Customer Experience Management leads to a Differentiation in the Market
Achieve a unique Position with Customer Experience Management
This is the question that Customer Experience Management (CEM) is dealing with. Because while nowadays you can neither rely on product nor on price to guarantee a unique selling position long term, customer experiences have the potential to make a company unique and special for the customer. Especially so, if these experiences reflect brand values of the company and at the same time excel needs and expectations of the customer.
Positive Development of Earnings thanks to loyal Customers
Apart from the fact that customer experiences work as an extremely efficient differentiating feature, an organisation's consistent alignment with CEM significantly contributes to a positive development of earnings. Thus, loyal customers during their customer life cycle buy considerably more, show a higher affinity for cross- and up-selling offers, actively recommend the company in this period and at the same time have a higher price tolerance. Oracle in their study on Customer Experience present impressive figures: 86% of customers are willing to pay more in return for a good customer experience. At the same time, roughly 89% of customers start a business relationship with a competitor after becoming «victim» of a bad experience.
Customer Contacts in Customer Experience Management
The importance of experiences on the customer side is often underestimated by companies. Very often it is not known how the customer experiences the company, the brand, products and finally the service. Also the numerous touch points between company and customers are often not known. For the set-up and implementation of a successful Customer Experience Management the following basic knowledge is necessary :
- Where are the touch points between company and customer?
- In which interaction did the customer have a positive experience?
- How relevant is the positive experience?
- How frequent are the positive experiences?
- How was customer loyalty measured?
- Which interactions led to negative customer experiences?
Deliver positive Customer Experiences with trueAct
For a successful implementation of a CEM strategy it is most important to obtain the commitment of the upper management. Therefore, it is not only the task of service agents to develop their passion for customers, but also managers should live these values every day. Effective implementation of CEM is mainly about not losing sight of the right attitude and customer focus. All employees of the organisation have to be aware that it is their common goal to excite customers. With trueAct the efficiency and effectiveness in delivering customer experiences can be strongly improved across all touch points. Additionally, very quickly a 360° perspective of every customer is achieved.
Start your CEM Transformation today
Nowadays, only those who know how to constantly fulfil customer needs and brand promises, can differentiate themselves in the market long term and thanks to loyal customers can benefit from an increase in sales and new customers (recommendation). On the way to the effective CEM organisation it is essential to listen to customers and understand their needs and expectations. Once these needs are satisfied and combined with a strong service culture as well as constant realisation of brand promises, the door for your CEM transformation is wide open.
Read enough? The short version in the form of a Whiteboard Animation is available right here. See for yourself what Paula, a missing battery pack and a vicious circle have to do with Customer Experience Management.