How to Select the Best Customer Experience Management Software for Your Business
It is an established fact that satisfied customers bring more customers. When customers have pleasant experiences with a business, the chances of a return visit are great. There is also the possibility that existing customers would encourage family and friends to purchase from the business. This ripple effect of customer referral pays off well for businesses that seek to boost sales and maximize profits. Maintaining accurate records of all customer interactions can be time consuming and bulky and often difficult to manage. A solution to this challenge is to implement technology that can perform all customer-related activities in one location. To effectively track customer interactions, businesses require an automated system that will maintain organized records of customer profiles and accounts, purchases, feedback, etc. Such a system is referred to as Customer Experience Management (CEM) software. CEM software is a combination of select applications that help businesses identify the needs, preferences, and expectations of each customer.
The complexity of CEM software is dependent on the size of a business and what the business wants to accomplish. The software can be simplified with only the basic features for communicating with customers or more elaborate with comprehensive features that integrate with other existing applications. However, the overall reason why businesses invest in CEM software is to make the most of customers’ whole experience and build loyalty. Throughout a customer’s lifecycle, businesses use CEM software to gain access to real time information on customers’ likes and dislikes. Businesses also use CEM software to communicate with customers through various methods such as emails, live chat, and social media. Businesses use CEM software to ensure customers are the main focus and to ensure customers remain loyal to the product or service. The aim is to meet and exceed customers’ expectations by creating a consistent and rewarding experience.
What is Customer Experience Management Software
Customer Experience Management is an evolving set of practices, technologies, partnerships that, collectively enable organizations to advocate, offer, improve and optimize the Customer Journey through excellent customer experiences. CEM provide insight into customer interactions and optimize them to drive loyalty and improve customer lifetime value. CEM Software helps organizations to understand the customer needs and desires, and providea more meaningful and engaging customer experience across channels.
What are the Features of Customer Experience Management Software
CEM software aims at improving sales and gaining better profitability. CEM software can be fitted with customized applications that businesses can personalize or streamline to satisfy specific requirements. The features of CEM include Ticket management, Managing customers, Managing inventory, Partnership and teamwork, Strong integrations, Customer self-service, and Reporting and analytics.
- Map Customer Journey and Managing customers: Provide 360 degree feedback on the customer journey. Allows businesses to identify, view and track customers and provides information on customer details on the business’ contacts database.
- Design, Optimize and Test CX strategy: Ability to build, design campaigns and execute omni-channel customer experience strategies. Optimize and test the interaction with recommendations for the next best action based on customer data and business goals.
- Ticket management: Businesses keep track of customers’ conversations and converts them into tickets. This feature of CEM offers visibility and prevents customers from going unnoticed or neglected.
- Managing inventory: Customers can easily search for and keep track of products which will be integrated in a products database. CEM allows businesses to view available products associated with customers and track their issues and link requests to tickets.
- Partnership and teamwork: businesses can collaborate with members of the team using communication tools available in the software package that allows individuals to allocate tasks and monitor progress.
- Integrate people, processes and systems : Teamwork and a seamless interaction with current business systems avoid duplication of efforts and in this way businesses can improve relationships and efficiency within the teams by using CEM software.
- Customer self-service: This service is one in which customers can obtain information electronically to access and perform routine tasks on their own, 24 hours a day. This service is readily available by using various apps, Wiki and interactive voice response.
- Reporting and analytics: This is a holistic approach that helps businesses to first measure and then understand what customers think about their experiences. CEM software analytically measures and reports on how the networks and devices are performing and how and where customers use the service.
What are the Types of Customer Experience Management Software
- A/B testing: Allows businesses to create two versions of an app screen or webpage and then do a comparison to determine which one performs better.
- In-page web analytics: Analyzes visitor behavior within a webpage and helps businesses identify any technical glitches that need to be fixed in order to maximize website usability or conversion rate.
