Showing posts with label CXM. Show all posts
Showing posts with label CXM. Show all posts

Monday, February 17, 2014

Customer Experience Management (CXM) Implementation Approach for Dummies






We have discussed the overview and importance of customer experience management in the previous article Customer Experience Management(CXM): The New Frontier for Companies to Focus on. Here is the recommended approach/process for the implementation of customer experience management in your organization

1. Business Goal definition and Strategy Implementation

Align your business goals with your customer engagement strategies. You have to first define the intended customer experience in line with your business goals. Few examples are brand awareness, customer satisfaction and loyalty improvement, Cost reduction, Market penetration, New customer segments, Enterprise Growth, Increase Revenue, New Products / Services creation, Innovation and so on. 
It is important to think about customers as individuals and to treat them as individuals, rather than just looking at a mass of customers. In other words, your individual customers should be the heart and soul of your organization. Creating a customer centric culture in your organization is important in order to deliver your brand promise. Then everyone in your organization can effectively work together to improve the customer experience. You can put a strategy in place in line with your business goal that will include the processes you put in place, the people involved, training, analysis, governance, and the specific technology needed. 

2. Build a Seamless Experience across Multiple Touchpoints

A touchpoint is any and all interactions a consumer has with a company via physical communication or digital media. Examples are Social Media, email, mobile, word of mouth, campaign pages, call centers, online chat, trade shows, blogs etc. Consumers are using these channels to influence their buying decision. It can be to get information, or interact with the company or past purchasers. Ensure that you’re presenting your audiences with a cohesive, consistent and engaging experience across their customer journey. 
Customers must be presented with an experience where content and brand is in accordance to the user and their context, and will be encouraged to move forward to what best leads them to conversion. Follow below steps to achieve this.

  1. Map out the multiple paths your customers take
  2. Determine the different touchpoints in the path
  3. Understand what customers are trying to accomplish and the actions taken at each.
  4. Understand what could prevent customers from moving to the next stage and solve them.

Companies should present a cohesive experience at every stage of customer experience. By taking a look at the customer journey and understanding how each touchpoints are connected or overlaps with each other, an organization can then plan out cross channel experiences that they can deliver. 

3. Asses your CXM Solutions

Organization requires an ecosystem of technology products working together in order to provide a personalized experiences across the touch points. Digital channels are growing and will continue to do so, enabling digital marketing to become a huge influencer. Take an inventory of all your systems of experience your company has in place today. Who do you use for web content management, analytics, CRM, marketing automation, email marketing, social media monitoring, and other repositories? What other types of technologies do you use to help you in delivering the best customer experience to your audience? 
For example, analytics solutions provide a way for organizations to track data, which in turn allows them to be customer centric because, to have a good CXM platform, you need to have a strong data management strategy in place. You also have to be able to track customers and that is a tie to CRM solutions. Email remains important because it is one of the predominant methods of communication used to keep in contact with customers. Web Content Management platforms are also important because content is the cornerstone of cross-channel engagement.

Also Read Customer Experience Management(CXM): The New Frontier for Companies to Focus on


4. Integrate Customer Experience Management Solutions 

Companies will want to adopt the right technology framework in order to have a clear, holistic view of the customer and deliver them with the best customer experience throughout their journey. Email Marketing, Web Content Management, Customer Relationship Management, Social Media Monitoring, Web Analytics, Videos, Social Media and Networks etc. are some examples for CXM solutions that will Enable You to Achieve Success. Each touchpoint should be in sync - the website, mobile, in-person, email, call center - calling for the organization to take a unified approach when properly implementing a customer experience strategy. 
Your customers not only visit your website, but also visit your Facebook page, read your emails, and interact with you through their mobile device. They’re going to weave their way in and out of every channel, so ensure they’re having a consistent and integrated experience no matter how they interact with your brand. The foundation to a successful CXM strategy is content which comes in many forms like website content, eBook, webinar, video, podcast, infographic, blog, article, slides, research report, etc.
To create a holistic view of your customer as well as have a full account of their interactions, you’ll need to successfully integrate these applications and contents together since these accurately record who your customers are, how they’re reacting, what they’re saying, and what they would like to achieve. In order to accomplish this, companies need to integrate their existing technology applications and contents into one comprehensive digital experience hub.

5. Deliver the Best Customer Experience 

Understanding who your customer is essential to providing them with the best customer experience. Personalization and Content Targeting can be achieved by presenting, at the right time, the most relevant content to each unique visitor based on the information you know about them to ensure they take the desired next step. You can build a customer profile and target the right information to them. Some of the examples are purchase history, demographic data, social data, preferences, site behavior, search history, device types etc. The Widespread Growth of Mobile and Social media can boost your customer experience delivery more efficiently and effectively.  

Mobile: Companies need to be aware of the wide array of the potential devices their customers could be using when they start thinking about their mobile strategy. If you are not presenting consumers with information via the channel they’re utilizing, it could potentially have a negative impact on your company’s brand image and sales. A location based service can be a best example in this context. If a customer is around the corner from your store, send them a notification that you’re having a sale if they opted in.

