A huge change is underway in customer services, brought about by the increasing competition, changing demographics, new technologies and advanced communication technologies. Customer Experience Management (CEM), which was earlier restricted to the contact center, is now shifting boundaries to become an enterprise wide phenomenon.
In fact, it is through better CEM that organizations are now trying to differentiate themselves and grow. In the long run, only those organizations will remain profitable that successfully address new realities of CEM and ride the wave of this paradigm shift to become market leaders by understanding each buyer’s psychology.
What is Customer Experience Management System?
CEM is a discipline that describes how a company treats customer relationships - how they interact and communicate with them, with a goal of transforming/converting satisfied customers into loyal brand advocates.
It involves:
CEM has to create a balance between a customer’s need and help businesses accomplish desired growth, enhance efficiency and earn greater profits.
If a company has a single customer experience management system, it gives them the ability to understand and improve upon customer experience by creating consistency across their journey with the business.
Benefits of Unified Customer Experience Management System
Businesses find it very challenging to manage multi-site, multi-shift, and multi-business customer services and still deliver a consistent customer experience, irrespective of the channel of communication.
Data collection and analysis is no longer viable the traditional way, where samples from a population would suffice to draw conclusions. Today, in order to know customer behavior, each of them has become a subject of observation.
With the aid of CEM, we can embrace the challenge of monitoring a large volume of data and improve the levels of customer satisfaction. There are numerous other benefits of implementing this system in the organizations.
. Anticipating Customer Needs
It is very challenging for organizations to compete in homogenized markets, and that becomes all the more reason why they should embrace CEM systems.
CEM gives organizations a chance to anticipate customer needs and solve them preemptively.
You are required to understand every point of interaction with the customer and know every moment of truth to decipher what makes them give your business a positive or a negative review.
In the long-run, more positive moments with your organization will translate into more loyal customers for a longer time span.
. Increased Satisfaction Scores
CEM equips organizations with most of the information they need about customers. They know how customers are reacting at every step of their journey with the organization. This empowers customer service teams to devise services to score high satisfaction.
Organizations also become aware about customer issues across several product lines. They analyze the target customer’s financial position. For instance, they gather data about customer savings, lending, credit, investment patterns to offer them the most convenient ways of paying for their products.
They also pay heed to the way customers interact with them on phone, on the web, through social media and live chats; and how person-to-person interactions takes place. In the end they analyze the most crucial moments of customers, and find ways to enhance communication, irrespective of the channels.
. Saving Costs
When organizations embrace CEM, all the teams are required to manage and learn how to use a ‘single system.’ You don’t have to organize training sessions for very newcomer or for in-house transfers.
The process gets imbibed within the organization’s culture. This is because CEM is not just a natural fit for the customer service department, but an enterprise wide commitment or phenomenon.
Besides, the customer service representative, every department including accounts, HR, and developers and management, is required to have a CEM mindset.
. Creating Consistent Customer Experience
Because CEM provides teams across the organization total visibility of business areas that impact customer satisfaction positively, they can divert resources to create internal consistency.
CEM will give leading indicators about business performance by measuring it against customer satisfaction across the different modes of communication. It will determine and present things that help build a strong bond with customers.
By using CEM organizations can align their company’s strategies, operations and objectives with the customer’s dynamically changing needs.
Yes, it is challenging and risky to implement, because every point of interaction and communication via different channels breeds the risk of dissatisfying customers. But, if consistency is established, huge rewards and opportunities await businesses.
They can drive repeat purchases, lead to effective customer retention, bring in customer referrals and spread positive word of mouth.
In fact, it is through better CEM that organizations are now trying to differentiate themselves and grow. In the long run, only those organizations will remain profitable that successfully address new realities of CEM and ride the wave of this paradigm shift to become market leaders by understanding each buyer’s psychology.
What is Customer Experience Management System?
CEM is a discipline that describes how a company treats customer relationships - how they interact and communicate with them, with a goal of transforming/converting satisfied customers into loyal brand advocates.
It involves:
The viewing and improving upon customer services and sales entirely from the customer’s perspective and understanding their experience across the entire journey with your business.
CEM also aims to promote a positive word of mouth and reduce detractors who negatively talk about your business.
CEM has to create a balance between a customer’s need and help businesses accomplish desired growth, enhance efficiency and earn greater profits.
If a company has a single customer experience management system, it gives them the ability to understand and improve upon customer experience by creating consistency across their journey with the business.
Benefits of Unified Customer Experience Management System
Businesses find it very challenging to manage multi-site, multi-shift, and multi-business customer services and still deliver a consistent customer experience, irrespective of the channel of communication.
Data collection and analysis is no longer viable the traditional way, where samples from a population would suffice to draw conclusions. Today, in order to know customer behavior, each of them has become a subject of observation.
With the aid of CEM, we can embrace the challenge of monitoring a large volume of data and improve the levels of customer satisfaction. There are numerous other benefits of implementing this system in the organizations.
. Anticipating Customer Needs
It is very challenging for organizations to compete in homogenized markets, and that becomes all the more reason why they should embrace CEM systems.
CEM gives organizations a chance to anticipate customer needs and solve them preemptively.
You are required to understand every point of interaction with the customer and know every moment of truth to decipher what makes them give your business a positive or a negative review.
In the long-run, more positive moments with your organization will translate into more loyal customers for a longer time span.
. Increased Satisfaction Scores
CEM equips organizations with most of the information they need about customers. They know how customers are reacting at every step of their journey with the organization. This empowers customer service teams to devise services to score high satisfaction.
Organizations also become aware about customer issues across several product lines. They analyze the target customer’s financial position. For instance, they gather data about customer savings, lending, credit, investment patterns to offer them the most convenient ways of paying for their products.
They also pay heed to the way customers interact with them on phone, on the web, through social media and live chats; and how person-to-person interactions takes place. In the end they analyze the most crucial moments of customers, and find ways to enhance communication, irrespective of the channels.
. Saving Costs
When organizations embrace CEM, all the teams are required to manage and learn how to use a ‘single system.’ You don’t have to organize training sessions for very newcomer or for in-house transfers.
The process gets imbibed within the organization’s culture. This is because CEM is not just a natural fit for the customer service department, but an enterprise wide commitment or phenomenon.
Besides, the customer service representative, every department including accounts, HR, and developers and management, is required to have a CEM mindset.
. Creating Consistent Customer Experience
Because CEM provides teams across the organization total visibility of business areas that impact customer satisfaction positively, they can divert resources to create internal consistency.
CEM will give leading indicators about business performance by measuring it against customer satisfaction across the different modes of communication. It will determine and present things that help build a strong bond with customers.
By using CEM organizations can align their company’s strategies, operations and objectives with the customer’s dynamically changing needs.
Yes, it is challenging and risky to implement, because every point of interaction and communication via different channels breeds the risk of dissatisfying customers. But, if consistency is established, huge rewards and opportunities await businesses.
They can drive repeat purchases, lead to effective customer retention, bring in customer referrals and spread positive word of mouth.