Customer Experience Management Analysis: Square Company Report

This report provides a comprehensive analysis of Customer Experience Management (CEM) with a focus on Square Company. The report begins by exploring the concept of CEM and its advantages over traditional CRM. It then delves into the creation of a customer experience map, outlining key elements such as customer's voice, customer intelligence, customer lifetime value, CX improvements, and internal branding, all aimed at enhancing business value proposition. Furthermore, the report details the steps required to build a customer-centric organization, including retaining the right people, fostering customer empathy, making informed decisions, encouraging customer insight sharing, and rewarding desired behaviors. The conclusion emphasizes the importance of CEM for business success and customer retention. The report is supported by relevant references from academic journals and online resources.

CUSTOMER EXPERIENCE
MANAGEMENT

Table of Contents
INTRODUCTION......................................................................................................................3
TASK 1......................................................................................................................................3
Customer experience map with updated business value proposition.....................................3
TASK 2......................................................................................................................................4
Steps for forming a customer centric organisation................................................................4
CONCLUSION..........................................................................................................................5
REFERENCES...........................................................................................................................6

INTRODUCTION
The Customer Experience management (CEM) is a new and advanced version of
customer relationship management (CRM). The CEM makes an attempt to understand the
interaction level of customers with organisations so as to respond in a better way to meet
need of clients and leverage their satisfaction level (Schmitt, 2010). The present report is
based on making a discussion over the CEM strategy that is applied by Square Company.
Mentioned firm is basically a multipurpose company who is engaged in providing financial
services, merchant service aggregator and mobile payment services. The report will have a
discussion about the customer experience map that helps in business value proposition.
Besides this, there will be a detailed explanation of steps necessary for making a company
customer centric.
TASK 1
Customer experience map with updated business value proposition
There are a number of customers for Square company who are basically the general
people and traders of different products and services. As per this, the mentioned enterprise
can generate its customer experience map so that value of business can be enhanced to a great
degree (Palmer, 2010). The various elements which are involved in this map are as follows:
 Customer’s voice: The term Customer’s voice is well known in the business
environment and IT sector. It is a process where mentioned organisation can make a
study so as to get information about the expectations and needs of customers. This can
be understood as a kind of market research in which all expectations of clients will be
organised in hierarchical way so that their needs can be satisfied priority wise.
 Customers intelligence and CLV: The cited enterprise can take help of customers
intelligence process where concerned persons will gather information about customers
and detail of their various activities so that better relationship can be built with them.
It will help in effective decision making as well. While, Customer Lifetime Value can
be used to measure cumulative revenues that are made by contribution of every
customer of company (Otnes, Ilhan & Kulkarni, 2012). This is an important concept
to be applied for good decision making and long term relationship building.
 CX improvement and innovations: This step must be used by aforesaid firm to bring
innovation in performances by creating new products, enhancing available skills,

making better ideas to cut operational costs etc. so that customers can be provided
with more value in return of their payments.
 Internal branding: This is a vital step in which stated enterprise will have to shift its
focus towards being more customer focused. This objective can be achieved by
Square Company through efficient communication and behaviour determined process.
As per the above steps, eventually quoted entity will be able to retain it customers for
a long term (Lemke, Clark & Wilson, 2011). Moreover, there will be more number of
brand loyal customers with organisation.
Illustration 1: Customer Experience mapping
(Source: Peppers & Rogers, 2016)
TASK 2
Steps for forming a customer centric organisation
The task of building a customer centric organisation can be accomplished within five
steps:
1. Retain right people: To build a customer centric culture, the Square Company will
have to retain right skills within the workplace. Employees must be dedicated towards
their work and have understanding for their commitment.
2. Customer empathy: The mentioned enterprise must instruct their staff to develop a
better understanding with customers so that their needs can be known and can be
made happier through providing desired services.
3. Informed decision making: The decision making within company must be quick and
should be taken by involving all key persons of organisation (Schmitt, 2010). Besides

this, in this process, it must be taken care that decision taken is based on greater
advantages for customer with a more systematic focus.
4. Encouraging share of customers’ insight: The concerned person of firm must ensure
that a process should be there through which a fun way can be found out to share the
thoughts and ideas with customers about different processes so as to increase the level
of trust with them.
5. Rewarding right behaviour: As per the set out plan for achieving the objective of
making organisation customer centric, certain behaviour are expected from employees
(5 steps to creating a customer-centric culture. 2017). Therefore, cited entity must
reward the individual who perform in efficient way in this task. This will help in
encouraging other employees as well in contributing for making business more
customers centric.
CONCLUSION
The above report has made a discussion on Customer Experience management with
special reference towards Square Company. The reports concludes that for gaining more
success and retain customers, the said concept is more useful. Besides this, there are certain
steps that can be followed by mentioned firm so that it can become a customer focused
organisation.

REFERENCES
Books and Journals
Lemke, F., Clark, M., & Wilson, H. (2011). Customer experience quality: an exploration in
business and consumer contexts using repertory grid technique. Journal of the Academy
of Marketing Science, 39(6), 846-869.
Otnes, C. C., Ilhan, B. E., & Kulkarni, A. (2012). The language of marketplace rituals:
implications for customer experience management. Journal of Retailing, 88(3), 367-
383.
Palmer, A. (2010). Customer experience management: a critical review of an emerging
idea. Journal of Services marketing, 24(3), 196-208.
Peppers, D., & Rogers, M. (2016). Managing Customer Experience and Relationships: A
Strategic Framework. John Wiley & Sons.
Schmitt, B. H. (2010). Customer experience management: A revolutionary approach to
connecting with your customers. John Wiley & Sons.
Online
5 steps to creating a customer-centric culture. 2017. [Online]. Available through: <
http://www.dragonfishuk.com/5-steps-to-creating-a-customer-centric-culture/>.
Accessed on [2nd May 2017].