These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
ProductExperienceManagementSpecial EditionBy John Evans,Salvatore Accaputo, andDaniela da SilvaThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
Product Experience Management For Dummies , Special EditionPublished byJohn Wiley & Sons, Inc.111 River StreetHoboken, NJ 07030-5774www.wiley.comCopyright 2019 by John Wiley & Sons, Inc.No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or byany means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permittedunder Sections 107 or 108 of the 1976 United States Copyright Act, without the prior written permission ofthe Publisher. Requests to the Publisher for permission should be addressed to the Permissions Department,John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or onlineat http://www.wiley.com/go/permissions.Trademarks: Wiley, the Wiley logo, For Dummies, the Dummies Man logo, A Reference for the Restof Us!, The Dummies Way, Dummies.com, Making Everything Easier, and related trade dress aretrademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United Statesand other countries, and may not be used without written permission. Akeneo, TESSA, and Productsupand their logos are registered trademarks of Akeneo, TESSA, and Productsup. All other trademarks are theproperty of their respective owners. John Wiley & Sons, Inc., is not associated with any product or vendormentioned in this book.LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: THE PUBLISHER AND THE AUTHOR MAKE NOREPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THECONTENTS OF THIS WORK AND SPECIFICALLY DISCLAIM ALL WARRANTIES, INCLUDING WITHOUTLIMITATION WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CREATEDOR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES CONTAINEDHEREIN MAY NOT BE SUITABLE FOR EVERY SITUATION. THIS WORK IS SOLD WITH THE UNDERSTANDINGTHAT THE PUBLISHER IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR OTHER PROFESSIONALSERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONALPERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FORDAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANIZATION OR WEBSITE IS REFERRED TO INTHIS WORK AS A CITATION AND/OR A POTENTIAL SOURCE OF FURTHER INFORMATION DOES NOT MEANTHAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFORMATION THE ORGANIZATION OR WEBSITEMAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THATINTERNET WEBSITES LISTED IN THIS WORK MAY HAVE CHANGED OR DISAPPEARED BETWEEN WHENTHIS WORK WAS WRITTEN AND WHEN IT IS READ.For general information on our other products and services, or how to create a custom For Dummies bookfor your business or organization, please contact our Business Development Department in the U.S. at877-409-4177, contact [email protected], or visit www.wiley.com/go/custompub. For information aboutlicensing the For Dummies brand for products or services, contact [email protected]: 978-1-119-59716-2 (pbk); ISBN: 978-1-119-59717-9 (ebk)Manufactured in the United States of America10 9 8 7 6 5 4 3 2 1Publisher’s AcknowledgmentsSome of the people who helped bring this book to market include thefollowing:Contributing Author:Stephanie DiamondBusiness DevelopmentRepresentative: Sue BlessingProject Editor:Carrie Burchfield-LeightonProduction Editor:Mohammed Zafar AliAcquisitions Editor: Katie MohrEditorial Manager: Rev MengleThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
Table of ContentsINTRODUCTION. 1About This Book. 1Icons Used in This Book. 2Beyond the Book. 3CHAPTER 1:Navigating the Experience Economy. 5Understanding the Experience Economy. 5Recognizing the Need for Innovation. 7Fulfilling the Need for Agile Product Data. 10Defining PXM. 11CHAPTER 2:Crafting Compelling Product Experiences. 13Creating Value with PXM. 13Developing Buy-In. 15Putting Together a PXM Solution. 16CHAPTER 3:Starting the PXM Journey. 21Collect. 22Standardize. 22Enrich. 22Contextualize. 23Distribute. 23CHAPTER 4:Understanding a Product InformationManagement Solution. 25Why Retailers and Brands Need PIM Now. 26Seeing How PIM Works. 27Looking at Must-Have PIM Features. 28Benefitting from a PIM. 32CHAPTER 5:Discovering a Digital AssetManagement Solution. 35Learning How DAM Works. 35Benefitting from DAM. 37Looking at Must-Have Features. 39Improving Customer Interactions by Using DAM. 40Looking at DAM System Types. 41Choosing Your DAM Solution. 43Table of ContentsiiiThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
CHAPTER 6:Understanding a Product ContentSyndication Solution. 45Learning about PCS Solutions. 45Looking at Must-Have PCS Features. 48Benefitting from a PCS Solution. 54CHAPTER 7:Ten Keys to Successful PXM Practices. 57Collect Product Data from Reliable Sources. 57Supplement Technical Product Data with Usage Data. 58Use High-Quality Images, Video, and Other Digital Assets. 58Research Differences by Market. 58Create a Holistic, Full-Fledged Channel Strategy. 59Leverage PXM Process Automation. 59Foster Cross-Functional Collaboration. 59Track Performance. 59Remember That Context is King!. 60Think of PXM as a Journey. 60ivProduct Experience Management For Dummies, Special EditionThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
