International Journal of Management (IJM), OF ISSN MANAGEMENT 0976 6502(Print), ISSN (IJM 0976 ) INTERNATIONAL JOURNAL 6510(Online), Volume

me 4, Issue 2, March- April (2013)

ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume 4, Issue 2, March- April (2013), pp. 224-226 IAEME: www.iaeme.com/ijm.asp Journal Impact Factor (2013): 6.9071 (Calculated by GISI) www.jifactor.com

IJM
IAEME

CUSTOMER EXPERIENCE MANAGEMENT; A NEW DIMENSION TO CUSTOMER RETENTION

Chandrashekhar R. Suryawanshi Associate professor in BharatiVidyapeeth Deemed University,Pune

ABSTRACT Each individual on a planet perceive the things through his or her experience. Consumers in the market are highly influenced through self and others experience. so experience is an important determinant to scale behavior of an individual to their adoption of the product. Customer Experience Management helps to achieve customer focused management by strategically managing the customer experience, which is emerging a new dimension to customer retention. Key words: Customer, experience, utilities, retention

INTRODUCTION The end task of marketer is not restricted around making customer happy and satisfied with the provisions rather to add value to make him surprise and delightful towards product. To influence customer, organizations needs to focus on customer expectations, product characteristics and value addition to its environmental aspects. Environmental aspects pertaining to society, culture and reference circles individuals. Each individual on a planet perceive the things through his or her experience. Consumers in the market are highly influenced through self and others experience. so experience is an important determinant to scale behavior of an individual to retain. Evaluating consumer experience is very critical as it evaluates gap between expectations of consumers and the product, utilities, attributes and offerings. Managing experience is becoming very important and challenging discipline in modern marketing.

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International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume 4, Issue 2, March- April (2013) CUSTOMER EXPERIENCE MANAGEMENT (CEM) Customer experience Management is the process of analysis of product utilities, attributes, offerings and expectations of consumers to adopt the respective product. According to Bernd Schmitt, "the term 'Customer Experience Management' represents the discipline, methodology and/or process used to comprehensively manage a customer's crosschannel exposure, interaction and transaction with a company, product, brand or service." Gap evaluation is at core of the experience management through which one can have evaluation of unsolved or unsatisfied offering, which gives input to develop effective marketing strategy. Vance Packhard a famous American journalist in his book The Hidden Persuaders gave eight hidden need of human beings. These are emotional security, reassurance of worth, ego gratification, creative outlets, and love objects, sense of power, roots, and immortality. Customer Satisfaction: Making customer happy and satisfied from its unhappiness and unsatisfied desires is key challenge for the marketer in view of experience management .so marketer need to evaluate the gap between offerings and expectation from consumer which could be undelivered offering. One can have acute analysis on customers hidden needs even. Customer Loyalty: Loyalty influences through only faith, and confidence on commitments and offerings. Loyalty towards brand is out come of an experience of consumers on delivery of commitments offerings. A slight deviation on commitments creates confusion which encourages dissatisfaction and develops gap which influences adverse actions and reactions. Customer Delight: Only attributes of products and offerings may not be sufficient to delight customer. Customer could be delighted through value creations to make customer surprise and delighted. CEM VS. CRM: Customer relationship management is claimed to be deficient because it primarily consists of database and software programs used in call centers and thus, focuses too much on quantitative data. By doing this, it is led by transactions rather than a desire to build lasting relationships with customers. Customer experience management (CEM) involves a more cohesive approach to customer acquisition and retention than traditional CRM or social CRM. Customer Experience Management concerned with perceptions, feelings and interactions that are harder to quantify but so valuable. Instead of just looking at how valuable the customer is to the enterprise.CEM is identifying what customer finds valued Essential Practices for effective Customer Experience Management: Active involvement of Leadership Ensuring cross-functional ownership Focusing on strategic important customer Finding out what these customer truly value Being clear about what you stand for Delivering the promise at every touch point Providing training to ensure branding Designing CEM before installing CRM system Measuring Customer Experience Aligning KPI with customer experience
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International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume 4, Issue 2, March- April (2013) CEM Frame work: To manage customer experience effectively one can develop CEM framework which consists of following components. The Customer: The customer is to be analyzing according to socio economic and value determination. One should identify what the customer truly value. The Environment: Building an experimental platform and developing a strategy that includes positioning for kind of experience the brand stands for. The Value position of what relevant experience to deliver and overall implementations. The Brand: Developing and designing brand experiment and implement the experiment platform. The Platform: Structuring the customer interface by implementing the operational infrastructure in a store, during sales visit in e-commerce engine of websites. Interface: Engaging in continuous innovation and fine tuning the experience at every point of contact. This area of CEM analysis focuses on the interaction between consumer and the brand, human to technology, human to human to environment perspective. This area focuses on refining and optimizing customer interaction within any channel to produce desired and pleasing outcome. CONCLUSION Customer Experience Management is so important dimension to achieve customer retention. By developing and designing an effective system to manage the experiences and to bridge the gap between what customer valued and organizational offering, one can easily measure the experience rate to develop strategy to achieve retention. REFERENCES 1) 2) 3) 4) 5) 6) 7) www.cutomerthink.com www.enterpriseappstoday.com 12 Mange Group An EXCUTIVE GROUP www.crmsearch.com www.customerthink.com Synchrony.cincom .com R. Thiru Murugan and Dr. J Clement Sudhahar, Predictors of Customer Retention in Online Health Care System (OHCS) - Structural Equation Modelling (SEM) Approach International Journal of Management (IJM), Volume 4, Issue 1, 2013, pp. 243 - 257, ISSN Print: 0976-6502, ISSN Online: 0976-6510.

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