In this blog you will get an insight of customer experience management lifecycle and the 5 Stages of customer lifecycle management.
Customer Experience Management(CXM)
When there is so much being said about better Customer Experience Management, there is a need to go back to the point of reference. What does a CXM entail? It is definitely a whole lot more than just the touch points of a business and its customer. It is a complete journey, one that is unique to each business. For companies to make this journey a joyful one, it is fundamental to understand how to manage each aspect of CXM.
In today’s always-on world, businesses can run 24/7. This also means that CXM needs to span all time-zones. The manner in which a brand can engage its audience has been totally changed in this digital world with ever-growing smartphone penetration. Organizations are, thus, finding it challenging to retain loyalty whilst growing their footprints as well.
“Really no set beginning or end.”
Customer Experience Management Lifecycle
- The customer experience management lifecycle surely starts with the customer expressing interest in the brand’s products or services to the purchase he/she makes. It also extends to creating a happy and loyal customer by way of delivering the service and support such that the loyalty vision is attained inadvertently.
- The real issue lies in today’s fast pace and low patience levels of people. It is likely that you get only a very short time to catch the attention of your target audience that is already looking to find the first possible excuse to get away from you, with competition crying out loud to woo the same.
“As soon as a customer finds a need that can be fulfilled by your product, the Customer experience management lifecycle kicks in.”
Related: CXM & PRM functionalities – Two faces of the same coin, Their features and benefits for the companies.
Some common aspects or the 5 Stages of Customer Lifecycle are
1) Genuine need and awareness
The customer’s need is the first amongst the stages of customer lifecycle in CXM. When your brand’s offering can be mapped to the need, it is a fine pairing of a solution to a problem. Where marketing has been focusing on creating demand, its role is now shifting gears to create awareness of the possible solutions.
This leads them to focus on ensuring that the brand’s offerings are well-known widely so that the customers can become aware of them. A lot of underlying work goes on to make this possible – from advertising to marketing campaigns, publicity, brand ambassadors, and even word-of-mouth.
2) Two-way interaction
How the company interacts with the customer is crucial on deciding whether purchases are made. Interactive, proactive, personalized engagements are always received positively. The first impression can make or break it. The first look or visit to the website of social media page can engage or be a turn-off.
This is followed by initial welcome engagement via multiple channels. Then, the generic reviews become very important testimonials to your quality at this point.
3) The ‘feel factor’ – experience
Once the customer has decided to make a purchase, it is very important to let him/her find out the right product easily. How the payment is made, how helpful the sales or customer rep is, how relevant is the information available – all go into making the customer’s experience a pleasant one.
Once a purchase has been made, it is important to send in a thank you note, but one that does not overwhelm the customer with more products like a pure upsell/cross-see gimmick. Investing in a periodic follow-up reach-out to check if everything is working is appreciated.
4) Stepping stones to ‘engagement’
If a customer likes a product, he will talk about it to his friends, colleagues, and relatives. Thus, every interaction will boost the business and increase customer experience. Or, in case the experience is not up to the mark, these are equal opportunities to spread negative comments and harm you as well.
Making the customers feel that their concerns are being heard, catered to, and resolved can go a long way to ensuring a happy engagement. Even long after the purchase has been made, companies that take pains to listen to the customers creates a base for loyalty.
5) The final frontier – Loyalty
A feeling of being cared for is what turns the customers into loyal ones and not just the best of products. Delivering well on both the counts is what makes an organization stand out from the rest. More than the discount offers or reward schemes, it is this caring attitude and action that enables customers to become loyal.
Thus, Above is the 5 important stages of customer lifecycle management which every firm must follow.
All in all
The customer experience doesn’t start or end with the one purchase he/she makes with the company. Rather, it is an ongoing process which builds up with each interaction. CXM can truly be leveraged best when all these factors are taken into account at the time organizations are creating a strategy for CXM with a customer-centric focus.
This ensures that all processes, technologies, and systems have an underlying CXM principle that cuts through all the business functions, thereby creating a business ecosystem that pivots around the customer.