With increasing competition in every retail section, the success of a company boils down largely to customer satisfaction. Satisfied customers come back a second time, and if their expectations are met once again, a loyalty for that company develops. This has never been truer than in the day and age of e-commerce sites. Sites that offer a range of payment options, hassle-free returns and quick delivery get favoured over those that don’t.
What it all comes down to is giving the customer what they want. Customer experience management (CEM) has been defined as reacting to customer interactions in a way that meets or exceeds their expectations, thus creating satisfaction and loyalty. Part of customer experience management is the designing of ways to achieve this goal. CEM during e-commerce deliveries can make a big impact on the retail experience and influence consumer behaviour in the future.
What drives customer experience management?
CEM is driven by how the e-commerce company itself can benefit from the process. Keeping customers happy is all about the bottom line as it brings in more business and retains a steady customer base. Here are the key factors that come into play when designing a CEM strategy:
Differentiation: To stand out from other e-commerce sites and get noticed, a company has to take the service experience to a new level. Personalised touches to the service can be added by doing an analysis of customer behaviour. Understanding the customers’ likes and dislikes can help to tailor services to match individual needs. When a customer is made to feel special, that makes them sit up and take notice.
Personalised services can be put into action during deliveries by keeping the customer posted on where their package is, checking when the most convenient time for the delivery is and so on. Tracking apps, the option of giving special instructions and other services give the customer a sense of being in control. A dependable delivery service will help differentiate one company from the others.
Market performance: 200 retail supply chains were surveyed by Convey, and 83% of them said that customer experience (CX) is a company-wide goal. One of the main reasons that CX and CEM are so important is because it raises the market performance of a company. Companies need to keep track of every stage in the delivery process right from the time the order leaves the warehouse until it reaches the customer. When a smooth process is ensured, the CX is improved which eventually builds up to a better market performance. E-commerce makes up 17% of retail sales in the US alone, and with competition on the rise, CEM is crucial to market performance and being ahead of the competitors.
Financial performance: Financial performance is another factor that drives CEM. Over 50% of the retail supply chain leaders that were surveyed by Convey said that they needed to reduce costs and improve margins while keeping CEM in mind. Consistency in services and better legacy technology can help bridge the gap between financial performance and CEM. One study showed that for every $1 spent on improving CX, $3 were realised in benefits. These figures could translate into good profits on a bigger scale. The cascading effect of better CX improving customer satisfaction, which, in turn, translates to customer loyalty and eventually more sales, is what improves the bottom line.
When it comes to e-commerce deliveries, strategic investments made in delivery services can help manage costs better while giving customers the best service. Even those companies that outsource their deliveries to third-party companies can maintain high standards by integrating technology in the process for better visibility at all points. Both customers and the company should be in the know of where a package is and that it is in good condition.
The driving forces of CEM are those factors that help an e-commerce company not just survive in a sea of competition but also to stand out and get noticed.