1668577000.jpg

Brand Discovery: First Step to CX Analysis

QDegrees

newsletter author

16-11-2022

The process to upgrade customer experience is at a high stride in the current market. Today 89% of companies compete primarily based on the differentiated customer experience. Many brands believe their customers are happy, but without quantified customer experience measurements and quality assurance, it’s just a belief. Thus, analyzing the customer experience is a predominant step in transforming a brand's journey from stagnant sales to profit maximization.

Focusing on customer experience management (CXM) is the most critical investment a brand can make in today's competitive business climate. A higher count of happy customers has become crucial for the company's growth as they are the ones who stay consistent and loyal to the brand. 

The purpose of customer experience management (CXM) is to facilitate customers with a seamless journey that focuses on all phases of customer-brand interaction, not just one. It deals with the collective feedback of all customer perceptions and experiences. Therefore, CX begins its role even before the purchases, and ensuring an incredible customer experience becomes a responsibility of the whole organization, not just of the single team. Through effective CXM, a significant impact is laid on the overall brand perception in the minds of customers and gradually the market.  


So, market leaders have understood that customer satisfaction is not a one-time goal or is achievable by offering quality products. Continuous interactions, pre, and post-sales through multiple channels and delivery of quality to the consumers are necessary. Consequently, analyzing this CX has become a tricky and cumbersome task for any businessperson with too many tasks.

Owing to this, brands have begun involving practitioners to incorporate and manage a better understanding of their authentic customer experience. Furthermore, as per a study, 90% of brands now have a CXO appointed. These CX practitioners design human-centered customer journeys and assist in creating an exceptional brand experience. This entire journey leads to an outstanding customer experience for the target customers that automatically boost sales.

Beginning with Brand Understanding
The initial step to understanding any brand is the discovery of its core idea. This process is handled with customer experience management where practitioners study the unique value the brand delivers to its customer needs, its competitors, and the market it operates.

This process aids in the SWOT analysis and PESTLE analysis of the brand, which automatically assists in identifying setbacks and opportunities. Using both approaches together facilitates an accurate understanding of how the CX impacts the business. The processes encourage the business to adopt a strategic thinking mindset that helps create a competitive advantage.