One Transaction at a Time: Businesses Fail to Deliver on CEM Programs
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A new study from Avaya investigates the emphasis companies are putting on customer experience management (CEM) and finds that increasingly high expectations are creating a business environment where the majority of organizations are struggling to keep up. While CEM programs are being undertaken on a global scale by businesses of all sizes, the Avaya survey found that China leads the pack with 84 percent of businesses having a CEM solution followed by U.S. (73), India (72), Brazil (63).
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One Transaction at a Time: Businesses Fail to Deliver on CEM Programs
- 1. 1 Independent Market Research by Commissioned by
- 2. 2 TAKEAWAY: Businesses are failing to meet evolving customer expectations and are seeing their margins suffer – yet don’t have comprehensive CEM programs in place of organizations cannot deliver all the requirements for a completely blended customer experience automatically and in real time of managers believe customer effort significantly impacts spending, satisfaction and retention of organizations have initiatives in place to reduce customer effort CUSTOMER ATTITUDES AND THE ROLE OF CEM Would rather spend money with organizations that are easy to do business with Expect unique treatment, contacted in a way they want, with offers tailored to them CUSTOMER DEMAND IS CHANGING…. …BUSINESSES FACE CHALLENGES… Choose to spend money with companies that treat them as an individual of managers say CEM will be important to their organization in 2014 of organizations have comprehensive CEM program in place of organizations had some department projects aimed at improving customer experience in last the 12 months *OF ORGANIZATIONS POLLED …and CEM is seen as the answer
- 3. 3 THE VALUE OF IMPLEMENTING CEM TAKEAWAY Companies with CEM initiatives outperform organizations that don’t of organizations experiencing significant profit increases have CEM program CEM is tied to greater customer satisfaction, loyalty, retention and repeat purchasing
- 4. 4 BARRIERS TO IMPLEMENTING CEM of organizations without a CEM program face barriers BARRIERS INCLUDE TAKEAWAY Business face financial, technological and structural barriers to CEM implementation of organizations that don’t have a CEM in place cite a lack of appropriate technology of organizations don’t have a CEM in place because different departments own their own parts of the customer experience don’t have CEM in place because of a lack of budget
- 5. 5 WHY CEMs HAVE FAILED IN THE PAST CEM initiatives failed in the last three years Failure to Modify Business Processes Misalignment with Customer Preferences Lack of Employee Buy-in Lack of Senior Management CAUSE FOR FAILURE INCLUDE TAKEAWAY Companies do not typically associate functions like finance, R&D, IT and operations as dealing with customers, which could be a blind spot in the way they approach and plan CEM initiatives causing them to fail
- 6. 6 GLOBAL APPLICATION OF CEM CHINA INDIA BRAZIL RUSSIA UNITED STATES CEM PROGRAMS ARE BEING UNDERTAKEN ON A GLOBAL SCALE ACROSS MARKET SIZES The survey found companies in BRIC economies are leading in CEM initiatives: TAKEAWAY While the US is seen as the ultimate service economy, China actually leads the pack in CEM implementations with India in third place