Digital Experience Platform DXP Review
The world has shifted, and a digital connection has become just as important as a physical one. Where the lines blur between a tangible and online economy, your competitors are no longer local and domestic; you must position yourself to have a global competitive advantage.
The question becomes, how can you use digital platforms for marketing your products effectively?
We have compiled a comprehensive guide that explores the best Digital Experience Platforms (DXP) and how they can be used to their full potential. We'll start by first defining DXP platforms and DXP technologies while also showcasing the uses of digital platforms and the best use cases you can benefit from.
Join us as we dive into the incredible benefits of digital platforms and how they can create unique digital experiences that propel your growth to new heights.
What Is a Digital Experience Platform?
A digital experience platform is a comprehensive tool that creates, manages, and organizes digital experiences. To understand the functionalities and benefits of a digital experience platform, we must first understand what a digital experience is.
A digital experience is an interaction between a customer, client, or account and an organization through digital technology. Anything your marketing team produces and stores on a website, mobile app, landing page, microsite, email, social media, eCommerce channel, or brand portal can define a digital experience.
A well-crafted digital experience has many benefits, including a higher conversion rate. For example, creating a simple product catalog for your products is enough to check the task off the list. However, creating a beautiful digital product catalog with engaging visuals and a solid call to action will have a higher conversion rate comparatively.
What Does DXP Mean?
Digital experience platforms are valuable pieces of software that serve as tools to enable users to create and manage a broad scope of digital experiences. The DXP solution should be helpful to your customers and intuitive enough for your staff, distributors, channel partners, vendors, and other stakeholders to use it to its full potential.
A DXP allows you to build out the front-end design of the digital experience but will need a separate third-party solution for the back-end. A comprehensive DXP tool such as Lumavate allows you to create an entire array of digital experiences without using any code or needing complicated knowledge of the subject matter and technical expertise.
Most DXPs offer a Content Management System (CMS) within the platform, allowing only content management and supervision. Lumavate provides complete Digital Asset Management (DAM) capabilities, enabling you to create, reuse, and manage your branded assets easily. This includes high-quality images, instructional videos, troubleshooting guides, owner's manuals, spec sheets, packaging instructions, videos, text, and more.
What Is the Importance of DXP?
The primary purpose of a DXP is to enable business users to build and iterate on many different experiences and, by extension, digital assets. Of course, this means that a DXP is primarily under the care of the marketing team. A Digital Experience team, under a Digital Experience manager's supervision, helps coordinate the team's efforts toward creating digital experiences. This does not mean that only the marketing department should be involved in creating beautiful, on-brand, and on-target experiences.
The team should act as a liaison between other departments to fully understand the meaning behind the messaging. For example, the marketing team can create stunning landing pages with built-in text messaging and app integrations. Still, they may need assistance with underlining the specifics of the product.
The Digital Experience Manager may reach out to the design team and schedule a call to review the key selling points that can be translated into the messaging and provided to the sales team to serve their prospects and accounts better.
DXP platforms such as Lumavate also contain Product Information Management (PIM) tools, which allow the review of specific product information that anyone in the firm can access under a single source of truth. This can help marketing pass regulatory approval much quicker by having the compliance team sign off on the information provided within the platform before its use.
What Is an Example of DXP?
There are myriad types of DXPs, and we will explore the complete competitive landscape further in this guide. DXPs have numerous benefits and functionalities that vary significantly between brand and platform. The DXP itself is built around different philosophies and methodologies that mix well with certain types of brands, while there may be a mismatch with other solutions.
Lumavate, for example, is an all-in-one solution that integrates well with many other third-party solutions. Other DXP platforms will usually integrate with a vast host of CMS platforms but do not have the capabilities to seamlessly merge with a digital asset management solution, creating a bottleneck for your digital asset creation for the betterment of your experiences.
An all-in-one solution is enticing as it gives you maximum ability to focus on what you do best, to run the organization to its fullest potential.
What Is the Purpose of DXP?
The primary purpose of a DXP is to create digital experiences, which are interactions between your brand and the customers of your brand. The best digital experience platforms, tools, and solutions bridge the gap between this seamlessly and without the need for technical knowledge. A DXP has certain built-in integrations, such as CMS, DAM, and a Customer Data Platform (CDP).
