Customer Experience Management (CXM) has been a critical aspect of the banking and financial services industry for a long time, but with the advent of digital technologies, the way in which banks and financial institutions communicate with their customers has been undergoing a transformation. CXM platforms are playing a key role in this digital transformation
Category: Customer engagement and retention strategies
Customer engagement refers to the interactions between a customer and a company. This can be through various channels, such as social media, email marketing, customer service, and more. Effective customer engagement strategies aim to build a strong emotional connection between the customer and the brand, which can lead to increased customer loyalty and advocacy.
Customer Lifetime Value Good customer experience doesn’t only lead to happy customers, but it will conjointly result in additional revenue and different important benefits like customer loyalty, higher CLV (Customer Lifetime Value), etc. Customer Lifetime Value (CLV) refers to the estimated net profit attributed to the entire future relationship with a customer. CLV is calculated
Personalization is a crucial aspect in delivering a Successful Customer Experience (CX). With the increasing competition in the market, businesses need to create a unique and personalized experience for their customers to stand out. Personalization is about understanding and anticipating the needs of customers and providing relevant content, products, and services based on their preferences.
CXM Technology Transforming the Banking Industry In today’s competitive banking industry, customer retention is crucial for long-term success. A Customer Experience Management platform can play a significant role in improving customer retention by streamlining and automating communication processes, providing personalized experiences, and gathering valuable data insights. CXM (Customer Experience Management) technology is transforming the banking
We live in an era of fast-paced digital transformation in which modern-day consumers expect to find information when they want it, solutions when they need them and access to find both on their own. Self-service, social media, live chat, video conferencing, and unified communications and collaboration have been fostered because of developments in the domain