Is Customer Experience Management (CEM) a Fix to Decreasing Customer Loyalty?
The increasing birth of amazing innovations has empowered customers so much that they can do and undo within seconds…
Customers now have hundreds of free resources in handy to either favor your business or badmouth it. Today’s customer is social and equipped with more information about your business or competitors than you could ever imagine.
From social media groups to forums, customers interact with other customers about specific products and services. Moreso, since new businesses are cropping up almost everyday; customers have more options today than ever before. As a result, the best your marketing drive and adverts can do is to land new customers into your shopping cart but can’t guarantee customer loyalty.
Customer loyalty is determined by customer experience (which is the product of an interaction between a business and a customer over the duration of their relationship).
While most companies are busy spending significant fraction of their revenue on sales promotion and adverts, smart companies focus more on customer experience management (CEM).
Customer experience management is an overlooked (yet inevitable) aspect of Customer Relationship Management (CRM). Whilst CRM is revenue centric, customer experience management is customer centric. Funny enough, CEM is far cheaper and more rewarding than any marketing strategy you could think of. Think about it, would you rather try a brand because of a TV commercial or a word of mouth from a friend who has tried the brand?
In time past, customers make decision about products or services based on price, quality, quantity, and promised gratifications but today, their decisions are influenced more by perceptions and word-of-mouth. Customer’s perception about a brand is greatly influenced by his/her experience with such brand and other people’s opinion (word- of-mouth).
Customer satisfaction is more complex now than it was some decades ago because customers’ expectations are almost impossible. The expression “different strokes for different folks” perfectly describes the challenge businesses face as regard to customer satisfaction…
Although, customer satisfaction may be very challenging today (given the unrealistic expectations of so called “social customers”) but with effective customer experience management you can transform most of your customers into advocates, and that is the most reliable remedy to declining customer loyalty.
In subsequent posts, we will share tips and links to help you improve customer experience (CX) and brand value. Please, share your thoughts about this post via the comment box below. Also help share this post on your Facebook timeline, thanks.