With the modern era of Digital Transformation and the increase of Smartphone users in the market, the world of customer engagement has dramatically changed in the last few years. Gone are those days when you could go about building the customer-facing portion of your organization’s digital transformation strategy around the traditional boundaries of Customer Relationship Management (CRM). CRM has many functions to do such as the Lead process, the quote process, the order process, the campaign, support, etc., which can help the organization's visibility. But unfortunately, in most cases, this has hampered the overall customer experience by way of filling more data, a unified experience, etc., This is where the industry started looking to unify the customer experience though they have a CRM tool and today something called "CX Platform" in most of the places.
At this moment, take a pause and think about your own organization and the various business processes which span across these various departments when it comes to Customer Experience. It doesn’t matter what your role in your organization (business or Non-Business role) is, nor what line of business you belong to. And technology has been growing and evolving at an exponential pace. So, these topics will help you understand the fundamental business concepts of Customer Experience and the underlying technology which will help you shape the face of your own organization’s Business Architecture when it comes to “Customer Experience”.
Below are the most pain points, that Organizations are facing today,
· Capturing the Right Data
· Multiple references of the customer inside the IT Landscape systems such as CRM, ERP, and OMS systems.
Where a bunch of people is sitting today and cleaning those data.
· Too many tools for customer interactions.
· No centralized taxonomies.
· Lot of manual processes and ad-hoc usages of tools like excel, etc. still exist
Now there is no right mix. However, we can borrow a lesson from Macroeconomics here, specifically the concept of “Comparative Advantage” - which talks about a strategy for countries to focus on their core competency, and then collaborate with other countries via globalization - so that the entire world progresses collectively. Similarly, in the world of Customer engagement, every organization has the option to start adapting to some of the standard tools and forcefully getting their staff to use that process without adding any value in most cases. To resolve this, we must understand the difference between CRM and Customer Experience. The fundamental difference between the two is CRM over a period has been fragmented in silos whereas Customer Experience provides a unified end-to-end seamless business process across various customer journeys and organizational engagements, and never loses sight of the most important person in this whole equation - the customer. How effectively we can partner with customers to improvise their experience by enabling them to give a few inputs and provide more data in the following ways,
· Enabling customer to scan their KYC, with minimal inputs.
· Based on the intent of the action, the system produces its data on customer preference.
· Auto Categorization of communication by its nature.
· Enabling below the way of interactions in more contextual ways based on the nature of intent,
o Human to Human
o Human to System
o System to Human.
· Tracking of actions w.r.to Intent.
· Re- Utilizing their initial preferences.
Overall, the Customer Experience Platform will enable customers to choose their perception of a customer after engaging with a company or product whereas CRM enables businesses to track and analyze customer interactions and data over time. The goals of these concepts are slightly different for Eg., CX gives customers consistently positive experiences that drive loyalty and revenue to the business and focus on customer engagement to drive profitability. But CRM focuses on optimizing the internal process and facilitating visibility for the internal organization and focusing on more operational business improvements.
To conclude, CX and CRM concepts are not the same. CX takes the next step in managing customer relationships. Where CRM mostly deals with optimizing the internal processes of a business, CX offers an even more customer-centric approach with new technologies, processes, and strategies.
Any organization that intends to implement CX, should not think it will replace your existing CRM. It will add real value to your customer and add value to your CRM internal data flow.
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