Brief description about CEM, its use in business application and its implication. Comparison with CRM

1. CONCEPTS, IMPLEMENTATION & IMPLICATIONS
CUSTOMER EXPERIENCE
MANAGEMENT
Submitted by – Group 3
Alok Kumar
Ganapathi Subramanian V
Pravas Kumar Sahoo
Pradeep Rentapalli

2. Experience??

3.  Direct Interactions
 Indirect Interaction
Customer Experience

4. Before 80s: Majorly guesswork
80s: One way interaction
90s: Interactive through loyalty programme
and offers
2000s: Cloud technology, more complex
Now: Social Media, Mobile devices
Customer Relationship Management (CRM)

5. • Managing customer interactions to build brand equity and long-term
profitability
• For example: Which hotel will you choose to stay?
• The one which you went twice before and gives you some discount
Or
• One of your friends told you about his amazing experience in another hotel
Customer Experience Management (CEM)

6.  CRM is how a customer looks to
a company, while CEM is really
how the company looks to the
customer.
 CRM comes after the experience,
and CEM works hard on
anticipating it.
CRM vs CEM

7. Conceptual model of CE –
Antecedents and Consequents

8. o Differentiation strategy based on service and price no longer sufficient
o Firms which focus solely on customer satisfaction and customer loyalty have the best
performance
 In the study mittal et al.(2005), they found that efficient firms with satisfied
customers outperformed other firms.
o Experience based strategies can be used to improve customer experience
CEM Strategies

9. CEM & Business Performance
*Based on the research by crmguru.com

10. Omni-channel Retailing
• Combination of e-retailing and bricks & mortar store

11. Omni-channel Evolution

12. Information Systems in Omni-channel Markets

13. Technology Enabled Engagement Platforms
• Physical or virtual touch points designed to provide structural
support for integration of resources
• Ensure customer voice reaches to company
• Virtual Assistance
• Voice Assistance
• Self-Serving Kiosks
• Geo Location Services

14. Leveraging emerging channels to enhance
self- service
Virtual
assistants
Empowers customers –
better servicing
experiences without
compromising on quality
Integrated customer
communication
mechanism;
Self service
kiosks
Kiosks enable faster
processing of data;
eg: ATMs
Used in areas where
is insufficient retail
presence

15. Social Media & Sentiment Analysis
• From personal communication to product/service feedback
• Real voice of customer towards certain product
• Blogs, online forums, social networking sites such as Facebook, Twitter,
Instagram etc.
• Important source of information for organizations.

16. Customer Experience Analytics
• Convert data into business context
• Finding bottleneck in user experience
• Optimized buyer journey across different channels
• User activity, application performance, purchase behavior
• Many firms such as IBM, SAS, ORACLE, TCS, INFOSYS are providing
customer experience analytics solutions.

17. Managerial Implications –
Developing a Customer Oriented Strategy
• Need to know all customer touch points with the company - systematic
approach for collecting customer insight
• Identify key touch points & synergies across them
• Specify how the customer should experience the company at each touch
point
• Customer journey map
• Blueprint for key touch points

18. Managerial Implications –
Choosing the right tools & techniques
• Obtaining the right information
• Data collection & analysis methodology –
• Persistent vs. Periodic vs. Pulsed
• Web based vs. direct contact
• Single summary metric vs. specific metrics
• Integration with other existing systems

19. Managerial Implications –
Delivering personalized customer delight
• Analyze relative importance attributed to different aspects
• Analysis of the competitive landscape
• Identify the right time, place & method of delivering delight
• Customer feedback

20. Managerial Implications –
Drawing insights from customer feedback
• Identify relevant analysis mechanisms
• Make inferences from customer inputs
• Generate implementable action plan
• Identify obstacles
• Evolve strategies to overcome

21. Thank You !!