Set Goals to Create a Successful CXM Platform For Your Business
Before we dive into how to set the right goals, let’s first take a look at what CXM is and what it is not. CXM stands for Customer Experience Management and it’s the next step in customer relationship technology. You’re probably more familiar with the acronyms WCMS and CRM.
- CMS or WCMS – A Content Management System and a Web Content Management System are basically the same. CMS is a system that allows you to edit, modify, manage, and publish content to your website with very little knowledge of web programming needed. It has administrative tools for managing user roles and access.
- CRM – Customer Relationship Management is a system that manages a company’s relationships with both current and future customers, as well as all the data associated with each interaction. A traditional CRM focuses on tracking traditional forms of communication with current and potential customers (i.e. phone calls, emails, notes from in-person meetings).
So, What is a CXM Then?
At its core, CXM is the next step beyond CRM in managing customer relationships. It focuses on creating a consistent experience for customer interactions with the company and tracks the relationship beyond the traditional forms of communication. A full service CXM system, from companies like Sitecore or Kentico, allows you to gather insight on current and potential customer needs, their sentiment and what stage in the buying funnel they’re in by tracking analytics.
Setting the Right Goals for Your CXM
Always align your marketing goals with the overall strategic objectives of the business. First, you need to define your objective, such as grow your list of qualified potential customers or shorten the conversion funnel. Second, you need to determine what metrics to measure in order to determine the success or failure of our initiatives. Remember, it’s important to think outside the box of traditional metrics when measuring the success of your CXM. Instead of focusing on total site visits, look closer at visitor engagement with the content on your website.
- If your objective is to grow a list of qualified potential customers, you would want to measure total conversions on your website and the quality of those conversions.
- If your objective is to shorten the conversion funnel that your prospective customers have to go through to become a customer, you would track the number of steps and conversions a customer goes through in order to become a customer and how that number of steps changes over time.
Achieving Your CXM Goals
One of the greatest benefits of a CXM system is that everything is heavily data backed. For example, a CXM system like Sitecore lets you monitor each site visitor’s level of engagement, and by assigning values to certain behaviors, you can drive “valuable” visitors down the conversion funnel. You’ll achieve your goals by using these insights to personalize the user experience with both timely and relevant content. Lastly, using your goals as a base, there are four key areas to focus on when implementing a CXM.
Four Keys to a Successful CXM:
- Properly set up analytics to track user behavior and conversions.
- Set up campaign tracking around sources and visitor interest (for example, tag a visitor with Campaign A if they show interest in Product A versus Product B).
- Focus on creating custom experiences for your website visitors by providing them with content that is tailored to their unique needs based on their behavior on the site.
- Test, test, and test some more! Always make sure to continually test and optimize your content based on performance in order to increase relevancy and conversion rates.