Primer
The customer experience is the central pillar of the business on which all other functions are hinged. And if it is that important, it has to be nurtured, managed, groomed, and instituted to let your business bloom. A customer experience software does all that—it measures customers experiences through feedback and leverages it to improve key business metrics. It generates treasure troves of data, which can be processed through the right analytical tool to generate key findings that not only help in improving customer experience but also in making better business decisions. Thus, it creates a virtuous cycle of taking customer feedback and providing a better customer experience, which rolls your business forward.
How can CX management software improve your business?
Here I am providing my take on how customer experience management (CEM) software can help your business.
Make customer satisfaction your core competency.
Earlier, customers were considered customers; then they became guests; and now they are owners. Globally, businesses have realized that prudence lies in keeping your customers happy because they give you traction. It’s soon going to surpass products and services as key brand differentiators. So, make yourself a customer-centric organization—CEM software helps you with that.
Create personalized experiences for customers.
Research has proven that the brands that are providing personalized experiences for customers are seeing faster turnover, up to 6 to 10 times faster than those who aren’t. A customer experience software platform provides a way to communicate with your customers, exchange ideas, and empathize—all at scale to improve customer engagement. For customers: engage, capture, and win.
Provide a better omnichannel customer experience.
Businesses reach customers where they are—on emails, websites, social media, mobile, apps, and more. In this context, it is important to create a better omnichannel customer experience so that customers feel the same nice experience across channels. This way, they manage to consistently keep customers happy and win their loyalty.
Let the customers drive interactions.
Customers are driving interactions; they decide the time, the topic, and the channels. As a company, you need to adapt to the customers’ wishes, and those who can provide a standard level of communication in terms of quality and approachability will ultimately win. So, increase your availability across a wide time range, across channels, and across topics to be a favorite of customers.
Leverage customer loyalty.
It costs five times more to acquire a new customer than to retain an existing one; also, a 10% increase in customer retention can increase the company’s revenue by 30%. This signifies that by retaining customers, you can boost your revenue significantly against all odds. The best CX system identifies, nurtures, and aligns loyal customers to increase sales.
Sell more through whomever you sell.
Today’s customer is smart—it differentiates between traditional marketing and new, innovative marketing, so it will give more weightage to an unbiased, neutral, and well-wisher opinion than to that of a company’s representative. Realizing this truth, more and more companies are making their customers their brand ambassadors. A better digital customer experience solution will let you use ‘word of mouth’ marketing to increase market share.
Retain customers
Research has shown that an existing customer spends around 70% more than a new customer. Also, customer churn costs businesses billions of dollars across the globe. Thus, retaining customers is the best strategy to increase sales. An experience management (XM) software built around this notion identifies and addresses customer risks, takes appropriate steps to fix the problem before it spirals out of control, and ultimately increases sales.
Stay updated on customers’ tastes.
Customers’ tastes change—aand businesses have known this from the beginning; that’s why they would invest millions in big, costly, leviathan research projects to gain insight into customer preference. The problem with this traditional approach is that it lacks agility, the insight is slow to assimilate, and the information is based on historical data. The best CX solutions with blended analytics overcome all these problems. It keeps you updated on customers’ tastes.
WovVXM—the game changer
My all-time favorite with regard to customer experience management software is WovVXM, a cloud-based CEM software that has seen numerous implementations across locations.
Unique uses of WovVXM
- Provide actionable insight by gathering true feedback.
- Provide measurable parameters like NPS, CES, and CSAT and facilitate actions on them.
- Identify and address existing and potential problems through feedback.
- Get a pulse on changing customers’ needs and expectations.
- Establish meaningful interactions with customers.
- Create a holistic, overarching brand image by providing a consistent customer experience across touchpoints.
- Predict future requirements.
- improve the overall brand image.
- Create synergy by facilitating all stakeholders.
Key features of WovVXM
| CREATE | Create DIY survey forms easily across devices Do branding by customizing the forms by placing your logo and embedding your theme in the feedback forms. Use multiple languages to reach an international audience and take them onboard. 30+ question types to let you ask the right question Pre-defined survey templates to save time and labor and get expert advice. |
| Capture | feedback from any stakeholder, be it a customer, employee, or partner. Reach all customers and touch the right nerve by sharing feedback links across channels. Share a QR code for easy and instant feedback collection. Customize feedback link settings, which include IP restriction, one response per customer, expiration date, and more. |
| ANALYZE | Calculate parameters like NPS, CSAT, and CES. Do word cloud and sentiment analysis. Compare responses across locations and methods of feedback collection. |
Conclusion
In this blog, I took you through the benefits of customer experience management software and how it can be used to transform your business. Keeping the features and use cases of an ideal CEM in mind, I also introduced you to WovVXM, a cloud-based, powerful CEM software that is making waves in the experience management field. Now that you know the benefits of CEM and have been given the name of an advanced CEM software, you can leverage these to take your business forward by reading and analyzing customer sentiments.
