– Is Your Organization Ready for the Big Move!
The pervasive use of mobility devices for communication; increased customer reach, and their changing behaviour patterns have recently called for a redefinition of the concept of ‘Customer Relationship Management’ as we know it.
The new definition has expanded to include a longer and more complex customer relationship cycle. It may begin from your website, Twitter, Facebook and other social sites, through to your support system, and you may connect with you customer via a host of devices such as a PC, tablet, and smartphone –chat or voice.
While CRM continues to remain the core building block for customer engagement, its traditional definition is unable to expand to embrace the influx of next generation social technologies and most importantly, an individualized approach to consumers. It is why CRM comes to pave the way for consumer experience management (CXM). “CX is less about a new software category to replace CRM and more about solving a decades old CRM software limitation of delivering the right data at the right place and completing the last mile of the customer interaction.” writes Chuck Schaeffer, Director at Tectura.
CXM is thus the holistic management of the entire customer experience, right from the time they first see your company or product via a search engine or social networking site to when they visit your website or store and engage with your company. This includes interacting with your salesperson, buying your product, and then interacting with your support team.
What Does CXM Mean to Your Organization?
Today, technology enables your organization to engage in a two-way communication with your customers on the channel of their choice. While this has significantly increased the interaction cycle, technology by way of a CXM solution enables you to drill down to the individual customer and address their specific needs. A sophisticated and complex tool, it enables an organization to maintain a carefully crafted, consistent experience for the consumer through all the touch points with your organization. CXM goes beyond synchronize your internal processes like sales, marketing, customer service and technical support and takes into account the need to deliver services demanded by heightened customer expectations.
Expanding your CRM solution to CXM has numerous advantages for both you and your customer. CXM enable you to increase your customer satisfaction, loyalty and acquisition rates. Additionally, research by Forester shows that positive customer experience impacts their behavior in three ways, namely, they are more willing to consider another purchase, they are less likely to move to your competitor, and lastly, customers are more likely to make a favorable recommendation on your product to their friends.
Aspects Your Organization Needs to Watch to Successfully Transition to CXM
A CXM solution is especially relevant in today’s scenario when a quick search on the internet throws forth thousands of competitors, and consumers have a growing number of social media channels and mobility solutions to share their opinion on. Successfully transitioning to a CXM solution requires your organization to have,
- A powerful content management solution – your consumers are generating valuable content about you. Ensure your CXM solution has the ability to document all this communication. A good content management system must integrate seamlessly with both your website and social media sites and it must help you repurpose stored content. It must also provide intelligence on content that is effective.
- Ensure you have a highly engaging social media presence – your customers are out there, talking. Engaging with them through social media is important to market your products, respond to feedback and build loyalty. Your CXM solution has to be robust enough to back you up on this effort.
- Ensure your website and social media pages are interactive and responsive. This means more data will be created and stored in your CXM solution. More data facilitates exact and precise marketing strategy as well.
- Your CXM solution must also provide the traditional CRM features – which allow your organization to capture leads and opportunities, enable trouble-ticket management and customer engagement. Your CXM solution should be able to help you trace the entire interaction you have with your customer.
CXM solutions are only just making their way into the market and still have much to improve, however, CIOs and CMOs for the first time have a unique opportunity to engage with their customers right from their first touch point, which may be through the web, to when they finally make a purchase.
Is Your Organization Ready to Leverage Customer Experience Management?
Customer is king, and customer experience is key. The traditional CRM is paving the way for CXM, both in B2B and B2C segments. A great customer experience is critical for business growth. Having realized this basic success mantra, enterprises today need to focus on adopting comprehensive CRM solutions that stretch into the realm of CXM. To address this spurt in demand, CRM vendors and service providers have expand their offerings with new features and functionalities and offer customized and consolidated solutions that meet newer business requirements.
Before your organization jumps in and adopts a new solution that promises CXM however, look around and ensure you understand the core model of your business. Backed by a strong ISV package and a trusted SI you should be ready to take your business to the next level!