Connect your customer experience management efforts across the company, and enjoy exponential benefits, according to the 2011 Business-to-Business Customer Experience Management Benchmarking Study.
Companies with managers (of their top five methods to achieve CEM goals) who meet together quarterly or more often for coordination purposes, or have dotted-line reporting to a single executive or committee tend to enjoy advantages* in the following areas:
- Role of CEM: Top management’s day-to-day activities indicating that customer experience is a competitive differentiator, CEM is a formal business process, and CEM is an influencer of major business decisions.
- Voice of Customer: Identify and collect voice of the customer form all Continue reading
The 2nd Annual ClearAction Business-to-Business Customer Experience Management (CEM) Benchmarking Study has identified six best practices for strong market performance and customer experience excellence:
- Coordination among managers of CEM methods.
- CEM as a determinant of corporate strategy.
- Presentation of survey results to all employees.
- Calculation of customer lifetime value (CLV).
- Action on survey results by owners of customer experience key drivers.
- Funding of cross-organizational collaboration.
These findings may be instrumental to the future of customer experience as the majority of companies have not yet implemented the above practices. Among the firms that are implementing most or all of these best practices, CEM-related business performance is much stronger and other CEM best practices are also more abundant.
Examples of business results attributed to customer experience management efforts include:
- 200% growth in profit over the past 4 years. (Chemicals)
- 200% increase in market share over the past 4 years. (Semiconductors)