PXM – Product Experience Management
Today’s product sales divisions aim at maximizing Customer Experience (that is, the customer’s lived experience when purchasing a product) in order to increase conversion rates. One building block which contributes to what it is like to purchasing products is Product Experience, laying the foundation for a high-quality Customer Experience. This is where PXM comes into play: Product Experience Management is a relatively novel concept, expanding the PIM process by a fourth, core process step — namely, data contextualization. In this process step which is to be situated in between data enrichment and data distribution, the product data is expanded with context-sensitive content. For example, a context may be the customer’s use case or the specific purchasing phase she is currently in. By using individualized product information for specific use cases, for example, you communicate with your customers on a decisively more target-group-oriented level — which may, in the best-case scenario, translate into yet another satisfied customer.
Further details on PXM and why it is indispensable can be found on our page What is PXM