Why CXM is the next step in customer interaction
CIO — As if we didn’t have enough abbreviations and acronyms, along comes CXM (or Customer Experience Management). But what exactly is CXM and what makes it different from CRM? Why should organizations be embracing CXM? And what type of organization benefits most?
CIO.com asked customer experience experts and executives to explain and provide suggestions on how companies can get the most out of CXM.
“When CRM came of age in the late 1980s and early 1990s, the focus was on improving internal processes to better support customers, reducing cost and increasing satisfaction—with a heavy emphasis on reducing cost,” says Marchai Bruchey, chief marketing officer at Thunderhead, a provider of customer communications management services. “It was an inside-out view of how to manage a relationship with customers.”
CXM, on the other hand, takes an “outside-in” approach.
“CXM is proactive, even anticipatory,” notes Peter Flynn, vice president of worldwide customer service with Stratus Technologies, an uptime service provider. “CXM proactively initiates contact, delivers content, preemptively solves problems and understands customer preferences, often before the customer requests it or knows they need it.”
In addition, “CXM seeks to address the experience customers have with companies over time, with the aim of making each interaction a positive one, so that there is a cumulative effect on satisfaction and on loyalty,” says Richard Vermillion, CEO of Fulcrum, a company specializing in marketing technology and analytics.
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