Why is CXM so important?
One of the top CXM experts, Esteban Kolsky of thinkJar, has compiled research on the matter, a host of stats to be exact, that speak to why CXM really does matter. Here are five of his fifty that show the driving reason for why we need to move to CXM—essentially that customers, not companies, should be driving the way you manage your customers.
Moving from customer experience to the importance of CXM…
The Huffington Post highlights one of the most popular definitions of CXM from CXM expert and bestselling author of Selling CRM at the Speed of Light, Paul Greenberg, “Customer Experience Management (CXM) is a business science that has the purpose of determining the strategy and programs that can make the customer feel good enough about the company to want to continue to do business with the company.”
Cumulative Experience not Touchpoints
We’ve all heard the buzz about the growing number of touchpoints that a given customer now must juggle as they interact with a company—and how to optimize those early on, how to not overwhelm the customer, and how selective as a result, the average consumer has become when it comes to which brands they will engage with.
But the talk about touchpoints needs to stop. At least, it needs to go deeper, and much deeper. Yes, business executives understand that the customer experience is crucial but is that experience, their experience as they interact with your brand priority? And what ways are you giving them to interact? That’s what CXM is all about.
Here are a couple questions that can help you determine that.
The Harvard Business Review in the Truth about Customer Experience sums up the importance of focusing more strategically on customer experience (which we are using to drive the importance of harnessing the shift to CXM) by tying it to the results that it delivers:
In our research and consulting on customer journeys, we’ve found that organizations able to skillfully manage the entire experience reap enormous rewards: enhanced customer satisfaction, reduced churn, increased revenue, and greater employee satisfaction. They also discover more-effective ways to collaborate across functions and levels, a process that delivers gains throughout the company.
We know that you likely have a boatload of questions, like for one, how does this look in my organization? Great! We were hopeful you’d come to that. Why not tell us what you want us to know and we can go from there. Click here to set up your 35. Or keep reading in our series, because the next thing we talk about are some real life examples of CXM implementations in organizations big and small.