Customer Experience Management
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Customer experience management powered by Convin's AI-based automated contact center platform.
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Button TextWe all strive to throw the best party in town and earn popularity among our friends, don't we? But have we ever acknowledged the uninvited outcomes that follow?
Your friends hang out more at your place. They are in search of more opportunities for entertainment, including expanding the guest list by spreading the word amongst other friends and colleagues. And indirectly enjoy an exceptional experience themselves.
Customer experience is quite similar to how your friends behave. And hence CX management has turned into a highly discussed topic in the contact center space.
“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.” – Jeff Bezos
In today’s dynamic and competitive world, the room for poor customer experience is next to impossible. One mistake and your customers are this close to choosing a competitor over you.
Poor experiences could be as simple as being put on hold by a call center agent for straight 10 minutes and as bad as communicating misleading information to a customer.
While best customer experience is a relative theory, yet ruining a customer interaction is a risk that no organization can bear.
Losing current customers is an even bigger predicament because the cost of acquiring a customer is between 5 and 25 times more expensive than retaining existing clients.
Several companies have re-strategized their contact centers and introduced customer experience management, ensuring smooth and positive customer interaction on multiple channels.
To take CX management a notch higher, customer experience management tools are being explored and employed by several leaders. These automated tools leverage AI-driven solutions to scrutinize agent performance, go deeper in comprehending customer requirements, and drive customer satisfaction at every interaction.
Convin is one such tool that combines the power of conversation intelligence with automation to build a proactive customer experience management platform.
Let’s jump into the nitty gritty of customer experience management and then get more clarity on how Convin can help your organization create a positive and tailored experience.
What Is Customer Experience Management?
Customer experience management (CXM) refers to the numerous processes you undertake to ensure a smooth and hassle-free experience for your customers.
At its core, CXM is all about incorporating business-friendly practices tailored to improve customer satisfaction, loyalty, and advocacy. A satisfied customer is your company’s best bet for promotion!
5 Surprising Stats on Customer Experience Management
- 73% of companies with above-average customer experience perform better financially than their competitors.
- Customers switching companies due to poor service costs U.S. companies a total of $1.6 trillion.
- Loyal customers are five times more likely to purchase again and four times more likely to refer a friend to the company.
- Companies that excel at customer experience have 1.5 times more engaged employees than less customer-focused companies.
- 63% of CEOS want to rally organizations around customers as the top investment priority.
Customer experience management also entails analyzing buyers' behavior and using the analysis to provide a customized experience.
Why Does Customer Experience Management Matter?
In today’s cut-throat landscape, acquiring and holding customer attention has become the key to success. Customers are extremely spoilt for choice and won’t think twice before walking out on your business if taken lightly.
We can’t blame the customers. Brands like Netflix push great movie suggestions our way, Linkedin prompts opportunities to stay connected with influencers, and Fitbit tells us how long have we may have been sitting. When these brands do all the legwork for us and leave us with a satisfied smile, CX standards skyrocket out of the ceiling, creating more pressure on other brands.
A report suggests that more than 30% of customers would stop interacting with their beloved brand when they encounter a bad experience. In such a scenario, customer experience management becomes pivotal for leaving your competitors behind.
Customer experience management matters because it -
- Ensures each customer experience is unique, quick, and friendly.
- Pays attention to old and new customers.
- Targets enhanced customer loyalty.
- Turns customers into brand advocates.
- Reducing customer churn rate.
What Is Customer Experience Management Software? (ref)
Customer experience management software is a host of solutions that empower organizations to foster holistic relationships with customers.
The best customer experience tools help you understand customers’ responses to your business’s marketing efforts and then concrete steps to serve them even better!!
A customer experience tool for B2B and B2C firms further aids in capturing customer queries from multiple channels such as SMS, social media, email, etc.
What Are The Customer Experience Management Key Features?
