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  • 15 January 2019 21:40

What is Customer Experience Management? How It Matters?

Global Customer Experience Management Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

A combination of technology, strategy, and resources to improve customer experiences towards a brand which helps to serve customer better and gain their satisfaction and loyalty is known as customer experience management. It includes customer interaction with customer service, website visit or even customer experience with product installation instructions, performance of product and the quality of service from all parties including in-house and dealer supplied services. Here, customer experience management software pulls together and analyzes customer feedback data to provide a single, complete view of the customer. The customer experience management system approach enables ability to understand and improve the customer experience across the entire customer journey creating the consistency, increases satisfaction scores, saves costs as the teams needs to manage a single system which provides internal consistency as the organization measures experience using the same metrics. It also provides clarity about customer issues across various product lines such as savings, lending, credit, investment, insurance channels such as phone, web, in person at branch and all market segments. Provides visibility of the areas having a positive and negative impact on customer satisfaction.

Increasing customer centric marketing activities is a key factor attributed to the growing demand of customer experience management market. However, the need to create a constant multi-channel brand experience is a challenging factor to the market growth in the near feature. As customers are involved in endless interaction with a brand through various ways such as online platform, customer service, in person, and many more. It is essential to maintain brand consistency at every point of interaction. In addition, random user feedback coupled with rise of substitute technologies to analyze competitive landscape are some of the major challenges hampering the growth of the global customer experience management market. The goal of customer experience management activities is to refine the customer journey through each touchpoint. This leads to increased revenue and happier customers.

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