IntroductionCustomer experience has become the centerpiece of mostmarketing strategies today. Marketers have begun to realizethat it’s the biggest differentiator a brand or a retailer hasin today’s overcrowded market. And great customer experiencestarts with a compelling product experience. Customers havetheir pick of channels, so standing out among the crowd with relevant product information is imperative.For this reason, Product Experience Management (PXM) tools area necessity. You want to be able to compete on all the shoppingchannels and new marketplaces that arise. The ability to prepareyour product catalog to flow into every channel in the requiredformat is no easy feat. This book was created to address thisproblem.About This BookWelcome to Product Experience Management For Dummies, S pecialEdition. This book covers several topics you won’t easily findelsewhere. It presents PXM as a connection between three typesof capabilities — Product Information Management (PIM), DigitalAsset Management (DAM), and Product Content Syndication(PCS) — that each excel in its respective area to produce the bestpossible PXM solution.You look at»» Navigating the experience economy: In the 21st century,most goods online have become commoditized. You lookat how this situation has evolved. Control has shifted tobuyers — they can explore many options and find the lowestprice. Technology has enabled a variety of new ways to shop,and you need to be ready to accommodate all of them.»» An in-depth definition of PXM: PXM involves more thantechnical data. It also means you need to create content thatdelivers an emotional connection. You discover how to movefrom managing data to crafting and delivering experiences.Introduction1These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
»» Understanding a PIM solution: At the heart of the abilityto manage product information is PIM. PIM solutions areincreasingly more sophisticated, and choosing the rightone is key to developing product experiences that wincustomers.»» Understanding a DAM solution: DAM solutions help youorganize your digital assets in one central location and findany kind of digital asset (for example, image, document,video) you need. It also protects your assets with versioncontrol and allows you to manage roles and permissions.»» Understanding a PCS solution: A PCS solution is key topreparing your data to integrate with all your disparateshopping channels. It helps you manage and structure datafeeds so you can efficiently syndicate product data to majoronline channels, such as Google, Facebook, or Amazon.Icons Used in This BookThroughout this book, you see different icons. Here’s what theymean.This icon provides you with ways to do things faster or more easily.Because PXM is a relatively new concept, we try to point out newideas and how they fit together. We include things we think mighthelp provide a solution to something you’re looking for.This icon points out foundational PXM points that are useful.We use this icon when we want to include some information forthose who want to go a bit deeper into the technical details ofPXM.The Warning icon alerts you to things that can be harmful to youor your company.2Product Experience Management For Dummies, Special EditionThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
Beyond the BookThis book is aimed at helping you learn more about PXM and thecomponents that help you create great product experiences. Someresources that you’ll find helpful that go beyond this book include»» agement-101 : Are you new to the concept of PIM? Ifso, check out this PIM 101 e-book and learn how Akeneoradically simplifies the process of creating, maintaining,and using product descriptions and specifications for onlineand offline product catalogs.»» www.tessa-dam.com/basics : Whether you’re already usinga DAM system, evaluating a purchase, or getting a fresh starton the subject, this summary gives you a comprehensiveoverview of features and helps you understand the businessbenefits that a DAM system brings to your business. By usingbest practices, you gain detailed insight into the processesand the digital asset life cycle. You find more informationhere to get the most out of your system.»» https://productsup.com/blog : Want to learn more aboutfeed-based marketing and PCS? Productsup regularly sharesrelevant news, tips, and insights for the commerce industry.From product data optimization hacks to creating a successful cross-border strategy or how to automate manualprocesses, you can grow your expertise, master PCS, andunlock your revenue-generating potential.Introduction3These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
