Articles / Loyalty / Recommended Reading / Relationship / Value

Seven steps to better customer experience management

Image credit: http://www.kpmg.com/

Image credit: http://www.kpmg.com/

Seven steps to better customer experience management

KPMG

It costs many times more to acquire a new customer than retain an existing one. However, not all customers are created equal. Some require more attention than others, some need guidance from time to time, and some simply do not wish to be disturbed. By gaining insights on needs, preferences, and behavior, customer journeys can be optimized at critical touch points. Consistently delivering positive experiences establishes relationships. Strong relationships help build loyalty and drive growth.

Customer experience management (CEM) focuses on creating differentiated experiences at touch points that customers choose to interact with the company. Focusing on CEM as a strategy helps service delivery capabilities align and adapt to behavioral shifts of the target audience. Benefits realized go well beyond improvements in customer satisfaction and churn. Loyal customers buy more and share experiences with friends and family.

They also help generate incremental sales through recommendations on social and professional networks. In today’s business climate, rapid innovation and fierce competition makes it harder for telecommunications companies to outpace rivals on a product basis alone. With new features quickly copied and introduced to market, the quality of the customer experience becomes paramount as it is an intangible that can be imitated but not commoditized. In some instances, the quality of experience can even help justify premium pricing.

(read more – download PDF)

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