The global Customer Experience Management (CEM) Market is set to grow at a significant CAGR during the forecast period. Customer experience management and customer relation management involves a diverse set of processes. CRM methods and processes have resulted in minimizing turnaround time and costs for companies whereas CEM dynamics revolve around customer expectations and loyalty with the companies they do business with. The basic recipe for a good customer experience management is to turn customers from satisfied to loyal. In addition, the customer experience solutions operate as cross-channel, cross-touchpoint and cross-lifecyle.

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CEM market is driven by increase in use of personalization technology to enhance customer service in the service industries. CEM represents a set of technologies to enable a constant transformation within organizations in order to meet and determine customer expectations. Business organizations have acknowledged the essential need for customer experience since it helps organizations to leverage the brand value and help in customer loyalty, in turn reduces customer turnaround time. Moreover, rise in complexity in IT & Telecom sector involves challenges and complexity

Deployment segment for customer experience management (CEM) market comprises cloud and on-premises. End-user category for CEM industry entails healthcare, BFSI, IT & Telecom, manufacturing & government and energy & utilities. Touch point segment comprises social media, Email and call centers.

Geographical segmentation for customer experience management (CEM) market spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. North American and European markets are more likely to outgrow in the global market owing to constantly evolving business models and use of digital technology for customer empowerment. In addition, technological advances in cloud and big data analytics enhance end-to-end customer experience process. The key players profiled in the customer experience management (CEM) industry report are IBM Corporation, Oracle Corporation, Adobe Systems, Nokia Networks and Avaya Inc.

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Market Segment:

Customer Experience Management (CEM) Analytical Tool Outlook (Revenue, USD Million, 2014 - 2025)
    • Enterprise Feedback Management (EFM) software
    • Speech analytics
    • Text analytics
    • Web analytics
    • Other analytics

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The domain of B2B selling is not one that you can call simple and get away with. It’s the exact opposite of that. Yes, you figured it right

It’s a highly complex market, with intense competition from every side. As a result, sales teams are working outside of their work hours as well, most of the time. That’s not because they have added responsibilities, but because of the never-ending portfolios of complex products, bigger and more demanding quotes, and also satisfying their customers with an amazing experience.

All of this is a little too overwhelming, even for a team of the most dedicated sales reps. This is when something like configure price quote solutions make lives for everyone easier- for the sales reps as well the customers.

CPQ software solutions have been nothing short of a game-changer for B2B manufacturing companies. Configure price quote solutions provide an accelerated path for sales reps to put the quotes in a customer’s hands as quickly as possible. The right CPQ tool easily enhances an organization’s existing CRM systems, bringing to the fore a heightened degree of flexibility

As far as CPQ customer experience is concerned, things become too simple for them. Making a purchase is a very pleasant experience, as they get bragging rights to give a final design to their product before they purchase it. 

But a question arises- how to choose the best among many configure price quote solutions?

We have the answer for you! Keep reading on for more.

Factors to Consider When Choosing the Right CPQ Solution

CPQ implementation is a tricky business, and it works both ways. While the right CPQ tool can turn productivity on its head, landing on the wrong one can have the opposite effect. This is why it’s important to watch out for the right attributes for your choice of configure price quote solutions- 

• Financial Feasibility

There’s no use for a CPQ system that is so costly that you spend years recovering the cost itself. By striking the right balance between affordability and feasibility, you ensure that Return on Investment starts right away with the very first product sold. 

While some CPQ software solutions have a one-time flat fee, some offer a fixed monthly tariff. You should be able to make the right choice in terms of the financial model that suits your organization.

• The CPQ Architecture

Native and hybrid are two crucial CPQ architectures that differ on the grounds of their usability. Configure price quote solutions with native architecture is tailor-made for particular CRM systems, and cannot be integrated with other CRM systems.

However, in the case of a hybrid architecture, the CPQ system can easily work with any type of CRM or ERP system. Keep in mind that your regional teams might make use of different ERP or CRM platforms, and you will have to consider the kind of flexibility you are looking at. 

• Ease of Communication

A CPQ software revolves around major points of reducing costs, increasing productivity, and making quote generation a super-smooth process. Moreover, everything is trackable and guided selling is a genuine process.

All of this is done to foster better collaboration for both the sales teams as well as the customers. If your current list of CPQ software solutions does not include a tool that eases communication, then you need to keep looking.

• Ease of Use

Try to get a CPQ tool that’s simple to use. Applying too many brains to just navigate through is not what you should invest in. Smooth navigation also translates to efficiency in production elements like contracts, quotes, and other related aspects.

Clutter-free CPQ implementation leads to complete adoption within the organization as a whole, which is why it’s even surprising to find companies that have complicated platforms in the time of Agile methodologies. 

• Flexible AI & ML

In the present scenario, many CPQ solution providers boast of including AI on their platform, but this is limited to a few aspects in most of them. Such configure price quote solutions struggle when the customer base changes, market changes, and AI needs to implement changes to adapt and function with the changes. 

Get yourself a CPQ solution that can work in sync with Machine Learning feedbacks. This will ensure that none of your recommended products go out of relevance, thanks to constant upgrades in the store. 

• Don’t Go for Popularity

As an experienced sales manager, you may opt to recommend a popular CPQ without considering its merits and demerits to the management. This can take your organization to the opposite of progress at a pace where you won’t even realize what happened.

Invest a good amount of time to finalize a suitable CPQ platform and consider every option of every possible scale. A CPQ should be a one-time decision, and regrets will only lead to more damage. 

