In today’s hyper-competitive marketplace, a brand that wants to stand out from the crowd must think beyond CRM and embrace customer experience as a strategy, not a tool. That isn’t to say CRM doesn’t have its purpose and benefits—the data collected through CRM is a key factor for developing a successful Customer Experience (CX) strategy.
So you’ve put a lot of money into CRM and have captured a significant amount of valuable customer information. But how efficiently and ambitiously are you using this insight and analysis of your customers? How well does your customer understand your branding?
Using CRM to Develop Your CEM Strategy
CRM collects a wealth of data from various channels related to your branding, such as your website or social media pages. The data gained can help you better understand how the customer interacts with your business. These interactions can also tell you something about the customer’s perception of your business.
Using customer interaction metrics, you can delve deeper into the customer journey and determine how to better act with customers in order to meet their expectations and fulfill their needs. For example, a customer’s interaction with customer service may show poor performance in specific areas, such as service response times.
Recognizing and building upon customer’s perception of your branding is the goal of customer experience management (CEM). Using the data you’ve acquired, you can further enhance the customer experience at each touchpoint along the customer journey map.
Why CEM is Important
Consumer habits have changed drastically within the past few years. Brand success is built on delivering outstanding CX. Consider that nearly 90% of buyers are willing to pay more for a product or service if they receive great customer experience throughout their customer journey.
Brands that are lacking at serving their customer’s needs, or providing good customer service will find themselves losing customers to more nimble companies. That’s because it’s customer experience that shoppers find most important today when choosing their preferred brand. Customer service also plays a crucial role in influencing brand loyalty.
To that end, understanding how your customers perceive your brand and how best to cater to their needs by understanding their pain points and expectations is a crucial factor in differentiating yourself from your competitors and ultimately determining your success. Since CX has become more of a priority than pricing or product for many brands, and more than two-thirds of companies compete primarily on customer experience, you’ve got to strive to be at the top of your CX game in your industry.
- How you greet your customers when they enter a brick and mortar location
- How quickly you respond to a request for customer service
- Whether you offer omnichannel support for customer interaction
- How quickly a visitor to your website can find the information they are seeking
- How often you engage customers on social media platforms
These are just a few of the things that a customer will often evaluate while on their customer journey. But each has the potential to either improve brand loyalty and influence a purchase or drive a customer to a competitor.
Remember, thinking beyond CRM doesn’t mean doing without CRM or putting fewer resources into it. Rather, CRM and CEM can work in conjunction with one another to build a robust CX strategy foundation.
Quick tip - while a CX strategy may seem like a massive undertaking, robust tools, such as easy remote services like virtual calls, appointment booking, and easy online payments through chat, can have tremendous upsides for your customers and your bottom line. Best of all, implementing them on your website or app is easier than you'd think.
Ultimately, both CRM and CX give you essential keys to understanding your customers better. When utilized correctly and effectively, you can take that knowledge and turn it into something actionable that builds brand loyalty and improves customer retention.