<img src="https://secure.leadforensics.com/133892.png" alt="" style="display:none;">

In a recent study published by Forrester it was reported that 75% of business leaders believe improving the Customer Experience is their #1 strategic priority. The unfortunate reality however is that none of the brands featured were ranked as Excellent in the survey of almost 13,500 consumers.

The study, which covered 203 of the largest brands across a range of industries in the UK, France and Germany, asked people to rank customer experience somewhere between ‘Very Poor’ at one extreme to ‘Excellent’ at the other. Rather surprisingly it found the vast majority (87% in the UK and 84% in Germany) were ranked no better than merely ‘OK’ or ‘Poor’. In an era where customer obsession is reportedly the best strategy for winning and retaining customers, only 12% of the UK firms and 14% of the German firms received a ‘Good’ score, with every single French brand being judged as no better than simply ‘OK’.

So who’s getting it right?

It seems when it comes to Customer Experience the firms getting it right apparently are those in the Financial Services sector, from banking and credit card firms to insurance companies. Elsewhere in the survey, the Digital-only retailers fared better than their store operating rivals, proving I suppose that there is an inherent advantage and improved perception of customer experience when consumers are able to shop anywhere, anytime, and importantly be able to get enough information at that crucial decision point to be happy to complete the transaction.

This is what Google previously referred to as the Zero Moment of Truth (ZMOT), and when consumers pass on their good customer experiences by word of mouth, online reviews or via social media, then that recommendation becomes the next person’s ZMOT under Google’s new mental model of marketing. So these days, the impact of delivering excellent customer experience is likely to have an exponential impact on sales growth.


And what can the rest of us do?

The good news then for everyone else is that there is significant room for improvement, but firms have to first of all realise they have a problem and then set about preparing a clear customer-focused plan that is communicated to and acted upon by the whole organisation. It’s this need to improve customer experience that makes PIM ever more valuable to organisations in almost every industry sector you can think of.

What PIM does brilliantly well is it helps you eradicate most of the usual content spaghetti and duplicated effort from serving a vast range of products to ever increasingly diverse channels and markets, and instead lets you focus on the much more important activity of Content Enrichment, through better and more informative product descriptions and a greater range of supporting digital assets, such as imagery, videos, product reviews and technical specifications, etc.; anything basically that gets your customer to that ZMOT point quickly and easily (without them having to go to a competitor’s site), thus enabling them to complete their transaction.

And if we needed more convincing?

For those that remain unconvinced, there is a whole host of research available that points to the performance differences of companies operating with or without a PIM solution in place. Here, for instance, I’ve drawn on some data collated earlier this year by R3 Consulting Partners which illustrates the impact of not having a PIM

Without a PIM: Companies have estimated data error rates between 15-30%

With a PIM: Companies have experienced…

  • Reduced time-to-market by up to 400%
  • Increases in sales from 15% to more than 50%
  • Up to 23% less product returns
  • Up to 27% less customer enquiries

In short, detailed product content is a clear differentiator when it comes to Customer Experience, and it’s the PIM solutions of today that are the enablers of the high-quality, consistent product information demanded by consumers at every stage of the buying process.

Simply put, PIM is a game-changer. Want to learn more? Download our guide below.

Guide: Nine Key Recommendations for succeeding with PIM

Discuss this post

Recommended posts

In this blog post I describe how to get your item names in the language connected to the user when using custom lists in Infor M3.
If you are running Infor OS/H5 you have the possibility to create really nice homepages for your users. The homepages are the starting points for all roles, and one of the widgets you probably want to have on your homepage is the menu-widget. On the menu widget you can add links to M3 programs for example, but by using bookmarks you can make the links smart, and let them open the programs with predefined selections and searches.
In this blog post I'm describing how to create bookmarks in M3. Since we are moving towards Infor OS and H5, we need to handle that there are some differences in how you manage bookmarks in the different user interfaces for M3.
In Infor M3 13.4 there is a new possibility, you can build your own list program. This blog post will show you how to do that.
I have talked about personalizations many, many times – and I am still convinced that there is a lot left to do in this area for most M3 users. Recently we have done some M3 installations for new customers, and in that kind of projects the need for a smooth navigation in M3 becomes very clear. It is not easy to run M3 the old-fashioned way.
right-arrow share search phone phone-filled menu filter envelope envelope-filled close checkmark caret-down arrow-up arrow-right arrow-left arrow-down