BIZ104 Customer Experience Management: Strategy Presentation & VOC

This presentation provides a detailed overview of Customer Experience Management (CEM), emphasizing its importance in today's competitive business environment. It defines CEM, outlines its objectives, and details the steps for creating a customer-centric CEM strategy within an organization. The presentation includes a case study of Toyota Company Ltd., highlighting the significance of customer segmentation and identifying service gaps. It recommends a Voice of the Customer (VOC) strategy and the IDIC model for achieving loyal customer relationships. The presentation also suggests practical steps for building an effective VOC program, leveraging social media, and centralizing real-time customer feedback, while cautioning against investing in customers who do not add value. The presentation concludes that adopting VOC and a CEM strategy will ensure Toyota remains competitive in the global automobile industry. Desklib provides access to similar solved assignments and study resources for students.

Customer Experience Management
Name:
Affiliate Institution:
Date:

Purpose of the Presentation
The primary aim of the presentation include;
 Understanding the concept of customer
experience management (CEM)
 Focusing on a specific organization while
applying the CEM concept to improve its
performance
 Developing an effective CEM strategy for the
organization
 Applying perception influence to CEM
delivery

Introduction
 Customer experience is an essential aspect of every
successful business
 89% of global companies and businesses in various
industries are primarily competing on customer
experience
 Outcompeting other companies hence require
companies to deliver better customer experience in
their product and service delivery

Cont..
 According to Hill (2011), companies that focus on
their customers often record an increased annual
revenue as compared to other that only focus on the
quality of products and services they offer. Benefits
include;
 29% greater workforce agreement rates
 Average of 23% decrease in yearly customer
service
 55% greater retention and referral of customers

Definition
 What is Customer Experience Management
(CEM)?
- It is a collection of strategies and processes used by
a company in tracking, overseeing, and organizing
every interaction between the company and the
customer (Hill 2010, p. 4)

Objectives of CEM
 The primary goals of CEM include;
 Optimization of interactions from the perspective
of customers
 Fostering customer loyalty
 Enables easy management of the customers by the
company

Steps to forming a customer centric CEM in the
organization
 To effectively adopt CEM, the company should;
- design a plan or strategy encompassing all the
customer interactions
 have a 360- degree customer view with updated
data on the company accounts
 having an updated system that can connect both the
clients and business
 Personalizing its business through new
technologies (Hardy 2012, p. 5)

How CEM strategy will give the organization
competitive advantages
 Adopting CEM strategy in the organization will;
 Understanding customer perceptions
 Organizing its interaction with its customers
 Emotional analytics will help the company to
gauge the benefits the customers gain from the
company
 It is a method that is relevant to the millennial
generation that form a bigger percentage of the
current business environment.

Case study: Toyota Company Ltd.
 Toyota started its operations in the 1980s (Hardy 2012,
p. 5)
 It is a Japanese automobile company that operates in
the global automobile industry.
 It machines are said to required fewer repairs and can
last for a longer duration.
 Currently, the company still have unique designs and
is consistent in its innovation of modeling ideas
resulting to their long-term customer preference and
excellence in operation.

Importance of customer segmentation for the
company
 Helps in reaching a target market such as the sports
community
 Enabling marketing team to reach the most ideal
customers and not waste time and resources on
impressers
 Enabling the company to craft relevant messages for
the targeted customers
 Initiates easy connection with the target audience,
communicate resonating messages, and develop
positive customer relationships

Identification and differentiation of customer
segments
 Adopting the CEM strategy will enable the
company to easily segment its customers such as;
 Geographic segment
 Psychographic segment
 Demographic segment
 Behavioral segment

Geographic segment
 Involves initiating campaigns targets audience on
the basis of their location such as;
- customers within a town
 Country
 customers abroad
 As a large business with international market, the
company can focus on offering services to specific
audience within specific locations