New technologies will forever be developed and continue to make their way into our fingertips. These constant launches greatly affect the way in which we interact with both individuals and businesses. Customer Experience Management (CEM) specifically addresses these technological launches and looks at how the new technology affects consumer behavior. Business owners who study CEM help gain understanding on how they can best compete in this new landscape.
First, we need to properly define Customer Experience Management. CEM is “the practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus, increase customer satisfaction, loyalty and advocacy.”
New Pressures of Customer Expectations
As we have all noticed, and most likely taken part in, new technologies have radically changed customer behavior. Smartphones, tablets and other handheld devices allow consumers multiple avenues to gain information online to evaluate their purchases. The overwhelming access to information pressures businesses to compete in new ways. When asking CEOs what are the top pressures they can address with a CEM program, they answer:
54% Customers are empowered with a wealth of information on many competitive products and services
33% Customers expect a consistent experience across multiple touch-points.
28% Customers expect faster issue resolution, whether through self-service or through an agent.
27% Proliferation of new customer engagement channels due to technological advancement.
Integrated Customer Engagement platforms like Agendize Online Scheduling are focused on solving those challenges.
Reasons for Doing CEM
CEOs report 5 reasons to adopt Customer Engagement Management strategies:
- 94% Customer retention
- 90% Customer satisfaction
- 85% Increase revenue
- 84% Customer conversion
- 83% Brand awareness & loyalty
- Gartner IT Glossary, 2014. Definition of CEM.
- Aberdeen, 2014. State of the CEM Market 2014: It’s All About Better Use of Customer Data.