1. Customer Feedback
The first step to CX is generating customer feedback. Gathering feedback should be a periodic event and tracked minutely. Feedbacks throw light on agents' call quality, product & services, company’s overall performance, market trends, and customer expectations.
2. Customer satisfaction
You can visualize a customer’s history of interactions with your business and devise suitable countermeasures. If the customer is reaching out to you for the first time, you can efficiently resolve their issues by accessing information from the knowledge base.
3. Ticket Handling
With customer experience management software, you can know the latest status of each customer ticket, thus avoiding any delays in resolution. You can also allot a particular ticket to an agent most capable of handling it.
4. Self-service
Modern-day customers want to resolve their queries first by themselves. Customer experience management encourages customers to find self-service options on the website and apps. If they want further assistance, the platform must enable them to reach out to one of the agents easily.
Why Invest In Customer Experience Management?
1. Engaging your customers
Just seeking customer satisfaction is not enough…you have to go two steps ahead and engage them. An engaged customer will advertise your service in their circles, thus bringing in leads who already have a positive image of your company.
2. Go above and beyond your regular offerings
With customer experience management, you have all the data about the exact needs of your customers. This empowers you not just to fulfill these needs but also to incentivize customers to stay loyal to your brand.
3. Informed and equipped employees
In a study, more than 80% of customers listed human interaction as a critical factor. So you realize that service reps are integral to customer experience management. This software makes seeking support and customer knowledge super easy for agents.
So even if they encounter a unique customer problem, they offer adequate assistance.
What’s the difference between CRM and CXM?
CRM refers to customer relationship management, and CXM refers to customer experience management.
CRM is concerned with handling customer interaction throughout the customer lifecycle. At the same time, CXM focuses on providing each customer with a positive experience to boost loyalty.
The significant difference between the two is that CXM uses the databases built by CRM tools to drive a better experience.
While CRM is dedicated to recording customer interactions to enforce customized solutions, CXM has a qualitative approach and focuses on refining customer trust in your brand.
How Can Contact Centers Improve Customer Experience?
1. Reduce hold time
Customers want a quick resolution of their grievances and don’t like to be put on hold.
By minimizing hold time, agents not only assist each customer efficiently but handle more calls in a day.
2. Seamless Call Flow Management
Make use of AI to direct calls to an agent most capable of solving the problem. And create automated guidance mechanisms for customers to choose the kind of service they want specifically.
3. Maintain Consistency
Modern-day customers can reach out to your business through multiple channels. As managers, you have to ensure that the quality of service is consistent across these channels, including social media, emails, forms, calls, etc. The aim should be to attract a wide range of customers and assist them first rather than waiting for them to approach you.
How Is AI Changing CX Today, And Where It’s Going?
Thanks to artificial intelligence, customer experience management has entered an entirely new domain. It’s empowering customers to take matters into their own hands, literally.
More and more companies are opting for chatbots that prompt an interaction the minute you land on a business website.
These chatbots help answer frequently asked customer questions, thus leaving ample time for agents to address pressing issues.
For a long time, call centers have been touted as a reactionary industry- their understanding of customer behavior is often too little, too late. But with AI, this trend is expected to change.
Contact centers are expected to become more proactive and use natural language processing (NLP) tools as the first line of customer interaction before they are routed to specialized agents. The application of call center monitoring software is gradually reforming the call quality and delivering exceptional customer interactions.
What Are The Questions To Ask When Evaluating Customer Experience Management Software?
Although customer experience management software has become necessary today, it doesn’t mean every software would fulfill all your needs.
Here is a checklist you can refer to when onboarding a CXM solution.
- Is the new software compatible with pre-existing solutions in your organization?
- Is the solution capable of gathering actionable insights from multiple channels where customers can reach out to you?
- Does the software record a history of customer interactions so that the next time they reach out, you can refer to the database and offer them an exceptional experience?
- Does the software just burden you with information, or does it present data neatly as intuitive dashboards?
- Can you get deep insights from the CXM solutions for guiding future business decisions?
