Skip to main content

Cloud Customer Experience Management system (CEM) to be first-mover of Big Data for 2014


- Saurabh Sharma, Country Manager, Spire Research and Consulting 




"Customer Experience Management (CEM) is seen as a priority in most service-based businesses, such as companies in telecommunications, financial services and retail industries". 

According to a research, the global CEM market is expected to grow from USD2.68 billion in 2012 to USD6.61 billion by 2017. Stemming from this prediction, it is vital for companies to recognize the importance of retaining customers through repeat purchases, as this customer segment is too important to be left unattended or left to chance. Nowadays, not only do customers want to enjoy good products and services; they also wish to experience good customer service. Should all these attributes be in place, customers would be more likely to recommend their friends and family the products and services they are satisfied with; leading to increased product and service sale for the companies. 

As such, companies must plan and develop a continuous holistic CEM program and communicate at all levels (i.e. sales, marketing, operation, customer services). Companies today are starting to adopt a two-prong approach – top-down customer research and bottom-up customer research. 

The top-down approach refers to conducting interactive surveys to ascertain the customers’ experience, whereas the bottom-up approach refers to deriving insights on customer experience through observation. 

A top-down approach is mainly adopted in companies which want to gain more insights on new product usage through engaging customers and garnering their feedback. This would allow the companies to better understand the level of market acceptance, which would aid in product improvement prior to actual launch. 

On the other hand, with a bottom-up approach, the advancement of cloud technologies would allow the CEM tool offered by cloud CEM providers to provide automated customer insights. Companies can obtain valuable customer experience insights through text analytics and voice analytics, via social media and customer service IVR respectively; which would lead to actionable strategies. 

According to a source, tablet sales in India has grown from 360,000 to 1.9 million units from 2012 to 2013; registering a growth of 400%. Besides, smartphone sales in India have also crossed 15 million units in 2013, as compared to last year’s figure of 9.5 million units. With such a high penetration rate of mobile devices in India, it is predicted that 1 out of 4 people would be shopping through a mobile device by 2013. As such, marketers can also gather CEM insights via mobile devices. 

With the large volume of data that would be generated through this holistic automated CEM program, it calls for a need for reliable analytical tools to put them into good use. 

In the near future, with the use of facial analytics jumping into the bandwagon, it is evident that CEM would be the first-mover in Big Data.

Links to coverage: 



Labels:

Comments

Post a Comment

Popular posts from this blog

Egyptian-Israeli gas deal to boost bilateral trade

A USD15 billion deal has been announced between Israel and Egypt to export natural gas. Israel’s Delek Group has signed an agreement to supply 64 billion cubic meters of gas in a span of ten years to Egypt’s Dolphinus Holdings. The deal is considered a milestone ever since the 1979 peace accord, bringing Egypt a step closer to becoming a regional energy hub. However, the transportation of natural gas from Israel to Egypt is a challenge given the security risks. Will the Egypt-Israel gas export deal usher in a relationship of bonhomie and economic co-operation? Read more here:  https://www.spireresearch.com/newsroom/spirethoughts/egyptian-israeli-gas-deal-to-boost-bilateral-trade/
1 comment
Read more

Spire speaks on Omni-channel strategies for Indonesian retailers

Spire was honored to participate in the Samsung Top Achiever Retailer (STAR) event held on 22 August, in Jakarta. Albertus Edy Rianto, Senior Manager, Spire Indonesia, shared his insights on the significance of Omni – channel strategies for mobile phone retailers. Albertus discussed offline-to-online strategy, where multiple channels merge to help target customers across various channel platforms. He elaborated that more than 80% of Indonesian mobile phone retail sales in 2020 will still occur at physical outlets. However, 71% of Indonesians browse online for a while prior to shopping at a physical store. Factors that influence customers include better delivery conditions, storefront apps for better sales and even packaging. As customers become more tech-savvy and demanding, more consideration will be given to innovative payment processes and browsing more than one channel to make a purchase. As far as online purchases are concerned, 25% of customers still feel ...
Post a Comment
Read more

Asia-Pacific nations poised to sign the world’s largest multi-lateral trade agreement, RCEP, in 2020

After six years of negotiations, more than a dozen countries in the Asia-Pacific are poised to sign the world’s largest trade agreement, known as the Regional Comprehensive Partnership (RCEP), in 2020. This agreement would boost commerce among participating countries by lowering tariffs as well as standardizing customs rules and procedures. The RCEP will widen market access, especially for those countries that do not have existing many bilateral trade agreements in place. Will India pay a price for its decision to stay out of the RCEP? Read more:  https://www.spireresearch.com/newsroom/spirethoughts/asia-pacific-nations-poised-to-sign-the-worlds-largest-multi-lateral-trade-agreement-rcep-in-2020/
Post a Comment
Read more

Prison ankle bracelets are all the rage in Brazil

With about 622,000 inmates, Brazil is home to Latin America’s largest and the world’s fourth largest prison population. Around 32,000 criminals sport one of the many types of ankle bracelets being used. Many others are on a waiting list. The authorities estimate that they can save anywhere from USD12,000 to USD 72,000 a year for every tagged inmate removed from prison. Will ankle bracelets allow more prison inmates to serve their sentences from home? https://www.spireresearch.com/newsroom/spirethoughts/prison-ankle-bracelets-are-all-the-rage-in-brazil/
Post a Comment
Read more

Germany: The Eurozone’s economic powerhouse

Germany is the fourth largest global economy today. Its exports amounted to EUR107 billion in March 2015 – an all-time high since the 1950’s. Despite being the only European nation with a strong manufacturing base and rising employment rate, will Germany succeed to drive Eurozone’s stagnant economy? And what lessons does Germany’s economic success hold for the rest of the world? Germany’s resurgence With the second lowest unemployment rate in the European Union (EU) at 5.3 per cent, Germany’s economy has survived many setbacks. The economic success dates back to the Industrial Revolution due to the early adoption of coal production and rail transportation. Moreover, the fall of the Berlin Wall – the reunification of West and East Germany – and the expansion of the EU created huge market opportunities for Germany. Often regarded as the ‘Sick man of Europe’, Germany had almost lost hope of returning to rapid economic growth, undergoing recessions in 2003 and a dismal 1.2 p...
Post a Comment
Read more