Platform Strategies

PIM, DAM and PXM

Especially in times of digitalization, platform strategies are becoming increasingly important. But just 23% of German companies have a platform strategy. This was the result of a survey by the industry association Bitkom. This was reason enough for us, together with contentmanager.de, to take a closer look at the topic of platform strategies. Get ready to learn about the benefits of such a platform strategy, what platforms exist in the first place, and how to implement them in the most useful way.

A platform strategy can sustainably improve the efficiency of processes and the user experience. But again and again, companies are faced with the question of which platform is the right one, which individual solutions exist for their own requirements, and how these platforms can be expanded in the future. We have addressed and answered all these questions in our paper. Of course, in our paper you will also get instructions on how to strategically implement such a platform. Ready? Let’s get started.

What is a platform strategy anyway?

As soon as the term platform is mentioned, we immediately think of large B2C platforms like Amazon or social networks like Facebook. But there is much more: B2B, B2G or P2P. Although each platform meets different needs, they are similar in their basic functions. Platforms are nothing more than a kind of ecosystem that connects stakeholders. Whether companies are dealing with customers, suppliers or other stakeholders. Platforms make it possible to exchange information and data and, thanks to centralization, ensure more efficient processes and short distances. A platform does not have to be detached, but can also be connected to many other platforms. This is particularly useful when, for example, product information is supplemented with digital assets. A platform, whether standalone or integrated with other platforms, is therefore nothing more than a digital ecosystem.

A platform strategy is when there is a strategic approach to a digital ecosystem. In other words, goals, business models, core functions and value creation processes. It’s not just about pure platform development where different players interact, but also about values that are sustainably beneficial for all stakeholders. Therefore, a platform strategy should also always keep future growth and scalability of the platform in mind.

Why PIM and DAM belong to a platform strategy

A platform contains information and data. In the vast majority of cases, a digital platform is an additional sales channel, whether in B2B or B2C. Operators of these must therefore provide both product information and digital assets if they want to sell their products to the public. For this to be possible, a PIM and a DAM system are needed. For many platform strategies, they are therefore part of the standard setup. They can be considered separately in the platform strategy or as a separate platform. When PIM and DAM are combined into one platform, it is called a PXM platform, i.e. a platform for product experience management. Too many abbreviations? I’ll take a very brief digression.

• PIM: Means Product Information Management. This is a system for centrally managing product information such as product descriptions, dimensions or prices and preparing it for sales.
• DAM: Is the abbreviation for Digital Asset Management. This refers to a system for centrally managing digital assets such as images, logos, documents, videos, etc.
• PXM: Means Product Experience, i.e. the customer’s product experience. For this, PIM and DAM are combined and enhanced to deliver compelling brand and shopping experiences to customers at every touchpoint. Therefore, PXM is able to optimize and offer personalized content and media depending on the target group and distribution channel.

How do I implement a platform strategy for PIM, DAM or PXM?

Whether you want to include PIM and DAM as separate systems in your platform strategy or as a PXM platform is entirely up to you. Unfortunately, we cannot take this decision away from you. But no matter what you decide, a platform needs a good technical foundation, comprehensive planning, and an understanding of architecture. Below I’ll show you 10 steps you can take to increase your platform strategy:

1. Requirements analysis
2. Selection of a PXM platform or a singular PIM and DAM solution
3. Data migration and integration
4. System configuration and customization
5. Training and education
6. Testing and quality assurance
7. Implementation and rollout
8. Monitoring and continuous improvement
9. Data update and maintenance
10. Continuous further development

All the points listed here pursue one major goal: the business challenge, i.e. what result do you want to achieve with your platform strategy. All of the above steps are aligned with your goals and requirements.

Would you like to know the individual steps in detail? Then download our full whitepaper on this. In it, you will learn step-by-step how to implement a platform in a meaningful way. Also, what options are available to you to keep improving platforms and adapting them to the company’s needs. Highlight: You’ll also learn how to use user feedback to further develop your own platform strategy… and most importantly, you should!

Oh yes, Artificial Intelligence (AI) is also covered in our paper. After all, AI is already being used today in PIM, DAM and PXM. Read our paper to find out what this is all about and how you can save important resources and further optimize your customer experience.