“Customer Experience (CX a.k.a CEM) is the sum of all experiences a customer has with a supplier of goods or services, over the lifecycle of their relationship. This covers several phases including awareness, discovery, attraction, interaction, transaction, use, service, cultivation
These are not simply sequential, rather a Continuum of phases existing with the context of CX.
CX is not something you just bolt on to your existing enterprise architecture.
So why does CEM/CX matter? The simple answer is for retention of your existing business customers. Your competition is a click away and studies show people are 3 times more likely to tell others about a bad experience. People declaring a bad experience with you are ripe for your competition to steal.
With Social Media, bad CX stories can escalate on a viral basis and ruin a business’s reputation in weeks or even days. People notice BAD experiences and get emotional! They want a good customer experience.