
Comparison: PXM vs. PIM vs. DAM
How do the disciplines PXM, PIM and DAM differ? We demonstrate the differences between the various data management systems and show how they relate to each other and for which business models they are most suitable.
Nowadays, the average consumer owns about 7 digital devices (e.g. smartphone, smartwatch, TV, desktop PC, notebook, tablet PC, virtual assistants, etc.), of which they use at least three devices every day. Accordingly, the digital customer journey is also becoming increasingly complex. The number of channels and thus also the number of brand contact points through which companies can interact with their customers and prospects is thus constantly increasing.Â
Depending on the industry and target group, it is important to identify the relevant channels and touchpoints that arise during the information, purchase and service phases:
The selection of relevant touchpoints depends on the overarching corporate goals. Typical goals of customer journey management are:
Market research (e.g. customer surveys) can be used to determine the areas in which improvements are needed.
Before potential customers complete a purchase today, they jump from one touchpoint to the next during their purchase decision process, regardless of device and channel. The number of touchpoints a customer goes through depends on the purchase risk, which in turn is made up of financial, psychological, product-related or social risks.Â
“Across all sectors, consumers (B2C) need 6 touchpoints before making a purchase decision. While cars require an average of just 3.9 relevant touchpoints, the figure for products from the electronics sector is 9.3. A look at individual sectors shows that FMCG products require an average of 4.6 touchpoints, services 5.7 and consumer durables even 6.5.”
Source: Report „5 Jahre WAVEMAKER Momentum“, 2019
The higher the purchase risk, the longer the purchase decision process usually takes and the more touchpoints a potential customer passes through in his customer journey. In the case of complex, expensive products that require explanation, the purchase decision process can take several weeks or even months. In the B2B world, there are often even more contact points in the purchase decision process, as several players or interest groups are involved, especially in strategic purchase decisions (buying center). Companies that understand their customers’ behavior are more likely to be able to ensure homogeneous communication and a 360° view of the customer. But how can companies achieve this?
Customer journey analysis enables companies to evaluate the efficiency of existing brand touchpoints. After reviewing the touchpoints, the sequence and impact of the contact points can be analyzed. It is important to check whether the alignment fits the brand (corporate identity) and the strategic corporate goals. At the same time, the analysis helps to better understand the customer experience:
Touchpoint management helps companies in the B2B and B2C sectors to master the increasing online-offline complexity. Through continuous optimization of the touchpoints, individual company areas become more interconnected and enable a 360° view of the customer.
Customer journey management can be greatly facilitated through the use of product information management. With a PIM system, manufacturers and retailers can effectively manage their product data and their media assets and share it with internal and external stakeholders. As a result, they ensure that customers and prospects are shown the most current and complete content at all relevant touchpoints. Marketing teams are able to provide the right content for the different channels (print, website, online store, marketplaces, B2B portals, social media, etc.) in the right format in the shortest possible time. A PIM system also provides companies with valuable insights into which multimedia content performs best in the customer journey.
Learn about the benefits of our PIM system for your industry and business model in a free, no-obligation online demo and find out how to ensure consistent and compelling corporate and product communication across all relevant channels.
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