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One way some brands attempt to get a handle on everything is through CXM, or Customer Experience Management. CXM is a company’s system for tracking, overseeing, and influencing every physical and digital touchpoint for customer interactions. With CXM, the company’s interests may initially be at odds with the customer’s.
This amounts to free advertising, and word-of-mouth promotion is the best type of advertising there is. Customer experience management (CXM) is the process of surveying, analyzing, and enhancing customer interactions with your business. Survey data from Nielsen shines some light on this often-misunderstood concept.
CXM = The art and science of coaxing lifetime loyalty from daily transactions.”. He mentions how lifetime loyalty is what companies look for and the enabler for this is CXM or Customer experience management. Viral advertisements have lesser impact as compared to the overall long-term effect that customer satisfaction provides.
Not just brand loyalty, CX is a key factor when making purchase decisions, customer retention, and even word-of-mouth advertising. Here are some facts to convince you – Almost 92% of customers trust positive reviews from their family and friends more than advertising. How can technology enhance customer experience?
What is customer experience management (CEM or CXM)? It’s all about getting to know your consumers so well that you can build and provide tailored experiences that encourage them to not only stay loyal to you but also to spread the word about you to others – which is the most lucrative type of advertising there is.
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