The Changing Priorities of CXM

Gartner Inc. has recently completed a study, which predicts that during 2015, many companies will start to change the focus of their Customer Experience Management (CXM) projects. The study took in the views and opinions of almost 300 CXM thought leaders across wide range of businesses, markets and regions.

The study looks at the Customer Experience Management projects that were actioned during 2014, and compares them to projects that will run during 2015. Findings showed a shift in focus, and also that when a company wishes to improve its CXM position, the situation is far from simple.

Taking a glance at the top level facts that Gartner has released based upon this study, we find that in 2014, each company actioned on average 6.7 Customer Experience Management projects. The vast majority of these projects related to the collection of customer feedback, and the analysis of collected feedback. Note here, that we use the term ‘customer feedback’ rather than Voice of the Customer (VoC), as many companies are still relying solely upon customer feedback surveys as their sole source of VoC data. A little lower down the list we find that the development of self-help customer service tools was also a high priority for many enterprises.

Over 30% of the people who took part in the survey, implied that improvements to the customer experience had become the catalyst for significant changes within the business. Although it should be noted that most of the changes highlighted were aligned with improving product and service provisioning, as well as tertiary business methodologies such as supply chain management. This fact tells us that many of the companies involved in the study have progressed along the road to CX Maturity somewhat, as most commonly, the primary business changes driven by CXM at lower levels of maturity are to do with customer service and support.

When discussing Customer Experience Management projects planned for 2015, many participants highlighted a change of focus. One of the primary new priorities appears to be the development of a truly cross-channel customer journey.

Overall, this year’s CXM goals were primarily focused upon building customer loyalty and advocacy. Again, here we see compelling evidence that the companies taking part in the study have achieved at least a moderate level of CX Maturity. Otherwise we would expect to see customer satisfaction as a primary focus. Of course, customer satisfaction is a drive of customer loyalty and advocacy, but switch the focus over to primarily loyalty and advocacy would seem to suggest that these companies are looking to cash in on added benefits by boosting loyalty and advocacy over sheer satisfaction.

So it seems as if Customer Experience Management is definitely driving change within major corporations, and that many of these corporations are now attempting to re-iterate upon the CXM wins they have had so far, by shifting focus to more granular goals.

SandSIV provides an end-to-end platform for capturing, analyzing and actioning the Voice of the Customer that is capable of handling any shift of focus of Customer Experience Management priorities that a company could make.

[Total: 0    Average: 0/5]

No Comments Yet.

Leave a Reply

Your email address will not be published. Required fields are marked *