What is customer experience management?
- Customer experience management, often called CXM or CEM, is a system of marketing
- strategies and technologies that focus on customer engagement, satisfaction, and experience. A
- CXM mindset prioritizes the orchestration and personalization of the entire end-to-end customer
- experience and helps to do it at scale, on any channel, in real-time. CXM is often confused with
- customer relationship management, or CRM, due to the similarity that they have in some basic
- functionality. While there is some overlap, CXM isn’t a mere renaming of traditional CRM.
- Where CRM mostly deals with optimizing the internal processes of a business, CXM offers an
- even more customer-centric approach in several ways—with new technologies, as well as
- processes, strategies, and design. CXM differs from traditional CRM in the technology itself: while
- CRMs gather data through manual or batch entry, a true CXM will enable a real-time flow of data
- to offer deeper insights into customer preferences and behavior. A company that wants to
- become more customer-centric uses CXM to put processes in place to track, oversee, and plan
- interactions and engagements with customers.
- Customer experience management helps to achieve a deeper understanding of customers by
- providing an enhanced view of customer behaviors and preferences and allowing companies to
- build personalized experiences. It drives loyalty and retention by delivering seamless customer
- journeys and cultivating deeper, lasting relationships with customers through intelligent service,
- product recommendations, and loyalty incentives. It maintains a competitive edge by increasing
- the win rate of offers and lowering service costs. It measures the success of initiatives by
- gathering and interpreting much larger volumes of data, which helps to make more informed,
- customer-centric business decisions.
- Effective customer experience management is more than just good optics or good PR. By
- centralizing your customers’ experiences and making technology feel more human, you create
- win-win scenarios for you and your customers. Customer experience ______ (become) a critical
- differentiator for all kinds of businesses in the competitive, hyperconnected global marketplace.
- While the result for a business might be seen in lead generation, conversions, or long-term brand
- loyalty, the customer also comes out a winner with rich, personalized experiences, increased
- satisfaction, and a rewarding relationship with the brand.
(Available at: www.dynamics.microsoft.com/en-us/marketing/what-is-customer-experience-management-cxm/ – text specially adapted for this test).