Process: Experience Management
Customer experience is becoming an increasingly important factor in the customer purchase decision process.
A recent study stated that by 2020, customer experience will overtake price and product as the key brand differentiator.
Customer Experience Management (CXM) the practice of designing and reacting to customer interactions, throughout the customer lifecycle, to meet or exceed customer needs and expectations and, thus, increase customer satisfaction, loyalty and advocacy.
At Fitrepreneur we include Employee Expereince Management (EXM), the process of delivering positive experiences to employees, which leads to positive customer experience by emphasizing their experiential needs.
* The correlation between CX and repurchasing is very high (R= 0.82).
* There’s a 21-point difference in Net Promoter Score between consumers who’ve had a very good experience with a company and those who’ve had a very poor experience.
* Of the three components of CX success, effort, and emotion an improvement in the latter drives the most significant increase in loyalty.
* A modest improvement in CX could add 50-100% to revenue over three years.
- The Stages of a Customer Journey consist of the six pre-purchase stages, from Engagement to Purchase, and the post-purchasse stages, Adoption, Retention, Expansion, and Advocacy.
- The Customer Journwy Map is a framework that visually represents the iconic experiences that customers have throughout the Customer Experience Lifecycle.
- We create Buyer Personas to represent people involved in the purchase decision process and Goal-Driven or Design Personas to represent the people that use the product.
- In each Stage we includde the core activity, the touchpoints, or interactions the Buyer/User has with the company or product, and the channels, or the environment and means of communication at each touchpoint.
- The Jobs To Be Done (JTBD) Framework uses a Job Map to identify jtbd (experiments) and uncover oppportunities (design thinking).
- Design Thinking is a human-centered, Persona, approach to discovering problems and collaborating with cross-fuctional teams to propose Solutions or Business Models.
Benefits of Customer Experience Management
* Develop a detailed understanding of Buyers and Users throughout the product lifecycle
* Identify problems that exist with in the current system
* Uncover opportunities that form solutions
* Improve the customer experience and increase custoemr satisfaction