consumer will recommend a company that delivers great customer experienceconsumers will consider to purchase more from your company if they had a superior service experience from youHave your company paid enough attention to creating a better customer experience? We hope so. Since...
Unfortunately, we found many companies reluctant in doing it.
Their reasons vary from arguing the fact that the cost might outweigh the benefit to simply admitting that they dont applycustomer-first culture in their company.
This is truly unfortunate. Sometimes we forget, but customers are the ones who pay your employees wages, right?
Theres no other choice really than providing only the best customer experience for them.
With that in mind, theres no excuse really for not practicing customer experience management (CEM).
The practice of designing and reacting to customer interactions to meet or exceed customer expectations, and, thus, increase customer satisfaction, loyalty and advocacy. It is a strategy that requires process change and many technologies to accomplish
What is CEM?
Indeed, all these required time, effort and money investment seem intimidating, but in this customer and technology eras, your company will not be doing much without it.
A company who is known as a market leader usually believes in the importance of customer experience improvement.
This is why CEM is vital, especially for corporates and big companies. Its about viewing, and eventually improving the interactions between your business and your customers entirely from their perspective.
The reasons why CEM is important
RaisingProfitabilityInvesting in CEM surely appears to be a good move for any company. If you do it right, good Return on Investment (ROI) will surely come.1
For example, there was a time in 2013, cited by a Forrester report, a $10 billion company made a modest shift in customer experience. As a result, the company reported a $65 million revenue increase from product sales, a $116 million increase from reduced churn, and a $103 million increase from word of mouth. Thats a total of $284 million dollars.
ReducingcustomerchurnSome of your customers are likely to slip away when other companies offer something better.
This is since you cant be sure that your customer service team is available 24/7 they are not robots. Then, how can you keep your customers served when they send complaints during holiday season?
Thats why you need to have a proper CEM in place.
Building stronger and lasting relationships with your customers
Its every business aim to establish stronger and lasting relationships with their customers, and your company wont achieve that if you offer only subpar customer service experience.
Putting your effort and money on CEM will help you eliminate these areas in your business where poor customer service has been identified.
ReducingcustomerchurnWe couldnt agree more. Your company can really set itself apart by providing excellent customer experience.
This is where CEM offers the perfect platform to make your service more superior amongst others.
4Customer experience is your only source of sustainable competitive advantage.
Definingyour companystrue valueNo matter if your company is a B2B or B2C, a product-oriented or a service-oriented, your customers will always be the ultimate judge.5
This is when CEM comes in handy. By routinely performing CEM well with complete tools, practices and methodologies, it becomes hard for customers to resist your companys appeal. stomerienceExpManament
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