"I would say that the organization must embrace the idea that customer experience management is a continuous improvement program, not a one-and-done silver bullet project." Jeff Sheehan, Ex Managing Director at CX JS Consulting, says in Clootrack's 102 CX Expert report.
Customer Experience Management is not a straightforward chore to handle as customer behavior frequently alters due to digital transformation. It's challenging for a brand to implement a suitable Customer Experience Management (CXM) strategy that strengthens core business operations and brings desired organizational outcomes.
CXM program needs continuous modifications to meet the needs of potential customers and offer a great customer experience. And to make it happen, setting an appropriate Customer Experience Management Framework is non-negotiable.
Why is Customer Experience Management Framework Crucial For a Business?
The customer experience management framework works as a support pillar for CX endeavors. CXM framework maintains the customer-first culture in an organization and ensures that all departmental workings walk together on the path of customer-centric approaches.
With the CXM framework, brands can understand and simplify processes according to customers' desires at the administrative level. Further, it allows a brand to leverage an entire customer-focused scheme that makes customer interactions effortless. Indeed, utilizing the customer experience management model at its fullest attracts more customers as customer satisfaction enriches exceptionally because of to-the-point offerings.
Undoubtedly, the apt CXM structure creates a defined sequence of procedures that caters to the internal development of the company as a whole. Besides, it augments the actionable customer insights that entitle a brand to increase customer lifetime value (CLV). In return, that boosts the ROI of the company, enabling it to re-invest in appropriate daily actions for building a thriving business.
But, for such evolution to take place, the brand must execute the CXM framework effectively.
3 Steps To Effectively Implement The CXM Framework
Enactment of the CXM framework through a relevant process helps a brand to conduct an unbiased evaluation of its CX agendas. Other than that, governance of CX activities becomes uncomplicated for the top executives, facilitating them to drive decisions that assemble a constructive brand perception.
The undertaking of the CXM framework via the right tools and techniques supplies strategic benefits that reinforce the CX methodologies, working in favor of the brand's success. Moreover, for generating valuable CXM effects, the CX setup brought into effect with specific proceedings nurtures the customer contentment.
Here are 3 steps to enforce the CXM Framework effectively -
1) Understand Potential Customers
Customer research is a never-ending process, and it definitely is a critical part of the CXM system. Sticking to only one way of research might hinder the CX management actions and brand development. Constantly nurturing the customer research process through the latest technical solutions builds the CXM framework.
Creating new versions of relevant products and services with the help of customer research data is no magic. A brand needs to upgrade its research competency for more promising offerings. Assortment of human and tech research work solving customers' problems automatically fills the voids in the CXM framework without any hustle.
Enhancement measures taken for customer experience require customer data. Customer details extracted from the Voice of the Customer (VoC) program permit the customer experience team to initiate the framing of the CXM system of the firm.
Furthermore, the organization's managing network that encircles customer-facing works possesses consumer insights that support the CX workforce in setting up the direction of CXM workings.
2) Set Customer Experience Strategy
A blur customer experience management strategy can never coordinate its effects in accordance with the regular changes noticed in the consumer market. The quality of the CXM process entirely depends on how an organization drafts its customer experience strategy and grabs every opportunity to upgrade its CX using customer insights.
With digital advancements, there are tons of customer-satisfying things to keep in mind that define the CXM framework. Every time a company enforces a CX trend, it's unquestionable to witness a tweak in the CXM framework. The brand should ensure if or not the modification aligns with the transformations required in the CXM plan. If the change favors the brand's evolution, the company must add it to the refinement loop of CXM.
Following the CX trends encourage customer-centricity that draws the customers to the brand and aid in earning a long-term relationship and customer input. Consequently, there is a full scope of boosting a brand's CXM strategy with customer insights obtained from processed customer details and reviews.
A deeper analysis of consumer insights delivers customer metric numbers that function as a shaping tool for the CXM framework for the brand. Customer-related figures authorize a brand to tweak its CXM policies in a way that brings unexpected positive results.