IN THIS CHAPTER»» Developing an understanding of theexperience economy»» Recognizing trends that create the needfor innovation»» Seeing the need for agile product data»» Defining PXMChapter1Navigating theExperience EconomyThe Internet creates a vast commoditization of goods. Withrelative ease, you can find the product you want at the lowest price and have it delivered quickly. To get a customerto pay attention, you need to create a memorable experience.There must be a reason why customers buy your product overanother.In this chapter, you look at what Product Experience Management (PXM) is and why you need to have the right system in placeto provide a satisfying and emotionally charged experience thatmakes your product compelling to buy.Understanding the Experience EconomyIn 1999, Joseph Pine and James Gilmore wrote a book entitled TheExperience Economy. The context is about how people trade moneyfor time. This concept and the progression of economic valuehelp us understand how we arrived at the place where customer experiences are the centerpiece of business models.CHAPTER 1 Navigating the Experience Economy5These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
Pine and Gilmore say that in today’s economy people differentiatethemselves from their competitors by moving up the economicvalue chain to provide excellent customer experiences. This valuechain concept is shown in Figure 1-1.FIGURE 1-1: The progression of economic value.To help explain this concept a bit more, here is how this valuechain evolved:1.2.3.The value chain started with commodities.The agrarian economy was based on commodities. In acommodities-based economy, people didn’t care about thebrand or the features; they only cared about the price.Next came goods.An industrial economy, which was based on manufacturedgoods, came next. People paid more for a product thatenhanced a commodity by adding some perceived value andadding their brand name to it.The next economy was services.Value was added by packaging goods with services. In thecurrent services economy, goods have become commoditized so that price is now the main difference — think abouthow long-distance telephone service or cable television issold on price.6Product Experience Management For Dummies, Special EditionThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
4.Finally, the experience economy arrived.Goods and services are no longer enough. With everythingbecoming commoditized, it’s time to move to a new level ofeconomic value that’s focused on staging experiences foryour customers. Experiences become a distinct economicoffering. This is where growth will come from and where weneed to innovate.One of the key distinctions in economic value between a serviceand an experience is how time is used. What does this mean to youas a company? To truly differentiate, you need to move beyondoffering “time well saved” as a value proposition. You have tocreate a “time well spent” experience, so customers want tospend time on your websites or in your store. The more time theyspend with you, the more money they may spend.Give careful attention to the idea of time well spent. If you’re abrand or a retailer who has a fascinating in-store experience, youmay be able to charge admission to enter the store or participatein a special event. If you’re an online retailer, look at your customer journey and think about how you can create an emotionalconnection for visitors to your e-commerce site.Recognizing the Need for InnovationIf you read the preceding section, you now know why experiencehas become the currency of the realm for brands and retailers.If you didn’t read that section, take a gander when you get achance. But in this section, we give you the key areas that driveinnovation in commerce.Increasing retail disruptionThe status quo in retail has been disrupted. The increasinglydynamic efforts in retail mean that merchants need to continuallyinnovate to remain ahead of and differentiated from their onlineand offline competitors. Similarly, brands need to ensure thattheir products are represented correctly in new channels, whichbrings new buyer interaction paradigms, such as voice search.CHAPTER 1 Navigating the Experience Economy7These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
A great example of increasing retail disruption is Amazon’s dominance in online sales and its initiatives to move into a variety of channel models, such as Whole Foods brick-and-mortarstores and the increasingly popular Echo device and Alexa voiceassistant.Changing behaviors andcharacteristics of buyersNow that e-commerce has been in place for well over 20 years,a new wave of millennial buyers is coming of age in an erawhere it has always been possible to shop and buy online. In the business-to-business (B2B) sector, the phenomenon is particularlyacute — B2B is generally later to market in offering e-commercesites compared to the business-to-consumer (B2C) sector.Millennials look for Amazon–like customer experiences everywhere and are accustomed to doing significant product researchbefore entering a store or purchasing online. B2B and B2C merchants need to innovate to keep pace with the way buyers want tointeract with and be informed by each channel.Proliferating e-commerce channelsNew channels and formats appear quickly. Buyers rapidly adaptto new technologies and change the way they shop. For example,they use voice assistants, buy from mobile applications, and usesocial media sites like Instagram.Some online retailers are using in-store techniques such aspop up shops, concept stores, and showrooms. Each of thesechannels offers a different way for customers to interact withyour products — and as a result, you’ll need to manage differentproduct experiences for each channel.Each of the trends we discuss in this section has significant implications for how product information is prepared and delivered. The ultimate objective of PXM is to enable marketersand commerce teams to easily and efficiently manage productinformation and deliver it in context using adaptable, flexible,robust, and built-for-purpose tools.8Product Experience Management For Dummies, Special EditionThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
