Product Threads and How Can It Improve Your Customer Experience
May 19, 2022
Defining Product Threads
A product journey starts from concept to customer, building a strategic asset along the way and creating the continuous product thread. This valuable asset can be leveraged for various purposes, such as sustaining customer relationships, improving product quality, and bringing in new customers. product threads adapt the lifecycle from design through engineering and product lifecycle management (PLM). All the way to manufacturing instructions, supply chain management, and customer events & feedback.
What Can Product Threads Improve?
A product thread can improve many things such as: –
One of the main benefits of the product thread is that it can provide insight into what customers need or want from your business or brand. Some examples are getting feedback on a new idea or gaining an understanding of why they are not purchasing your product at a high volume.
A strategic asset like a thread will also show you if any issues arise during the development stages. Most threads will have access to information such as graphs or charts that can be used to monitor the progress of the product.
Initiate New Product Ideas
Another benefit of the thread is that it can help initiate new ideas for products, creating a funnel for ideas. Having this type of structure for new product ideas to come through helps maximize efficiency and product quality.
Are There Any Downsides to a Product Thread?
There are positives and negatives to a product thread depending on how it is organized, who uses it, and how often.
The main benefit of the thread is that it gathers product insights and provides continuous feedback on its quality. This can be very valuable when pinpointing product issues as well as understanding customer needs. A structure that is visible to all members of your company will also allow for continuous improvement, at no cost to you.
The lack of control involved in a public product thread can be a challenge when not used properly. Not allowing employees enough free time can hinder the effectiveness of the program, along with any potential negative emotions that arise from being in a public forum for feedback.
Challenges of Broken Product Threads
Trying to repair a thread in an enterprise is like trying to fix a broken dam. If you haven’t taken steps to fix the broken dam walls first, it’s not going to be easy. The same principle applies here; if you haven’t taken steps to set up your PIM system, then it’s going to be difficult for you to sort the problems that come up.
A New Era of Product Information Management (PIM)
A business without a proper PIM setup is like a boat without a rudder or map. It’s impossible to steer and you have no way of knowing where you’re going. But the good news is, that PIM is easier than ever before! Gone are the days of expensive licensing deals – now, if you have any kind of device that can connect to the internet, which these days is just about anything in the market, then you have everything that it takes to make your business successful.
So, what are you waiting for? Get started on your PIM setup today with KloudPLM! The faster you get started, the sooner your business will be back on track and headed in the right direction. Schedule a demo today.