A well-defined CX strategy assists in mapping out the CXM structure after a brand comprehends customer requirements well. Assembling the CXM framework by bringing consistent refinements in CX approaches helps the brand achieve its customer goals in a shorter time.
3) Blend the CX Initiative Across Business
Spreading and molding the CX tactics across the organization is a fundamental phase in the formation of a customer experience management framework. The involvement of several departments in customer experience magnification exercises promotes a customer-first mindset. It ignites the motivation flame inside the organization to address customer issues at all costs.
Developing a customer-centric culture becomes an advantage as it justifies and backs all the CX initiatives commenced by top executives. Additionally, it enables leaders to keep an eye on CX outputs generated from a particular business unit. All these activities and happenings help in forming and supporting the CXM structure.
A Statista report confirms that the global spending on customer experience (CX) technology is forecast to increase from around 500 billion U.S. dollars in 2019 to over 640 billion by 2022. In today's digital, a brand's understanding of financing its CX ambitions world is admirable. Already, more and more brands are conscious about investing in the latest technical solutions for better customer experience and CX management. But, without a proper plan and contemporized CXM structure, every effort equalize to zero.
A brand should be able to provide an explanation for the resources implemented to constitute a CXM framework. For constructing the CXM framework, getting the customer-related answers right by identifying the achievement of desired outcomes is vital. Investment assessment significantly enriches the CXM framing with every iteration, increasing the brand's clarity of overall CX operations.
Finally, a precise CX Management framework stimulates a brand's ripening phase, bringing enough value to the company and allowing it to monitor its overall growth skillfully.
4 Advantages of the Right CX Management Framework
Steve Curtin, the author of the book 'Delight Your Customers' says, "CXM = The art and science of coaxing lifetime loyalty from daily transactions."
CXM is an unavoidable part of the CX activities that assure customer loyalty. And the accurate CXM framework plays a crucial role in keeping CXM on track.
Here are 4 fundamental advantages of the right CX management framework -
1) Identify Gaps in Customer-Focused Approaches
The spot-on CXM framework assists a brand in examining the maturity of its customer experience management projects. The level of exertions deposited can be readily justified with the help of a CXM plan. When the gaps in the CX methodology fill, the CX quality optimizes, and more customers are willing to connect with the brand at the cost of customer experience supplied by the company.
2) Determine and Implement Profitable Strategies
A reasonable framework guarantees the execution of the objectives of CXM to induce a notable impact on CX. CXM framework help in fine-tuning the customer touchpoints for achieving customer fulfillment. The entire CXM structure focuses on fulfilling customer wishes through recognizing and implementing customer-centered strategies. Also, those strategies allow the brand to erase the line between real and digital customer interactions, increasing customer retention and acquisition rate.
3) Identify the Rate of Resource Usage by different CX Activities
CXM framework is a much-needed investment a brand needs to have to receive profitable returns. Certainly, various CX activities require resource investments. But, blindly investing and not calculating the outputs can prove to be problematic for a company's funds. CXM framework eases the workload by specifying the rate of resource absorbed by a singular CX action at a particular point in time. Considering those numbers, a brand can accurately allocate resources accordingly and stop its wastage.
4) Provide Measurable and Actionable CX Techniques
CXM framework redefines the CX goals and qualifies the CX team to look deeper into the issues causing a disturbance in the smooth functioning of the CX program. The framework holds relevant CX management data at every point of the frame defining the complete task at a particular juncture of the CXM cycle. Rework on CX assignments backed by CXM data drastically increases the efficiency of the CX initiative.
To Wrap Up
The customer experience management framework binds customer-driven workouts of an organization. CXM framework strategically streamlines the CX improvement efforts. A defined CX structure highly promotes transparency in customer experience activities and acts as a helping hand in yielding expected outcomes.
From successfully identifying gaps in customer-centric methods to implementing to-the-point strategies, the CXM framework provides a wide range of benefits and emerges as an asset to an organization. Ultimately, it is acceptable to consider the CXM framework as the backbone of all efforts that deliver a better customer experience.
Read More - Detour from a Uniform Customer Experience Strategy Can Hurt Your Brand