In The End

Configure Price Quote solutions have a lot of styles and scales. These are just a few of those factors that you should surely consider, while the other ones can depend on the kind of operations your business has. If you think progress is something you deeply strive for, KBMax offers a lot of features that will tick a lot of the right boxes for you.

The North America customer experience management market size is expected to reach USD 7,496.7 million by 2025, registering a CAGR of 17.1% from 2019 to 2025, according to a new report by Grand View Research, Inc. Owing to the intensifying competition across industries, organizations are steadily shifting from the traditional strategy of chasing sales targets and marketing to providing enhanced customer experience as a way of building long-term relationships with customers.

As a result, it has become essential for an organization to understand the changing needs of customers. Thus, the continuous evaluation of customer feedbacks to fetch valuable customer insights as a way of adding business value is becoming one of the top priorities across industries. Moreover, the rising focus of companies on integration with social media and mobile platforms to connect with customers and deliver enhanced customer service is also expected to drive the adoption of CEM tools in the near future. In addition, big data analytics is transforming business operations and customer interaction, necessitating it for companies to adopt advanced customer experience management solutions.

Request a Free Sample Copy of Customer Experience Management Market Report @  https://www.radiantinsights.com/research/north-america-customer-experience-management-market/request-sample

In terms of deployment, the adoption of cloud-based CEM tools has been on the rise in recent years. Cloud-based CEM solutions help organizations to address customer needs while providing a personalized experience. The cloud facilitates organizations to easily and quickly upgrade features across different channels to accelerate business transformation and, in turn, gain a competitive edge. A notable trend observed in the market is the migration of companies from large CEM vendors to small CEM vendors who offer industry-specific tailor-made solutions. This process is driven by two major factors, including pricing strategies of smaller vendors and their ability to offer customizable solutions. Large vendors are expected not to relinquish their share but witness slow growth.

Another key trend observed in the North America market is the increasing emphasis of large and medium-sized companies on providing multichannel services to deliver a seamless experience to customers across all touch points channels. Organizations are adopting business analytics tools such as sentiment analytics, speech analytics, and text analytics. Such efforts are expected to help enterprises understand the critical insights from unstructured data gathered from interactions with customers to provide enhanced digital services.

For further inquiries, about - Global Customer Experience Management Industry Analysis, Size, Growth, Trends and Forecast 2019 - 2025, click on this link – https://www.radiantinsights.com/research/north-america-customer-experience-management-market

Further key findings from the report suggest:

• The web services touch point segment is anticipated to witness the highest CAGR of 18.8% over the forecast period

• The speech analytics analytical tools segment is anticipated to grow at the highest CAGR of 19.2% over the forecast period. The rising number of contact centers and need for real-time cloud analytical solutions to enhance customer experience is anticipated to strengthen the growth prospects of the segment

• The cloud deployment segment is anticipated to register at the highest CAGR over the forecast period. The promising rate of advancement of cloud computing technologies is expected to create a steady demand for cloud deployment

• Key players in the North America CEM market include Oracle, SDL Plc, Verint, Tech Mahindra Limited and Zendesk.

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17-sep-19 The North America customer experience management  Market registering a CAGR of 17.1% from 2019 to 2025, according to a new report. Owing to the intensifying competition across industries, organizations are steadily shifting from the traditional strategy of chasing sales targets and marketing to providing enhanced customer experience as a way of building long-term relationships with customers.

As a result, it has become essential for an organization to understand the changing needs of customers. Thus, the continuous evaluation of customer feedbacks to fetch valuable customer insights as a way of adding business value is becoming one of the top priorities across industries. Moreover, the rising focus of companies on integration with social media and mobile platforms to connect with customers and deliver enhanced customer service is also expected to drive the adoption of CEM tools in the near future. In addition, big data analytics is transforming business operations and customer interaction, necessitating it for companies to adopt advanced customer experience management solutions.

Request a Sample Copy of This Report: https://www.radiantinsights.com/research/north-america-customer-experience-management-market/request-sample

In terms of deployment, the adoption of cloud-based CEM tools has been on the rise in recent years. Cloud-based CEM solutions help organizations to address customer needs while providing a personalized experience. The cloud facilitates organizations to easily and quickly upgrade features across different channels to accelerate business transformation and, in turn, gain a competitive edge. A notable trend observed in the market is the migration of companies from large CEM vendors to small CEM vendors who offer industry-specific tailor-made solutions. This process is driven by two major factors, including pricing strategies of smaller vendors and their ability to offer customizable solutions. Large vendors are expected not to relinquish their share but witness slow growth.

Another key trend observed in the North America market is the increasing emphasis of large and medium-sized companies on providing multichannel services to deliver a seamless experience to customers across all touch points channels. Organizations are adopting business analytics tools such as sentiment analytics, speech analytics, and text analytics. Such efforts are expected to help enterprises understand the critical insights from unstructured data gathered from interactions with customers to provide enhanced digital services.

Further key findings from the report suggest:

• The web services touch point segment is anticipated to witness the highest CAGR of 18.8% over the forecast period

• The speech analytics analytical tools segment is anticipated to grow at the highest CAGR of 19.2% over the forecast period. The rising number of contact centers and need for real-time cloud analytical solutions to enhance customer experience is anticipated to strengthen the growth prospects of the segment

• The cloud deployment segment is anticipated to register at the highest CAGR over the forecast period. The promising rate of advancement of cloud computing technologies is expected to create a steady demand for cloud deployment

• Key players in the North America CEM market include Oracle, SDL Plc, Verint, Tech Mahindra Limited and Zendesk.

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