{"id":17261,"date":"2024-02-21T09:00:47","date_gmt":"2024-02-21T09:00:47","guid":{"rendered":"https:\/\/breadstack.com\/?p=17261"},"modified":"2024-02-24T00:44:47","modified_gmt":"2024-02-24T00:44:47","slug":"what-is-customer-experience-management-cxm","status":"publish","type":"post","link":"https:\/\/breadstack.com\/insights\/marketing\/what-is-customer-experience-management-cxm\/","title":{"rendered":"What is Customer Experience Management (CXM) & How To Build A Great Customer Experience"},"content":{"rendered":"\t\t
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How do small businesses stand out in a crowded marketplace and keep customers coming back for more? Sometimes, the fact that they sell unique or great-quality products is a big part of the answer. However, it\u2019s usually not the whole story.<\/span><\/p>

Businesses are much more than just products. Amazingly, 88% of customers report that the <\/span>customer experience a company provides<\/span><\/a> matters just as much as the products it sells.<\/span><\/p>

\u201cCustomer experience\u201d is a complex idea that can be hard to pin down, let alone work with. In this article, we\u2019ll introduce you to the concept of customer experience management – a structured approach to making your customers happy while boosting your sales, invigorating your brand, and setting you up for long-term growth.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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What is customer experience management?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Customer experience management (CXM) boils down to a simple idea: satisfied customers are more likely to become loyal advocates of a brand.\u00a0<\/span><\/p>

There\u2019s no single trick to keeping customers happy. Rather, CXM is about taking a holistic approach, striving to create positive experiences at every touch point in the customer journey.<\/span><\/p>

CXM encompasses the strategies, processes, and technologies business use to optimize every interaction a customer has with their brand. It\u2019s a far-reaching concept that ties together customer service, product quality, marketing, and user interface design.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Why is customer experience management important?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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There are several excellent reasons to prioritize<\/span> CXM. First and foremost, it fosters <\/span>customer loyalty<\/span><\/a>, encouraging repeat purchases and positive word-of-mouth recommendations, which are vital for business growth.\u00a0<\/span><\/p>

In fact, in a recent survey, 95% of respondents stated that a <\/span>positive customer experience<\/span><\/a> impacts their loyalty to a brand.<\/span><\/p>

Providing exceptional experiences can also help you stand out from competitors. Even if your products aren\u2019t unique in and of themselves, fostering a shopping environment that makes customers feel good can help you carve out a niche in the market.<\/span><\/p>

Thirdly,\u00a0 CXM allows you to identify pain points in the customer journey. In the process of developing and honing your approach, you\u2019ll learn about what your customers enjoy – and where and why they might be dropping off. Armed with those insights, you can streamline processes, optimize your user interfaces, and improve overall efficiency.<\/span><\/p>

Last but not least, a well-executed CXM strategy gives you a bit of a buffer against occasional hiccups. Satisfied customers are more forgiving of the odd mistake or glitch. They\u2019ll be more likely to overlook minor issues, reducing the risk of negative reviews or complaints.\u00a0<\/span><\/p>

Ultimately, investing in CXM not only leads to increased customer satisfaction and retention but also drives long-term profitability and sustainability for your business.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Why is customer experience management important?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Customer Relationship Management (CRM) is a vital component of CXM. However, CXM encompasses a broader scope.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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CRM revolves around managing and nurturing relationships with customers by organizing and analyzing data on interactions and transactions. CRM systems allow you to track customer information, communication history, and sales opportunities. Usually, the primary goal of CRM is to drive sales and retention.<\/span><\/p>

Proponents of CXM go beyond relationship-building, aiming to understand and improve every interaction a customer has with a brand throughout their journey. It\u2019s about emotional connections, brand perception, and overall satisfaction.\u00a0<\/span><\/p>

Effective CXM draws heavily on insights from CRM – but it also takes into account other business areas such as interface design and product quality, with a focus on how these factors help shape the customer experience.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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How to create a great customer experience<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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CXM might sound ambitious, but that\u2019s actually the point. You\u2019ll never achieve total perfection across every customer interaction. What\u2019s important is that you stay focused on, and responsive to, your customers\u2019 needs, expectations, and feedback.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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If you\u2019re getting ready to lay out a CXM strategy, here are a few best practices to keep in mind:<\/span><\/p>