A CMS allows you to manage already created assets and digital assets. CMS systems often contain "headless" integrations, meaning the front end must be applied internally or through a third-party solution. A DXP connects well with many CMS solutions while providing an easy-to-use front-end builder that doesn't require code and makes it intuitive for your marketing team.
A CMS can frequently fall short of this by only managing content but cannot build out complete digital experiences.
Is CDP Part of DXP?
A CDP collects and manages customer data across the business, while a CMS and DXP focus on creating and managing digital experiences. CDP provides an entirely different scope, and many DXPs have built-in CDP integrations to make it easier to use customer data to create personalized experiences that convert well and target specific pain points and concerns.
Best Digital Experience Platform Examples
Adobe Experience Platform
The Adobe DXP, named the Experience Manager, is a well-known digital platform company in the DXP landscape, providing an extensive suite for crafting digital experiences.
While it offers robust capabilities, Adobe Experience Manager leans towards complex solutions, demanding technical resources and often external consultants for setup, making it an enterprise solution.
Primarily known for content management, Adobe's DXP emphasizes various digital experiences.
Sitecore loves to empower businesses in their digital experience journey, providing them with customization capabilities.
The DXP balances subject matter, technical expertise, and the sell-side team.
Sitecore focuses on content creation and collaboration but may fall short on management and curation.
Liferay is a collaborative solution that emphasizes teamwork between departments and partners and attempts seamless interaction.
Due to a high level of collaboration, there will be moderate technical expertise requirements, which can take some time to iron out the learning curve.
Liferay is open-source; all feedback should be carefully reviewed before taking action, as it could mislead the team.
Acquia has a well-known and robust DXP that integrates into the Drupal CMS and ecosystem.
Users find it compelling, but it has a steeper learning curve for new users.
Lack of pricing clarity and undefined measurement variables for demand sizing
Optimizely, now part of Episerver, optimizes digital interactions through its platform and solutions.
A notable core focus on experimentation and optimization provides dynamic capabilities but sometimes lacks scope.
Navigating the features takes some time before using the DXP and CMS to its full potential.
Lumavate's DXP: Redefining Excellence in Digital Experience
Ease of Implementation: Unlike platforms that demand extensive technical resources, Lumavate's DXP can be seamlessly set up within minutes by anyone in your marketing team.
Comprehensive Functionality: Lumavate encompasses a DXP and an all-encompassing Product Experience Management (PXM) solution. With built-in PIM, Form Builder, text messaging functionality, and over 40 integrations, Lumavate offers exceptional functionality in a single platform.
Beyond the Basics: While traditional DXPs may focus on content management, Lumavate extends its capabilities to include a built-in Product Information Management (PIM) solution, providing a holistic approach to managing product data.
Return on Investment: Lumavate publicly shares its pricing and is 75 percent more cost-effective than other solutions.
What are the Features of DXP?
There are numerous benefits that a digital experience platform provides based on the specific needs of your brand. Each platform and DXP company will have different advantages and features, but here are some standard core functionalities that are shared by most:
1. Intuitive interface: ease of use: A DXP should prioritize simplicity to enable your business to create digital experiences effortlessly. The interface should be intuitive, and your team should be able to refine all digital experiences to match your brand's messaging.
2. Asset management and content management built-in: Digital experience platforms combine the functionality of different solutions to create an effective platform. Most DXPs should offer digital asset management and content management system capabilities.
3. Timely access to analytics, trends, and research: Meaningful information is essential for making data-driven decisions for your organization. Your team should have access to integrated analytical solutions that provide valuable insights on orders, purchasing history, production quotas, version updates, and the success of your campaigns.
4. Personalization and customization: Although the learning curve may require a standardized solution at first, your company will quickly need to customize certain aspects of the platform and the digital experiences themselves. DXPs should let you seamlessly add your brand's personal touch and organizational values to the mix.
Who Has the Best Digital Experience?
Reading through the list, you may have noticed that there may be a few things missing that your organization will need from a comprehensive solution. In addition to these core functionalities, here are some effective capabilities that holistic tools such as Lumavate's platform contain:
Lumavate stands out with its remarkable implementation speed. Users can fully implement the platform in less than a day and seamlessly integrate within your ecosystem without much disruption.
