Customer Experience Management (CXM or CEM) is getting undivided attention and has become an integral part, native in the business domain. Every brand that cares about its customers is busy finding its way to build and perfect its Customer Experience Management strategy.
Customer Experience Management comprises a collection of activities that a business undertakes to provide a personalized, smooth customer experience to customers.
It is about knowing your customers well and making sure that they are happy and satisfied at every point of interaction with your company, right from the beginning of the customer journey. Simply put, customer experience management is all about fulfilling customer expectations and establishing a positive perception of your company in their minds. However, before entering in detail let us first understand what exactly Customer Experience Management is and why has it gained so much momentum?
What is a Customer Experience Management (CXM)?
A customer experience management system (CXM) is a technology that empowers businesses to manage their organization’s interactions with customers, both present and potential. The system should work with all their customer-facing touchpoints including organizing, automating, and synchronizing them so that they can serve all their customers and quickly resolve their issues.
Why customer experience management is Crucial?
The concept of customer experience (CX) might sound idealistic, but any business or marketer who puts it away as such is sadly out of touch. As a matter of fact, CX has become a cCX has become a crucial differentiator in the present day’s hyper-connected and hyper-competitive market. There is substantial business value in managing the customer experience effectively and efficiently Great customer experience management can,
- Strengthen brand preference via differentiated experiences.
- Boost revenue with incremental sales from existing customers and new sales from positive word of mouth.
- Improve customer loyalty and create brand advocates through valued and memorable customer interactions and experience.
- Decreased costs by reducing customer churn.
Top 7 Customer Experience Management Platforms for 2021
- Adobe Experience Manager
Adobe Experience Manager is software from Martech Leader Adobe. It is a cloud-native customer experience tool with content and a digital asset management-centric approach. Being a part of a comprehensive digital marketing suite that is the Adobe Marketing Cloud, Adobe Experience Manager provides features for content creation, digital asset management, form building, etc.
Its AI-powered tools provide you with insights into the type of content your customers like and engage with across all channels so you can continue delivering them with consistent and personalized user experiences. Among the premium features of platforms are audience segmentation, customer profiles, location mapping, identity control, data governance, ingestion, etc.
Previously known as IBM Tealeaf, Acoustic Experience Analytics is an AI-powered platform that empowers businesses to analyze and get to the root cause of customer behavior to improve and enhance customer retention and conversion rates.
Acoustic utilizes data from user behavior analytics to provide insight into the customer experience (CX). The service stresses more on the personalization of experience through listening to the data and customizing every customer touchpoint.
Medallia is capable of analyzing multi-channel feedback in real-time to uncover patterns and predict customer behavior. Medallia is easily one of the leading Customer Experience Management solutions available with more than 1 million active users monthly. With its intuitive, cloud-based interface, Medallia enables you to collect customer feedback from multiple channels and analyze it in real-time to detect patterns, uncover sentiment, and predict behavior.
Text analytics feature of Medallia employs AI and machine learning (ML) to automatically analyze textual feedback and turn it into useful insights while its action intelligence permits you to automate high-impact tasks like risk detection and suggestion mining so you can recognize at-risk customers, understand the drivers behind their behavior, and implement strategies that effectively lead to their retention.
- SAS Customer Intelligence 360
SAS Customer Intelligence 360 is a one-stop shop for building and personalizing customer experiences to boost businesses. It has features such as tests and experiments, guided analytics, customer journey optimization, personalizations, and recommendations.
Businesses that utilize this software can track all customer interactions across all the customer touchpoints. It also interprets the data to allow businesses to make decisions on parts of the customer journey that requires improvement.
- Oracle CX
As per the developers of Oracle Customer Experience, “Customer signals are everywhere.” The tool helps businesses in monitoring, tracking, and interacting with customers at every point of their customer journey and deliver a great customer experience to them. This cloud-based platform ties finance, supply chain, and customer experience together.
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ABOUT THE AUTHOR
Content Writer, Martech Cube
Aashish is currently a Content writer at Martech Cube. He is an enthusiastic and avid writer. His key region of interests include covering different aspects of technology and mixing them up with layman ideologies to pan out an interesting take. His main area of interests range from medical journals to marketing arena.