Customer Relationship Management or CRM has been around for years and is thought of as the main reason why companies have been able to position the best product to their most profitable customer and increase their ROI from the whole interaction. This works just fine when the market was not as segmented as it is now and customers would buy your product no matter what if you were the best or only option available.
Customers today are highly mobile and are more demanding. A customer would like to interact with the same company over multiple channels and still be able to have a consistent experience across each one of them. After all, how many of us would like to be asked about our details when we move from a web interaction to a mobile one? Customers today have a variety of choices available and brand loyalty is a thing of the past and continued patronage from the customer is the company's privilege and not the other way around.
So how do companies engage with the customer so that they have a favorable experience? How do you make the customer identify himself with the brand or product? And most importantly how do you get him to come back for another purchase?
The term CEM/CX was coined in early 2000s and the main aim was to identify and resolve the above mentioned problem. CEM or Customer Experience Management would enable a company to provide a customer with a unique cross-channel experience that would go beyond the traditional product placement rules preached by CRM.
CEM should not only be able to provide a customer with the ability to interact over any channel of his choice but also be able to continue his transaction over a channel of his choice, at every step providing a unique experience that helps him/her identify with the brand.
The first step for an organization is to be available to the customer over every channel possible, mobile or web or social or whatever else the customer may choose.
The second important step is to be able to identify the customer across channels and allow him to be able to start or continue a multichannel transaction.
Lastly, provide a user experience that is unique and similar irrespective of the channel of choice. Deliver a consistent brand experience!
Most importantly, the organization should be able to monitor the customer's behavior across multiple channels and be able to analyze and predict what would be the next interaction with him/her and over which channel. After all the best place to get the second order is where you got the first one!
CX solutions are required off every vertical and increases in complexity as the channels grow. Surprisingly, most companies are yet to start on this journey and at best are in the very initial stages of the same.
Companies have incomplete CX available, in the sense that you might be only able to do certain transactions over a certain channel or customer discovery re-starts every time you change channels or the brand positioning and visibility and experience is totally different in each channel.
It is about time that companies look at Apple and their like to see how a streamlined CX could help generate greater revenue from the same customer than was possible earlier.
In my opinion, a great UI across channels is like putting a perfume outlet at the entrance of a mall, relaxes the customer and allows him to spend more that he would have.
Also, CX would allow companies to suggest multiple cross-sell and up-sell products with a far greater conversion rate than having a one size fits all approach.
Maybe it's time that organizations understood the benefits of CX and started investing in it...before they are too late and have a lot of catching up to....
Customers today are highly mobile and are more demanding. A customer would like to interact with the same company over multiple channels and still be able to have a consistent experience across each one of them. After all, how many of us would like to be asked about our details when we move from a web interaction to a mobile one? Customers today have a variety of choices available and brand loyalty is a thing of the past and continued patronage from the customer is the company's privilege and not the other way around.
So how do companies engage with the customer so that they have a favorable experience? How do you make the customer identify himself with the brand or product? And most importantly how do you get him to come back for another purchase?
The term CEM/CX was coined in early 2000s and the main aim was to identify and resolve the above mentioned problem. CEM or Customer Experience Management would enable a company to provide a customer with a unique cross-channel experience that would go beyond the traditional product placement rules preached by CRM.
CEM should not only be able to provide a customer with the ability to interact over any channel of his choice but also be able to continue his transaction over a channel of his choice, at every step providing a unique experience that helps him/her identify with the brand.
The first step for an organization is to be available to the customer over every channel possible, mobile or web or social or whatever else the customer may choose.
The second important step is to be able to identify the customer across channels and allow him to be able to start or continue a multichannel transaction.
Lastly, provide a user experience that is unique and similar irrespective of the channel of choice. Deliver a consistent brand experience!
Most importantly, the organization should be able to monitor the customer's behavior across multiple channels and be able to analyze and predict what would be the next interaction with him/her and over which channel. After all the best place to get the second order is where you got the first one!
CX solutions are required off every vertical and increases in complexity as the channels grow. Surprisingly, most companies are yet to start on this journey and at best are in the very initial stages of the same.
Companies have incomplete CX available, in the sense that you might be only able to do certain transactions over a certain channel or customer discovery re-starts every time you change channels or the brand positioning and visibility and experience is totally different in each channel.
It is about time that companies look at Apple and their like to see how a streamlined CX could help generate greater revenue from the same customer than was possible earlier.
In my opinion, a great UI across channels is like putting a perfume outlet at the entrance of a mall, relaxes the customer and allows him to spend more that he would have.
Also, CX would allow companies to suggest multiple cross-sell and up-sell products with a far greater conversion rate than having a one size fits all approach.
Maybe it's time that organizations understood the benefits of CX and started investing in it...before they are too late and have a lot of catching up to....