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Customer experience management

Customer experience management (CEM or CXM) is the collection of processes a company uses to optimize interactions from the customer's perspective and foster customer loyalty. CXM requires a company to create a customer-centric strategy that aggregates data from every possible customer touch-point and moment of truth (MOT).
There are four critical steps to creating a successful customer experience strategy:

Understand your customer
The first step in building a customer strategy is understanding customers' needs and behaviors and creating customer segmentation based on these factors.

Create a customer vision
Once the target audience is identified, the next step is to create a customer journey map. This helps identify customer touch-points and anticipate how customers will interact with the product or service and could help customer retention down the road.

Develop an emotional connection
This involves creating a brand personality that evokes emotions and connections for a customer and helps establish a relationship between the customer and the company.

Capture customer feedback
It is important to measure customer satisfaction in real time. Customer feedback can help the company track customer perceptions, enable quality monitoring and measure the success of the customer experience strategy.

Today, there is more incoming data to process from more sources than ever before, and this data needs to be integrated with existing customer account data. The ability to combine customer relationship management (CRM) system data with financials, ERP and inventory management, as well as real-time data on social platforms, is an important consideration when purchasing software to support CXM.

Many companies rely on business intelligence and customer data analytics tools to learn how to market and sell to customers in a more personalized, one-to-one fashion. Personalization strategies include new technologies, such as mobile marketing, location-based services and beacons, which help companies identify where customers are and market to them in real time.

Companies also use emotional analytics to gauge whether customers benefit from their interactions with the brand. Emotional analytics software can help analyze the success of a variety of operations that are related -- but potentially tangential to -- customer service, such as inventory management or supply chain management.

Knowledge management systems are also important tools for seamless customer service. Agents can use these systems to look up product information and customer interactions with other products. Agents can also combine this information with customer data and inventory information to provide customers with account information, product education and inventory.

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