Diversifying channel-specific needsTechnology innovations are developing at a fast pace. The adoption of voice assistant technology is growing and one studyreported that 26 percent of smart speaker users have orderedsomething via voice.These new channels require product information to be made available in different contexts. Even the way people search via voiceversus typing is different. A paragraph-long product descriptionand rich images will work for print and e-commerce sites, buta product description for a voice assistant will need to be muchshorter. Merchants must, therefore, prepare their product datain different contexts for such things as voice-activated shoppingassistants that are becoming increasingly popular.Globalized and cross-border commerceOnline shopping makes it easy for consumers to accessglobal markets. According to Forrester Research, cross-bordere-commerce is set to reach 627 billion in sales by 2022, makingup a grand total of 20 percent of e-commerce as a whole. That’s asubstantial audience.This development requires that brands and online retailers create and execute a seamless international e-commerce strategy.From a product information standpoint, this means your productcatalog needs to»» Be available in the local language.»» Use the appropriate technical information to accommodatedifferent sizes (for example, US versus UK versus Europeanversus Asian shoe and apparel sizing).»» Consider local norms, including culturally-appropriateimagery and regulatory requirements for things likeingredients.Handling cross-border and global commerce not only increasesthe size and complexity of your product catalog but also createsthe need to consider what the best product experience means foreach locale and each channel used in that locale.CHAPTER 1 Navigating the Experience Economy9These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
Growing expectations and need foromnichannel experiencesConsumers don’t care what device or channel they buy from. Theywant to experience a consistent and contextual product experience across all channels. Imagine the confusion that would resultfrom customers finding differing product descriptions or pricing,depending on which channel (print, store, or online) they wereon. While product information should be consistent and accurateacross multiple channels, it does not mean that it needs to be uniform — you need to put product information in context.Complex and fast-growingtechnology ecosystemsNew technologies are constantly popping up. One of those thathas great potential is artificial intelligence (AI). You may alreadysee AI becoming part of your online experience in the form ofrecommendation engines and improved search capabilities. As AIbecomes even more prevalent, people expect brands and retailersto anticipate their needs and give them exactly what they wantwith less time and effort. AI will increasingly be used to providemerchants and brands with product intelligence they can use tohelp craft more compelling product experiences.Other emerging technologies such as virtual reality (VR) and augmented reality (AR) are already being tested in numerousmarkets. It’s not hard to imagine that customers will begin toexpect such technologies to create even more spectacular immersive customer and brand experiences, which will have implications for how product information is delivered. So be prepared forthe next big thing whatever that might be.Fulfilling the Need for Agile Product DataTo supply great product experiences, you need agile product data.Agile product data has these key characteristics:»» Always available: Instead of being locked in proprietaryoperational systems, product data needs to be collected,standardized, enriched, and readily available to yourcommerce platforms.10Product Experience Management For Dummies, Special EditionThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
