Why are companies pursuing the goal of creating exceptional customer experiences? After all, CEM costs money. Lots of money.
As with most enterprise goals, it certainly isn’t because they altruistically want their customers to have better lives (although I’m sure deep down they do).
No, it does of course have everything to do with the bottom line and a return on investment.
Keepify produced an infographic last year titled “14 Customer Experience Facts Marketers Can’t Ignore”. These are some of the drivers behind the reasons to manage CX.
So how do you quantify the benefits of CEM to a CFO demanding a return on her investment in the cost of a CX program? Here I have listed just some of the ways a good CEM program will pay for itself in spades.
Sales
Marketing
Operations
Product Development
Human Resources
Are there any that I’ve missed? What factors have you used to help build the CEM business case?
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The power of customer experience is now amplified by the existence of social media. All brands now need a social presence, but many remain scared… scared of the real, direct and honest customer feedback that can now be published to an engaged client base. As such, the case for CEM is one of positive social experiences and marketing – the best way for a brand to ensure their facebook site is a destination that is filled with positivity and happiness is to ensure that they engage in effective CEM.
Agreed Henry. Your point is well made. My next post on the pillars of a good CEM program will delve deeper into how an organisation can more effectively engage their customers.
It should be said though that you’re always going to have unhappy customers. And in this age of social enlightenment, many of them have ‘megaphones’ they use to broadcast their dissatisfaction. What separates the good companies from the bad is how they handle those customers.