Whilst businesses understand the importance of customer experience management (CEM) initiatives, new research reveals many struggle to properly implement them.
Satmetrix surveyed over 1,000 companies worldwide and found that just 16% of SMBs have no CEM initiatives in place, compared with 5% of large companies.
Nearly a quarter of companies cited closing the loop with customers as the biggest challenge, according to the survey. As a result, customers that provide feedback are left feeling ignored and unsatisfied, said Satmetrix.
Additionally, 14% of respondents struggle to get alignment about the right metrics to use, with the same number finding it hard to engage employees in CEM initiatives. Consequently, improvements that are needed to keep customers loyal may not be properly implemented, said the report.
The research also showed that a further challenge to executing CEM is a clear vision, with 7% admitting they lack any idea about how CEM will help the company.
According to the research, nearly half of SMBs would rather focus on acquiring new customers whilst 34% of larger businesses see current customers as their main priority. But for those organisations that do have CEM in place, 73% of SMBs and 58% of large firms have built their CEM systems in-house, said the report.