Benefits of Customer Experience Management To Increase Profit
What is Customer Experience Management?
Customer Experience Management (CEM) is a concept that describes how a company takes control of how it interacts with its customers. Typically, each group in an organization will build out customer interactions from its own perspective that of the various silos. CEM is about viewing and then improving the interactions between your business and your customer entirely from the customers’ perspective and across the entire journey they have with your business.
Benefits of Customer Experience Management:
1) Engagement: Give anyone a great customer experience and they’ll reward you with engagement: They buy more, listen more, work harder for you, respect you, like you. The list is endless. To create the behavior you want in others, first you must engage.
2) Reduced Costs: If you understand what really motivates your customers, you can influence their behavior by appealing to them. This can create substantial cost savings in both acquisition and fulfillment.
3) Loyalty: Customers will have an increased bond with your business if they feel good about their interaction with you. Once they’ve felt that sense of familiarity, trust and comfort, they’ll find it tougher to go elsewhere.
4) Attraction: Positive word of mouth created by engaged customers has always been incredibly powerful, but never more so than today, leveraged by the strength and viral capabilities of social media – it simply breeds, multiplies and costs nothing.
Best Customer Experience Solution:
The best solution is CXMnow that optimize your front and back office, improve customer loyalty, increase sales and collections, and align your customer care with strategic business goals. CXMnow is a popular core system market standard for measuring customer experiences and quantify them in a CXM Index. Your business can get started immediately. It is free to create a profile on CXMnow.com. CXMnow market standards and tools to proactively deal with the difference between the customer expected in a given transaction and the customer actually saw.
It is the collection of processes a company uses to track, oversee and organize every interaction between a customer and the organization throughout the customer lifecycle. The goal of CXMnow is to optimize interactions from the customer’s perspective and, as a result, foster customer loyalty.
It is the process of creating and responding to customer interactions in order to satisfy customer needs and ultimately result in customer satisfaction with services and loyalty to the company. The research firm then looked at the percentage of loyal customers at 100-plus businesses and determined that “customer experience leaders” had an advantage of more than 14% over “customer experience laggards” in all three areas,” wrote Bruce Temkin, who now is managing partner of Temkin Group.