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Customer experience management

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alok kumar
alok kumar

Brief description about CEM, its use in business application and its implication. Comparison with CRM

1 of 21
CONCEPTS, IMPLEMENTATION & IMPLICATIONS CUSTOMER EXPERIENCE MANAGEMENT Submitted by – Group 3 Alok Kumar Ganapathi Subramanian V Pravas Kumar Sahoo Pradeep Rentapalli
Experience??
 Direct Interactions  Indirect Interaction Customer Experience
Before 80s: Majorly guesswork 80s: One way interaction 90s: Interactive through loyalty programme and offers 2000s: Cloud technology, more complex Now: Social Media, Mobile devices Customer Relationship Management (CRM)
• Managing customer interactions to build brand equity and long-term profitability • For example: Which hotel will you choose to stay? • The one which you went twice before and gives you some discount Or • One of your friends told you about his amazing experience in another hotel Customer Experience Management (CEM)
 CRM is how a customer looks to a company, while CEM is really how the company looks to the customer.  CRM comes after the experience, and CEM works hard on anticipating it. CRM vs CEM
Conceptual model of CE – Antecedents and Consequents
o Differentiation strategy based on service and price no longer sufficient o Firms which focus solely on customer satisfaction and customer loyalty have the best performance  In the study mittal et al.(2005), they found that efficient firms with satisfied customers outperformed other firms. o Experience based strategies can be used to improve customer experience CEM Strategies
CEM & Business Performance *Based on the research by crmguru.com
Omni-channel Retailing • Combination of e-retailing and bricks & mortar store
Omni-channel Evolution
Information Systems in Omni-channel Markets
Technology Enabled Engagement Platforms • Physical or virtual touch points designed to provide structural support for integration of resources • Ensure customer voice reaches to company • Virtual Assistance • Voice Assistance • Self-Serving Kiosks • Geo Location Services
Leveraging emerging channels to enhance self- service Virtual assistants Empowers customers – better servicing experiences without compromising on quality Integrated customer communication mechanism; Self service kiosks Kiosks enable faster processing of data; eg: ATMs Used in areas where is insufficient retail presence
Social Media & Sentiment Analysis • From personal communication to product/service feedback • Real voice of customer towards certain product • Blogs, online forums, social networking sites such as Facebook, Twitter, Instagram etc. • Important source of information for organizations.
Customer Experience Analytics • Convert data into business context • Finding bottleneck in user experience • Optimized buyer journey across different channels • User activity, application performance, purchase behavior • Many firms such as IBM, SAS, ORACLE, TCS, INFOSYS are providing customer experience analytics solutions.
Managerial Implications – Developing a Customer Oriented Strategy • Need to know all customer touch points with the company - systematic approach for collecting customer insight • Identify key touch points & synergies across them • Specify how the customer should experience the company at each touch point • Customer journey map • Blueprint for key touch points
Managerial Implications – Choosing the right tools & techniques • Obtaining the right information • Data collection & analysis methodology – • Persistent vs. Periodic vs. Pulsed • Web based vs. direct contact • Single summary metric vs. specific metrics • Integration with other existing systems
Managerial Implications – Delivering personalized customer delight • Analyze relative importance attributed to different aspects • Analysis of the competitive landscape • Identify the right time, place & method of delivering delight • Customer feedback
Managerial Implications – Drawing insights from customer feedback • Identify relevant analysis mechanisms • Make inferences from customer inputs • Generate implementable action plan • Identify obstacles • Evolve strategies to overcome
Thank You !!

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Customer experience management

  • 1. CONCEPTS, IMPLEMENTATION & IMPLICATIONS CUSTOMER EXPERIENCE MANAGEMENT Submitted by – Group 3 Alok Kumar Ganapathi Subramanian V Pravas Kumar Sahoo Pradeep Rentapalli
  • 3.  Direct Interactions  Indirect Interaction Customer Experience
  • 4. Before 80s: Majorly guesswork 80s: One way interaction 90s: Interactive through loyalty programme and offers 2000s: Cloud technology, more complex Now: Social Media, Mobile devices Customer Relationship Management (CRM)
  • 5. • Managing customer interactions to build brand equity and long-term profitability • For example: Which hotel will you choose to stay? • The one which you went twice before and gives you some discount Or • One of your friends told you about his amazing experience in another hotel Customer Experience Management (CEM)
  • 6.  CRM is how a customer looks to a company, while CEM is really how the company looks to the customer.  CRM comes after the experience, and CEM works hard on anticipating it. CRM vs CEM
  • 7. Conceptual model of CE – Antecedents and Consequents
  • 8. o Differentiation strategy based on service and price no longer sufficient o Firms which focus solely on customer satisfaction and customer loyalty have the best performance  In the study mittal et al.(2005), they found that efficient firms with satisfied customers outperformed other firms. o Experience based strategies can be used to improve customer experience CEM Strategies
  • 9. CEM & Business Performance *Based on the research by crmguru.com
  • 10. Omni-channel Retailing • Combination of e-retailing and bricks & mortar store
  • 12. Information Systems in Omni-channel Markets
  • 13. Technology Enabled Engagement Platforms • Physical or virtual touch points designed to provide structural support for integration of resources • Ensure customer voice reaches to company • Virtual Assistance • Voice Assistance • Self-Serving Kiosks • Geo Location Services
  • 14. Leveraging emerging channels to enhance self- service Virtual assistants Empowers customers – better servicing experiences without compromising on quality Integrated customer communication mechanism; Self service kiosks Kiosks enable faster processing of data; eg: ATMs Used in areas where is insufficient retail presence
  • 15. Social Media & Sentiment Analysis • From personal communication to product/service feedback • Real voice of customer towards certain product • Blogs, online forums, social networking sites such as Facebook, Twitter, Instagram etc. • Important source of information for organizations.
  • 16. Customer Experience Analytics • Convert data into business context • Finding bottleneck in user experience • Optimized buyer journey across different channels • User activity, application performance, purchase behavior • Many firms such as IBM, SAS, ORACLE, TCS, INFOSYS are providing customer experience analytics solutions.
  • 17. Managerial Implications – Developing a Customer Oriented Strategy • Need to know all customer touch points with the company - systematic approach for collecting customer insight • Identify key touch points & synergies across them • Specify how the customer should experience the company at each touch point • Customer journey map • Blueprint for key touch points
  • 18. Managerial Implications – Choosing the right tools & techniques • Obtaining the right information • Data collection & analysis methodology – • Persistent vs. Periodic vs. Pulsed • Web based vs. direct contact • Single summary metric vs. specific metrics • Integration with other existing systems
  • 19. Managerial Implications – Delivering personalized customer delight • Analyze relative importance attributed to different aspects • Analysis of the competitive landscape • Identify the right time, place & method of delivering delight • Customer feedback
  • 20. Managerial Implications – Drawing insights from customer feedback • Identify relevant analysis mechanisms • Make inferences from customer inputs • Generate implementable action plan • Identify obstacles • Evolve strategies to overcome

Editor's Notes

  1. -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
  2. -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
  3. -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
  4. -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels
  5. -> both emotional and rational components of the customer’s experience are specified for each touch point. -> ensure a consistent customer experience within and across multiple channels