05 Aug 5 Top CEO Motivations to Address Customer Experience Management
Customer Experience Management (CEM) addresses the radical shift in consumer behaviour caused by new technologies. CEM helps business compete in this new landscape. What are the top challenges faced by CEOs better convert and serve their customers online? What are the top 5 reasons for CEOs to engage in CEM?
Gartner defines Customer Experience Management (CEM) as “the practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus, increase customer satisfaction, loyalty and advocacy.”
New Pressures of Customer Expectations
New technologies have radically changed customer behaviour. Today, consumers have many more sources of information online to evaluate their purchases. Shifting customer expectations pressure businesses to compete in new ways. When asking CEOs what are the top pressures they can address with an CEM program, they answer:
- 54% Customers are empowered with a wealth of information on many competitive products and services
- 33% Customers expect a consistent experience across multiple touch-points.
- 28% Customers expect faster issue resolution, whether through self-service or through an agent.
- 27% Proliferation of new customer engagement channels due to technological advancement.
Integrated Customer Engagement platforms like Agendize are focused on solving those challenges.
Reasons for Doing CEM
CEOs report 5 reasons to adopt Customer Engagement Management strategies:
– 94% Customer retention
– 90% Customer satisfaction
– 85% Increase revenue
– 84% Customer conversion
– 83% Brand awareness & loyalty
Do you think CEM could be the next investment for you business? What CEM strategy would you use? We’d like to read your stories.
– Gartner IT Glossary, 2014. Definition of CEM.
– Aberdeen, 2014. State of the CEM Market 2014: It’s All About Better Use of Customer Data.