HomeBusiness PointCustomer Experience Management -...

Customer Experience Management – what is it? CX, CEM

Customer experience management is usually understood as a business strategy based on managing the overall customer experience of your company. It includes the customer’s experience, conscious and unconscious perception of the connection with your brand, acquired throughout the life cycle.

What is customer experience

It represents the sum of the customer’s perspective about a company. It includes even those buyers who may not shop from you but have a  positive or negative attitude towards the business. Almost all companies need to receive these kinds of feedback throughout their life, even in the absence of the brand on the market.

However, a customer’s experience can not be just calculated based on impressions and thoughts. Nowadays, modern marketing has allowed businesses to use it as a methodology in developing close and long-term relations with the target audience in three basic steps:

Step 1. Act.  Firstly, marketers start launching special advertising campaigns for selling the company’s goods and services.

Step # 2. Observation. The next step is to observe potential customers’ reactions, especially those who performed the conversion action.

Step # 3. Reaction. The result obtained from the data allows an organization to make changes, not in the marketing campaigns and strategy, but also objectively improve their relationship with the targeted customers.

What is the benefit of using this method? The most significant advantage is considering the opinions of potential clients in real-time. If your ad campaign is unsuccessful, you can improve your marketing strategy based on the collected customer experience data. Contrarily, if your clients are 100% satisfied, no one can stop your business from exceeding the target audience’s expectations.

It is a fact that high customer satisfaction is the key to high demand for the company’s products, and it will also make sure that one satisfied customer will recommend you to ten others.

According to a recent market survey:

  • 77% of customers return to a shop or brand due to previous positive experience;
  • 47% of customers do not want to make any purchase from online and offline stores after reading negative reviews about a brand;
  • 87% of people will not make a second purchase from any brand with which they have negative memories;
  • 4+ positive ratings is the minimum required to compensate for the negative experience of the consumer.

According to the above statistics, anyone can understand that customer experience is not an influenceable phenomenon. On the contrary, it needs to be controlled. This is how a new trend in marketing was born – Customer Experience Management (CEM).

Customer experience management in modern businesses

According to CEM, it is not enough to know what goods and services a customer likes and provide them with quality services to an offline or online customer.

To effectively manage customer service experience, it is necessary for any organization to subtly understand the customer’s motive and interests to maintain good relations with them. Nowadays, the concept of a portrait of a consumer is getting more and more attention. It includes the study of a set of characteristics of customers that can influence their purchasing habits. Some of the most important criteria include gender, age, income level, profession, education.

Unfortunately, most businesses wake up when there is an urgent need to maintain wholesale customers when they’ve suffered from a heavy dose of negative feedback. Usually, it happens in the form of customer churn.

Check out: Businesses Must Start To Collaborate with KYCC Solution providers

Customer service management can be expensive. Organizations can’t just buy and find out all the personal data about a particular person’s customer experience. It requires an effective system that can collect and analyze data from subsequent implementation in advertising strategies. However, even with the investment of time and effort, customer experience management has many advantages:

It helps in strengthening the support of present consumers. Whenever a shopper gets a positive shopping experience, they will be more than happy to visit that store again and recommend it to their family and friends.

Help spread awareness about the brand. Online reviews can work magic for any brand, and interpersonal conversations will help them reach new heights in market recognition. It is essential to work on online and offline recognition simultaneously.

Possession of new customers. Recommendations and online reviews can attract many new customers, counting on a positive experience.

Increase in new customers base. The result of the method will be based on many factors, including the type of industry, the preferred content strategy, the quality of SEO texts, etc. However, an organization will definitely get a noticeable overall increase in site traffic and conversion.

Company’s income growth. It is very simple, the more customers a business has, with a high satisfaction ratio in their product and service, the more actively they can expect economic flows in their account.

Reduced direct marketing budgets. With good customer experience management, a company can expect a reduced bounce rate on their site and the actual churn of customers. In addition, it will also help them save their budget from advertising their products and services. Marketing optimization can help an organization free up budgets for other areas to grow your business.

With a high-quality CEM service, a company receives the most valuable form of advertising – word of mouth. It can make a customer so happy that he wants to share his own experience with all acquaintances and family. Also, he can recommend your company personally, write testimonials and positive reviews, increasing the businesses’ reputation and awareness,

Key features of CEM

The customer service experience can be a fickle phenomenon. It can be both positive and negative, and it is very hard for companies to change a customer’s experience from one type to another. If a company successfully transforms the negative attitude of the customers into a positive one, it is wonderful for the company. However, it will only bring a decline in reputation and financial loss for an organization if the reverse happens.

