Executive Briefs

Customer Experience Management

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Executive Brief–Customer Experience Management | 1 For many years, consumer goods companies and retailers have tirelessly worked to deliver omnichannel commerce that streamlines and coordinates transactions across sales channels in physical and digital stores. Now, these companies are looking to take their ominchannel interactions with customers a step further. They want to cultivate exceptional customer experiences for every interaction a consumer has with a brand. The key focus for this effort is known as customer experience management, or CEM — the ability to understand consumers, anticipate their needs and engage them with timely, relevant messages. CEM goes hand in hand with omnichannel commerce as consumer goods brands and retailers continue to transition from product-centric to consumer-centric operations and marketing. This shift comes amid soaring consumer expectations for a relevant experience with their favorite brands, whether they're browsing a website, using a mobile app, shopping in a physical store, or talking on the phone with a service representative. Consumers no longer buy on price and selection alone. They value relationships with brands that cater to their individual needs. Connecting applications, data, people and processes is crucial for effective CEM. The organization needs seamless orchestration across software systems, channels, products, regions and lines of business. That's essential to building 360-degree consumer profiles and optimizing interactions across multiple touchpoints. To capitalize on CEM's potential to engage customers and drive revenue, consumer goods companies and retailers need high quality, integrated data on demand. They also need workflow automation across multiple business functions, as well as capabilities to utilize APIs to unlock data and deliver innovative customer experiences. In short, a retail brand needs to run as a connected business. The Impact of Fragmented Data Unfortunately, data about consumers and products is highly fragmented across multiple internal and external sources. Without unified data, marketing teams are left to piece together isolated campaigns that are far from the ideal of real-time consumer engagement across any channel. A patchwork approach to CEM makes it difficult to create a single view of customers and products. Siloed operations also add redundancies, inefficiencies and costs for retailers with already slim profit margins. The risk of revenue loss and customer churn is high. EXECUTIVE BRIEF– CUSTOMER EXPERIENCE MANAGEMENT Customer Experience Management and the Connected Business The Role of Intelligent Data Orchestration for Omnichannel Retail

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