TechDogs-"What The Heck Is A Customer Experience Management Software?"

Marketing Technology

What The Heck Is A Customer Experience Management Software?

By TechDogs Editorial Team

TechDogs
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Overview

Sometimes you need to take a step back and look at the bigger picture. More often than not, you'd be surprised at what you see. When it comes to understanding your customers better, nothing allows you to get a better perspective than Customer Experience Management (CXM or CEM) Software. It helps you design and react to customer interactions to meet or exceed customer expectations and thus, increase customer satisfaction, loyalty and advocacy. It lets you look at the bigger picture wherein you not only monitor your customer's journey but also gain insights to improve it. Enough with the praise – let's get down to the business?

Customer Experience Management (CXM) is an essential aspect for every business. Read on to find out how you can use Customer Experience Management Software to make your customers happy and satisfied with your offering.
TechDogs-Poor CX Should Die Hard!-"What The Heck Is A Customer Experience Management Software?"
“Individually we are one drop, together we are an ocean.”

This famous saying by Ryunosuke Satoro holds value in almost every aspect of life that you can imagine. Take the Avengers in Endgame, for example; all of them were pretty strong on their own but could save the world only when they fought Thanos together. Or we take all the customer management tools and software that we've been using to improve our customer experience. Individually, they're all great tools but together, they have the potential to do so much more.

This potential is reached when you invest in Customer Experience Management Software. Now we know what you might be thinking; I already have a Customer Relationship Management (CRM) software and even a Contact Center, then why do I need to add another one to the list?

The answer is because we are in the Endgame now! Just kidding! However, to reach the Endgame of customer experience, you need Customer Experience Management Software to streamline all the information derived from these tools.

Before you scratch your head any further, here's what Customer Experience Management (CXM) Software is.


What Is Customer Experience Management Software?


According to Gartner, Customer Experience Management (CXM) is “the practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus, increase customer satisfaction, loyalty and advocacy.”

Let us explain that the TechDogs way:

CEM Software allows you to manage and organize every customer interaction with your brand across their buying journey. Basically, your customers become Keanu Reeves from the Matrix, wherein their journey with your brand is constantly monitored through different means.

This means that you can monitor all the information about your customer in one place, update it in real-time and share it with different teams to improve their interaction with the customer. When you know how the customer has interacted with the brand in the past, based on their behavior (contact, purchase, etc.) and their feedback, you can know what part of the customer cycle you need to work on to improve their experience. A CEM tool lets you record, analyze and make use of this information.

Before diving into what the software entails, let's talk about how it came into being.


History And Evolution Of Customer Experience Management Software


The history of CEM can be traced back to World War II. Post the war; the world witnessed a consumerism boom. It was then that market research began to truly emerge as a field of its own because companies no longer wanted to push information to their customers but actually wanted to understand their customer needs and deliver based on that.

Invariably, customer-focused initiatives rose to prominence by the mid-1980s and were as hit as every Harry Potter movie. A young analyst at Gartner, Esteban Kolsky, then decided to write about customer feedback systems, which soon became known as Enterprise Feedback Management (EFM) which later became a part of company call centers.

It was all hunky-dory until digitalization came in and took the world by storm. The number of touchpoints that a customer could have with a brand multiplied. Customers could reach you via social media, your website blog, forums, YouTube and many other digital channels. Thus, the need arose for an integrated software to manage all of these and Customer Experience Management Software was brought into the market.
 

How Does A Customer Experience Management Software Work?


Customer Experience Management Software builds an end-to-end mechanism to boost customer engagement. First, it collects all the possible information about your customer. It collates every ounce of data from customer feedback and other tools your business has, including CRM, Contact Center data and more. Then it analyses this information and helps you in devising a better strategy.

Later, it collects more data to understand the effectiveness of this strategy and the cycle goes on.
Zendesk, StoryPulse, Zonka Feedback and Moxtra are some of the leading players excelling in helping you build better customer experiences. They allow you to solve tickets, respond to feedback and get feedback metrics almost instantly.
 

Why Do Businesses Need CEM Software?


Did you know that 9 out of 10 of your customers will pay more if that ensures a good customer experience? Customers value how your brand makes them feel and how convenient it is to engage with your brand. So, investing in customer experience through CEM Software allows you to gain their trust and loyalty. As a business, you need a CEM to ensure that every personalized experience interaction the customer has, builds a stronger relationship between the brand and the customer. Through CEM, a business gets three primary benefits: improved customer satisfaction, improved customer retention and better cross-selling & upselling.

TechDogs-"Why Do Businesses Need CEM Software?"-2D Image Addressing The Reasons That Can Positively Impact The Bottom Line Revenue
In addition to that, a happy and satisfied customer is likely to become an advocate of the brand. After all, who doesn't like talking about the brand they love. We're all Peraltas who can't resist talking about Sal's pizza or Die Hard. All in all, with more word-of-mouth marketing, less customer churn and high customer satisfaction, CEM Software is an investment that brings a much larger ROI for your business.

