What Is Your Experience With the Product?

Customer-focused companies talk about the customer experience. They analyze data on engagement. Customer service becomes a key performance indicator (KPI). A consumer’s product experience is a critical component of the customer experience.

What Is a Product Experience?

Customer experiences begin the first time they encounter a company and encompass every aspect of their interaction with the brand. Product experiences are part of the customer journey, beginning with the first product encounter and continuing through ownership. For many manufacturers, a positive product experience is what fosters customer loyalty and strengthens a manufacturer's brand and reputation. It ultimately contributes to business’ success. It involves a comprehensive approach that encompasses not only the physical product but also the information, support, and overall interaction customers have with the manufacturer and their products.

Manufacturers spend millions on product design. They may conduct focus groups or solicit customer feedback. They expend fewer resources on digital assets that can enhance the product experience. Product information is cobbled together from engineering specifications. Its accuracy depends on the source material.

For example, a new model of an existing product is released, and the product catalog is updated. According to engineering, the only change to end-user instructions is adding the new model number. As new model sales increase, so do the calls to customer service. Analyzing the service calls revealed that most calls related to assembly instructions for the new model.

Since the majority of calls pertained to assembly instructions, product information teams revisited the end-user documentation and refined the information for a better product experience. Using analytics provided another way to give the product experience meaning.

What Is the Value of Product Experience?

How well a product meets expectations influences the customer experience. If information is lacking, buyers can become frustrated. Failing to deliver a quality experience can hurt a business's bottom line. Bad experiences can lower revenue by as much as 6.7 percent. They often result in customer churn. When asked, 50 percent of consumers said they would reduce or stop spending with a company after one bad experience.

Retaining customers is just one of the benefits of a good product experience. Positive product experiences can:

• Increase Customer Loyalty. Consumers are loyal to brands that meet their expectations. Accurate and accessible product information helps define how products can meet expectations.

• Foster Product Advocates. Loyal customers often become product advocates. They share their experiences and encourage others to purchase products.

• Higher Customer Lifetime Value (CLV). Strong product experiences strengthen customer relationships and increase the CLV of loyal customers.

• Reduce Support Costs. Providing information as part of the product experience can reduce the after-purchase costs for customer care.

Creating an exceptional product experience requires a product experience strategy and strong product experience management. A comprehensive strategy considers the end user's perception of the product and its functions. It also tries to influence emotional and psychological responses to the products.

What Is Your Experience With the Product?

Product experience strategies should include more than just product interactions. They should include methods for introducing new products and delivering crucial information. Strategies can outline how to ensure accurate and accessible information. The following product experience examples illustrate how product experience tools can be used.

Product Catalogs

Printing product catalogs can be expensive, especially if they must be frequently revised. Having an online catalog eliminates the need for costly printing. Online catalogs allow potential buyers to look at product descriptions before purchasing. Using Product Information Management software allows companies to consolidate the information to create a single source of truth. Updating pricing occurs in a single location and is replicated throughout the system.

For manufacturers of complex or specialized equipment, the purchasing cycle may require in-person or offline consultation. Online product information is essential as buyers are looking for features and functions before initiating a discussion. With an online catalog, product data can be easily updated to ensure potential buyers receive the most current information.

Websites

Whether or not your website includes an online store, the information should be up-to-date. Product descriptions are not one-and-done documents. Products change over their lifecycle. Options may be added or removed. Different replacement parts may be needed to compensate for supply chain disruptions.

Unfortunately, many companies forget about those initial documents. Customers looking at your website see old data that may no longer be accurate. When they decide to purchase, they discover that the product catalog has different information. Confusion results.

Many buyers will move to a competitor, while others may attempt to get clarification.

Suppose the discrepancy is in dimensions. The website says the item is 18 inches, but the product catalog indicates 24 inches. The buyers initiate an online conversation with an automated chatbot, asking if the item is 18 or 24 inches. The chatbot responds with 18 inches because its database has not been updated.

When customers receive the product, it's 24 inches. Their options are to send it back, contact customer service, or keep it. No matter what option they choose, they are not pleased with the experience because the product did not meet their expectations. Centralizing product information into a single source of truth could have eliminated the problem.

Trade Shows

Companies often use trade shows as a platform for introducing new products. They become the entry point for product experiences. However, they can be chaotic, making spending quality time with each visitor to your booth difficult. Adding QR codes to product literature can reduce the friction that occurs during a trade show.

Trade show attendees can scan a QR code directing them to a site containing detailed product information. The site could include videos that illustrate how to use the product or case studies. Not only do QR codes provide ready access to product information, but they also reduce the amount of paper that attendees have to carry home.

What Is the Difference Between Product Experience and Customer Experience?

Customer experience refers to the way a customer feels when interacting with a company. It begins when customers first learn of a brand until they cease being customers. Product experience is an important part of customer experience. It encompasses how a customer perceives a product from introduction through purchase.

Product experience and customer experience difference is one of scope. Product experience is focused on how the customer engages with the product, while customer experience is concerned with how the customer feels about the company. When customers have a poor product experience, it's impossible for them to have an exceptional customer experience.

Companies that want to deliver exceptional customer experiences need a product experience strategy that ensures accurate and accessible information. They need tools that help create a frictionless experience. Lumavate's product information platform makes centralizing digital assets simple. Schedule a demo today to see how our solution can improve your customer's product experience.