COGNIZANT CONSULTING
Helping organizations engage people and uncover insight from data to shape the products, services and experiences they offer
Learn More
  • Working to reshape business models, modernize products and enhance customer experiences to drive growth.
  • Reinventing and managing your most essential business processes with new ways of working.
  • Simplifying, modernizing and securing the IT infrastructure and applications that are the backbone of your business.
COGNIZANT CONSULTING
Helping organizations engage people and uncover insight from data to shape the products, services and experiences they offer
Learn More

Contact Us

THANKS FOR YOUR INTEREST IN COGNIZANT.

We'll be in touch soon!

x CLOSE

Refer back to this favorites tab during today's session for access to your selections.
Refer back to this favorites tab during today's session for access to your selections.x CLOSE

Perspectives

Customer Experience Management: The New Playbook

2015-07-07


In an era of fraying customer loyalty and tightening competition, manufacturers need a well-defined customer experience management strategy to enhance customer satisfaction and consequently, boost revenues. Here is a blueprint to help companies that manufacture in India create a successful CEM strategy.

In an era of fraying customer loyalty and tightening competition, manufacturers need a well-defined customer experience management strategy to enhance customer satisfaction and consequently, boost revenues. Here is a blueprint to help companies that manufacture in India create a successful CEM strategy.


In India's emerging economy, the traditional pyramid‑shaped social structure is shifting to one that is more diamond‑shaped, honed by the burgeoning middle‑class, the influx of global manufacturers to the attractive Indian market, the rise of millennials and their expectations and the advent of social media, which introduces entirely new levels of information access and avenues of expression. For the manufacturing industry, this new social structure unequivocally points in one direction: to the growing importance of customer experience management (CEM).

CEM is the strategic process of managing various customer touchpoints by providing what the customer wants when, where and how they want it. It should come as no surprise, then, that there is a high correlation between customer experience and revenues. 1 An emotionally connected customer is more likely to stick with the company for a longer time, increasing customer lifetime value and revenues. By extension, a satisfied and connected customer is more likely to recommend the company to others. 2 In the interest of profitability and long‑term sustainability, manufacturing companies in India should invest resources and energy into developing and implementing a comprehensive CEM program.

Based on our experience with various customers across industries, we have identified five main focus areas for developing a comprehensive CEM strategy (Figure 1):

Interactive

Figure 1

Focus Area 1: Process Management

A well‑defined process forms the backbone of a successful company. Manufacturers need to allocate a sufficient budget and appoint a CEM manager with authority over all departments involved in continuously planning and monitoring CEM activities across the company. These activities should be supported by an easily navigable and flexible buying cycle process that can keep even the most demanding customer satisfied. A well‑defined process also ensures a consistent experience for customers, regardless of channel. With mobile, social media and online shopping gaining importance, it is imperative that the process allows personalization of experiences, such as choice of channels, time of interaction and mode of payment.

Focus Area 2: Stakeholder Management

  • Organizational management, from designing to managing the organizational structure, is an important factor in all major business decisions and will go a long way toward enabling a company‑wide CEM initiative.

  • Employee management involves recognizing the skills required for customer‑facing employees, identifying and imparting the necessary training and instilling employees with decision‑making power when interacting with customers to adjust the experience to specific needs, wants and desires.

  • Ecosystem partner management: Organizations should gauge the CEM adoption level of potential partners before sealing the deal, as this can set the stage for a best practices exchange that results in a consistent experience at all customer touchpoints, across every partner.

Focus Area 3: Information Management

To deliver an exceptional customer experience, manufacturers need to develop a product data repository containing specifications, performance details and usage instructions. Details of competitors' products with a comparative analysis should also be captured. In addition to providing insights into customer sentiment, behavior and spending levels, the repository should act as the voice of the customer, enabling the manufacturer to continuously improve and fine‑tune the entire CEM process.

Focus Area 4: Communications Management

CEM success often hinges on the manufacturer's ability to manage and control its communication with employees, partners and customers. While traditional channels such as TV, newspaper and helplines remain important, modern channels — including social media, mobile, blogs and review sites — need to be actively managed to ensure all touchpoints provide a consistent customer experience. By deftly monitoring and making meaning from customer Code Halos — the digital data that surrounds people, processes, organizations and devices — manufacturers can make their communication more relevant to the customer. With the use of modern analytics tools to monitor site traffic, social media content analysis and behavioral Web analytics, companies can better understand their customers and follow through by delivering what they want even before they ask for it.

Focus Area 5: Performance Management

Employee metrics such as performance measurement and recognition for exceptional performance in the customer experience domain should be used as a source of motivation for employees. Companies should track customer metrics through customer satisfaction surveys, customer loyalty programs and sentiment analysis. CEM process metrics — which measure the impact of CEM programs on revenues, consistency of experience across channels and success in predicting future trends — should be used to obtain a true picture of the performance of CEM programs across the company.

Looking Ahead

In our experience with assisting companies in moving up the CEM maturity ladder, we find that organizations can improve their customer satisfaction scores by rewiring their internal operations and integrating robust analytics tools. With a deeper understanding of key CEM drivers in Indian manufacturing and adoption of CEM best practices elaborated in our whitepaper "Customer Experience Management: The New Playbook for Indian Manufacturing Organizations" [PDF], manufacturers can impact the customer experience, which will reflect positively on customer satisfaction and revenues. For more, visit Cognizant's Manufacturing Business Consulting Practice.

Footnotes 

1 Maxie Schmidt‑Subramanian, "The Business Impact of Customer Experience in 2014, " Forrester Research, Inc., March 27, 2014http://resources.moxiesoft.com/rs/moxiesoft/images/Business_Impact_Of_CX_2014.pdf.

2 Ibid.

Related Thinking

Save this article to your folders


Save

PERSPECTIVES

Dialing up Digital to Better Connect with...

A digital disconnect has emerged between Communication Service...

Save View

Save this article to your folders


Save

PERSPECTIVES

Context-Based Notifications for Travel &...

For the travel and hospitality industry, the age of mass marketing is...

Save View

Save this article to your folders


Save

PERSPECTIVES

The Rise of the Smart Product Economy

Forget about whether you're smarter than a fifth‑grader – how do you...

Save View
Customer Experience Management: The New Playbook