It used to be that if you weren’t marketing-led, you’re dead.
That old saying needs updating.
Now, if you’re not customer experience-led, you’re dead.
That’s because customer experience (CX) isn’t just important, it’s paramount.
It’s how you will win or lose in today’s marketplace – whether you deliver pizza or offer an enterprise Saas solution.
And companies are investing heavily in CX to get the competitive edge.
According to the IDC, $641B is expected to be spent on CX technologies in 2022, over $130B more than in 2019.
One type of technology businesses are buying is customer experience management (CXM) solutions.
Customer experience management is a discipline that is aimed at understanding and providing customers with strategies to improve their satisfaction, loyalty, and advocacy.
There is a lot of different software and tools available to help companies improve their CXM.
If you’re a large or enterprise-type business looking to better manage the customer experience around the entire customer lifecycle, here’s a few solutions to consider.
Qualtric XM is a software program that is used for research to help you improve your experience management. Qualtrics has built in features like Text IQ, Stats IQ, and Predict IQ.
These features can be used to develop customer surveys and to perform analytics, which will help you better understand customer trends and behaviours, improving your overall customer experiences.
Qualtrics can be used for any sized business and some of their clients include Under Armour, L.L. Bean, and B.M.W.
Pros and Cons
Qualtrics is a reliable program for survey and customer analytics but it can be complicated to use and a little pricey, as the software price starts at $3,000 a year. Also, sometimes the program does not work as well on mobile devices, which is important for customer satisfaction.
Talkdesk is a cloud-based call center solution that helps businesses improve customer satisfaction, while limiting their customer support costs. Talkdesk uses interactive voice response (IVR), automatic call distribution (ACD) and skills-based routing to help your company with call monitoring, recording, and reporting. This program will help your company make data-driven decisions.
Talkdesk is a great resource for any size business, from enterprises to small organizations. Some of Talkdesk’s clients include IBM, Scotts, and Canon.
Pros and Cons
Talkdesk is a great affordable resource that costs about $29 per agent per month. Talkdesk is known for having great customer service, but it can be a little difficult to figure out and its audio can be unclear at times. Above all, it can help with call-center CX, but isn’t necessarily designed to deliver a better CX around the entire customer lifecycle.
Nice Satmetrix is another software program that combines direct and indirect feedback with operational metrics to help improve your CX. This software program allows you to perform dynamic analytics to help you gain insights into your customers’ behaviours.
Nice Satmetrix is a great tool that can be used for any size business and some of its clients include Exchange Bank, Pepco, and Ciox.
Pros and Cons
Nice Satmetrix is a great tool for setting up surveys that are flexible, easy to use, and come in many different languages. However, this program comes at a high cost of $3,000 and is Microsoft Office focused, which means it is not available on other platforms. Moreover, it helps you gain insight into your customer, but you still need the mechanisms to act on and improve the CX.
Sprinklr is another cloud-based platform that centralizes data from social media. It is great for social media management and it has features such as social data visualization, content marketing, and audience management. It provides smart content through Asset and Campaign Management, which helps build a detailed overview of your customers.
Sprinklr is great for small, medium, and large businesses. Some of Sprinklr’s clients include Bing, Allstate, and McDonald’s.
Pros and Cons
Sprinklr is a great social media management tool that helps to improve your CX. It is easy to use and helps you reach out to more customers on social media. On the other hand, it is an expensive platform that ranges from $60,000-$100,000 per year (customized pricing is available). As well, it’s more a social media management tool than a total CXM solution that engages customers around the entire customer lifecycle.
Adobe Experience Manager
Adobe Experience Manager is a content management solution that personalizes content for each customer. It offers intelligent tools and services to help deliver support to all audiences and channels. Adobe Experience Manager supports many different platforms and it delivers the best relevant and timely content to each customer.
Adobe Experience Manager is great for businesses of all sizes and some of its clients are Kellogg’s, Ford, and T-mobile.
Pros and Cons
Adobe Experience Manager is a great tool that helps to build brand loyalty and drive demand. It also allows for detailed report generation and customization of content. However, the program can be difficult to use for report building and is expensive with costs ranging from $250,000 to $1000000 per year. As well, it is content and digital-focused, which are only part of the entire customer experience.
BONDAI is a customer experience solution that combines technology and the human touch to help businesses drive more leads, loyalty, and advocacy.
BONDAI includes turnkey technologies like a branded community, CMS, gamification, loyalty and rewards, and AI and analytics and complements these with VIP offers, unique experiences, influencer engagement, and even corporate gifting.
The goal of BONDAI is to enable clients to reach “relationship enlightenment” where clients, prospects, and partners are “wowed” at every stage of the customer lifecycle.
BONDAI is custom built and priced for enterprise clients, who include Morgan Stanley, ECHO USA, and the CPA (see case studies).
Pros and Cons
BONDAI is a custom solution unique to each client, so it can be expensive and can take time and planning before it can be rolled out compared to an out of the box Saas. But it is the only solution that doesn’t just gather data and analytics, but helps deliver tangible CX like community, unique experiences, customer events, influencer engagement, special offers, and even gifts. In other words, going above and beyond the typical digital engagements to build better relationships.
Customer experience management is the future.
There is now a greater emphasis on customer experience than ever before. It is shown that “Experience-Driven businesses see over 1.5x higher YoY growth than other companies in customer retention, repeat purchase rates, and customer lifetime value”(Forrester and Adobe).
Experience-Driven businesses see over 1.5x higher YoY growth than other companies in customer retention, repeat purchase rates, and customer lifetime value”(Forrester and Adobe).
Brands that put focus on customer experience are more likely to see an increase in their revenue.
So, you’re either CX-led, or dead.