How to select a customer experience management platform

With so many customer experience management (CXM) platforms on the market, it cannot be easy to know which one is right for your business. We’ve compiled this guide with key questions when evaluating CXM solutions to make things easier. How will the platform help me improve my customer experience?

While all CXM platforms offer some level of customer data analysis or “listening” capabilities, there are significant differences in how deeply they can dive into the data. Some platforms are more sophisticated than others regarding analyzing unstructured data—like text from social media posts and reviews—and providing insights that can get integrated into your business strategy. What kind of integrations is available with other tools?

One of the most important considerations when evaluating a CXM platform is how it integrates with other systems in your organization, such as CRM and marketing automation. The best platforms offer an open API that allows you to integrate data from multiple sources into one central location.

 What are the benefits of a customer experience platform?

A customer experience management (CXM) platform can help you understand your customers better and deliver them a better overall experience. By collecting and analyzing data from all touchpoints, you can gain insights into how to improve every aspect of your customer experience—from product development to sales and marketing campaigns. You’ll also be able to create personalized interactions across each channel based on what’s most important for that particular customer at that moment in time.

You can also use a CXM platform to create a unified view of each customer, which makes it easy to personalize every interaction. By integrating data from multiple sources into one central location, you’ll be able to deliver a consistent experience across all channels. With a CXM platform, you can also create a unified view of each customer, which makes it easy to personalize every interaction. By integrating data from multiple sources into one central location, you’ll be able to deliver a consistent experience across all channels.

How do I determine if my business needs a CEM solution?

Customer engagement management (CEM) solutions are a great way for businesses to build and nurture customer relationships. Businesses that rely on new customer acquisition find a CEM solution particularly useful, as it allows them to build relationships from day one.

If you’re a B2B business, then a CEM solution can help you build relationships with your customers. The platform can also get used to create awareness of new products or services and provide support if issues arise during the purchasing process. If you’re a B2C business, then a CEM solution can help you build relationships with your customers.

The first step in determining whether you need a CEM platform is to understand your goals for using one. If you’re looking for more leads or increased revenue from existing clients, it might be worth exploring different options available in this space. 

 What should I look for when considering different CEM platforms?

When evaluating CEM solutions, it’s important to consider the following factors:

Price: How much does it cost? Will there be any additional fees for using the platform? What are your budget constraints? 

Functionality: Does the system have all the features you need, and is there room for expansion down the road? 

Support: What kind of support does each provider offer—will this be an onsite or off-site service?

Ease of Use: What is the user experience like? Does it require training, or will users be able to get up and running quickly? 

Scalability: Can this platform grow with your business needs over time?

ROI: How quickly will this solution pay for itself?

How do I measure the success of a CEM platform?

The key to measuring a CEM platform’s success is setting goals and measuring your performance against those goals. The most common metrics used are: 

Number of Leads Generated: How many leads were generated from the system?

Cost per Lead: What was the average cost per lead?

Conversion Rate: How many leads are converted into customers?

Customer Lifetime Value (CLV): How much money do customers spend over their lifetime with your business?

The more data you can collect and analyze, the better able you will be to measure your performance. What’s the return on investment (ROI) of your CEM platform?

How much revenue did it generate?

How many customers were acquired as a result of using the system?

What was the average cost per customer?

How long did it take for customers to become profitable?

What does the future hold for CEM platforms and technologies?

Companies are constantly looking to invest in solutions that will help them improve their bottom line and better serve their customers. As a result, CEM platforms will continue to evolve and become more sophisticated as they incorporate new technologies that enable businesses to communicate with their customers in more personal and engaging ways. 

As the CEM industry grows, businesses will get presented with more options than ever. That is why it has become increasingly important for companies to evaluate their needs and select a platform to help them achieve their goals. Usingthevoice of the customer tools is important as it helps receive feedback from different sources. 

At BizTech, businesses need to focus on the end goal of their CEM strategy. Whether you want to improve customer acquisition or retention rates, increase revenue and profitability or gain valuable insights into your customers’ behaviour, a solution can help you achieve these goals.

We have spent years developing expertise in this market and can provide companies with services ranging from implementation support to implementation consulting. We can also help you plan and execute your CEM strategy to align with your business goals. We can assist you with selecting, implementing, and ongoing management of a CEM tool. Whether you are looking for a complete solution or need help with one aspect of the process, we have the expertise to support you. 

Conclusion

No matter how well-designed, any customer experience management platform won’t have much of an impact if you don’t use it. Continual improvement is a process, and the path to success is paved with data. The key is working with your CXM platform provider to monitor your analytics and make adjustments as needed. If you trust that your CXM platform will assess your current situation and help lead you to a better one, you’ll be more likely to use it properly and reap the benefits. Otherwise, you could skip customer experience management altogether.