This change has brought about a revolution in the way brands (enterprises) look at customer experience. In fact, Gartner has predicted that this year, in 2017, 89 percent of the businesses will compete solely on the basis of customer experience.
Benefits of CX
A good CX policy helps in boosting customer loyalty and attracting new customers. This automatically leads to an increase in revenue, and thus, creates a competitive advantage. All these factors positively impact the inner working environment of the brand, and transform the organization through better employee engagement.
Roles and Metrics of CX
Customer experience reflects on the whole organization, and should be handled effectively by all the departments – HR, accounting, marketing, sales, IT, operations, etc. Since these departments have staff dedicated to specific functions, there should be a special owner who has a fair idea of how customer experience across departments should work. Brands have started designating a CCO (Chief Customer Officer) to that purpose. If not so, the CMO or the head of sales handles the CX requirements.
External metrics
NPS (Net Promoter Score) measured by the customer response to the question ‘How likely are you to recommend the brand’s services to friends, family, and colleagues?’ on a scale of 1-10 – is the primary indicator of the success of the CX policy. If the brand deals with products that do not have frequent purchasers, it should connect to the customers through a semi-annual or annual survey.
Internal metrics
Response time, and positive insights such as referrals received, and revenue earned from these referrals act as internal indicators of CX success. Also, negative insights such as customer churn rate – number of customers not making repeat purchase – can also rectify CX follies with the enterprise.
How Microsoft Dynamics can help achieve better CX
The best practices for a successful CX policy are to listen to the customers through various channels including social media, go out of the way to promote the brand, reach the customers on a personal level to create emotional connects, pay attention to the details, and above all – prioritize CX to the highest levels of organizational functions.
Having Microsoft Dynamics can help implement best in class CX policies that roll out successful PR strategies and marketing plans. Combining with figures from web analytics, interviews, and surveys, Microsoft Dynamics can equip the brand with personas, which define the ideal buyers of their products, and their typical behaviors during various market conditions through customer journey maps.
Experts inMicrosoft Dynamics Consulting can help the brand in:
#1. Collating customer information
Data gathered from individual data channels is meaningless unless it is combined, to yield actual customer behavior insights. Dynamics CRM allows every authorized employee to organize and access customer data to visualize its possible uses in various implementation strategies.
#2. Building personal relationships
Customers hate being generalized. Personas are an internal term, and define a broader view of customers. However, real customer insights can be gathered only by interacting them on a one-to-one basis through emails, social media, personalized marketing campaigns, etc. Dynamics CRM allows employees to monitor individual customer data, and establish this rapport.
#3. Discovering exact customer needs
The above individual monitoring also helps employees restock items in store, and suggest supporting/similar/relevant items to the customers who have bought a said product.
#4. Providing faster customer support
Customers expect their brands to tend to their queries and complaints immediately, as they indirectly pay money for the CX the brands provide. It is of vital importance that their incoming communications are responded to immediately. Dynamics CRM provides a comprehensive issue and response-tracking module that focuses on ticket raising and resolution.
#5. Staying in touch
The customer contact information can be leveraged (with their permission) to reach out to them about ongoing promotions, personal discounts, product suggestions, updates, etc. to create a sense of the brand paying close attention to its most valued asset – the loyal customer.
Because of all these factors, brands are increasingly relying on Microsoft Dynamics Consulting for their ERP requirements, which significantly boost the overall CX offered by the brand by providing their employees with the latest tools to communicate with their customers, and come up with unique marketing campaigns.