In this blog, you will get an insight into what is customer experience management and Personalized CXM.
What is customer experience management?
Customer experience is reaching a new frenzy with technology enabling CXM to write unprecedented stories of customer delight. But, technology is just an enabler. It is important for leaders to be completely focused on the actual outcomes. With this clear goal in mind, they can write online engagement journeys involving a happy ride for their customers – one that is personalized and radically unique.
What does the consumer crave for?
The customer will lap up an experience that has to offer solutions and recommendations based on his/her individual context. This context can be created based on a deep understanding of his/her need and preference. This can be done with relevant data, but that is good only if it can be mapped into actionable insight. These actions need to multi-dimensional and applicable across multiple devices and channels for seamless journeys.
Disruption is the new consolidator
When businesses want to stay relevant to their end users, they need to invent, reinvent, and churn with the times. If customers get target offerings from marketers that map to what they want, there is bound to be higher loyalty and advocacy.
Today, online business models have become the enablers for business boosting, as well as major disruptors in the customer reach-out arena. In order to enhance its engagement, a company has to innovate its Personalized CXM strategy. The idea is to understand the journey if the end users and find ways to monetize the relationship in a sustained manner.
The challenges faced by companies today are to keep their audiences engaged because disruptive measures, competition, and newer methods threaten to topple a successful model overnight. The online world is difficult to control and the digital platform ecosystems as well as contexts change swiftly and dynamically. Different platform ecosystems and devices represent technical challenges to support a seamless experience.
On top of it, partnering with businesses to share data and context over these platforms is easier said than done. If the data trace for the audience trail goes on to another platform’s ecosystem, it may mean a dead end when it comes to the ability to understand the commercial journey of the user.
The key is really to find more ways than the primary revenue stream channels, to keep the users engaged and hooked. Part of this can be to merge retention strategy with customer relationship management strategy, and thus CXM rides over and above every customer touch point in an enterprise. Content management is also a popular way of attracting people to your sites, and then tactics may be needed to convert those who visit these ‘informational’ pages into subscribers and customers who can bring in revenue.
The data about your target audience can help you take initiatives in a proactive manner. However, if those insights do not make it back into the CRM system, the impact would be non-measurable and fluid. Complimentary services, for instance, are a vital shot in the arm to boost the user engagement. This can enrich the customer experience in an online system, as well as of the company’s overall brand image. Taking this concept a step further ahead, businesses should anticipate what the audiences will need and offer it at the right time, at the right place.
A bird’s eye view
What is customer experience management umbrella? The umbrella needs to encompass online as well as traditional channels, such as paper-based as well as email based triggers and touch points. The entire model should have frequency blockers to avoid overwhelming customers and irking them. The balance and a healthy mix will ensure that the message is reached across in a well-planned and coordinated manner across the spectrum of channels. This is the power of a unified understanding of the customer relationship.
Personalized CXM also covers websites and web apps, ensuring that customer relationships are maintained to get actionable data that feeds the sales, marketing, and customer rep departments, to name a few. Customers will keep coming back if they get personalized content and not only personalized campaigns.
What is customer experience management cognitive computing? It is playing an important role in getting close to the customers. Machine learning and deep learning is coming to the fore for companies looking to develop modern CXM capabilities. This is how CRM has evolved towards its current form that thrives on digital immersive user experiences.
Rich experiences are toying now with Virtual Reality and Augmented Reality as well. The idea is to add value to each experience in the brand building exercise. In fact, Personalized CXM systems are now focusing on two-way communication to enable better capturing the VoC (Voice of the Customer). These help businesses to identify the customer’s lifecycle and this throws more opportunity points to push their value-added services along the journey.
Enterprises also need to play along. Everything offered on a platter in retail, for example, may not go down well with the consumer, who would like to discover and purchase products based on the exploration. Here, interactive engagements for prodding and questioning so as to help them make a better choice can play a great catalyst for a successful purchase. This is what technology can help to leverage.
CXM tech is undergoing a paradigm shift
It is indeed an exciting time for those who wish to write their CXM histories. The convergence of mobile and a plethora of devices with the appearance of practical adoption of AI, greater availability of cloud, huge volumes of data and high processing speeds offer limitless possibilities for businesses to get close to their customers.
So, Now we have an idea of what is customer experience management and its important features.