Gartner defines customer experience management (CEM) as “the practice of using customer insight to design and execute a cross-functional CX strategy that increases satisfaction, loyalty and advocacy.” In other words, CEM is a set of processes that companies use to track, manage and organize every interaction with customers during the customer lifecycle, starting from customer insights. Customer experience management aims to improve the interactions with customers and promote customer loyalty at the same time.
Efficient customer experience management requires a complete view of customer interactions that includes both traditional channels, such as phone calls and face-to- face meetings and communications that come through the website, from live chat or sessions withchatbots and from social media. These channels create unstructured data. This means that companies must be able to manage data from different sources in order to extract valuable insight with speed and precision and integrate them with existing customer data.
Combining different data from different sources can be challenging. Using cognitive computing, companies can combine all of their customer information and use it to provide a personalized customer service.
Why customer experience management is important
Customer experience management is about knowing your customers so well that you can provide personalized experiences; this has become a critical requirement in today’s competitive and connected marketplace. Here are some of the ways that companies can benefit from implementing customer experience management software:
- Increased revenues thanks to deeper knowledge of your customers allowing you to deliver more relevant offers and personalized experiences.
- Improved customer loyalty through valuable and personalized interactions.
- Significant costs saving by reducing customer churn.
- More effective and faster decision making.
By analyzing structured and unstructured data, companies can understand customer needs deeply, leveraging customer opinion to for an even more targeted, customized offer.
Customer experience management powered by artificial intelligence
Communicating with customers requires a multi-channel strategy to meet their needs anytime and on any device. However, the key to providing a relevant customer experience is a clear understanding of what the customer says in his own language and in the proper context. Using artificial intelligence tools, companies can gain insights and data from multiple and previously un-mined sources.
With a complete view of the customer life cycle, companies can offer relevant products and services, access to the right information when they need it and provide a better customer experience.With a full understanding of what customers are saying and how they say it (captured from feedback, opinions and sentiment in internal and external customer communications), artificial intelligence gives you the opportunity to more effectively provide a targeted customer experience.