A recent report was released by Forrester Research, Inc. on the state of customer experience management. Some very fascinating findings but first let’s make sure we’re on the same page about what customer experience management (CEM) is. A relatively new business discipline, customer experience management is the collection of processes a company uses to track, oversee and organize every interaction between a customer and the organization throughout the customer life cycle. The goal of CEM is to optimize interactions from the customer’s perspective and, as a result, foster customer loyalty. Bottom line – managing client experiences not only keeps clients coming back but is a powerful way to differentiate your organization for your competition.
The recent study reveals 4 take aways:
1. Companies have lofty customer experience goal – 90% said that customer experience management was a top strategic priority for the company. So everyone recognizes it is important and a “must do.”
2. Online and Mobile Channels are where it’s at this year – 77% responded that a key objective is to enhance or improve the online experience customers have with the company. 60% plan to add or enhance mobile experiences.
3. While companies are committed to CEM as a strategic priority, overwhelmingly there is a disconnect between this commitment and consistent action. Forrester has a list of 40 practices that define excellence in CEM. When asked how consistently they do each practice, over 50%, and sometimes higher, responded “sporadically, inconsistently or not at all.” (See the link below to read the report and get the list of 40 practices.)
Commitment to consistent action is the key. Respondents top 3 responses to the barriers to creating consistent action were “lack of clear strategy,” “lack of cooperation across the organization,” and “lack of CEM processes.”
4. Budgeting for CEM, while not funded as it should be, is showing increasing signs of being included in annual budgets. The practices typically funded are surveys, client focus groups and employee training programs.
What do we make of these results? It’s clear that CEM is making its way into many organizations as a business discipline, a profession and a branding/marketing tool. It is not yet the “norm” for all businesses so there is still opportunity to capture market share by embracing, fully embracing, CEM practices in organizations. Like any growth wave, the time to seize the opportunity and get ahead of the masses, is before it peaks. You’ve still got time!
Mary Anne and Theresa at Transform, Inc. have been leading client experience management initiative for 10 years. Contact us at info@transforminc.com to learn how we can help your organization catch the wave!
To read the full report, click here.
***** Congratulations goes out to one of our clients, Silberstein Insurance Group, who was recognized as one of the healthiest employers by Baltimore Business Journal. Here’s the article. Rachel D. has been an advocate for SIG for several years and works tirelessly to advocate healthy, smart living. She really deserves this recognition. Congrats Rachel! ****
