Digital Experiences
DXP platforms obtain explicit consent from users and provide personalized, valuable content that resonates with them. Depending on the jurisdiction, these DXP platforms adhere to anti-spam regulations like CAN-SPAM, GPPR, PECR, PIPL, and others.
A report states that companies can generate 40% more revenue from personalization and that 89% of marketers experience positive ROI in their marketing campaigns. Personalization is no longer an option for companies.
Increased competition, fluctuating market trends, and rising customer expectations compel customers to prioritize personalization. Digital experience solution platforms (DXP platforms) are the key to personalization.
With that being said, DXPs are not that simple. They can be standalone digital products or a comprehensive suite of products with various functionalities. Moreover, DXPs can be different for each sector. Some DXPs have functionalities that meet the requirements of a specific niche business. This blog will discuss the most common types of DXP platforms and more. Keep reading.
A digital experience solution or a DXP platform is software that manages digital experiences for companies across multiple digital touchpoints. These channels can be online, offline, and emerging technologies.
Online Channels
Online channels include websites, mobile applications, social media, emails, E-Commerce platforms and search engines.
Offline Channels
Offline channels include physical stores, call centers and IoT devices.
Emerging Technologies
Emerging channels include VR and AR experiences, voice assistance, chatbots, and live chat interactions.
Regardless of the channel, a DXP platform enables companies to create, manage, deliver, and optimize customer experiences. The most common features of a digital experience platform solution are content management, E-Commerce, personalization, and experimentation.
In simple terms, digital experience platform solutions are an upgrade from conventional content management solutions. A DXP platform outlines the entire digital customer lifecycle, from content creation to implementation, setting KPIs, measuring the results, and adapting if necessary.
Digital experience platform solutions handle the bulk of data management and UI-related tasks, allowing companies to focus on developing innovative products and exceeding customer expectations. DXPs may not be a quick fix or a magic wand that improves things overnight. No wonder the DXP platform market is expected to be $11.73 billion in 2023 to $13.01 billion by 2024 (10.8% CAGR) and $20.42 billion by 2028 (11.9% CAGR)
However, they have a valuable set of tools and technologies, such as AI and ML, personalization engines, marketing automation, CRM, search and navigation, and others, to optimize performance and deliver personalized experiences.
The eight core components of a digital experience solution platform are as follows:
1. Content Management
Most DXP platforms have an in-built content management system. This system is a central repository that stores content related to the organization. Companies can add, remove, and edit content and share it on multiple platforms.
2. Asset Management
A DXP platform stores digital assets like images, videos, audio files, cryptocurrencies, intellectual property, and more as a central information repository. Companies can use these digital assets to achieve a particular goal or convey important messages.
3. E-Commerce
A DXP platform’s E-Commerce functionality enables companies to conduct online transactions. The platform handles the backend tasks of operating a digital store, such as checking out, tracking orders, setting up payments, and more.
4. Customer Relationship Management
Companies can leverage the DXP platform’s built-in CRM capabilities to store customer information, build and nurture long-term relationships, and deliver personalized experiences.
5. Data Analytics
Digital experience platforms use robust technologies, such as big data analytics and content intelligence, to understand user behavior and recommend products and services based on their preferences.
6. Personalization
Being a central repository of information, the DXP also stores vast amounts of customer data. After a detailed analysis of customer information, DXP platforms can deliver automated and tailored customer experiences.
7. Experimentation
The experimentation functionality in a digital experience solution platform allows companies to conduct A/B tests on the content. These tests facilitate enhanced customer experiences and reduce post-implementation risks.
8. API and Integrations
Owing to the DXP platform’s flexible APIs and open architecture, companies can integrate them with existing and emerging technologies. Such integrations can further enhance the DXP platform’s capabilities to suit specific business requirements.
Every organization is different and has unique needs. Hence, there are no cookie-cutter DXP platform solutions. This section will delve into the 6 types of digital experience platform solutions and what they bring to the table.
1. CMS-Centric DXP
A CMS-centric DXP is a platform whose core element is a content management system. Its primary purpose is to create, manage, and publish content across multiple platforms. It also has other functionalities like personalization, E-Commerce, and data analytics. However, companies use a CMS-centric DXP for their content management capabilities. The other features are a bonus.
Features of a CMS-Centric DXP
Who can Benefit the Most from CMS-Centric DXPs?
