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What is CXM (Customer Experience Management)? Definition, Purpose, and Assessment

8 August 2022 - iSystem Asia
customer experience management

All customers want to have a pleasant experience when buying all products. And, every company would also want its customers to get the best service in order to get loyal customers. If the customer has had a satisfying service experience, of course this will be a good thing to build loyalty to the company.

One way to achieve this goal is to provide a good customer experience to customers. Here, iSystem Asia will explain CXM or customer experience management, its objectives, and examples.

What is CXM (Customer Experience Management)?

Every company or business must use what is called customer experience because it greatly affects the success of the business in the long term. As a definition, CX (customer experience) is the customer experience when interacting with your business. In other words, all business processes can create what is called a customer experience, such as advertising, and purchasing products.

All of these stages should give good results in increasing customer loyalty to your business.

Meanwhile, CXM which stands for customer experience management, is a practice that understands customers so that they can meet customer needs so that they will get customer loyalty and satisfaction for your business.

This CXM practice is made to be able to find out who the customers are so that the business that is run can provide personalized customer experience services. To obtain data, the company must carry out routine checks on the results of all business marketing.

Purpose of CXM (Customer Experience Management)

CXM has several goals depending on your business needs, but customer experience management has the main goal of retaining customers. Broadly speaking, the goal of CXM is to increase the market coverage of the resulting business products. The wider the scope of the business market, the greater the good impression from customers, so that the customer experience management business will run well. Here are the goals of CXM (customer experience management):

1. Increase Customer Loyalty

2. Improve Customer Satisfactio

3. Recommendations and Positive Reviews

Read Also: Sales CRM Software With Low-code Platform | iSystem Asia

How to Assess CXM (Customer Experience Management) in Your Business

1. Analyze results from customer surveys

Surveys of customer satisfaction are ce  rtainly not new in business. Many companies have done this analysis to find out what customers think about the company's business products or services.

There are many different survey methods that can be done to find potential customers to recommend the company's business products to the general public. The results of the survey can be used to improve the quality of the products or services provided to customers.

2. Create forums with customers for new product suggestions or new features

This can be applied to your business. By creating a forum to discuss with customers about suggestions for new features or products that customers want. This way, your business will understand what makes customers feel dissatisfied.

3. Analyze reports from customer service

Every customer who is not satisfied with the product of a business will certainly make a complaint through the customer service department. By analyzing reports from customer service you will find out product problems that often occur by customers.

4. Pay attention to the customer churn rate

In simple terms, the churn rate is the percentage of consumers who unsubscribe from a product or service compared to the total number of customers over several periods.

Paying attention to this churn rate can be a way to measure customer experience if your business has a subscription system like the one implemented in apps or newspapers.

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The Importance of CXM (Customer Experience Management) for Business

By using CXM (Customer Experience Management), a company will generate quality prospects, convert prospects into customers, and retain customers. Here's why CXM is important for business.

1. Can understand customers

The better a company's ability to target its products to the right target customers, the better its sales chances.For that, you can implement customer experience management to be able to understand customer needs. Getting customers and keeping customers requires personalized service.

2. Gain loyalty and retention

All customers want to feel understood and appreciated, if your business implements customer experience management, customers will stay with your business and even make repeat purchases (retention).

3. Maintaining competitive advantage

Using customer experience management will improve the company's overall operational performance. There will be a strong relationship with increased customer satisfaction and business sales. Companies that can provide good service to customers will be better than companies that do not implement customer experience management.

4. Help make decisions

Customer experience management can help companies make better decisions. Information from customer behavior, thoughts, and emotions can help increase the visibility of decisions. The company will be greatly helped if it can understand customer habits in making purchases.

Has Your Business Implemented Customer Experience Management?

As explained above, customer experience management is very important for companies for business continuity and increasing business revenue.

But don't worry, iSystem Asia provides services for Customer Experience Management that will help your company to gain customer loyalty and increase business revenue. iSystem Asia also provides several other services such as CRM and BPM Technology, Consulting and Advisory, Training and Certification. For more information, please contact the person below.

Read Also: Your Business Will Benefit From BPM Software! This is the reason

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About Author

iSystem Asia

System Asia is a Management and Technology Consulting Company, focusing on Customer Relationship Management (CRM), Customer Experience Management (CX) and Business Process Management (BPM). Our services range from training, certification, consulting and system implementation.
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