Customer Experience Management Software: Meaning, Features & Benefits

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  • Post last modified:July 10, 2024
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     A brand’s relationship with a customer can span across multiple touchpoints. For other industries (finance and automobile), the relationship can span across years. It becomes critical to track interaction, satisfaction levels for every customer. To help ease this task, a customer experience management software is an integral part of every business. 

    What is Customer Experience Management Software?

    Customer Experience Management (CXM) software, also known as Customer Relationship Management (CRM) software. It is a tool designed to help businesses manage and improve their interactions with customers throughout the customer lifecycle. The primary goal of CXM software is to focus on customer satisfaction, loyalty, and retention. The software offers facilities to track conversations at touchpoints, curate feedback surveys and analytic features.  

    10 features and function of a CXM software:

    1.Customer Data Management: Collects and stores detailed customer information. This includes contact details, purchase history, preferences, and interactions across various touchpoints.

    2.Customer Journey Mapping: Tracks and analyzes the customer journey from the initial contact to post-purchase support.

    3.Personalization: Enables businesses to deliver personalized experiences based on customer data, preferences, and behaviors.

    4.Multi-Channel Integration: Integrates with various communication channels (e.g. WhatsApp surveys, web chatbot surveys, Facebook messenger, dynamic email, social media or phone) to provide a unified view of customer interactions across all channels.

    5.Customer Feedback and Surveys: Collects and analyzes customer feedback through surveys, reviews, and social media to gain insights into qualitative and quantitative feedback.

    6. Analytics and Reporting: Provides detailed analytics and reporting on customer interactions, behaviors, and satisfaction levels for data-driven decisions.

    7. Automation: Automates repetitive tasks such as follow-up emails, customer segmentation and campaign management.

    8. Customer Support and Service: Includes tools for managing customer support tickets, live chat ensuring timely and effective ways to close the feedback loop.

    9. Marketing Automation: Integrates with marketing tools to automate campaigns, track their effectiveness, and improve customer targeting and engagement.

    10. Sales Management: Supports sales teams with lead management, opportunity tracking, and pipeline management to optimize sales processes.

    5 Benefits of Using a CXM Software

    Benefit 1: Enhanced Customer Engagement

    Enhanced customer engagement is a key benefit of using real-time features in a CXM platform. With instant communication and engagement, businesses can increase overall customer satisfaction. Real-time data and analytics provide valuable insights into customer behavior. This enables businesses to tailor their strategies and offerings accordingly. Promptly addressing customer concerns through in-moment feedback and review improves customer loyalty and retention.

    Boost customer engagement and retention

    Real time features in CX management software have the power to significantly boost customer engagement. These features enable personalized interactions with customers. The sense of urgency and excitement created by real-time features encourages customers to take immediate action. This brings increased customer engagement.

    Benefit 2: Improved Decision Making

    Real time data empowers organizations to make faster, well-informed decisions. By leveraging real time analytics, marketers can gain up-to-date insights into customer behavior and preferences. Real time feedback serves as a valuable tool for immediate adjustments to marketing campaigns. Marketers can identify and address issues or opportunities as they arise. Teams can minimize potential negative impacts and maximize positive outcomes.

    Create informed decision making

    People create insights and insights drive decisions. Real time features provide instant access to up-to-date customer data. This results in improved customer satisfaction as issues are identified and addressed promptly. Additionally, real time data allows businesses to track trends and patterns for proactive decision-making. With the ability to capitalize on opportunities as they arise, real-time features give businesses a competitive advantage.

    Benefit 3: Increased Operational Efficiency

    Real time collaboration and communication improve team productivity and coordination. Incorporating these real time features into CXM software allows organisations to optimize their operational processes.

    The connection between efficiency and CXM software

    Accessing real time data and insights enables businesses to identify and resolve operational bottlenecks. Streamlined communication and collaboration across teams are made possible through real time features. This also promotes efficiency in customer service and support. Real time monitoring allows for prompt identification and resolution of issues for minimum downtime and disruptions.

    Benefit 4: Optimized Marketing Efforts

    Real time analytics help identify and capitalize on emerging trends. Brands can quickly optimize their marketing strategies for maximum impact. Additionally, real time tracking of customer behavior provides valuable insights that help improve customer engagement and loyalty.

    Marketing analytics from your CXM software

    Marketing and CXM software are a dynamic duo that can revolutionize your business. Tap into the power of real time data to tailor your campaigns based on up-to-the-minute customer insights. This enables you to deliver personalized messaging that resonates with your audience. Real time features also allow you to track campaign performance, giving you the ability to make immediate adjustments.

    Benefit 5: Better Customer Service Delivery

    The organizational support team can address customer inquiries and issues promptly with immediate response capabilities. It can also enable businesses to identify and meet customer needs. This results in faster problem resolution, improved customer satisfaction and targeted interactions. Real-time notifications keep businesses informed about customer activities. This allows for proactive engagement and timely interventions. Collaboration and communication features improve efficiency and productivity. Faster feedback and sentiment analysis capabilities enable businesses to quickly assess customer sentiment. They can make necessary adjustments for continuous improvement and customer loyalty.

    The impact of customer service on customer experience

    Customer service plays a crucial role in shaping the overall customer experience. With real time features in CXM software, businesses can achieve prompt problem-solving, leading to reduced customer frustration and increased efficiency. Additionally, real time data and insights enable customer service agents to personalize interactions, creating a more positive experience for customers.

    A Robust Customer Feedback Platform for the New Age Marketer

    A well built customer relationship management CRM platform can work wonders for your business. You can opt for a live chat functionality which in itself is real time in feature. That way, the customer support team can conduct feedback phone calls or capture feedback right as they come. However, not every medium can truly capture customer feedback with a higher success rate.

    Merren is a robust customer feedback platform that can offer customer satisfaction metrics of net promoter score, customer satisfaction score (CSAT) and customer effort score  (CES) surveys. You can deploy surveys via messenger apps and dynamic emails. That way, marketing professionals can prevent customer churn and bring real-time insights to their CX dashboard. A well-equipped customer experience management platform needs a robust customer feedback platform.

    Conclusion

    Sign up for a 14 day free trial with Merren and supercharge the way you collect feedback. Using automation and a multichannel approach, organisations can work on customer retention based on genuine analytics and user responses. Empower your customer support agents to conduct surveys using the multichannel approach. Reach out to your customers in their mobile app and gather feedback in-moment. Understand what drives greater customer satisfaction and upgrade the way you conduct market research. Create your own WhatsApp surveys in 5 minutes or build your own dynamic email surveys.