Investigating Customer Experience to Improve Performance
Industry Segment: Banking, Financial Services, Retail, Internet
Ideal for: Companies having multiple customer touchpoints
Purpose: Automation Practice of understanding customer feedback.
Customer experience management combines technology, strategy, and resources to improve how the customer experiences your brand. This leads to improved customer satisfaction and loyalty. Customer experience management software pulls together and analyzes customer feedback data to provide a single, complete view of the customers.
Let Happy customers bring more customers
There are many ways to measure the effect of your customer experience efforts. Both Net Promoter Score® (NPS) and customer experience surveys are useful ways to understand how your customers feel about you. But getting structured feedback and NPS is a problem.
CX tools for NPS and Loyalty
Measuring individual customer satisfaction metrics like NPS and CSAT is easy. Determining what’s driving those metrics is hard. Most organizations track the performance of individual touchpoints (e.g., website, call center, in-store) but don’t measure customer satisfaction with end-to-end journeys (e.g., opening an account, resolving a problem) that cross multiple touchpoints. Customer Experience Solutions solves this problem by linking top-line metrics to customer journeys. We help companies improve their most important journeys and address feedback in real-time, transforming the entire customer experience.
Customer experience (CX) is the product of an interaction between an organization and a customer over the duration of their relationship. This interaction is made up of three parts: the customer journey, the brand touchpoints the customer interacts with, and the environments the customer experiences (including digital environment) during their experience. A good customer experience means that the individual’s experience during all points of contact matches the individual’s expectations.
Customer experience implies customer involvement at different levels – such as rational, emotional, sensorial, physical, and spiritual. Customers respond diversely to direct and indirect contact with a company. Direct contact usually occurs when the purchase or use is initiated by the customer. Indirect contact often involves advertising, news reports, unplanned encounters with sales representatives, word-of-mouth recommendations or criticisms.
Customer experience encompasses every aspect of a company’s offering—the quality of customer care, of course, but also advertising, packaging, product and service features, ease of use, and reliability. Creating direct relationships in the place where customers buy, use and receive services by a business intended for customers such as instore or face to face contact with the customer which could be seen through interacting with the customer through the retail staff. We then have indirect relationships which can take the form of unexpected interactions through a company’s product representative, certain services or brands and positive recommendations – or it could even take the form of “criticism, advertising, news, reports and many more along that line.
Customer experience is created by the contribution of not only the customers’ values but also by the contribution of the company providing the experience
10-15% revenue growth
25% reduction in churn
20% uplift in customer conversion