When a customer gets associated with your business, their transaction isn’t just about paying for a service and walking out. There is certainly more to this relationship.
‘Customer experience management’ is one such parameter, which optimizes interactions from the customer’s perspective and as a result, fosters customer loyalty.
Customer experience management is a vast horizon, which not only includes data metrics, but, all possible interactions. These interactions can be via traditional channels, such as purchases, customer service requests, call centre communications. It can also be felicitated with increasing social CRM platforms such as Facebook, Twitter, Google plus, LinkedIn, Instagram etc.
For effectively managing customer experience, an organisation needs to create a strategy that encompasses all customer touch points throughout customer lifecycle. The essence of customer experience management is to treat customers as individuals. As goes a famous quote, ‘consumers are statistics, customers are people’. It is about knowing your customers thoroughly.This can only happen if you can create and deliver personalised experiences that will give customers strong reasons to stay loyal to your brand, and also promote it.
So, why is it important?
The concept of customer experience management has increasingly become vital in today’s hyper-competitive and hyper-connected global marketplace. If your organisation has captured this skill effectively, it will help you in different ways as explained below:
1. Helps you build a strong base for customer loyalty through differentiated experience
2. Lowers costs by reducing customer churn rate
3. Boosts revenue along with incremental sales with existing and new customers from word of mouth
4. Strengthens your brand preference over competitors’
For a refined approach, an organisation can follow this 3 step guide:
1. Personalise all Customer Interactions
Once you have a thorough understanding of the customer, you can effectively use that knowledge to personalise every customer interaction. You can thereafter focus on the customers, along with the context in which they operate. Data and statistics can help in building that focus, deliver relevant and insightful offers, recommendations, advice, and service actions especially when a customer is most receptive. In today’s scenario, customers have more presence, power and choice than ever before. If you don’t provide a relevant, insightful and timely message, someone else will. Make the most of it, now!
2. Right Message, Right Place, Right Time – Every Time!
To deliver greater value at each customer touch point and to improve customer experience, you need to keep a track of your data analytics in specific stages during a customer’s life cycle. This is the only way of ensuring that you deliver the right message at the right place and time. Each stage in a customer’s life cycle is important for effective experience management. It is an opportunity to enhance their experience. It is also an opportunity to gain insight that you can feed back into your marketing processes to draw from the next time.
3. Creating and Managing Complete Customer Profiles
To deliver stellar customer experience, you have to know your customer better than ever before. That means creating and maintaining complete customer profiles that can help you gather insights and important information related to him. The more you know your customers, the more relevant offers you can propose to them and hence build a stronger bond. This can drive metrics like brand loyalty and customer retention. Now who doesn’t want that?
Great customer experience management can boost the revenue and the overall turn rate of your business. If you want to add more thoughts and suggestions to this, please let us know in the comments section.