13 March 2015

From PIM to PXM – Content – Context - Conversion

Working in today’s digital era, it is central to focus on the customer experience, and to place the customers at the center of your business. There is a lot of talk about omni-channel, multi-channel or cross-channel, but all these different names come from skilled spin doctors that just display a software vendor’s perspective. If we just go to ourselves as consumers, we do not think in terms of channels - we want the full story on the products, regardless of where we consume them, to be able to make an informed choice (or at least that is what think we do). If you have read the fantastic book "Thinking, Fast and Slow" by Daniel Kahneman, you know that we have two systems that operate how we make choices. It is System 1 that takes most of our decisions - based on feelings and not based on rationality - which is why the story and the experience of the products affects us when making a purchase decision. We all know that this consumer journey is not linear by any means. We browse for information, and expect to find good, solid product offerings and brand experience when we meet a brand in different contexts. This applies both to our personal life as to our professional life, and gives brands and retailers a whole new challenge: to have all these stories i.e content ready for all customer touch points, wherever and whenever the customers expect it. We at inRiver hear different versions of this every time we talk with our customers.

How do you then reach to that point of efficiency for your Product Experience Management (PXM)? What we try to do with the PXM concept is to marry three different domains - PIM, DAM and MRM. Bringing the best from each of these domains into our platform, and focusing on the following three aspects is a good start:
  • Content – Facilitate for others to supply quality content, and make sure you have quality content on all your products to enable your products to tell a story
  • Context - Create the right stories for the right touch points, making sure that you are attracting, converting, and retaining your customers no matter where you meet them (store, digital, magazine etc).
  • Conversion – Take control of how your products and assortments are performing in the different customer touch points, showing clearly if you really are delivering that product experience, or if you should refine your content further.

By working with your products and focusing on these three aspects, you will make sure all your products are telling a story in all your customer touch points. Also, when working consistently with your product stories, you will find that this boosts the effect of other marketing technologies. Securing that every product that is online has the correct story to tell, and that the product is segmented with the right facets to make sure it shows up in the right contexts gives an exponential effect.

So make sure all your products are telling a story….

-- Jimmy Ekbäck, CTO --

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