Now that we've established that Customer Experience Management Software is quite awesome, here are the features that make it awesome


The Key Features Of Customer Experience Management Software

 
  • Single Source Of Information With Customizable Dashboards

    A Customer Experience Management Software stores all your customers' data in one place, offers real-time updates that are easy to share with your various teams. Not just that, it creates dashboards to view and comprehend the information easily.

  • Survey Engine For Feedback Collection

    Remember that survey you get after placing an order on Amazon about rating your app experience or after contacting customer care asking for your feedback regarding the call? CEM Software has survey engines placed at all touchpoints to collect and collate responses to understand your journey better.

  • Ticket Management

    A ticket is raised every time your customer shares an issue they're facing. Now, the issue may require assistance from different teams and the customer service may be contacted a lot of times. A CEM overlooks the ticket's progress until it's resolved and collects feedback from the customer regarding how the issue was handled. This helps you in knowing your shortcomings and devising ways to reach a faster resolution.

  • Integrations With Other Tools

    As we said, CEM is the Endgame - it brings in all the other tools (Avengers) you may use through integrations to provide you with a better perspective of your customer satisfaction journey. It integrates with website analytics, CRM systems like Salesforce and even HR and finance data, analyses those metrics and ties them with the customer experience metrics and feedback.

  • Actionable Customer Analytics

    All CEM Software have the built-in capability to help you go from raw data to valuable customer insights without putting hundreds of hours of manual work or preparing millions of spreadsheets. A CEM Software gives you predictive analytics insights about customer behavior and feedback to help you analyze what customer sentiment is likely to be to a particular brand strategy. Through reverse-engineering, CEM Software analyzes a positive customer response to help you know what worked and can be used for future interactions.

  • Closed-loop Communication

    Nothing disappoints customers more than a brand that doesn't value their feedback or acknowledge their issues with a robust communication channel. Along with collecting, recording and analyzing feedback, CEM Software also lets you adequately respond to it. For instance, if you get a poor rating from a customer after a customer call, the software sends a notification directly to a manager to handle or even creates a ticket.

TechDogs-"The Key Features Of Customer Experience Management Software"-2D Image Showing Key Features Of Customer Experience Management Software
Where's Customer Experience Management Software Headed?


There's always scope for improvement and advancement when it comes to technology. There's always the possibility of creating John Wick 2 even when we thought there couldn't be anything better than John Wick. Customer experience management is likely to be enhanced in the near future with Artificial Intelligence, Augmented Reality insights and knowledge-base being adopted to provide better CX (customer experience). It wouldn't be surprising to find customer data getting more self-help support and solving issues without much human interaction with more immersive technology.

Furthermore, we can also expect advancement in feedback collection with customers choosing to submit voice and video feedback. After all, typing and filling forms to submit feedback is so passe, right? Lastly, you can expect CEM tools to be integrated with business analytics for better decision-making.
 

Conclusion


Like any other technology, customer experience management too can do wonders for your business growth. We at Techdogs, feel that whether or not you decide to invest in software, you'd have to put processes in place to make your customer experience better, now more than ever. Today's competitive world is all about making your existing customer happy. As Chris Pemberton from Gartner puts it, “Customer experience is the new marketing battlefront.”

Frequently Asked Questions

What is Customer Experience Management Software (CEM Software)?


Customer Experience Management Software (CEM Software) is a specialized tool designed to streamline and enhance every interaction a customer has with a brand throughout their buying journey. It serves as a centralized platform to monitor, organize, and analyze customer interactions, feedback, and behavior. CEM Software enables businesses to gather real-time data about customer engagement, preferences, and satisfaction levels from various touchpoints. By leveraging this information, businesses can tailor their strategies to meet or exceed customer expectations, ultimately leading to increased customer satisfaction, loyalty, and advocacy.

Why do businesses need Customer Experience Management (CEM) Software?


Businesses need Customer Experience Management (CEM) Software to prioritize and optimize the customer experience, which has become a critical differentiator in today's competitive market landscape. CEM Software allows businesses to gain deeper insights into customer preferences, behaviors, and pain points, enabling them to deliver personalized experiences that resonate with their target audience. By investing in CEM Software, businesses can enhance customer satisfaction, improve retention rates, and drive revenue growth through better cross-selling and upselling opportunities. Additionally, satisfied customers are more likely to become brand advocates, amplifying positive word-of-mouth marketing and contributing to long-term business success.

What are the key features of Customer Experience Management Software?


Customer Experience Management Software offers a range of features that contribute to its effectiveness in improving customer interactions. These features include a single source of information with customizable dashboards, survey engines for feedback collection, ticket management for efficient issue resolution, integrations with other tools for a comprehensive perspective, actionable customer analytics for valuable insights, and closed-loop communication to acknowledge and respond to customer feedback. These features collectively provide businesses with the tools they need to monitor, analyze, and enhance customer experiences across various touchpoints. CEM Software acts as the "Endgame," bringing together different tools to provide a holistic view of customer satisfaction and engagement.

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