Interactions with customers in an attempt to build an emotion connection between consumer and business. It's important, as a fully engaged customer is worth 23% more revenue.
Customer Experience (CX)
CX represents the sum of a customer’s interaction with a business or brand. Think holistically -- their perception is formed by the entire marketing life cycle (i.e. browsing your website, talking to customer service, making a purchase, following up on a warranty, etc).
Customer Experience Management (CEM)
CEM is about outlining a strategy to optimize customer experience (CX). The key is understanding customers’ motivations and building plans to improve your business’ perception and process.
Customers often research or encounter a product or service multiple times before their purchase decision. Each of these interactions is known as a touchpoint, which outlines the customer journey. Shockingly, only 36% of companies have a process to map customer journeys.
Customer Lifetime Value (CLV)
CLV measures how valuable a customer is across their entire relationship with a company. Examining CLV helps companies identify key market segments and improve services throughout the customer lifecycle.
Customer Relationship Management (CRM)
An organization’s process -- their practices, guidelines, software -- for interacting with its customers. The end goal is to foster customer engagement and enhance CX.
Customer Retention/Customer Loyalty
Retention measures whether a customer continues to use a company’s products or services. Loyalty, meanwhile, is the next level: suggesting that a customer is engaged with the brand or business and potentially willing to become a promoter.
Customer Satisfaction (CSAT)
Another commonly used metric that measures customer service and product quality. Respondents are given a 1-5 scale with 1 representing “very unsatisfied” and 5 signifying a “very satisfied” customer.
Churn represents the percentage or rate of customers that stop using a company’s product or service within an established time period. Reducing churn is a major milestone for the large majority of product companies.
Net Promoter Score (NPS)
The core metric used to measure a company’s customer experience management (CEM) strategy. This 1-10 scale asks customers how likely they are to recommend a business or brand. As it is calculated by the percentage of promoters minus the percentage of detractors, the complete range of NPS scores falls between -100 and +100. According to Retently, NPS is typically between 3 to 62, depending on the industry.
Each product or service undergoes a journey -- from when it’s first introduced to consumers until after it’s purchased. Understanding a product’s “life after the sale” is a key aspect that is often forgotten by companies.
Interactions with customers through various channels -- a website, app or a person-to-person connection with a company representative. Creating effective, real-time, after-sale touchpoints represents an untapped market for companies.
Blustream Bridges the Gap in Post-Sale Customer Connections
Blustream is your go-to solution for improving your after-sale customer experience. Our After-Sale Product Engagement Platform builds active, ongoing connections between companies and their customers from purchase to product usage to maintenance.
Improving customer experience can double your revenue in just 36 months. Contact us to see a demo and let Blustream start leveraging your product information to bring a transformative after-sale product experience for your customers.