Raise your hand if you find it tiring to keep up with the daily changes in digital technology. Every day, every minute even, there seems to be a new and exciting feature being unveiled for the tech industry to marvel at. Feeling overwhelmed yet? Don’t worry, you’re not alone. According to a new survey, it’s estimated that 72 percent of small businesses find themselves feeling overwhelmed. It’s important to realize that your small business isn’t the only one going through these challenging times.
Even in the midst of a lucrative digital economy, with such rapid developments, it can be difficult for small businesses to stay afloat; let alone maintain their ranks alongside the bigger corporations. As we see the global marketplace increase, small businesses are asked to compete with larger organizations like never before. We’re not just talking Robotic Process Automation (RPA) and AI virtual assistants here, these transitions may seem as modest as the switch from CRM to CXM. One thing’s for certain: the online market will always be the consumer’s playground. Thanks to the likes of social media and eCommerce, there’s been a shift in power from seller to buyer. How can we ensure the buyer is having their ideal experience? The answer lies with CXM.
“What’s the hype over this buzzword and what does it mean for my business?” Are questions which may come to mind. CXM (Customer Experience Marketing), is a strategic method of customer-centric touch points focusing on the client’s experience at every connection. The purpose of CXM is to optimize interactions from the perspective of the customer while fostering overall customer loyalty. The bottom line: CXM is a HUGE asset to small businesses competing with bigger companies. Here’s some reasons to consider implementing CXM into your business strategy:
Customer Experience Management Is More Important Than The Product
Let’s just go ahead and say it, ”customer first” must be over every other “first”. A statistic says customers are willing to pay 14-18% more on quality items based on the customer experience they receive. Another statistic shows 86% more customers are willing to pay for a great customer experience. Think back to your last consumer experience and how the service was. Did you feel heard? Were your needs met? How satisfied were you from initial encounter to result? At the core, a business needs to be obsessed with customer success. It may sound dramatic, but it’s true. This is exactly what the CXM strategy emphasizes.
CXM Looks To Meet The Need And Fix The Pain Point
If we only knew the amount of money put into creating the ideal software system. A system that gives companies a day-to-day analysis of their customers. The purpose behind this model software isn’t just to throw money towards “the next big trend in the global market”. It’s centered around creating experiences that are personal, memorable and exceed the needs of the customer. Think about it. How well do you actually listen to your customer? Compiling data is valuable, but nothing compares to hearing from your customer’s personal needs and experiences. CXM focuses on empathy mapping and customer experience design development as methods for anticipating the needs and solving the problems of the customer. This is where most companies implement a customer experience software.
CXM Pushes For Brand Quality And Customer Satisfaction
CXM Pushes your platform for brand quality and customer satisfaction. It’s no secret there’s been a massive shift from the brand being in control to the customer having majority influence. WIth companies like Apple, Southwest Airlines and Target as customer-centric trailblazers, customers are groomed to expect value and personalized service at every touchpoint. Now take a deep breath and ask yourself, “Is our goal to see our business through the eyes of the customer?” If the answer is not a resounding yes, then it’s time to reevaluate your business model. Bottom line: the customer’s experience needs to matter to you. CXM systems help you do that effectively. The quality of your brand is critical to customer loyalty and cannot be stressed enough. Talk is cheap. At the end of it all, the customer will want to see you deliver on your promises.
Finding The Right CXM For Your Business
Since you’ve been able to establish your business’ top priority as exceeding customer expectations at every touchpoint, now the question is, “how do I know what CXM software is right for me?” Most small business owners don’t feel they have the time or means to put towards learning a complex software system. A simple, straightforward platform is not just ideal, it’s a must. Thryv’s all-in-one management software is built with the small business in mind. Look for software that combines your reviews, ratings, active social presence, and accurate search results into one organized, simple platform. These platforms help you effectively automate tasks and put your customers at the center of your business. With these properly integrated, you can immediately reach more customers, stay organized, get paid faster, and generate automated reviews.
There are several reasons for small business owners to integrate CXM software. Customer experience management is more important than the product itself in many crucial aspects. CXM software looks to directly solve consumer pain points. At the same time, CXM adds to brand quality and customer satisfaction for your business. Once you identify the benefits, the final challenge lays with finding the right CXM software for your small business. Consider the points mentioned above to learn about why your business needs to be using CXM.