In today’s market, the relationship between a customer and a product/service provider isn’t over at the moment of the purchase – it certainly goes beyond just purchasing. Businesses want their relationship with their customers to last for as long as possible, so they can profit from it. This is why modern customer service strategies focus more on the overall experience.
Before discussing the importance of CEM in marketing, here is the definition of customer experience management.
Customer Experience Management, or CEM, is built around the concept of ‘customer is king.’ The term describes a set of processes that companies use to manage and track all interactions between a customer and their business during their lifetimes. This is done in an effort to optimize interactions from the customer’s perspective to increase customer loyalty.
The Automated Customer Experience Management (CEM) domain is gaining a lot of attention from business analysts and is hardwired from the bottom up within the enterprise. The majority of companies who care about their customers are working hard to develop and enhance their Customer Experience Management strategy since a focus on product development often ignores the emotional connections between brands and their customers.
Why is CEM Important?
Customer Experience Management is a distinguishing factor that decides which brand is popular in the marketing industry. The customer has the choice to select a brand that leaves an impact on them. Customer perceptions and sales are affected by the customer experience with a brand.
An Effective CEM Program Can –
- Give customers differentiated experiences that increase brand loyalty.
- Enhance your revenue by adding incremental sales from existing clients and new sales that are generated by word of mouth.
- Engaging invaluable and memorable customer interactions increases customer loyalty.
Reduce customer churn and lower costs.
Value-Additions of Automated Customer Experience Management (CEM) –
- Feedback Acquisition– Customer feedback helps brands to discover how customers feel about their brand and how they interact with it throughout their journey. A good form of feedback will allow them to see which parts of their strategy are working and which parts could use improvement.
- Problem Solving – CEM helps in identifying any pain points customers may have. It helps brands identify any issues in their ecosystem that cause problems for customers to resolve. Furthermore, it allows them to deal with customers’ queries effectively and to directly assist them. Marketing campaigns and messaging can be developed around identified pain points.
- Omnichannel Vision – CEM allows brands to make better decisions about their customers. It enables interaction and sees what platforms or devices customers are using. Developing good omnichannel strategies and 360-degree vision is essential to success in the digital age, with digital transformation playing a major role in modern business.
- Provision of Real-Time Responses – Customer complaints that are not resolved quickly can be frustrating. CEM also provides instant response, resolves problems, and transforms customer experiences. Customers would prefer receiving a response as quickly as possible to waiting for answers.
- Boosted Customer Loyalty and Retention – Businesses are now aiming at retaining customers. By using CEM for real-time responses and other measures, businesses can increase customer support and retention. They can also improve their Net Promoter Score (NPS).