AI IRL Podcast Episode 15: Understanding the Customer Engagement Maturity Model (part 1)
Delivering exceptional customer experiences is a strategic differentiator for businesses today, as modern customers are not afraid to switch brands if they feel unsatisfied with the level of service and support provided. The rapid expansion of engagement channels, and the expectation of personalized journeys is forcing many companies to break out of their traditional siloed approach and shift to a customer-centered strategy.
This week we spoke with Ross Haskell, Lead Evangelist for Bold360 at LogMeIn and Amber Gregorio, Senior Product Marketing Manager at LogMeIn about a model they’ve developed with Forrester Consulting to help companies understand how they’re doing in terms of customer experience. The Customer Engagement Maturity (CEM) Model Assessment tool tells businesses how they stack up against over 450 other organizations from around the globe.
The Genesis of the Maturity Model
Haskell and Gregorio kept getting asked by their own sales organization, “who is your perfect target customer? Is it companies of this size or is it this vertical market?”
The answer is neither. LogMeIn’s products are used by companies of all sizes and across verticals, so it was hard to pin down the demographic or psychographic of the perfect customer.
So, instead they decided to take a closer look at digital engagement, and how it impacts company strategies and results.
Enter the Customer Engagement Maturity Model (CEM). They started with an international survey of business decision-makers to learn how folks think about their customer engagement strategies and their technology decisions.
How Serious Is Your Commitment?
The model brings clarity to the key things that differentiate engagement maturity. It’s not size, investment options, or people. It’s more about how a company prioritizes creating exceptional customer experiences.
If you ask someone “What role does digital engagement play in your company?” the answers will be very indicative. For example, less mature companies struggle simply to collect customer engagement data, whereas organizations that are more mature on the curve can measure their customer engagements and tie them to key business results.
Most businesses fell in the middle of the road – where most companies understand the importance of customer experience. They’re talking about it and thinking about it, and they’re starting to take steps to improve the way they engage with their customers. But they still have room to grow and they need to create efficiencies and improve processes that will ultimately drive better results for their customers. While there is a broad prioritization of customer experience, there is a widening gap between those who are doing it well and those who are not.
The Tangible Benefits of Improving Your Customer Engagement Maturity
One of the great things about making your business more efficient is you get to see advantages on both sides of your P&L. On one side you reduce costs by streamlining your internal processes and automating repeatable work. On the other side, when you improve how you communicate with your customers, you create additional opportunities to delight customers and drive more top-line revenue through those engagements.
In fact, the research found that this positive experience translates into brand loyalty, higher customer satisfaction and net promoter scores, and key improvements in business metrics like conversion rates and average order size.
Components of Customer Engagement Maturity
When measuring a business’s customer engagement maturity, their research looked at four key components:
Look at your strategy.
- Are executives prioritizing customer experience?
- Are you thinking about the customer experience across the buying journey?
- Have you thought about optimizing mobile experiences?
- Are executives focused on helping your customer-facing agents be more successful and giving them the tools they need?
Examine your process.
- How are you measuring success?
- What metrics are you using?
- How well are your engagement channels integrated?
- How easy is it for agents to find the information that they need to answer customer questions as quickly, efficiently, and thoroughly as they can?
Assess your organization.
- What engagement channels do you offer customers?
- Are your agents trained across engagement channels or do they focus on one channel?
- Are data insights shared across departments and teams?
Look at technology.
- What tools are you providing your support team so that they can be the most efficient?
- Do you have a streamlined workspace with access to customer data so agents can use that information to personalize the experience for the customer?
- Are you taking advantage of the efficiencies that artificial intelligence can bring to your workflow?
Moving your maturity forward is not just about adding technology – people play a key role. Technology should be enabling your staff to deliver an experience that is not just positive, but memorable.
Find out where your business stands on the Customer Engagement Maturity curve by taking the 2-minute assessment here: bold360.com/assessment.
If you don’t use iTunes, you can use this link here.