Lumavate goes beyond a standard DXP, offering a comprehensive suite of functionalities, including DXP, DAM, PIM solutions, form builder, text messaging, and an extensive library of over 40 integrations. The Lumavate platform adds functionalities and changes during the biweekly update schedule.
Return On Investment:
Lumavate prides itself on being exceptionally cost-effective, often 75 percent more economical than any other solution. This affordability doesn't compromise on the richness of features provided.
No Technical Resources Required:
As DXP platforms are primarily the marketing team's responsibility, the platform is created without the need for coding languages or knowledge of the subject matter. The marketing team can improve creative assets without needing to cut through the usual red tape.
Purpose-Built for Manufacturing:
Lumavate's platform focuses explicitly on meeting companies' unique requirements and use cases in the manufacturing, medical devices, and consumer packaged goods sectors. It addresses the challenges businesses face in producing and selling physical products. This is why the comprehensive platform focuses on product information, digital assets, and creating experiences around these products.
How Much Does a DXP Cost?
Pricing a DXP solution is extremely difficult and takes a good amount of research to achieve the desired result. The range for these solutions varies greatly and depends on size, scope, function, brand, and many other factors. Companies prefer to book discovery calls with your organization to further understand your needs before giving you a bulky price tag. DXPs can range anywhere from $1,000 to more than $1 million annually.
The cost of a DXP is not just limited to its monetary value. Two other essential factors you should consider are the time it takes to implement and the amount of resources you will need to allocate to training and operating the DXP - internally and externally.
For example, Adobe's Experience Manager is an effective tool. Still, it takes months to implement, requires external consultation, and carries a hefty price tag as it is marketed as a global enterprise solution.
Lumavate takes a different approach and publicly shares its pricing options. We believe in consistency and timely implementation, so our solution comes with an all-encompassing out-of-the-box functionality. It can be implemented entirely within your topology in less than a day.
Digital Experience Platform Gartner Magic Quadrant
Renowned advisory and research firm Gartner conducted a study across the various sectors to provide a visual overview of all players and participants and how they fit into the overall market. The Magic Quadrant has four different sections that determine the direction, maturity, and size of the participants.
The four sections of the Magic Quadrant include:
Starting with the top-right quadrant, the "Leaders" have strong performance in vision and execution. Leaders are trendsetters, and they look to provide comprehensive and cutting-edge solutions.
Challengers comprise the top-left quadrant and are said to 'Challenge" the Leaders for their position. Although they have a remarkable ability to execute vision and plans, they adopt a more conservative view to focus on solving pain points and immediate market demands.
The bottom right section of the quadrant is labeled "Visionaries." Companies within this quadrant have a strategic vision but have great difficulty executing their plans. Although they showcase innovation and a forward-thinking ability, some internal strife may limit their interactions.
"Niche Players" is the last section on the list, in the bottom-left quadrant. Much like Visionaries, Niche Players address specific market needs exceptionally well and have forward-thinking innovation but lack the scale of the other quadrants, whether in product capability or actively targeting only a small section of the market.
Why is this important? The magic quadrant provides a compass when choosing a proper DXP. Depending on the position of the quadrant, you can make well-informed decisions on where a DXP provider stands in terms of both execution and vision so that it can match your market trend, innovative outlook, and risk mitigation strategy.
Lumavate: Your Full-Time Digital Solution
Making your products come to life is no longer an option, and many brands are looking for ways to achieve this effectively and at scale. Digital experiences are rapidly becoming the norm. In an era where customers are well-informed, they must also have a strong attachment and feel towards your brand and its solutions.
Lumavate is often the best tool in your arsenal for digital experiences. Combining key PIM, DAM, and DXP elements into a comprehensive PXM solution makes it one of the market's best and most cost-effective solutions. Lumavate's commitment to price clarity is guaranteed, as we will always list everything you're getting without any surprises.
Well-run organizations need a single source of truth from the best platform, where you can easily integrate the platform into your existing ecosystem. Lumavate allows you to connect to your existing tech stack within minutes, and implementing the software can be done often on the same day.
Text messaging integration, 40 different functionalities, and a customized form builder are just some of the features implemented into the platform biweekly.
Book your free demo of Lumavate today and take the first step towards creating and managing excellent digital experiences for your employees, customers, and partners.
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