How Does Convin’s Customer Experience Management Capabilities improve CSAT by 27%?
Convin is a versatile software solution that doesn’t claim to solve your contact center woos but resolves many challenges with a few capabilities. Customer management and experience creation is one area that Convin can help.
By employing automated tools and influencing agents' performance, elevating CSAT by 27% is only a matter of time.
Let’s dive in and learn how Convin can help with CXM.
1. Focus on active listening, and eliminate repetitive tasks
Dedicatedly working on customer-centric tasks have a higher chance of creating the best customer experience.
Ditch note-taking and manual call review. Focus on listening to the customer and developing strategies for high-quality follow-up meetings. In parallel, switch to automated call scoring and get 100% of calls reviewed without human interference.
2. Access to key customer moments
Conversation intelligence extracts crictical moments from the call recordings to put forward customers' requirements for the next meeting. These key moments also reflect the customer's real intention and offer brownie points for creating a positive customer experience.
3. Discover call best practices
Convin offers an intuitive insight dashboard that displays actions, behaviors, and phrases with a higher probability of call success. Investing in the best practices of top-performers ensures higher CX in every contact center conversation.
4. Nurture customer-friendly agents
Automated coaching targets and treats every agent as a unique entity and assists them in unlearning old tricks and learning customer-friendly methods. Personalized coaching can make every agent your best performing agent and ensure exceptional CX delivery in every interaction.
5. Proactive measures with violation alerts
One aspect of a call that can ruin customer experience is an unsolicited agent behavior that negatively impacts clients. Screaming, abusive language, misleading information, flawed statements, incorrect knowledge, and more are timely caught by Convin’s tool and alert the management team for corrective actions.
6. Learn customer sentiments
Customer sentiment presents the accurate picture of a call. How was the customer's overall experience during the call? And presents the chances of a new call or a painful goodbye.
What Are The Product Capabilities Of Convin?
Convin monitors and analyzes 100% of calls automatically based on custom parameters set by your organization. The conversation analysis offers winning behavior identification and last-mile automated agent coaching.
1. Automated Quality Management
Convin’s call center tool automatically reviews 100% of customer calls using custom call evaluation forms and spots agent performance challenges and unhappy customer conversations. Through automated quality management, managers and QA generate call scores that help establish coaching needs and staff dissatisfaction.
2. Call Behavior Analysis
With the help of conversation insights and deal status, Convin presents parameters that drive positive and negative outcomes for the business. Spot violations, winning parameters, customer sentiments, and threats to take proactive measures before customer calls.
3. Automated agent coaching
Convin’s system automatically generates coaching opportunities after reviewing agent performance. Based on the AI-driven call scores- good, average, and poor performers are identified, and the platform triggers personalized agent coaching based on the requirement. Coaching instances are extracted from the top performers' conversations and best practices. This method improves call handling quality and reduces supervisor escalations to a large extent.
4. Conversation intelligence
CI records, transcribes, and analyzes conversations to generate call insights and transcriptions. The conversation intelligence software discourages manual conversation review and all other non-sales activities by automating notes, action items, and CRM entries.
Access agent performance KPI and customer experience quality criteria to produce consumable role-based reports pinpointing key challenges and opportunities. These reports are not only available on the Convin platform but are periodically emailed to the managers.
Convin’s Call Monitoring system is safe and secure
At Convin, we understand the customer and call data security importance; that’s why we ensure your data is completely secure and safe in our in-house transcription and NLP engine. We ensure call data security in the following ways:
- In-house transcription and NLP
- Secure login and monitoring
- Hosted on AWS
- SSL data encryption
- Role-based access control
- Enterprise-grade application monitoring
- GDPR compliant meeting recording
And before you go, as of now, Convin supports English, Hindi, and Hinglish. And it takes less than a week to get you onboarded, so don’t wait, schedule a demo right away!
Manage customer experience with Convin.