Companies that can benefit the most from CMS-centric DXPs include the following:
Limitations of CMS-Centric DXPs
The limitations of CMS-centric DXPs are as follows:
2. E-Commerce-Centric DXPs
An E-Commerce-centric DXP is designed to boost sales and enhance customer shopping experiences. Its core features and functionalities prioritize E-Commerce activities. This DXP provides companies the tools to manage the entire customer journey, from product creation to customer experience. Companies can integrate E-Commerce functionalities with numerous digital touchpoints, including multiple devices like smartphones, tablets, social media, and websites.
Features of a E-Commerce-Centric DXP
The salient features of an E-commerce-centric DXP are as follows:
Who can Benefit the Most from E-Commerce-Centric DXPs?
E-Commerce-centric DXPs are ideal for companies that thrive on customer experience and E-Commerce performance. The companies that can benefit the most from E-Commerce-centric DXPs are as follows:
Limitations of E-Commerce-Centric DXPs
3. Portal-Centric DXPs
A portal-centric DXP is a digital experience platform solution ideal for portal creation and management. Companies often opt for tailored portal-centric solutions that cater to a particular audience or serve a specific business goal. A portal-centric DXP provides a central repository for users who want to access specific data, use certain apps, or collaborate.
Features of a Portal-Centric DXP
The salient features of a portal-centric DXP are as follows:
Who can Benefit the Most from a Portal-Centric DXP?
Portal-centric DXPs are perfect for the following organizations:
Limitations of a Portal-Centric DXP
The limitations of portal-centric DXP are as follows:
4. Composable DXPs
Modular architecture lays the foundation for a composable DXP. Smaller and independent software components called packaged business capabilities (PBCs) form a composable DXP. These PBCs are programmed to perform specific tasks like content management, personalization, and E-Commerce.
The best part about these PBCs is that they are independent software components. However, users can combine them with other PBCs to create personalized user experiences.
Features of a Composable DXP
The key features of a composable DXP are as follows:
Who can Benefit the Most from a Composable DXP?
The following organizations can benefit from a composable DXP:
Limitations of a Composable DXP
The following are the limitations of a composable DXP:
5. Hybrid DXPs
Hybrid DXPs are a relatively new entrant in the digital experience platform solution landscape. They offer extensive features like pre-built integrations, composable architecture, analytical tools, and more. These hybrid DXPs provide a balanced approach with greater flexibility and less development time.
Also, they are cost-effective while ensuring faster time-to-market compared to compostable and traditional DXPs. Overall, a hybrid DXP is an excellent platform to meet the diverse needs of organizations.
Features of a Hybrid DXP
The key features of a hybrid DXP are as follows:
Who can Benefit the Most from a Hybrid DXP?
The following companies/sectors can benefit the most from a hybrid DXP:
Limitations of Hybrid DXPs
Hybrid DXPs are advantageous, but they also have their limitations. The following are the limitations of hybrid DXPs.
As seen above, many types of digital experience platform solutions are available in the market. Each of them has its pros and cons. Besides the industry and sector, companies catering to a specific niche may require heavily customized DXPs. Hence, they must prioritize current needs, future challenges, and long-term objectives while choosing a DXP. Understand that cost matters, but not at the cost of functionality and features.
If a company lacks the expertise or knowledge to develop a tailored DXP solution, consulting an experienced digital experiences services provider would make sense. Tridhya Tech has been a renewed development company for over a decade. With a robust presence in over eight countries, we have over 500 satisfied clients. Stay ahead of the competition and take innovation to the next level with our guidance. Call us at +1 386 597 1231 or email us at [email protected].
401, One World West, Nr. Ambli T-Junction 200, S P Ring Road, Bopal, Ahmedabad, Gujarat 380058
Kemp House 160 City Road, London, United Kingdom EC1V 2NX
Nürnberger Str. 46 90579 Langenzenn Deutschland
Level 36 Riparian Plaza, 71 Eagle Street, Brisbane, QLD 4000
4411 Suwanee Dam road, Bld. 300 Ste. 350 Suwanee GA, 30024
Cube Work Space, 24 Hans Strijdom Avenue, Cape Town
B 503 Sama Tower, Sheikh Zayed Road, United Arab Emirates
34 Applegrove Ct. Brampton ON L6R 2Y8