The ROI of CEM
The True Engine of Profit, Growth, and Value
Customer experience management, or CEM, is the best way to drive business success. With this ebook, arm yourself to achieve real results by learning how customer experience improvement affects your bottom line.
CEM Turns Your Customers Into Big Spenders
CEM drives customer loyalty, which is another way of saying that it keeps your customers coming back for more. Whether you measure this through repeat purchases, continued subscription, or other indicators, a long-term customer means more revenues in the door. It costs five times as much to acquire a new customer as it does to hang on to an old one.
Showing Customers Love Saves You Money
Not only will your satisfied customers stick around longer and spend more, they’re also less expensive to serve. They contact you less often, and take less time to help when they do call. They’ll even contribute to your ability to improve your product in targeted ways, through helpful feedback and engagement with your product development process.
Happy Customers Mean More Customers
Potential customers would always rather hear from their peers than from your marketing department. Well-executed CEM sets up marketing engine more powerful than any tactic money can buy: referrals. When influenced by loyal customers who already happen to be friends and colleagues, people tend to join them – and become more loyal customers themselves.
CEM Means Confident Decisions
With a CEM program in place, there’s no guesswork about what customer experience steps you should take or how to quantify your results. You can let your analysis do the talking, and encourage every employee, in every department, to put the customer first – every time.