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Product Experience Management is a vital part for your business

Have you ever wondered if the term Product Experience Management exists?

Are your product content and digital assets optimised across the whole shopping journey?

Let’s talk about it! Like many B2B companies, we are aware of the importance of product data, while delivering promises to customers, by bringing engaging product experiences across all channels. In order to be successful, businesses need to know the customer journey and how products will benefit the customer, which will be achieved by mixing product information management and product content management. This mix is called product experience and allows businesses to optimise and personalise with the assistance of machine learning (ML) and artificial intelligence (AI). Here’s why it’s important:

Customer loyalties have changed

There has been a shift from what is appealing to customers to what creates an emotional experience. Businesses have realised that customers are pickier because they can browse and scroll for hours and buy nothing in the end. Customers like to analyse the quality and the worth of each product according to their standards. If they buy something instantly, it is easier to recall and improve brand perception. If not they have probably lost the customer. According to Accenture, 42% of consumers abandon a brand due to frustration and 20% do that for good. Competition is fierce due to the plethora of similar products. One minor mistake during the customer journey and it might cost you a buyer.

Personalisation

Without a deep knowledge of consumer behavior and their buying journey, it is impossible to respond to unpredictable needs in real time. Customers want relevant and valuable information that creates engagement and tailored experience. Marketers are deploying contextual technologies to understand the desires and interests of potential customers so as to utilise that information to grab their attention. A good example can be a pair of shoes which is visually displayed to a store, it can attract a potential customer and create the need to buy it. This can be communicated by the App of the brand.

Usage of AI and ML

A PIM system assists an eCommerce platform in adding data related to the products that your brand sells. Artificial intelligence tools can contribute with more product information which will automatically increase the engagement and the site searches from customers. With AI, the smart search goes a step forward, and by using the data input, it brings to the customer relevant and specific products. Thus, it leads to building long-term relationships with your customers.

With machine learning, companies can acquire knowledge about their customer segment. Thus, it can forecast buying scenarios which will change as soon as new data is received.

All in all, product experience is the company’s ability to respond efficiently to the challenge of customers’ needs. Personalised engines are critical to delivering product content. Therefore, product experience will strengthen trust and boost purchases enabling businesses to grow quicker in the market.