We all have our favorite brands. Our favorite brands are like our friends. We trust them, we are loyal to them and they listen to us. Amazon happens to be one of my personal favorites. I took some time to think about why that is. To no surprise, I was able to think of a large list of reasons why I consider Amazon one of my favorite brands. Every single reason somehow relates back to my experiences I've had as a customer.
Gartner defines customer experience management (CEM), as "the practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus increase customer satisfaction, loyalty and advocacy." CEM is crucial for all businesses and is a strategy that calls for careful planning, process changes and technologies.
"The practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus increase customer satisfaction, loyalty and advocacy." -Gartner
As the number of connected devices continues to increase, consumer demands and marketplace competition increase as well. Consumers have more choices and power than ever before. If they have a poor experience, no problem, they can easily find an adequate substitute.
Forrester revealed that if a consumer has a poor experience, 89% are willing to switch providers. This statistic alone indicates how important it is to keep your customers happy. In fact, it costs five times as much to acquire a new customer than it is to keep an existing customer satisfied (Gartner). The key to customer satisfaction: CEM and it sure is worth the investment.
Providing a consistent customer experience remains a challenge for many communication and media providers. Rarely, if ever, do we hear of a provider being well-known for their exceptional customer experience. There is much room for improvement and rewarding opportunities in this industry.
Here are some CEM best practices to focus on:
In the long run, CEM can make or break a business. Make it your company's New Year's resolution to focus on your CEM strategy. Your customers will thank you.
If you would like to experience the benefits of CEM and would like additional information on how Excelacom can help your company incorporate CEM's best practices into your business model, please contact us at firstname.lastname@example.org. We would be more than happy to provide you with a free consult.