»» Easily transformable: Product information you’ve collectedand standardized should be able to be easily transformedfor the consuming commerce platform — for example, youre-commerce platform, print system, point-of-sale (POS)system — as well as marketplaces that typically dictateproduct information listing requirements.»» Consistent and high quality: All technical and qualitativeinformation as well as imagery and usability details used todescribe your products should be accurate, comprehensive,and consistent wherever they appear. With poor qualityproduct data, buyers will quickly move on to a competingproduct, or to a merchant who is able to provide moreactionable information.»» Highly connected to a large ecosystem: Different tech-nologies are used to run different types of commerceplatforms. Your product information hub needs to be able toseamlessly connect with relevant platforms as well as relatedtechnologies in use that drive the product experience.»» Always in the right context: Differing channels, locales,standards, and cultural norms all play a factor in makingsure product data is delivered in context, so the productexperience is relevant and compelling to encourageconversions.Defining PXMEvery day, there are thousands of platforms and channels onwhich products are listed, advertised, presented, and sold. Forthis reason, brands and retailers need to populate all shoppertouchpoints with»» Strong, compelling brands and product experiences»» Consistent stories told in a unified way»» Product messages, formats, and presentation styles thatmatch the unique channel they are onThis means that the right product needs to be displayed inthe right format, structure, and style of the respective channel.Context is king!CHAPTER 1 Navigating the Experience Economy11These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
This sounds great, so how can merchants and brands create andmaster this kind of messaging? Use a PXM solution to overcomethe limitations of using spreadsheets and other ill-suited tools.Unfortunately, many organizations use spreadsheets and othermanual methods to manage product data, which they’ve foundto be inefficient, time-consuming, and error-prone. With theneed to focus on crafting an experience, using tools that weren’tdesigned to support delivering product data in context makes thistask difficult to achieve.Product information consists of more than technical data. It’salso about usage and emotional data. By understanding this, youare able to move from managing data to crafting and deliveringexperiences.PXM is an emerging practice and category of business application,and we propose this comprehensive definition: PXM is the subtle science of delivering product information in context, adaptedand tailored by channel and locale to match the buying experienceat every touchpoint. Having the right data and insight into thetype of product experience buyers expect is the foundation for anygreat customer experience.PXM requires different tools and practices to enable retailers andbrands to deliver an exciting product experience. We cover thesoftware you need to create a complete PXM solution in Chapter 2.12Product Experience Management For Dummies, Special EditionThese materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
IN THIS CHAPTER»» Discovering the benefits of greatproduct experiences»» Pursuing buy-in from all executives»» Building a PXM solutionChapter2Crafting CompellingProduct ExperiencesDid you ever expect that product experience would becomeyour greatest competitive advantage? Today, customersexpect an emotionally satisfying product experience whenthey look at your product information. It’s not optional. Theirexpectations are high, and you have to meet them. Your customers expect a great experience at every touchpoint so your brandmessage must be consistent yet differentiated across channels.In this chapter, you look at how your company can benefit fromimplementing a well-thought out Product Experience Management (PXM) solution and how to get buy in from your managers.Creating Value with PXMIn Chapter 1, we give you a comprehensive definition of PXM.Here, in the following sections, you look at the value PXM bringsto you and your customers.CHAPTER 2 Crafting Compelling Product Experiences13These materials are 2019 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.
Increasing conversionsOne of the major benefits of providing a great product experience is that your customers reward you with more purchases.Companies using PXM solutions have reported up to a 400 percentincrease in conversion rates.Reducing returnsBetter product information also results in fewer returns. Whencustomers are shown high-quality product information andimages that accurately depict the product, they’re more likely tobuy and less likely to return the product. Companies using PXMsolutions have reported up to a 40 percent decrease in returns.Enhancing brand loyaltyPXM tools allow you to create an emotional connection with yourbuyers, which makes them more likely to stay loyal to your brand.When customers enjoy the experience, they’re more likely to turninto repeat customers, write positive reviews, and refer theirfriends.Accelerating speed to marketWith tools designed to manage product information, you can getproducts to market faster across all your channels and regionsbecause PXM solutions are purpose-fit to manage and feed allproduct information across all sales channels.A quick time to market is particularly important for brands andmerchants offering seasonal products and sales activities. Moreover, it’s also critical for those who regularly update their productcatalogs in response to new pro
a DAM system, evaluating a purchase, or getting a fresh start on the subject, this summary gives you a comprehensive o