Marketers need customer experience tools more than they think
Marketers may think customer experience tools are just a fad, but some say the only way to effect any real change in the minds and pocketbooks of customers is to admit that CX tools are an asset, not a hindrance, to meeting sales and marketing goals. "Marketers who ignore the influence of marketing on customer experience do so at their peril," argued Direct Marketing News's Cindy Waxer.
"Consider this: A slight improvement to the customer experience at a typical $1 billion company can produce an additional $262 million to $272 million in revenues over three years, according to the Temkin Group report 'ROI of Customer Experience, 2014,'" noted Waxer. "Conversely, research by CX cloud provider SDL reveals that, in the year following customers having a poor experience, brands can expect to lose 65 percent of the previous revenue from those customers. What's more, 64 percent of those customers will stop recommending a brand, leave, or give negative reviews."
Industry experts predict a dramatic upswing in the sale of customer management tools in the coming years, especially those designed to help bring consistent brand messaging to customers. Between digital, social and mobile channels alone, there are simply too many customer engagement opportunities – and potential fail points – to manage without bringing in the CX big guns.
"The challenge for marketers in today's omnichannel world is the complexity of ensuring a positive customer experience. It requires understanding how multiple channels, tactics, and touchpoints can shape a customer's thoughts and feelings about a brand. Messaging, email, mobile, brand promise, loyalty programs – they're all among the myriad ways that marketing can either win over a lifetime's worth of wallet-share or alienate customers altogether," Waxler said.
There are a myriad of tools available to help marketers put their best foot forward throughout the entire customer lifecycle. Marketers need to think beyond CRM and social media management platforms. A recent study [.pdf] by Salesforce revealed marketers rely on no less than 10 types of technology to manage the customer journey in its entirety.
The vast majority, 86 percent, of senior-level marketing executives agree that managing the entire customer experience is vital. The most successful organizations aren't afraid to use a variety of tools and tech to help achieve that goal. "The best-rated technologies varied widely in their functionalities, from content management to social listening tools, demonstrating that customer journey touchpoints can transpire anywhere and require specialized attention to meet customer needs," said researchers.