- Content management: Comprises a set of tools and processes that supports the creation, modification, and retrieval of digital content which makes business can use to manage customer experience.
- Help desk/self-service: Provides customers with information associated with a business’ products and services and helps customer troubleshoot when technical issues arise.
- Survey creation: Provides built-in survey tools that allow businesses to obtain customer feedback on various stages of the customer lifecycle which will be used to evaluate business performance.
What are the Key Performance Indicators (KPI's) of Customer Experience Management Software
- Email backlog: Measures the number of unanswered emails sent by potential and existing customers within a specific time frame and the time taken to respond to the emails
- Hit rate: Measures the number of products that are sold vs. the number of sales calls received during a specific period
- Number of customer complaints: Focuses on the number of complaints made by customers during a specific period
- Percentage of answered service requests: Measures the number of customer requests that are answered against the total number of incoming requests in a given timeframe
What are the Benefits of Customer Experience Management Software
A primary attraction of CEM solutions is their ability to combine numerous processes into a single system. CEM software includes many useful features including Interaction in real time, Communication tools, Attaining customer loyalty, Obtaining business referrals, Monitoring, Budgeting, Sharing documents, and Managing risks and forecasting.
- Interaction in real time: CEM software provides great communication tools which allow real time discussions with customers and business representatives.
- Communication tools: Customers are able to communicate both internally and externally concerning products and services, be kept up to date on latest developments, and obtain immediate responses to issues.
- Attaining Customer Loyalty: CEM software shows businesses how to recognize customers require and help provide an enjoyable experience that enhances their satisfaction and makes them remain loyal.
- Obtaining Business Referrals: Businesses benefit from CEM software which drives loyal customers to share experiences and satisfaction with others and increase referral rates.
- Monitoring: Businesses can use CEM software to track the progress of work, highlighting status of tasks and monitor whether or not things can be completed in a timely manner.
- Budgeting: Managing cost is of paramount importance for any business, and CEM software includes tools which allow the company to forecast.
- Sharing Documents: Large businesses may require significant reporting, and CEM software contains tools that allow departments to edit, update and share reports, while maintaining transparency.
- Analytics and reporting:CEM software creates statistical reports that businesses can use to assess customer satisfaction and identify new strategies to attract and retain customers.
What are the Latest trends in Customer Experience Management Software
- Internet of Things (IoT): Businesses will be able to remotely monitor and/or control a wide range of physical devices via network connectivity. This feature will allow interconnected devices to collect and share data. Businesses will benefit by providing greater access to customer-related data that will help improve customers’ experiences.
- Chatbots for self-service: A significant increase in the number of messenger app users in recent times makes this feature a win-win for any business. Chatbots focuses on optimizing customers’ experience by replacing lengthy response times with real time interactions via a chat interface. Chatbots keeps track of customers’ actions to guide conversations with customers. Finally, Chatbots can help businesses save money since less time is spent chatting with an employee.
How to choose the right Customer Experience Management Software
Businesses should conduct thorough research when selecting CEM software to determine which is most appropriate for their needs. Factors business should consider include Communication integration, Data integration, and Business Size Compatibility. The software should be able to integrate easily with existing applications and should match the size of the business.
- Communication Integration: CEM software should integrate well with communication methods including social media networks, telephone, and email.
- Data Integration: CEM software should be able to easily integrate with a business’ existing customer database and customer relationship management (CRM) platform.
- Business Size Compatibility: Large businesses require a robust, comprehensive platform with lots of features that will help manage the complexity of various departments and possibly locations. Midsize businesses can opt for less comprehensive CEM software that focuses on customer interactions and quickly highlights internal challenges that negatively impact customer experience. Small businesses can consider software that help with the implementation of basic applications to monitor live chat and email discussions or has built-in surveys to obtain customer feedback.
Here are the trending and the top rated Customer Experience Management Software for you to consider in your selection process:
You can also review the Top Customer Experience Management Software.
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