Therefore, it is a must for any organization to implement CEM practices in the content strategy of your business prospect and not just observe the behaviour of customers from the side. The best method is to start by exploring the key features of a customer experience management system.

About the company: Knowmax is a service of end-to-end analytics and knowledge management platform. This team brought together ideological people dedicated to their work and working for the result. The company is dedicated to creating softwares for marketers that can help them optimize advertising costs and understand where customers are coming from. Their services include solutions for decision trees, visual guides, chatbot knowledge, knowledge base and learning management.

Check out: How to make performance marketing work for you?

Most Popular

More from Author

3 Communication Methods Businesses Can Use

Effective communication is crucial for businesses of all sizes and industries....

8 Tips For Naming Your Startup Business

Coming up with a name for your Your Startup Business can...

A 6-step Salesforce Customization Guide

There comes a moment in each Salesforce owner’s life when they...

Some Common Bookkeeping Mistakes That You Should Avoid 

Bookkeeping is undoubtedly one of the most important aspects of any...

Read Now

What to Do Before Opening a Reward Checking Account?

If you've never opened a reward checking account before, it can be easy to be intimidated by the process of doing so. For some people, it's not just a matter of opening an account and getting started. Other things need to happen before your new rewards checking...

Best Strategies for Improving Employee Productivity

Businesses now engage, work, and interact better than they previously did. You might always want to look for new ways to promote collaboration, engagement, and productivity. Investing in your workforce paves the way for success in today's competitive markets.  A modern business should use technology, robust policies, and...

Customer Journey Map: The key to Understanding Your Customer

What is the driving force and engine of the commerce universe? The customer. It has always been and will be the person who buys the goods and services. All the companies are competing against each other to win the attention of people and turn them into clients.  Obviously,...

How to Launch a Business in 9 Simple Steps

Starting a business is not an easy task; it requires time, effort, and commitment. However, with the proper strategy and execution, it can succeed! People decide to start their own businesses for a variety of motives, ranging from the desire for greater control over their jobs to...

Best Places to Buy a House in Maine

The Pine Tree State is known for its fresh lobsters and more than 40,000 acres of wild blueberries. Still, in recent years it has also become an excellent opportunity for real estate investors to turn to realtors in Augusta, ME, for a profitable real estate investment. Maine's average...

The Effectiveness and Advantages of Using Billboards

There’s a reason that so many highways are littered with billboards seemingly from end to end in this country. Billboards are an effective marketing and advertising medium, and they’re a popular way for brands to get their messages in front of the eyes of their consumers. Billboards...

20 Major Benefits of Headless Commerce

Headless commerce is quickly becoming the go-to platform for businesses and entrepreneurs looking to maximize their online presence. This revolutionary technology enables organizations to separate front-end content from back-end functionality, allowing for a more seamless and efficient user experience. With headless commerce, businesses can create tailored shopping...

How to Use Airline Loyalty Programs to Receive a Clear Membership Discount

CLEAR is a popular security program that is designed to help airport passengers save time at the airport. It helps numerous fliers avoid security lines at over 60 US airports today. If you are a member of particular airline loyalty programs, you may save about $60 on...

Top 5 Ecommerce Sites in the UK

Having a website for selling your products is something that can be very beneficial for your business. Whether you sell clothing, toys or furniture, you can be sure that you'll be able to make some sales if you have a good eCommerce site. But which ones are...

A Guide to POS System Software Features and Benefits

A cloud-based POS system software offers many advantages, so it's crucial to comprehend your needs and what attributes you need before making a choice. Here are the six things you should pay attention to while searching for the latest software for point-of-sale. The most important characteristics of the...

5 Must-See Attractions in Dubai

Much of the world we live in today is a result of human ingenuity. Nothing speaks to this more than the city of Dubai. Upon first glance, or even a lengthy exploration of the intricacies of the city, you might never know this now shining spectacle was...

5 Benefits of Digital Transformation in Business

Digitalization is the new market reality these days. With the rapid expansion of high-speed internet and change in demographic preferences, companies have to start their digital journey to stay in business. This has caused a pressing need for digital transformation, which is the integration of digital technologies in...