CEO Global Magazine Vol 22 Issue 3

Page 26

CUSTOMER JOURNEY MANAGEMENT (CJM) CAN HELP BUSINESS OWNERS BOOST CUSTOMER SATISFACTION, INCREASE SALES AND REVENUES. THIS IS A METHOD OF OPTIMISING THE ONLINE AND IN-STORE CUSTOMER EXPERIENCE, OFTEN REFERRED TO AS EXPERIENCE OPTIMISATION OR JOURNEY MAPPING.

USING TECH TO INFLUENCE CUSTOMER BEHAVIOUR ustomer journey management is far more panoptic and extensive than the common practice of customer relationship management (CRM). It combines technology and behavioural science to show one how to develop plans for every step of customer interaction.

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More importantly, it uses science to encourage behaviours from customers, like taking action on content, filling out forms or purchasing suggested items.

Businesses can benefit from developing a detailed customer journey map to better understand their company’s interactions with their customers. However, they need the necessary tools like Optimizely to evaluate their customer interactions and to develop strategies for improvement through an omnichannel strategy. Modern customers are looking for more than a product. People are far savvier with their shopping habits. To keep their attention, one needs to give them the experience they seek. Studies have shown that 66% of corporations believe they are coordinating a successful customer-centric experience, but the hard truth is that 44% of industry leaders say it is not enough. CJM incorporates behaviour analysis to discover areas in which the business can improve. Today’s shoppers are looking for more than simply the lowest product price. Marketing research demonstrates that 64% of shoppers will switch brands for any number of reasons per customer data. Number one being customers want an effortless shopping experience, and if they think they can get it elsewhere, they will. Managing the customer interactions from beginning to end will ensure customer retention, more referrals, increase upselling and engagement and improve the marketing ROI.

BEST PRACTICES IN CJM Companies of all sizes are looking to increase the quality perceived by their customers. Nearly two-thirds of companies today are using customer journey management to try to edge out the competition. An increase in revenue is experienced by 84% of companies that focus on their customer journey. The customer journey is the defining piece of the puzzle to outperform the competition. Here is a guideline on how to implement customer journey management:

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VOL 22

ISSUE 3

CEO GLOBAL MAGAZINE.COM


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