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PRODUCT EXPERIENCE

Why is Product Experience Management crucial for your business?

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In today’s time where the business landscape is continuously expanding, building a product isn’t as simple as it seems. Since digital technology has given more power into the shoppers’ hands, delivering exceptional CX to delight customers matters more than ever. While brands are focused on providing their customers with compelling experiences, they often ignore the most critical component – Product Experience Management.

What is Product Experience Management?

A critical process of shaping a brand’s identity, Product Experience Management (PXM) is a method of delivering great product content (which is engaging, relevant as well as contextual) to the right audience, in the right place, at the right time. Basically, it’s a concept responsible for how a user experiences a product visually and forms an informational perspective about it. Here are the 3 components which lay the foundation of Product Experience Management:

  • Content: Gaining access to great content through different sources of your own or your suppliers;
  • Context: Promoting compelling product stories at the right customer touchpoints across various channels and devices;
  • Conversion: Developing a refinement loop that helps you glean insights into the performance of your products and how to improve your content.

Why Product Experience Management matters?

Providing customers with the best user experience possible is one of the key differentiators for ensuring business success. As customers prefer niche products that are relevant to them, Product Experience Management (PXM) drives personalized customer experience by establishing a seamless connection between product data and customers. By empowering you with detailed insights about your customers as well as their purchase journey, it helps you offer them all the relevant information about a product (that matches their requirements) easily. Thus, PXM plays a pivotal role in elevating the customer experience, driving sales, and building loyalty. 

A global brand that relies on PXM for growing its market share is Coca Cola. Being one of the most loved & powerful brands in the world, Coke holds a brand value of approximately 84 billion US dollars, ranking among the list of top ten brands worldwide. They don’t sell Coke as a product, rather position it as a center of positive experiences during its advertising.

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Why is Product Experience Management crucial for your business 04

Feedback is key

To drive customer-centricity, it’s imperative to understand what customers need and how they feel about your product. Collecting feedback from users is crucial as it will help you address their concerns and requirements (Don’t worry about hearing complaints). While gathering feedback should be an ongoing process, taking action on the valuable insights makes all the difference. Voxco offers omnichannel survey solutions that help you solicit user feedback for driving product evolution.

Analytics is essential

To gain a holistic view of how your products are being used, you don’t need to follow anecdotal observations or rely on “gut instincts” anymore. Leverage analytics to seamlessly collect, aggregate, and analyze your user behavior. By identifying causation, it will be easier to understand which features of your product help to boost frequency/session time. Likewise, which features are responsible for abandonment or cancellation? 

Prioritize it wisely

When it comes to product development, prioritization plays a key role in determining what to create and when to create. In product experience management, both feedback and analytics are responsible for driving prioritization. As the needs of your users might not resonate directly with your company’s strategic goals/KPIs, you cannot prioritize or roadmap on the basis of your company’s needs. After all, the end goal is to keep your customers satisfied with the product experience.

Don’t forget to engage

Building a product can be tricky but getting users to come back is where the real deal comes. In this case, engagement strategies could be of great help. At the time of onboarding, let the users know how your product works and lead them through workflows with effective guides & messages. When adding new functionality, inform users about its benefits and ways of accessing it. Leverage usage-driven emails to engage inactive users with your product.

Investing in Product Experience Management today will reap you benefits in the future. Get in touch with Voxco to uncover user insights for building outstanding products that your customers love.

Voxco is trusted by Top 50 Market Research firms, Global Brands & Universities in 40 countries. Voxco offers full omnichannel capability including CATI, Predictive Dialler, Online surveys, offline CAPI, and Panel Management.
Sahaj Sharma

Sahaj Sharma

Sahaj Sharma is a content marketer at Voxco. Owning a bachelor’s degree in computer science engineering, he loves exploring digital industry trends and creating content to help businesses shape their market presence. Apart from content creation, the other three things that vie his mind share are fashion, food, and travel.

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Great Research
Fast Insights
Best-in-class ROI

Voxco’s platform helps you gather omnichannel feedback, measure sentiment, uncover insights and act on them.

Join 500 + global clients across 40+ countries