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Customer experience management
The document discusses the evolution and importance of customer experience management (CEM) alongside customer relationship management (CRM), highlighting that CEM focuses on how companies perceive customer experiences. It details strategies and technologies involving omni-channel retailing, customer experience analytics, and the significance of feedback mechanisms through social media. Managerial implications emphasize the need for a customer-oriented strategy, effective tools for data collection and analysis, and methods to enhance customer satisfaction and engagement.
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Customer experience management
- 1. CONCEPTS, IMPLEMENTATION &IMPLICATIONS CUSTOMER EXPERIENCE MANAGEMENT Submitted by – Group 3 Alok Kumar Ganapathi Subramanian V Pravas Kumar Sahoo Pradeep Rentapalli
- 2.
- 3. Direct Interactions Indirect Interaction Customer Experience
- 4. Before 80s: Majorlyguesswork 80s: One way interaction 90s: Interactive through loyalty programme and offers 2000s: Cloud technology, more complex Now: Social Media, Mobile devices Customer Relationship Management (CRM)
- 5. • Managing customerinteractions to build brand equity and long-term profitability • For example: Which hotel will you choose to stay? • The one which you went twice before and gives you some discount Or • One of your friends told you about his amazing experience in another hotel Customer Experience Management (CEM)
- 6. CRM ishow a customer looks to a company, while CEM is really how the company looks to the customer. CRM comes after the experience, and CEM works hard on anticipating it. CRM vs CEM
- 7. Conceptual model ofCE – Antecedents and Consequents
- 8. o Differentiation strategybased on service and price no longer sufficient o Firms which focus solely on customer satisfaction and customer loyalty have the best performance In the study mittal et al.(2005), they found that efficient firms with satisfied customers outperformed other firms. o Experience based strategies can be used to improve customer experience CEM Strategies
- 9. CEM & BusinessPerformance *Based on the research by crmguru.com
- 10. Omni-channel Retailing • Combinationof e-retailing and bricks & mortar store
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- 12. Information Systems inOmni-channel Markets
- 13. Technology Enabled EngagementPlatforms • Physical or virtual touch points designed to provide structural support for integration of resources • Ensure customer voice reaches to company • Virtual Assistance • Voice Assistance • Self-Serving Kiosks • Geo Location Services
- 14. Leveraging emerging channelsto enhance self- service Virtual assistants Empowers customers – better servicing experiences without compromising on quality Integrated customer communication mechanism; Self service kiosks Kiosks enable faster processing of data; eg: ATMs Used in areas where is insufficient retail presence
- 15. Social Media &Sentiment Analysis • From personal communication to product/service feedback • Real voice of customer towards certain product • Blogs, online forums, social networking sites such as Facebook, Twitter, Instagram etc. • Important source of information for organizations.
- 16. Customer Experience Analytics •Convert data into business context • Finding bottleneck in user experience • Optimized buyer journey across different channels • User activity, application performance, purchase behavior • Many firms such as IBM, SAS, ORACLE, TCS, INFOSYS are providing customer experience analytics solutions.
- 17. Managerial Implications – Developinga Customer Oriented Strategy • Need to know all customer touch points with the company - systematic approach for collecting customer insight • Identify key touch points & synergies across them • Specify how the customer should experience the company at each touch point • Customer journey map • Blueprint for key touch points
- 18. Managerial Implications – Choosingthe right tools & techniques • Obtaining the right information • Data collection & analysis methodology – • Persistent vs. Periodic vs. Pulsed • Web based vs. direct contact • Single summary metric vs. specific metrics • Integration with other existing systems
- 19. Managerial Implications – Deliveringpersonalized customer delight • Analyze relative importance attributed to different aspects • Analysis of the competitive landscape • Identify the right time, place & method of delivering delight • Customer feedback
- 20. Managerial Implications – Drawinginsights from customer feedback • Identify relevant analysis mechanisms • Make inferences from customer inputs • Generate implementable action plan • Identify obstacles • Evolve strategies to overcome
- 21.
Editor's Notes
- #18 -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
- #19 -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
- #20 -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
- #21 -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
- #22 -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels