Architecting the roadmaps to excel at customer experience management (CXM) is incontrovertible for B2B marketers. B2B marketing starts with customers & ends with them. Marketers need to define the customer experience indexes for their brands so that they can evaluate the standards of their customer experience quality & can also competitively benchmark them. CX Index helps brands in benchmarking another all-important metric related to Customer Experience (also known as CX) which for marketers lays the foundation to excel at Customer Experience Management (CXM).
According to a recent report by CustomerThink 74% of the respondents acceded that by the year 2020, customer experience will surpass price & product as the key brand differentiator.
In an era of multichannel marketing & the Internet of Things (IoT) B2B marketers need to look beyond the traditional methods to excel at the customer experience management. The customers’ journey has evolved & so, the marketers too have shifted their focus to the intent based targeting of the prospects to optimize their experiences.
The importance of customer experience management can be realized by the following benefits:
- CXM leads to better collaboration & more efficient cross-departmental & team functionalities
- Focusing on ways to excel at customer experience management (CXM) can give marketers insights into where to spend their time & money & fix the loopholes in their marketing strategies
- An improved Net Promoter Score (NPS) is an outcome of optimized CX
- According to a research by London School of Economics (LSE) a 7% increase in NPS leads to corresponding 1% increase in the sales revenue
How to Excel At Customer Experience Management (CXM)
In today’s technology driven world, it is important for marketers to leverage customer experience technologies to excel at customer experience management (CXM). With the advent of technologies & amalgamation of new technologies to aid the customer research process, the buyers’ journeys have evolved beyond the funnel structure to be more like a loop. The customer research is now just not limited to the awareness stage of the buyers’ cycle but is equally spurred across all the stages of customers’ buying cycles.
Customer experience management (CXM) is now no longer the end goal for the brands as it conventionally used to be. So, to excel at customer experience management, the marketers need to take care of their experiences across omnichannel right after the prospects are defined. CXM is a goal equally important to marketers as the sales endeavors & runs simultaneously to the sales cycle optimization process.
The major problem that B2B marketers face to excel at customer experience management (CXM) is that CXM is neither the core component of their organizational strategy nor it is deeply ingrained in their company culture.
In today’s experience-driven economy it is important for marketers to excel at customer experience management, which essentially operates amidst sales continuum & isn’t a post-checkout process.
The following ways can help the B2B marketers to excel at customer experience management (CXM):
The marketers need to define & refine their niche specific personas several times before they decide to stick to a final form. The segmentation can be done on the basis of demographic, technographic, firmographic, psychographic, intent-data as well as on the basis of the fit-data.
Once a persona is clearly defined & their behavioral insights along omnichanel marketing channels are monitored, the marketers can tweak suitable steps to excel at customer experience management (CXM).
Defining a good persona includes:
- Understanding their role in the decision-making process
- What influences their decision
- Emotional drives of the persona
- Digitized & non-digitized platforms that influence the personas
- Mirroring audiences to persona to increase their volume efficiently
- Functional elements for market segmentation such as industry type of persona, its size, their business locations etc.
The analysis of the intent data from omnichannel including the first & the third-party intent signals helps the marketers in deducing what their audiences are looking for. This also gives marketers clues to optimize & excel at customer experience management (CXM) endeavors.
Implicit intent targeting can be deployed by gathering insights from the emotional analysis of prospects.
3. Choose The Correct Tools to Excel at Customer Experience Management (CXM):
The B2B marketers need to choose a tool wisely to excel at customer experience management (CXM). The market is studded with several tools that capture a full view of customer journey & deliver the hyper-personalization that the customers strive for. The modern tools such as Adobe Experience Manager, InMoment, IBM Digital Experience Manager, NICE Satmetrix & Qualtrics Customer Experience have been designed to compile & interpret the unstructured feedbacks of customers to obtain the in-depth insights on customers & to optimize & excel at customer experience management (CXM).
The Chief Marketing Officers (CMOs) & the Chief Experience Officers (CXOs) need to the power of predictive analytics which in turn operates on the principles of AI & machine learning.
Natural Language Processing (NLP) coalesces the insights from human behaviors & customer-generated intent signals to help marketers make better data-driven decisions to excel at customer experience management (CXM).
5. Use Chatbots:
According to a report by Gartner by the year 2021, more than 50% of the enterprises will be spending more on creating bots than the traditional mobile app development.
Chatbots have proved their impact with deliverance of impactful messages in real-time & in an efficient manner & are vital parts of modern customer service & reporting architecture.
Chatbots synergized with Natural Language Processing (NLPs) have proved to be models in omnichannel reputation management for brands. Bots help marketers excel at customer experience management (CXM) by leveraging businesses’ abilities to meet customers’ expectations in real-time (based on the predictive & real-time insights).
6. Show sheer Commitment to Customers:
To excel at customer experience management (CXM, the marketers need to proactively satisfy customers’ needs in order to make them feel valued.
According to McKinsey, less than 30% of companies have the highly collaborative culture to suffice the requirements of shared commitment to customer centricity.
Having dedicated teams for customer experience teams & cross-functionality between teams & departments help brands excel at customer experience management (CXM).
7. Understanding & Fulfilling Customers’ Requirements :
The marketers need to look beyond their myopic vision of best pricing & need to realize that customers’ demands are diverse & evolving and need to be customized, cost-efficient & easily deliverable to match their requirements.
Marketers need to realize that they need to have empathy towards both the explicit & implicit buying intents of the customers & should also keep in mind the functional needs (quality & value for money) of the customers.
8. Provide Customers with Seamless Omnichannel Experiences:
Providing seamless omnichannel experience is all about delivering the right pieces of information to the customers on right time & at right place which often resonates with their preferred social media channels & other platforms across the web where they prefer to hang-out.
To excel at customer experience management (CXM) markers need to make customers’ lives simpler, more convenient & hassles-free.
9. Be Proactive:
Marketers need to be proactive to provide customers with timely delivery & need to respond to their communications & doubts on time. The sooner the marketers respond to the pain-points of the customers, showing them the value proposition of the products or services, the more chances is that they would expedite the sales cycles of the customers.
10. Evolve According to The Needs of Customers: Employ Social Listening:
Owing to the technology & external geo-political factors such as legislation, the customers’ needs as well as behaviors change.
To excel at customer experience management (CXM) marketers need to employ agile technologies & should map their customers’ journeys from end-to-end. This includes performing SWOT analysis & introspecting how customers’ journeys evolve over a while. Social listening can help marketers analyze & reengineer their approaches to customer experience management.
Wrapping It Up
To excel at customer experience management (CXM) marketers not only need to reinvent their approaches to discover, engage & convert the prospects & provide them with exemplary after-sales services but also need to invest in CXM tools. The intricate digitized landscape of B2B dominion requires marketers to opt for integrated & inclusive CXM platforms which will help them to optimize their omnichannel reputation management, brand resonance & ultimately their sales revenues.
We, at Valasys Media, employ an array of services such as lead generation, account-based marketing, lead nurturing, event promotion services, list building services & content syndication services to help ourB2B clients optimize their customers’ experiences (CX) & bolster their Return on Investment (ROI).
For deciphering the recipes to perennially healthy sales pipelines, get in touch with our team of experts.