Customer Experience Management 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 Customer Experience Management is to optimize interactions from the customer's perspective and, as a result, foster customer loyalty.
Customer satisfaction is board level priority
Most companies today are asking their customers about how happy they are with their products and services. Being customer centric and customer focused is a board level priority. Happy customers means loyal and profitable customers. However, only a handful of the Nordic retailers use customer feedback to customize the shopping experience.
Watching satisfaction scores is like watching the weather
Key performance indicators like Net Promoter Score (NPS) is an important measurement for how successful an organization is with customer interactions. However, tracking NPS is like watching the temperature outside your window, but there is no way to change the weather. The customer score is only a measure of the satisfaction of you customers, it does not tell you what to do.
Get customer attention by really listening to them
When combining your customer feedback with point of sales data, you can better understand your customers and individualize the customer communication and offering. Most retailers have a high expenditure just to keep the sales volume at level. By analyzing customer feedback, several retailers get campaign response rates up with more than 50% and reduce customer churn drastically.
The world’s top ten retailers are all taking advantage of the combination of data from multiple sources. Nucleus research reports an average of close to 250% ROI in predictive projects. The road to customer heaven is paved with customer data. What is stopping the Nordic retailers from utilizing their own data? Affecto gets you started.
Ask one extra question and get the knowledge of what to do next
When you ask you customers about your products and services, you get to know their satisfaction level. As an open follow up question, ask what makes your customer happy or not. This way you get to understand problems and issues as well as what is working well. Your customer might be unhappy with your service, prices and car parking, or happy with accessibility and product guidance. With customer feedback, you can identify even seemingly small issues by using artificial intelligence, and handle upcoming problems before they become too big to handle.
Combine customer satisfaction with sales figures to provide an individual service
Blend facts with words and emotions. Using analytics, you are able to communicate with your customers as individuals. Not only do you understand your current customers based on their historical behavior, but you can also give personalized service based on trends, patterns and tendencies in the behavior of other customers in the same segment.
Save time and money and avoid bombing your customers with irrelevant ads. Knowing your client, you can offer an extra radio to the female young mobile customer, you can upsell a service plan to the mid aged parent, or you can target the new Apple product only to those who actually are potential buyers.
Make sure it is profitable for both the customer and the business
Isolating customer satisfaction from customer value is not only ineffective, but also expensive. All retailers have price shoppers that only show up in the stores when the prices are low. The customer lifetime value of a customer relationship is important to maximize the marketing mix. Make sure you only target and upsell to customers that have a good lifetime value.
How to get started with Customer Experience Management
Customer data analytics can reap significant financial rewards for your organization’s sales, marketing and customer service departments. With so much data to contend with, companies often struggle with making sense of information from customers, public records and external databases. Affecto evaluates the newest sales and marketing tools making the process easier for IT managers and sales executives.
Customer experiences include not only interactions through traditional channels, such as purchases, customer service requests and call center communications but also, increasingly, through social CRM channels such as Twitter and Facebook.
To manage the customer experience, Affecto helps companies in need to create a strategy and implement projects that encompasses all customer touch points across the organization.