Why is Customer Experience Management so important?
Customer Experience refers to all experiences with a brand, a product or a company from the customer’s point of view that lead to a purchase decision. The implementation of feedback data into operational processes is called Customer Experience Management.
Customer experience plays a central role for business success. Companies can only optimize customer experience by improving it at each touchpoint.
The advantages of an optimized customer experience are:
Customer Journey in the Digital Age
Today it is much more difficult for companies to forecast at which touchpoints along the customer's journey, potential buyers show up next.
In order to have as many indicators as possible as to which touchpoints are particularly important to force purchase decisions, companies need the right key performance indicators (KPIs). One of the most important KPIs of Customer Experience Management is the Net Promoter Score (NPS), but also the Churn Rate or a Customer Satisfaction Score are important instruments of Customer Experience.
Central Elements of CX Management
A fully prepared measurement plan including the right KPIs is essential for a successful CX Management. Hereby the objective of each individual KPI used is of central importance. To fully understand the customer journey, correct measurement of the dedicated KPIs across various touch points is essential. This process is called Customer Journey Mapping. KPIs can include the NPS (Net Promoter Score) or the CSAT (Customer Satisfaction Score).
A further component of CX Management is the development of analytical tools. The analysis is intended to identify the most important factors influencing the CX and leads to meaningful insights: This way you find out what your customers consider to be particularly relevant and where you should apply the adjustment for improvements.
Insights gained through analysis should contribute to the optimization of products, services or corporate culture. Every CX Manager needs support from his staff to implement a successful Change Management. The right product can only sell with the right communication. For example, if the product has serious weaknesses, improved communication with customers will not do much good.
Once measures are implemented they should be monitored by regular pulse surveys. This is a continuous process which can also lead to individual KPIs having to be improved, supplemented or adapted. Thus, pulse surveys close the circle of a professional Customer Experience Management.
Worst case, customer experience also involves loosing a customer. Therefore, a successful CX Management includes a good churn prevention strategy: the loss of customers should be avoided at all costs. There are numerous and very different reasons for customers‘ loyalty losses. Price difference to competitors, product quality and percieved service performance are the main reasons for customers to churn.
But there are more reasons for churn:
Happy Employees make Happy Customers
The most important aspect of Customer Experience Management is focusing on customer loyalty. This does not only mean that happy customers do not churn, they also recommend your company to others and are an easy target for cross-selling and up-selling offers. Your management plays a decisive role in this. When executives sincerely value their customers, it is highly likely that your entire team will adopt this attitude.
Customer Experience is always closely linked to Employee Experience. Therefore, Voice of Employee and Voice of Customer programs should run simultaneously, be collected continuously and merged centrally. Equally important are programs that consist of a combination of experience data and operational data.
Corresponding programs therefore consist of a combination of experience data with operational data relating to product and marketing activities. This is the only way to place customer actions and feedback in context.
Why are Customer Experience Solutions important?
Better Employee Retention
of consumers came into contact with a competitor after a bad experience.
of consumers are willing to pay more for a better customer experience.
Source: CX Panel Survey 2019
Keep an eye on the "blind spots"
CX managers naturally focus on the essentials, the obvious, the so-called „hot spots“ of customer satisfaction. But there are also the opposite „blind spots“, fine signs of dissatisfaction, which are often overlooked. Stay alert with digitell.me anytime – at any touchpoint.
Customer Service Evaluation
Measure and continuously improve the performance of your customer service.
Close the gap between customer expectations and reality with customer feedback management.
Focus on your customers with feedback management and make your products more successful.
Customer Journey Mapping
Collect feedback from your customers at every touchpoint along the customer journey.
Churn prevention: reduce the churn rate of your customers through feedback management.
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