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Business Benefits & Key Take-Homes of CEM Software- WovVXM

Primer

Customer experience is that central pillar of the business along which all other functions are hinged. And if it is that important it has to be nurtured, managed, groomed, & instituted to let your business bloom.  A customer experience software does all that— it measures customers experience through feedback and leverages it to improve key business metrics. It generates treasures of data, which can be processed through the right analytical tool to generate key findings which not only helps in improving customer experience but also in making better business decisions. Thus, it creates a virtuous cycle of taking customer feedback and providing better customer experience which rolls your business forward. 

How can CX management software improve your business?

Here I am providing my take on how a customer experience management (CEM) software can help your business.

Makes customer satisfaction your core competency

Earlier customers were considered customers, then they became guests, and now they are owners. Globally businesses have realized that prudence lies in keeping your customers happy, because they give you traction. It’s soon going to surpass products and services as key brand differentiators. So, make yourself a customer-centric organization— a CEM software helps you in that.

Create personalized experiences for customers

Research has proved that the brands that are providing personalized experiences for customers are seeing faster turnover, up to 6 to 10 times, than those who don’t. A customer experience software platform provides a way to communicate with your customers, exchange ideas, and empathize – all at scale to improve customer engagement. For customers— engage, capture & win.

Provide better omnichannel customer experience

Businesses reach to the customers where they are— on emails, website, social media, mobile, apps and more. In this context it is important to create a better omnichannel customer experience so that customers feel the same, nice, experience across channels. This way they manage to consistently keep customers happy, and win their loyalty. 

Let the customers drive interactions

Customers are driving interactions, they decide the time, they decide the topic, and they decide the channels. As a company you need to adapt to the customers’ wishes— and those who can provide a standard level of communication, in terms of quality and approachability will ultimately win. So, increase your availability, for a wide time range, across channels, and across topics to be a favourite of customers. 

Leverage customer loyalty

It costs five times more to acquire a new customer than retain an existing one, also, a 10% increase in customer retention can increase the company revenue by 30%. This signifies that by retaining customers you can boost your revenue significantly against all odds. The best CX system identifies, nurtures, and aligns loyal customers to increase sales.

Sell more through whom you sell 

Today’s customer is smart— it differentiates between traditional marketing and new, innovative marketing, so it will give more weightage to an unbiased, neutral, & well-wisher opinion than to that of a company’s representative. Realizing this truth, more & more companies are making their customers their brand ambassadors. A better digital customer experience solution will let you use ‘word of mouth’ marketing to increase market share.

Retain customers

Research has shown that an existing customer spends around 70% more than a new customer. Also, customer churn costs businesses billions of dollars across the globe. Thus, retaining customers is the best strategy to increase sales.  An experience management (XM) software built around this notion identifies and addresses customer risks, takes apropos steps to fix the problem before it spirals out of control, and ultimately increases sales.

Stay updated on customers’ taste

Customers’ taste changes— and businesses have known this from the beginning, that’s why they would invest millions in big, costly, leviathan research projects to gain insight in customer preference. Problem with this traditional approach is that it lacks agility, the insight is slow to assimilate, and the information is based on historical data. The best CX solutions with blended analytics overcome all these problems. It keeps you updated on customers’ taste. 

WovVXM— the game changer

My all-time favourite with regard to a customer experience management software is WovVXM – a cloud based, CEM software that has seen numerous implementations across locations. 

Unique uses of WovVXM

  • Provide actionable insight by gathering true feedback.
  • Provide measurable parameters like NPS, CES, & CSAT and facilitate actions on them.
  • Identify and address existing and potential problems through feedback. 
  • Get a pulse over changing customers’ needs and expectations.
  • Establish meaningful interactions with customers. 
  • Create a holistic, overarching brand image by providing consistent customer experience across touchpoints. 
  • Predict future requirements.
  • Improve overall brand image. 
  • Create synergy by facilitating all stakeholders. 

Key features of WovVXM

CREATECreate DIY survey forms easily across devices. Do branding by customizing the forms by placing your logo and embedding your theme to the feedback forms.Use multiple languages to reach an international audience and take them onboard.30+ question types to let you ask the right question.Pre-defined survey templates to save time & labour and to get expert advice.
CAPTURECapture feedback from any stakeholder, be it customer, employee, or partner.Reach all customers and touch the right nerve by sharing feedback links across channels. Share QR code for easy and instant feedback collection.Customize feedback link settings which include IP restriction, one response per customer, expiry date, and more.
ANALYZECalculate parameters like NPS, CSAT, & CES.Do word cloud & sentiment analysis.Compare responses across location & method of feedback collection. 

Conclusion

In this blog, I took you through the benefits of customer experience management software and how it can be used to transform your business. Keeping the features & use cases of an ideal CEM in mind I also introduced you to WovVXM— a cloud based, powerful CEM software that is making waves in the experience management field. Now that you know the benefits of CEM and also you have been revealed the name of an advanced CEM software, you can leverage these to take your business forward by reading & analyzing customer sentiments. To make your life even easier, WovVXM is available in the FREE-FOREVER model so that you can start benefiting without getting your boots on the ground.