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March 29, 2022

Customer Experience Management Is Key in Contact Centers

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Customer experience management (CXM) is one of the most important practices that a company implements in their contact center.

Customer experience management (CXM) is one of the most important practices that a company implements in its contact center. In today’s market, customers rarely base their loyalty on products or prices. Instead, they stay loyal to companies based on their experiences.

Statistics prove this. Customer-centric companies are 60% more profitable than companies that don’t prioritize customer experience management. This isn’t a surprise given that customers spend 17% more for a good experience. It’s worth it to invest in customer experience management. In this article, we’ll break down what customer experience management (CXM) is and what you need to know about CXM to make it work for your company.

What is customer experience management (CXM)?

Design and optimize the customer journey to better meet their customer’s needs.

Customer experience management (CXM) is the practice of understanding customers through the interactions and touchpoints they have with a company or brand. Using this data, a company designs or optimizes the customer journey to better meet its customer’s needs. Successful CXM is cross-functional and cannot be siloed within one team. 

CXM should be thought of in two ways: as a technology and as a process that needs to be closely tracked and managed. The technology enables customer experience management, but it can’t operate without the strategy and human-enablement piece. It requires a company to create processes that track, manage, and enable interactions with customers.

Why is customer experience management important?

According to Dimension Data, 84% of companies that work to improve their customer experience report an increase in their revenue. When managed right, customer experience management directly affects revenue.

The customer journey is more complex than ever before. Customers interact with brands through more channels. Social media, websites, SMS, call centers, and applications are just a few examples. Omnichannel strategies allow companies to meet their customers at more touchpoints, more often. This is an incredible opportunity to capture brand-loyal customers. But it’s also detrimental to your company if left unmanaged.

The challenges with CXM

Lack of customer data

Customer experience management is most effective with ample customer data. Customer data shapes CXM strategy. It’s critical in developing the best possible customer experience.

Not enough omnichannel support

Customers understand that levels of service may differ from channel to channel. But only to an extent. They do expect customer service to remain largely consistent. But with companies employing multi-channel support, it makes it difficult to ensure this consistency without the right management tools.

Neglecting qualitative information

Sure, quantitative data from surveys, polls, and questionnaires provides measurable insights from your customers. But qualitative data helps your company determine the ‘why’ behind the numbers. Qualitative data is typically expressed through sentences and natural language descriptions. Not by numbers.

Qualitative data captured in customer feedback is also referred to as voice of the customer (VoC). It gives your team the reasons behind figures. It takes out the guesswork of knowing what your customers really mean. 

Siloed CXM

Poor internal communication is counterproductive to good customer experience management. If different functional teams interact with customers separately, the customer experience will be incohesive and confusing. Customer feedback collected by one team must be shared across the organization. This makes it easier to identify root causes of poor customer experience.

The customer journey cuts across teams. Without collaboration, it’s nearly impossible to discover and take action on issues that customers experience. It also hurts the company’s growth as a whole. Sharing successes and failures stops history from repeating itself. Otherwise, customers will continue to have the same kinds of poor experiences, resulting in the same negative reactions.

You’re probably wondering how to avoid these challenges with customer experience management. With the right process and CXM software, your team can bypass these problems and hit the ground running.

How to create a great customer experience

Understand your customer

Creating a great customer experience starts by understanding what your customer experience currently looks like. Don’t make assumptions about what your customers think and how they feel. Collect real data.

Start by collecting as much information about your customers as possible. Think qualitative and quantitative data. What are they saying on social media and in reviews? What’s their purchase history? How do they interact with your product or service? Once you have this information, create customer profiles. Include demographic information, psychographic and socioeconomic attributes, and customer goals, pain points, and motivators.

Map out the customer journey

With your customer information collected, it’s time to create a customer journey map. A customer journey map helps to identify customer touchpoints and anticipate how customers will interact with your product or service. Customer journey maps can also help your company boost customer retention in the long term.

Develop an emotional connection

Brand loyalty rides on customers’ emotional connections to a company and its products or services. What does this emotional connection look like for your company? Brainstorm ways to build this emotional connection with your customer. Then add these ideas to your customer journey map to improve brand loyalty and enhance the customer experience. 

Collect customer feedback

After putting in the work to develop a great customer experience, it’s time to analyze and optimize. Identify what’s working and what’s not. Try to collect as much information without reaching out to customers first. After you have a foundation of understanding, create surveys or polls to gather even more insight. Then optimize your customer journey based on this feedback.

Why invest in customer experience management software?

As we’ve already hinted at, customer experience management is the key to growing customer loyalty and boosting revenue. Creating the best customer experience takes some work. But the right CXM software makes it much easier. Check out the key benefits of using the right CXM software:

Improved employee productivity: Enable your agents to help customers better with chat automation and real-time customer data. 

Streamlined business decisions: With data collection and visualization across channels, key decision-makers can quickly run reports and access the right information. This information helps your team make better decisions and improves company performance overall.

Increased competitive advantage: By significantly improving operational performance, CXM software helps to reduce customer churn and increases customer satisfaction. It also helps to decrease service costs

What to look for in a customer experience management platform

An all-in-one solution integrates all channels into a single platform.

Omnichannel customer experience

Voice, SMS, email, webchat – you name it, your CXM platform should support it. Your agents need to be able to seamlessly shift between voice and digital channels. A top-notch platform will unify all customer interaction history, customer profile information, and controls into one desktop that improves agent effectiveness and speed.

Centralized data storage with real-time visualization

The right platform stores, manages, and integrates data from voice, email, SMS, and webchat cohesively in order to run performance reports and customer interaction history. Collecting and visualizing incoming customer data improves the agent and customer experience alike. Without a comprehensive data storage solution, you’ll have to hire data analysis and management experts to provide ongoing technical support and maintenance. Save money and time by investing in a unified platform.

Intuitive dashboards

Meaningful data is all about presentation. A well-designed performance dashboard allows your team to understand what story the data is telling at a quick glance. Intuitive dashboards can easily improve agent performance. They support the decision-making process and offer a central location to monitor key performance indicators (KPIs). 

Easy-to-use analysis tools

CXM planning and implementation only contributes to the long-term success of your company if it’s actually improving the customer experience. Give your team access to relevant data to confirm it’s working. With easy-to-use analysis tools, your team can draw insights from the customer journey and optimize it accordingly.

The all-in-one solution

Ditch multiple customer support applications for LiveVox’s omnichannel platform. It integrates all channels into a single platform, providing your agents with the insights they need to immediately identify and help every customer, regardless of the channel they’re on.

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About LiveVox

LiveVox (Nasdaq: LVOX) is a next generation contact center platform that powers more than 14 billion omnichannel interactions a year. By seamlessly unifying blended omnichannel communications, CRM, AI, and WEM capabilities, the Company’s technology delivers exceptional agent and customer experiences, while helping to mitigate compliance risk. With 20 years of cloud experience and expertise, LiveVox’s CCaaS 2.0 platform is at the forefront of cloud contact center innovation. The Company has more than 650 global employees and is headquartered in San Francisco, with offices in Atlanta; Columbus; Denver; New York City; St. Louis; Medellin, Colombia; and Bangalore, India. To stay up to date with everything LiveVox, follow us at @LiveVox or visit livevox.com.

To stay up to date with everything LiveVox, follow us at @LiveVox, visit www.livevox.com or call one of our specialists at (844) 207-6663.

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