Word of the Day: customer experience management (CEM or CXM)

Word of the Day Daily updates on the latest technology terms | November 15, 2018 customer experience management Customer experience management (CEM or CXM) is the collection of processes a company uses to track, oversee and organize every interaction between a customer and the organization throughout the customer lifecycle. The goal of CEM is to optimize interactions from the customer's perspective and foster customer loyalty. To manage the customer experience, a company needs to create a customer-centric strategy that encompasses all interactions. How to create a good customer experience CEM (or CXM) requires companies to have a 360-degree view of customers, with integrated, up-to-date data on customer accounts. There are four critical steps to creating a successful customer experience strategy: Understand your customer. The first step in building a customer strategy is understanding customers' needs and behaviors and creating customer segmentation based on these factors. Create a customer vision. Once the target audience is identified, the next step is to create a customer journey map. This helps identify customer touchpoints and anticipate how they will interact with the product or service and could help customer retention down the road. Develop an emotional connection. This step involves creating a brand personality that evokes positive consumer sentiment and helps establish a relationship between the customer and the company. Capture customer feedback. It is important to measure customer satisfaction in real time. Customer feedback can help the company track customer perceptions, enable quality monitoring and measure the success of the customer experience strategy. The customer experience journey The customer journey includes interactions and touchpoints through traditional channels, such as website purchases, phone calls and live chat as well as social media, text and other emerging communication mediums. With more communication channels comes greater complexity. A customer journey map allows companies to identify customer touchpoints throughout the customer lifecycle. This helps a company to create a customer experience based on predictable customer needs and behaviors. This approach also enables a business to review and streamline its processes throughout the customer journey, which can improve customer satisfaction. Continue reading... Quote of the Day "From a CEM standpoint, it's not enough to understand a customer at the tail end when they already made a purchase. You need to understand the full experience." - Cesar Coba Trending Terms customer life cycle 360-degree customer view customer journey map brand personality customer segmentation customer analytics Learning Center Improving customer experience strategy with digital tweaks vs. transformation Don't worry about endless lists of technologies to improve customer experience strategy. Read about companies that figured out how to choose the CEM technology that worked best for their customers -- and reaped the benefits. Invest in people for better customer experience in marketing In an effort to improve customer experience in marketing, research firms IDC and Gartner found that organizations are increasingly hiring staff with designated CX responsibilities. Guide to customer experience management best practices, technologies Learn why customer experience management (CEM) is growing. Read about technologies, strategies and customer experience management best practices that businesses are applying to their CEM. Open data, customer experience AI the focus for retail automation Like it or not, customer experience AI will infuse sales and marketing for years to come. At Ignite 2018, SAP, Adobe and Microsoft band together to standardize data models in preparation. The role and responsibilities of a customer relationship manager What exactly does a CRM manager do? Is the role of the CRM manager different from a customer relationship manager? Get the answers here. Quiz Yourself The question on everyone's _____ is how to improve customer experience and cut costs at the same time. a. minds b. mind Answer Stay in Touch For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com Visit the Word of the Day Archives and catch up on what you've missed! FOLLOW US About This E-Newsletter This e-newsletter is published by the TechTarget network. To unsubscribe from Whatis.com, click here. Please note, this will not affect any other subscriptions you have signed up for. TechTarget, Whatis, 275 Grove Street, Newton, MA 02466. Contact: webmaster@techtarget.com Copyright 2018 TechTarget. All rights reserved.