How Product Experience Management Drives Conversions
A product experience management platform can simplify the customer journey and drive conversions.
Here’s the modern shopping process: instead of walking into a store and making spur-of-the-moment purchases, consumers are more mindful of their spending. 22.8% of buyers research products at least five times before making a purchase, especially for high-priced items.
What does this mean for eCommerce companies? Sellers must make the digital shopping experience as beneficial for consumers as possible, and investing in product experience management (PxM) is one way to achieve this.
But what is PxM? How can sellers utilize this to engage buyers and guide them through the purchase funnel?
What Is Product Experience Management?
PxM is a type of software that manages and optimizes every touchpoint a potential customer experiences before making a purchase. It achieves this by creating a compelling customer journey, offering consistent brand and product stories across all platforms, and optimizing this process for both search and social media.
As a type of software, PxM centralizes all these tactics and data in one location. Most PxM software incorporates machine learning and AI to personalize all customer interactions and automate various aspects of the shopping experience, including delivering customized recommendations.
Benefits of Product Experience Management
Connecting the product experience to data and automation offers many advantages. You’ll gain a deeper understanding of your customers, enabling you to tailor your products, communication, and messaging on a more personal level.
Here are some additional benefits of a product experience management software:
Improves Customer Satisfaction
There are many ways that eCommerce companies use technology to improve customer service, such as using chatbots and CRMs. But product experience management takes this a step further by understanding what your buyers want from your brand.
44% of buyers abandoned a purchase when there wasn’t enough product information. When you utilize technology to gain a deeper understanding of your customers, you can provide more personalized product recommendations and tailor your messaging to address specific needs and pain points.
Omnichannel Advantages
As stated previously, your customers will conduct product research before making a purchase. They do so by searching for items on Google, subscribing to your newsletter, and looking through your social media posts.
As you can see, your customers move through various touchpoints before they’re ready to purchase a product. And since there are numerous platforms they click through, all messaging and targeting must be consistent.
This is where product experience management comes in. Sellers can centralize all marketing and communications in one place, utilizing demographics and transaction data to ensure that product information is consistent and matches their ideal buyer.
Improved Targeting
Product experience management can enhance targeting by identifying key facts about your customers. These include typical demographics (location, gender, age) and how they shop (such as on Google versus Amazon).
Product targeting can also improve the way you write product stories and descriptions, such as highlighting features that address pain points.
Increases Conversions
Did you know that 86% of consumers are willing to pay more for a great customer experience? With all this said, PxM can boost conversions, increase revenue, and improve ROI. You’ll earn more sales and can grow your business, such as by expanding your product line, investing in more technology, or improving existing offerings.
Positive Customer Retention
Customer retention is one of the many goals of product experience management. After a buyer purchases your product and it meets their expectations, they will be more likely to continue supporting your business.
How can you use PxM software to improve customer retention? Continue to utilize this software to personalize all product information and customer interactions, thereby increasing engagement among existing buyers.
When introducing new products, highlight the features and functionalities that your existing customers are most likely to find most beneficial.
Product Experience Management vs Product Information Management
PxM software is often confused with product information management (PIM) systems. But PIM is only one part of PxM
A PIM system keeps product information in one place. These systems include information like product dimensions, size, colors, materials, and more. Sellers can refer to this data when creating product listings, marketing materials, and other content.
PIM systems are also convenient for other staff members and stakeholders, such as project managers, suppliers, and third-party logistics (3PL) companies. They can access this data and manage or update it whenever needed.
PxM optimizes the entire customer journey, encompassing everything from omnichannel marketing to personalization. In addition to product information, PxM systems also include customer data and often integrate with other software, such as CRM systems.
This helps sellers understand how customers interact with their brand and how to communicate more effectively with them.
PxM Options for Sellers
There are numerous PxM systems on the market, but each platform offers different benefits and features tailored to meet the needs of all businesses.
Here are different PxM options and the benefits they offer:
Consensus
Credited as being the first product experience platform, Consensus creates eCommerce journeys with your customers in mind. With Consesus, sellers can build customer experiences and sales funnels.
Consensus has powerful tracking features that enable you to understand how many customers are moving through the sales funnel.
Pattern PxM
Pattern includes data on fulfillment, global expansion, and logistics, as well as the capabilities to help sellers create an omnichannel strategy.
Pattern is powered by patented AI that uses numerous unique data points to attract new customers and boost conversions.
That said, Pattern PxM is a better option if your business is focused on growth and expansion. It integrates with nearly every eCommerce platform, from Amazon to TikTok Shop, to help you better manage and scale your store.
Syndigo
Syndigo offers a myriad of solutions for your PxM needs. These include a PIM, enhanced content, and analytics. Sellers can build the system they need using only the solutions required for their strategy.
Productsup
Productsup has one main goal: to deliver the most engaging product experiences. They have a technology stack that includes supplier onboarding, marketing/advertising, content syndication, data feed management, and omnichannel capabilities, ensuring all customer interactions are positive.
Flaminjoy
If you’re a multi-channel brand, you may want to look beyond PxM solutions. While this is a user-generated content platform, sellers can utilize Flaminjoy as part of their PxM strategy.
Their platform is especially beneficial if you need product content syndication, which is when content and product information align with internal data. Flaminjoy can distribute that content on your social media and website, helping to grow your brand across all channels.
Unbounce
If you need help creating sales-boosting product landing pages, Unbounce is the perfect platform. It features a drag-and-drop editor for creating and customizing your landing pages. Sellers can also access analytics and A/B testing to ensure the custom landing pages are driving conversions.
Since this is a landing page platform, its eCommerce features are limited. As such, this system is best if the marketing side of PxM needs improvement.
Do You Need Help With Product Experience Management?
The shopping process is complex, and sellers must consider the entire customer experience when optimizing their products. Fortunately, brands can utilize a product experience management platform to simplify this process.
While we recommended numerous PxM systems, sellers also have another option: partnering with an eCommerce agency like AMZ Advisers.
We help brands enhance their omnichannel selling efforts by setting up marketing, advertising, sales funnels, and overall sales campaigns. We track essential analytics to ensure we’re driving measurable results for your brand.
Author
Stephanie Jensen has been writing ecommerce content for seven years, and her copy has helped numerous stores rank on Amazon. Follow her on LinkedIn for more insight into freelance writing and creating high-quality content.
The post How Product Experience Management Drives Conversions appeared first on AMZ Advisers.
