Updated: Jul 16, 2020
Experience Management is to care about how your customers, employees & partners interact, feel and think about you and your company.
What does Experience Management (XM) include?
Experience Management is a combination of all experience related to your company so it could reflect on Employee, User & Customer Experience, Product & Service Experience as well as Brand, Partner, Franchise (etc.) Experience. All the feedback you can get on these interactions can influence the success of your company.
Employee Experience (EX)
Richards Branson said "If you take care for your employees they take care of your customers". Actually, depending on the culture of your company it is really a chicken and egg question: what comes first, customer or employee experience? However it is true that engaged and motivated teams are more likely to advance your company than disengaged ones. Engaged does not only mean being positive, but also being willing to fight for the company and overcome obstacles without giving up.
Customer Experience (CX)
Since 10 years customer experience has become a huge management technique in companies. This is done by taking customer feedback seriously as well as understanding the issues and expectations of the majority of customers. Then action is taken by improving products, processes and services towards a higher experience level (WOW). Most companies start with a customer experience projects but realize soon that they have to institutionalize CX as a team or function to get a continuous improvement cycle into their companies. Besides, customer complaints and expectations never stop so a limited project is not feasible.
A great indicator for Brand Experience is NPS (Net Promoter Score) to ask customer regularly how likely they are to recommend your brand and company to friends or family. It is a great indicator if your brand is gaining popularity and is reaching a pull instead of a push marketing stage or why it is not increasing. As a pro-tip, please engage (call / email) your detractors and neutrals on NPS and ask them why they are not happy.
Product & Service Experience
These are normally a part of the Customer Experience team's responsibility to constantly measure the level of satisfaction of customers while using your products or services. This is ideally done by ratings (1-3 / 1-5) on so called 'moments of truth' in the customer journey where customer have major decisions or feelings or where you want to sell your products or delight your customer.
Partner & Franchise Experience
It is also very important to measure the satisfaction level of your business partners, subcontractors and franchisees, as they will also have an impact on your customer, employees and branding. This is especially true for companies who rely heavily on third parties, e.g. on E-commerce delivery services or those who operate as market places / franchise systems (e.g. AirBnB, Uber, McDonalds). It is very important to not only monitor their satisfaction (B2B) but also the satisfaction of your clients with their services (B2B2C).
For more insights into how to implement experience management in your companies, please refer to our blog: https://www.asiapmo.com/post/customer-satisfaction-vietnam
or contact us directly. We implemented experience management for a variety of clients in Finance & Banking, E-commerce, F&B Franchises and industrial companies.