What is a Digital Experience Platform (DXP)?

Have you ever purchased something from a renowned brand? If yes, you must’ve witnessed the number of efforts they put in to provide you with the best customer experience. Right? Well, the same thing goes in the digital space as well. All business owners want to elevate their customer experience in the best way possible. And guess what? Customers are really in need of it.

Customers are aware that time is money in today’s fast-paced competitive world. That’s why they seek relevancy, sense, and meaning in everything. Let’s take an example of a hoodie that you’ve just purchased via an ad you saw over Facebook. How would you feel if you got to see the same ad over and over again? You would surely question the competency of the artificial intelligence team of Facebook. It would hamper some percentage of their digital reputation in your mind which they surely can’t afford. And that’s where the use of the Digital experience Platform comes into the picture.

There is a pool of numerous digital marketing challenges present in the world that we must solve. Solving these separately and aligning them firmly with the problem-solving requirements of the customers has been the biggest challenge for the companies. A digital experience platform has been designed to cater to these new-age challenges of the modern market.

What exactly is a Digital Experience Platform (DXP)?

Well, this is the tricky part. If you display this question on the screen in a class of 500 people, we’re sure you will get at least 50 different definitions. So, let’s first try to understand what exactly this is.

A DXP is a collection of digital products that work collectively to provide the best possible digital experience to the customers. These products help eliminate the digital loopholes that might decrease its reputation and eventually hamper its profit margins. It also provides a common platform for business owners to create, manage and deliver these experiences on all existing digital platforms.

Brand owners were always keen to know more and more about their customers. But gone were the days when customers had the time to fill out those Google forms that gave free insights to these brands. With the help of artificial intelligence and a reliable DXP, these organizations can easily understand the need of their customers. A DXP collects this meaningful, comprehensive data from various platforms and channels and uses it to create new-age digital solutions that ensure seamless quality as far as content delivery is concerned.

How does it work?

A reliable DXP platform combines the functionalities and benefits of everything in one place. Suppose a customer visits a website, app, digital platform, or an online portal for searching about something. A DXP would gather this information and provide it to the marketers more precisely to align their services according to the customer’s interest.

You can assume a DXP as a package that consists of the benefits of all technologies like a customer management system, customer relationship management tools, tools associated with digital asset management, e-commerce, etc., everything in a single place. Numerous vendors in the market offer different functionalities with their DXP offerings.

Difference between a DXP and a CMS

We all are familiar that both CMS and DXP are meant to manage digital content, but there’s a vast difference between the two. A content management system governs the content that is present on the website. It includes landing page content, blogs, website content, etc. It does solve the content management problem but does not provide any solution to the business owner who wants to connect with their customers beyond the web properties. And that’s where a DXP comes into the picture. A DXP is responsible for interacting with the customers across all digital platforms. And guess what? They’re still evolving. So there’s no doubt that these DXP solutions can replace a reliable CMS in the future.

Different types of DXP

Like everything over the digital platforms comes in different packages and types, a DXP is no exception either. There are two popular types of DXP available in the market: an open digital experience platform and a closed DXP. Let’s discuss a little more about them in detail.

• Open DXP: This DXP enables users to integrate multiple platforms from different vendors into a single system. This type of DXP provides flexibility and customization capabilities to organizations to alter the platform according to their choice, which also complements their product. Open DXP alternatives also give liberty to the customers to list their third-party products with the help of pre-built app integration. It can undoubtedly complement the customer experience in numerous ways.
• Closed DXP: You can assume it as a suite that has it all. A closed DXP is like a closed platform that already possesses all the needful DXP components in a single place. So this eliminates the need for third-party tools. It also allows the user to integrate with third-party products. Still, some common DXP’s available in the market are sufficiently designed to work comfortably with the help of their product line.

Do you need a DXP?

The digital business is driven by content, and a reliable DXP is responsible for causing this content appropriately to the customers. But the use and need of DXP can vary from company to company. Some business owners might need it for a particular solution, but that cannot be generalized for all of them. Introducing DXP into your digital strategy should depend upon your objective in the next quarter. Some common goals are:

• When you want to create a comprehensive strategy

Well, strategy timespan may vary from company to company. So for any organization that wants to completely streamline its marketing landscape to attract long-term marketing profits and benefits might want to invest in a reliable DXP in the early stage.

• Customized UX

Businesses might give their utmost priority to the quality of the product. Still, they agree that improving the user experience also enhances the sales and profit margins. A reliable DXP unifies the platform, enhancing the customer’s digital experience and allowing them to understand the product and the brand value better.

Key benefits of using a DXP

These latest technologies enable these brands to broadcast their values and top-notch products over the digital platform. Introducing a DXP into the business comes with a variety of benefits. Some of them are:

• The data and content used for marketing purposes are managed smartly and efficiently. It also helps in optimizing the campaign from time to time.
• The brand owner has comprehensive control over the brand, its content, and its online reputation, which certainly helps in eliminating the customer privacy loopholes and helps them mitigate risks.

Conclusion

Digital experience platforms might seem to be a new and challenging term to understand at present. However, after witnessing the customer requirements and how the technology is shaping the future, improving the customer experience would be the only solution left for the business owners to attract massive profits in the competitive market. Get in touch with our experts to know more about Digital Experience platforms and how they can help your business grow.