What Is PXM Platform?
by Averi Easley | Last Updated: Aug 16, 2023
by Averi Easley | Last Updated: Aug 16, 2023
Providing accurate and easily accessible product information online is more important than ever before. The reason for this is that consumers, retailers, dealers, etc. will use this information to help inform their purchasing decisions.
A great way to ensure you have all of this information available is by using a PXM.
Another way to think of it is that product experience management (PXM) involves delivering a compelling and accurate product experience to the end user. This means that in all product experiences you have created, the product-related content needs to be accurate and relevant to the applicable use case.
For example, a product experience that showcases all of your product offerings such as a product catalog, will provide vastly different information than a digital product experience aimed at educating a buyer in-aisle on which product to purchase.
The product experience should take into account the following:
Why the information is being accessed
Who is accessing the information
What their goals are at the moment they are accessing the information
How they will be accessing the information
How you can provide a delightful experience
With all of this in mind, manufacturers need to think about product experience management as an extension of customer experience. The reason for this is that a majority of the interactions that customers have with a manufacturing brand are product-related.
The goal should be to provide every customer with a personalized product experience throughout their entire customer journey.
Product experiences can provide numerous benefits to those who are accessing the information. Some of these benefits include providing your customers with contextual product experiences based on where they are in the customer journey. By providing your customers with these types of experiences you can take the overall customer experience to the next level. These days the more personalization you can provide to your customers, the better overall experience they’ll have.
Another benefit to using a product experience is increased sales by accelerating revenue growth with increased conversion, recommending relevant products, and promoting parts and accessories.
There are numerous use cases of product experiences out there and each platform will provide functionality to create these. Here are a few examples:
Product Catalogs - Create product catalogs that showcase all of the products your company offers.
QR codes on Products - This will allow you to easily share product information, such as product manuals, parts, etc.
Trade Show Booth - Provide an interactive element at your trade show booth by including a product experience that provides more information about your featured products.
Product Registration - Allow your customers to easily register their products and have this information go into your CRM.
Maintenance Tracking - Allow your customers to track their usage of a specific product and provide recommendations on when maintenance should be performed.
Product Recommendations - Help your customers find the best product for them by providing an interactive quiz.
These days consumers are on their mobile devices more than ever before and they use these devices to find relevant product information. With this in mind, it is vital that the majority of the product experiences that your business creates should be digital.
This means that your business will need a software solution that allows you to easily create product-related digital experiences that automatically pull data from your PIM, DAM, and CMS. Using a PXM platform that automatically pulls data in from these applicable sources will allow you to spend less time managing your product data and creating product experiences. This means faster speed to market!
Let’s define the various acronyms we mentioned above:
PIM - This stands for product information management. A PIM solution will allow you to manage all of your product data in one place.
CMS - According to HubSpot, CMS stands for a content management system and “is a software application that allows users to build and manage a website without having to code it from scratch, or know how to code at all.”
Each one of these items is beneficial and, on its own, can provide numerous benefits to your business.
There are numerous PXM software platforms that are on the market today. A few of the most common ones are:
Salsify PXM - Salsify is a PXM that will allow you to manage all of your product content in one central location, and also create product experiences.
Akeneo PXM - Akeneo is a platform that allows you to store all of your product data and create product catalogs.
Another solution that is available is Lumavate. Lumavate is both a Digital Experience Platform (DXP) and a Product Experience Management (PXM) platform. Within Lumavate’s platform, there is functionality that includes a PIM, CMS, and DAM. This means that all of your product data, images, and text can be stored on their platform. Another benefit of Lumavate is that we allow you to integrate third-party PIM, CMS, or DAM solutions to create digital product experiences.
Ready to get started? Schedule a demo with Lumavate today and see how easy we can make creating digital product experiences for your brand can be with our platform.