Social: Social is becoming an integral part of a customer experience. Consumers are interacting with companies on Facebook, Twitter, LinkedIn, and YouTube. Social’s main advantage is the ability for anyone to have a conversation with a brand and let their thoughts and experience is known to a much larger audience. Managing the customer experience across social media is just as important as managing their experience in person or on your website. 
Adding social sharing buttons such as “Like,” “Tweet,” LinkedIn Share, or Google + can spread your content. Brands should also consider adding commenting and ratings of products, services, blogs, and articles. Social media monitoring gives companies the ability to analyze numerous media channels – online news sites, blogs, forums and posts, and social sites. They can monitor the pickup and buzz surrounding their brand, competitors and industry and respond in real-time.

6. Analyze, Measure, and Improve

Companies are always looking for ways to improve the customer experience. By tracking how customers are responding to your channels and interactions and analyzing that valuable data, you can make improvements to the customer experience. Know which marketing messages work fine and which is not fine to further drive your visitors to take action. Start measuring how your customers distinguish their interactions across channels through technics likes social media analytics, surveys etc. determine how there metrics and models performing against your set strategies and goals. Apply appropriate corrections based on the findings will help you to meet the objectives.

Related Article: Customer Experience Management(CXM): The New Frontier for Companies to Focus on

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Sunday, February 16, 2014

Customer Experience Management(CXM): The New Frontier for Companies to Focus on


CXM Overview

You might have heard about the new motto ‘Customer Experience Management (CXM)’ in many professional and official forums. Now days many people seem to be talking about it, analysts are writing about it and conducting many conferences dedicated to it and so on. So, what is it?

Customer experience (CX) is the sum of all experiences a customer has with a supplier of goods and/or services, over the duration of their relationship with that supplier. This can include awareness, discovery, attraction, interaction, purchase, use, cultivation and advocacy in the customer lifecycle. 


According to Gartner, Customer Experience (CX) is the customer’s perceptions and related feelings caused by one-off and cumulative effect of interactions with a supplier’s employees, channels, systems, products and services. 

Amazon, Zappos, Apple, Disney, Nordstrom, Starbucks and Marriott are few examples who pioneered in customer experience management and proved number one in their business areas. Starbucks spent less than $10MM on advertising from 1987 to 1998 yet added over 2,000 new stores to accommodate growing sales. Starbucks' popularity is based on the experience that drove its customers to highly recommend their store to friends and family.


A company's ability to deliver a product or service experience to its customers helps to increase the consumer spending with the company and increase loyalty to its brands/products. Loyalty is mainly driven by a company's interaction with its customers and how well it delivers on their wants and needs. The function/entity within an organization having the goal of establishing and improving customer experience is called customer experience management or customer relationship management.

Building great customer experiences is a complex initiative involving strategy, leadership commitment, technology integration, formulating and fine turning business models and brand management. Customers have an experience every time they interact with a company/brand—whether it is shopping in a department store, using a mobile device, grabbing coffee or making bill payments. That experience can be good or bad or somewhere in between. This experience impacts their impression and loyalty to the brand/product/company. Customers feel more loyal to those brands and buy/use more when they have a delightful experience. Customers’ expectations are growing; companies that completely ignore CEM will be far behind. 

Critical Success Factors

Here are few critical Success factors for an effective CXM initiative in your organization.

1)Define CXM : Amazon and Starbucks provide totally different kinds of customer experiences, and both are successful. Define what CXM means in your organization. Each entity/function in your organization should be clear on how they contribute to CEM and how they can seek to improve it. 

2)Funding: Have a budget for CXM investments. Some initiatives may involve the purchase of software, resources, or other resources. 

3)Cultural Change: Managing the customer experience should be part of the company culture. Initiative requires full support from executives, division heads, and then all employees. 

4) Management Commitment: Strong management commitment is needed for implementing a sustainable CXM initiative. 

5)Incentives: If a company is placing their customers’ experience as a high priority, then its employees should be incentivized for the success in a way that aligns with the KPIs.

CXM implementation Approach

Customer Experience Management topic is very broad and complex, no one can really offer a universal approach that works for every company. The breadth of organizational coverage, along with the specific qualities/goals will decide the complexity of CXM implementation/improvement within the organization. The vagueness in definition and details gives each company the freedom to define and implement the customer experience in a way that best suits to their business model. Here is the recommended approach for the implementation of a customer experience management in your organization

Conclusion

Customers are more demanding now than ever. They feel that interacting with every company should be easy and personalized. For example, when I have already logged into my Amazone site, I shouldn't have to fill out my address again to request for a shipment. They already have all of my information. Why should I ever have to repeat it?
Customer Experience Management as a concept is important because it involves looking at the company from a customer’s perspective. Right digital tools, skill set, culture and processes can help your company to provide best in class user experience to your customers. Knowing who your customers are and presenting them with consistent, relevant content across all the touch points in which they interact with your company will help you to further engage your customers leading to business success. Start leveraging all your CXM technologies, and enable them to work together. This will allow you to deliver the optimal experience to your customers, thus increasing customer satisfaction and loyalty, bringing immediate impact to your brand name, as well as long term benefit to your company.

Related Article: Customer Experience Management (CXM) Implementation Approach for Dummies