Have you ever wondered why organizations operating the same space with similar talent, strategies, and product offers can produce widely varying outcomes? In my view, their embrace of “multi” vs. “uni” approaches to their businesses are key.
Take Home Depot as an example. Its strategy from its very founding combined the best assortment at the best prices with the best service. Not one “customer centricity” model, rather, they combined components for the best value proposition to disrupt the market.
So, too, is it in the PIM and MDM markets. The reason focus on Multi-domain Experience Management is based on a “multi” approach. Rather than limitations of a single, product data domain found in the PIM world, the “multi” in MxM enables the best experiences by customers for their end customer satisfaction and loyalty, per the following:
- Provides multiple domains (product, price, location, customer, etc.) to enable offer precision: the right product at the right price in the right location for the target customer
- Specifies and enables content for multiple channels: physical stores, printed catalogs, digital web presence, mobile, digital and print signage and more.
- Cross-domain intelligence: matches master/enriched data to operational data enables companies to distill, filter, and derive insights directly for multiple business roles merchant and marketers as well as those in supply chain, ecommerce, stores and more
- Experiential Inflection points, which are the multiple hand-offs that occur among parties participating in the content value chain, can be measured for overall effectiveness of delivering content in the context that business customers and consumers expect
Just as one person can make a difference in a company, so can one domain be useful. But it is the combined power of multiple domains being deployed in concert that enables demand to reach much higher levels, enables insights into attribution of what drove the demand, and provides the foundation for sustainable growth across digital and physical commerce.