Customer Experience Management

Not only has Customer Experience become even more important as means to differentiate from the competition, it has become a very important weapon to defend and increase market share in highly competitive market environments.

Customer Experience Management, abbreviated CEM, CXM, or CX are the strategies, policies, and processes a company applies to design and deliver customer-centric interactions between customers and an organization.

Customer Experience is the cumulative perception of past, current, and prospective customers of a company, product, or service from the entirety of their observations, encounters, interactions, and transactions.

With commoditization of products and services in saturated hypercompetitive markets, sluggish economy, and slowing demand, the possibility of growing businesses through innovative product and service features is often limited. At the same time, businesses, are increasingly under threat being outperformed by lower cost competitors and concepts, while due to the abundance of attractive offers, overall customer loyalty is decreasing. Additionally, companies are having a much higher exposure and visibility to the general public, and unfavorable reviews of products and services published on the Internet or poor customer service experiences shared in social media going viral can have disastrous consequences on sales revenue and the bottom line of an organization.

Companies that would like to increase customer-centricity, retention, and satisfaction should include Customer Experience Management as integral parts of their business strategy and then translate their strategy into real business operations. While customary approaches to Customer Experience Management mainly focus on customers and employees and their human interactions, we recommend considering a triadic approach, taking also technology into account.

Should you require external support with the development and successful implementation of your CEM strategy, Skywave Solutions is optimally aligned, equipped, and ready to be of your best assistance.

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