your target markets, this might look different in various situations. For example, creating a product catalog to help you highlight your offerings for a trade show requires different information and a different experience than creating a digital experience that educates in-aisle buyers.
Knowing the type of experience you want to create and how you want to engage your target audience during this interaction will guide how you design your experience. You need to take into account key factors such as:
Why will people access this specific information?
Who is accessing the information?
What are your audience’s goals at this moment in time?
The more equipped you are to take these factors into account, the easier it will be to create product experiences that delight your leads and customers and keep them engaged. Consider the product experience examples described above and how they might differ for your organization. Think also about the other types of product experiences you might need to create for your business. As you start to build this list, you will quickly see how product experience management is an extension of your customer experience.
Since most of your customer-based interactions likely revolve around your products in the manufacturing and related fields, how customers interact with your products must be paramount. Your goal should be to provide every customer with a personalized product experience that reflects their needs and priorities throughout the entire customer journey.
To help you create these superior experiences, you can turn to product experience management software. It will help you manage these different experiences and define how you want them reflected for your business and your customers. Let’s look more closely at the value of software that can help you in this area.
When you set out to build superior product experiences for your customers, product experience management software, or PXM software, can provide you with critical assistance. A PXM platform is a third-party software solution that typically brings together a Product Information Management (PIM) solution and a Digital Asset Management (DAM) functionality to create a single source of truth for all your product information and resources.
With the ability to centralize and manage all your product data from a single location, you will find it easier to think about what you want to see in the product experiences you offer and how you want to build these resources. With The DAM, you will be able to manage and store all your digital assets. These assets include creations such as:
Product introduction videos
Documents about the products
How-to or troubleshooting videos
Since you have all your resources in one place, you can see what you have to offer on each of your products and how you can use them in different types of circumstances with your customers.
Some PXM Platforms, such as Lumavate, will also offer you a Digital Experience Platform (DXP). With this additional feature, you can easily create any type of digital experience without having to be an expert in code. Since the system has been set up to be easy to use for people of all coding skill levels, the people on your teams most interested in creating digital product experiences, typically your marketing team, will be able to fully capitalize on the capabilities independently.
With the additional features of the DXP, your team can create experiences for countless different use cases, such as:
Digital education experiences
Troubleshooting and assistance experiences
All the experiences they create can automatically pull data from your PIM and the applicable product content and assets from the DAM. Since the information is connected, this also means that the experiences created can quickly be modified if your business needs to make any changes to product specs or assets. By updating the data in the PIM and DAM, the DXP can quickly put this new information to use, keeping your experiences updated and relevant for your customers.
When you start hearing about the capabilities of PXM vs PIM, it is easy to see how these two tools might sound similar in how they help with product information management. However, as you look at PIM software examples, you will quickly see that while PIM functionality is critical for every manufacturer, the best PIM tool will be one that brings together a more robust functionality through a combination with a DAM and even a DXP. You want a PIM solution that works as one part of the larger PXM platform, which allows you to expand the capabilities of your product information management and create enhanced experiences for customers across the sales process.
As a part of this product information management process, businesses will also likely need to employ a product experience manager. The product experience manager will take the lead in orchestrating the product experience for one or more of the products your business offers. This means that they are held accountable for the product experience, although it is important to recognize that developing the strategy and its implementation is cross-functional and may require input from different teams.
In some organizations, the product experience manager role will be filled by a full-time, dedicated individual. Other organizations will have product experience jobs fulfilled as a part of a product manager's role. Regardless of the setup, typically, the person in this position is viewed as an expert in product experience and the customer's expectations for the product.
If you are ready to take your product experiences and your business to the next level, it is time to consider what a PXM can do for you. With an improved ability to manage your product experiences, your organization will find it easier to seize your leads and build your business. Come experience what Lumavate can do for your company.