Merely satisfying customers will not be enough to earn their loyalty. Instead, they must experience exceptional service worthy of their repeat business and referral. Understand the factors that drive this customer revolution. ~ Rick Tate
The Fifth P of Marketing: People
Have you noticed that brands no longer seem to be selling products, but rather experiences? Customer experience marketing, focused on people, has become a crucial element of the modern marketer’s mix. But what exactly does the term “Customer Experience Marketing” mean and why is it important? Let’s break down the trend to identify and understand the main principles that will help you create even more valuable relationships across the customer lifecycle.
Customer Experience Marketing: A Definition
Customer Experience Marketing (CEM) is about creating a strategy that is entirely centered on your customer’s interests, needs and attention. By focusing on improving the customer experience through engagement, CEM allows brands to generate long-lasting value from every customer relationship.
The end goal is no longer just individual sales, but also stronger bonds with customers. In other words, CEM requires a shift away from looking at customers as groups or segments for conversion to caring about how personalized experiences can bring your brand repeat business. It’s time to change your perspective: consider that improving all points of customer contact will foster relationships that are higher in trust, loyalty and profitability.
What your brand is missing without a Customer Experience Marketing strategy
Treating your customers as individuals in order to deliver personalized brand experiences can bring enough advantages to fill up several blog posts, but we’ll limit ourselves to the most important benefits.
Customer Experience Marketing delivers:
- Increased brand loyalty for long-term profitability
- Increased brand awareness and reach (Customers who feel engaged are more likely to spread your brand message to their friends and family)
- Greater insight into customer behavior and demographics
- Higher customer satisfaction rates thanks to offers that are relevant to your target and exceed their expectations
- Greater trust, which helps in the case of an unexpected service problem (Customers who are loyal and engaged are more likely to forgive your brand for a misstep)
That should be enough reasons to convince you that creating better customer experiences will reward both your customers and you.
So, how should you build a customer experience marketing strategy?
We’ll tell you in Part 2 of our CEM blog post.