Customer Experience Management: What Every CX Leader Should Know

Are you trying to lay the groundwork for a standout customer experience management (CEM) program? Is your organization looking to evolve its CX maturity? Neither of these are easy corporate initiatives, but they are necessary for survival in the Age of the Customer. 

This blog introduces one of the main challenges CX professionals face when initiating a CEM program and provides you with a CX key terms glossary to get you started on your journey towards CX transformation!

Technology has empowered customers with countless choices at the tips of their fingers - giving them the freedom to behave differently, and resulting in an increasingly less loyal customer.

Gone are the days of differentiation based on product or price. It has become essential for organizations to differentiate themselves through the experiences they provide.

One of the biggest challenges CX professionals face is how to implement a CX program throughout their organization when faced with processes, support, and organizational structure that impedes their success.

But if customer experience is so important for businesses, why is it so difficult to get buy in from c-suite executives to implement a consistent CX transformation plan?

CX pros are looking for ways to prove the link between CX efforts and financial results.

Investing in CX drives business results. A totally satisfied customer leads to 2.6 times as much revenue as a somewhat satisfied customer and 14 times as much revenue as a somewhat dissatisfied customer.

Customers who feel valued are more likely to stick to a brand then customers who have a poor experience. Great customer experiences drive company growth as a happy customer will advocate for your brand and spread the word.

Ultimately, CX pros need a plan of attack and a play book to get buy in from executives to tackle these issues.

So, what’s the first step towards CX transformation?

You must understand the industry and the technology available to help you in your CX transformation efforts.

We’ve created a glossary of key terms, acronyms, and general terminology used within the customer experience industry by CX professionals, thought leaders, and analysts. Read it, memorize it, share it with your organization. We've compiled it into a simple three-page PDF so you can keep it in your back pocket.

If you have any comments or would like to add to this glossary, please drop us a line at marketing@intouchinsight.com and stay tuned for more helpful CX tools and resources!