A digital experience platform (DXP) can benefit any brand that engages with customers across multiple digital touchpoints like mobile apps, emails, chatbots, websites and social media. For some industries, however, investing in a DXP may be even more important for long-term success.
Here鈥檚 a look at what a digital experience platform actually is, some of its benefits, and the top industries that can benefit from using one.
DXP platforms explained
What is a digital experience platform?
When it comes to defining a digital experience platform, Gartner provides the industry鈥檚 most cited explanation: A digital experience platform (DXP) is a well-integrated and cohesive set of technologies designed to enable the composition, management, delivery and optimization of contextualized digital experiences across multi experience customer journeys.
Put another way, a digital experience platform is software that helps you facilitate the customer鈥檚 experience across all of your digital touchpoints. It integrates your content management, customer relations management, data analytics, and other tasks into one platform.
Put another way, a digital experience platform is software that helps you facilitate the customer鈥檚 experience across all of your digital touchpoints. It integrates your content management, customer relations management, data analytics, and other tasks into one platform.
What are the biggest digital experience platform benefits?
Understanding the benefits of digital experience platforms can help you decide if it鈥檚 a worthy investment for your marketing team. Here are three key digital experience platform benefits:
DXPs create more agile teams
A DXP can bring various teams out of their silos so they can work together within the same platform. When multiple teams can use technology to collaborate, you can expect fewer mix-ups, miscommunications or missed deadlines. This helps improve speed and consistency overall.
DXPs improve customer loyalty
Being able to deliver customized digital experiences across all touchpoints is something customers not only appreciate but are increasingly expecting. The best digital experience platform vendors deliver localized and personalized omnichannel experiences all along the customer journey.
DXPs facilitate better business decisions
Having all customer insights in one place can help stakeholders make better predictions and reduce risk. This includes being able to track what's working鈥攁nd what's not鈥攁nd make data-informed changes as required. Better decision making also includes productivity and speed.
What businesses can benefit from a digital experience platform?
As consumer expectations for personalized digital experiences grow thanks to companies like Amazon, Spotify and Netflix, it鈥檚 incumbent on brands to think beyond the blog and start providing a consistent multichannel experience. Investing in a digital experience platform (DXP) is the first step toward making your customers feel that you are messaging directly to them. Here are six industries where a digital experience platform can make all the difference:
Financial services
When customers seek financial services, whether it鈥檚 to get a quote for insurance, make an investment, or apply for a mortgage, they are looking for highly personalized information. Because everyone鈥檚 financial situation is so unique and the industry competition is so fierce, organizations that offer customized content can better keep customers engaged as they move up the funnel. A digital experience platform can help companies connect at the right times, in the right way, and on the right channel.
B2B
Organizations that sell business services or products typically rely on a lot of lead nurturing, customer engagement and informational content to make sales and retain customers. Especially if a B2B company happens to sell software or a highly technical product, the sales funnel may be complex. A DXP can help you differentiate your offerings from competitors that may just run traditional ads or marketing campaigns that aren鈥檛 highly targeted. Often, it鈥檚 more about convincing prospective customers they鈥檒l be in good hands if they choose to work with you; a personalized digital experience can help close the deal.
Retail
Customers who are researching items before they make a purchase decision have so many ways to do so. It鈥檚 not just a simple Google search anymore. Today they may start reading up online, then switch to their phones, then head to a brand鈥檚 social media pages, and so on. The path to transaction is not a straight line, and therefore, retailers need to engage audiences throughout every touchpoint, so they have a smooth customer journey.
Education
College students live in a digital world and expect their university experience to keep them engaged both on campus and online. Higher education institutions that use digital experience platforms can offer highly personalized content based on each student鈥檚 educational and career interests. On the other side, being able to aggregate student data can help institutions track student engagement and know when support is needed. This could help improve retention rates and student outcomes.
Healthcare
The world of digital health has exploded over the last few years as health organizations realize that patient care doesn鈥檛 end when someone finishes their appointment. From hospitals to health insurers to health apps, being able to supplement in-person visits with digital content and interactions can increase engagement and promote better patient outcomes.
Travel
Another digital experience market is travel and hospitality. Gone are the days of sitting with a travel agent. Today鈥檚 jet-setters are researching, planning and booking trips and excursions using their smart devices. Being able to offer travelers a seamless digital experience can help turn them into loyal customers.
