What You Must Know About Digital Experience Platforms
Experience is the holy grail that determines a customer’s engagement with a brand. All brands are focused on improving the experience for their customers at every stage of the business from marketing to sales and finally, customer support.
The Covid-19 pandemic forced brands to rework their digital strategy and it is well summarized in this report by McKinsey. Digital is no longer one of the tough points but THE TOUCH POINT for businesses. Brands are increasingly investing in building digital experience platforms (DXPs) and the DXP market is expected to become $13.9 billion by the year 2024.
What Are Digital Experience Platforms?
DXPs are defined as an integrated set of technologies that are aimed at creating, maintaining, and optimizing the digital experience for customers. The idea behind DXPs is to provide customers with an engaging and integrated experience across different channels.
Brands connect customers to their employees, partners, suppliers, and other stakeholders in the business cycle to improve satisfaction and garner loyalty. Building DXPs starts with defining experience and building the technologies and capabilities that help you meet the expectations of your customers.
Why Are Digital Experience Platforms (DXPs) Becoming More Popular?
Digital experience platforms help in creating coherent customer experiences and earning their loyalty. Brands across industries deploy them for several reasons such as:
1. Maintain cohesive information channels…
Brands target their customers across different channels. When these individual channels work in silos, they tend to create information gaps. DXPs let different teams in your organization collaborate while also engaging with your customers. This breaks the traditional silos of communication and creates cohesive information channels.
2. Customer aspirations have changed…
Technology, particularly the internet has been shaping our lives and this has led to changing customer aspirations. Customers look for more than your products and contact details when they are on your website or social media handles. DXPs help meet these aspirations at every stage of the customer’s journey.
3. Faster and more interactive engagement…
Mobile devices and social media are ensuring faster engagement between brands and their customers. DXPs leverage the true power of immediacy and create new opportunities for brands to interact with their customers. This engagement helps improve customer satisfaction and build brand reputation.
4. Promotes streamlining and automation…
Brands use forms to generate leads and conduct surveys. Manual form processing is a tedious exercise and is best avoided. DXPs help in streaming the process with form automation. Right from the stage of form creation to authentication and validation, they automate the workflow improving business productivity.
5. Remote-work ready…
The Covid-19 pandemic has changed the way people work and remote working is rapidly becoming a norm for the future. Cloud-based DXPs offer brands the ideal platform that can be managed by remote teams. They can collaborate seamlessly with access control features and remove live monitoring.
Advantages of a DXP
As we have already stated, digital experience platforms help brands deliver a more personalized experience to their customers. In addition, they let your brand meet the expectations of your customers in a technology-driven world. Let us look at some of the distinct advantages of having a DXP over traditional digital platforms:
1. Delivery Across Touchpoints
Customers engage with your brand across different touchpoints—web, mobile, kiosks, voice assistants, chatbots, and your support team. As these touchpoints continue to grow, DXPs create the synergy between multiple touchpoints and deliver consistent experiences.
2. Flexible Architecture
Unlike other web technologies that require the back-end and front-end teams to work in tandem, DXPs let them work independently. This ensures faster deployment of services across touchpoints, quicker redressal of complaints, and comprehensive building of your technology stack.
3. Secure Information
DXPs enable brands to operate highly secure websites. Unlike open-source platforms, digital experience platforms are built on robust security principles. Vulnerabilities across platforms and technologies can be monitored and tested centrally in these platforms. This makes them ideal for businesses that depend on the security of their data and need to offer secure access to their content.
4. Business Integration
Success for any brand is dependent on the integration of their marketing, sales, and customer support team. When there is synergy between these teams, businesses prosper, and any loose ends would result in poor ratings and dissatisfaction. Digital Experience Platforms integrate different business processes and help your brand stand ahead of the competition.
5. AI-Driven Reporting
The more your brand knows about its customers, the more likely you are to deliver increased customer satisfaction and drive more sales. DXPs are AI-driven and they provide decision-makers in your organization with actionable insights on your customer by analyzing data from different touchpoints. On the customers’ side, they help them find the relevant information that they are looking for and prevent getting lost under tons of content.
5 Ways How DXPs Address Today's Customer
So far, we have seen the importance of digital experience platforms and the reasons behind their popularity. However, the real reason behind their popularity is how they address the needs of customers. Let us look at five ways how DXPs address today’s customers:
1. Customer-Friendly Content
Content remains the ‘King’ in digital experience platforms, taking content marketing to the next level. Connect all your internal operating systems to deliver customer-friendly content. Irrespective of the touchpoint the customer uses to engage with your brand, you can offer the information they are looking for.
2. Uniformity of Content
Imagine a scenario where your FB page announces a $20 discount on your latest designer wear but your Instagram handle carries the old price. With DXPs, you can avoid such anomalies as it ensures uniformity of content across channels.
3. Customer Insights
We have already discussed how DXPs offer customer insights. It is not just important for brands but also for customers. Thus, it ensures that you are reading and hearing customers’ changing aspirations and also working upon their expectations.
4. Personalized Solutions
Today’s customers like being pampered. They want brands to offer them tailored products and services that address their pain points. DXPs ensure that; thanks to better insights on the customer. Regardless of the channel the customer uses to engage with your brand, you can capture their desires. Therefore, you can deliver personalized solutions.
5. Fast Time to Market
Time-to-market is one of the most important elements driving success for brands as well as customers. In the fast-changing world of technology and products, customers want to move on to the latest products and technologies and not fall behind in the race.
Customers are aspirational, and they are always looking for better experiences from brands. If you are looking to deliver the best digital experience to your customers, it is time to embrace DXPs.
In today’s world, DXPs are becoming the centerpiece for customer experience and earning the loyalty of customers. By investing in a digital experience platform, your brand shall bridge the gap between customer experience and other elements of your business process. From service to sales and marketing to commerce tools, DXPs ensure happier customers and stronger brand loyalty.
If you wish to leverage digital experience platforms and get your business ready for the future, Growth Natives can help. Let us analyze all your digital assets and review the application landscape thoroughly. We have an experienced team of digital marketers who can take your business to the next level. To discuss the details of your project, write to us at email@example.com or visit our website.