Since the internet became accessible on such a grand scale, the shopping and selling experience is now much more complicated. Now, selling spans various channels, devices, locations, and languages.
These days, a positive product experience doesn’t just include the actual product and the direct selling service. Instead, it also touches on how it’s discovered, what information is available, and how the customer’s order is delivered.
As a result, product experience is now an area of great interest to businesses. So, naturally, there’s product experience management software and enterprise digital asset management solution on the market that can help improve your consumer experience strategies.
So, if that’s something you’re considering – you’re in the right place! Below we’ve listed seven things you need to know before buying the right solution for your enterprise.
Let’s dive in!
1. PXM (Product Experience Management) Is Increasingly Important
The stats speak for themselves:
Within three years of investing in customer experience, companies earning over $1 billion (a year) can expect to increase this by $700 million.
That’s a lot of growth!
And the effect is even more spectacular for SaaS companies. Here you can expect a revenue increase of $1 billion!
Why is this the case?
Well, excellent customer experience usually prompts customers to spend more. In fact, as many as 86% of buyers claim this to be true!
This impacts on-the-spot buying as well. Nearly half of shoppers make impulse purchases after receiving a personalized customer experience.
These stats point to a straightforward takeaway: PXM is ever-growing in importance. As such, brands need to invest in this area to remain relevant in the ever-shifting market.
2. PXM Software Can Help Manage Multi-Channel Selling
Today, companies interact with their audience across tons of different channels. These include live chat, the phone, social media, and e-mail.
As a result, customers now expect multi-channel communication for bigger companies. Not only that, but they also want communications across these channels to remain consistent.
PXM software combines all communication channels into one. Thereby making it possible to track conversations across multiple platforms, flag issues, get other team members involved, and uphold the quality of assistance.
Omni-channel is the way to go. In fact, PWC says consumers demanding an omnichannel experience has jumped from 20% to 80%. So, if you’re not already offering shoppers this – now is the time to do so!
3. Product Information Management Streamlines Your Product Data
PIM systems are part of product experience management. They allow you to record raw product data containing crucial information about everything you sell. They’re used to collect, store, and standardize info and act as a central database.
This comes in handy for creating product catalogs and distributing information to sales and e-commerce channels. Having one place to manage all the information allows providers to increase their product data quality, accuracy, and consistency.
4. The Mobile Experience Is a Greater Priority
Mobile customer service is also expected to become an even higher priority as more and more users look to mobile devices to shop, research, and engage with brands.
A bad mobile experience can do a lot of damage to a brand as they will appear behind the times. It is still common for customer support via mobile to be subpar.
Businesses can thrive by investing in improving this experience and offering appropriate channels to allow mobile users to contact them and view all their information quickly.
5. Self-Service Is More Popular Than Ever
As the next generation has grown up with continually evolving technology, they are fit to research and apply fixes to the product themselves.
Customers in 2020 will appreciate the opportunity to answer their own questions and receive streamlined support through self-service options. In fact, as many as 67% of customers prefer self-service over speaking to a company representative.
PXM software can help a business set up responses to commonly asked questions, provide automated chat-bots, and offer extensive online support documentation.
6. Negative Product Experiences Spread to Other Customers
Customers like to enjoy a positive product experience with several other people. However, 13% of unhappy customers are likely to share the experience with 15 or more and could severely impact your online reputation.
Take the brand crisis United Airlines experienced back in 2017 – the company was devalued by $1.4 billion overnight! Why? Because a passenger posted about their negative customer experience on social media and it went viral!
As you can see, lousy customer experience can have an immediate impact on the rest of your audience and drastically lower your leads.
The challenge lies in getting your customers to inform you when they are unhappy, as only a few of them will complain. Use customer surveys and experience ratings to encourage your audience to rate your service.
7. Using the Right Tools is Essential
In a highly saturated market, customer experience is what elevates a business over their competition. So, if a company wants to remain relevant, it’s imperative they make the most out of their product experience by using the right tools.
Between product information management software, a CRM (customer relationship management) solution, and software that streamlines your omnichannel communications, businesses can improve their experience drastically.
Use Product Experience Management Software to Stay in the Game
As you can see, using the appropriate tools to gain an edge by following the latest customer experience trends is essential. This is where product experience management software comes into its own. Did you enjoy this article? We hope so – if you did, please feel free to subscribe to our blog. This is the simplest way to get your hands on similar content. Enjoy!