Close the Loop and Start Riding the Virtuous Cycle of CEM Success

So you’ve taken the plunge into the world of Customer Experience Management (CEM), you’re regularly engaging with your customers and collecting feedback, but you’re not sure that you’re getting the most out of this new data. Sound familiar? Don’t worry, you certainly aren’t alone. There is a long road between the first step of the CEM journey and the end goal of world class practice and only a handful of businesses get there on their own.

Fortunately, NICE Fizzback can offer a turbo boost, propelling you toward that elusive end point and the big wins of CEM. For starters, let us share perhaps the biggest secret of CEM success stories – Closing the Loop on Voice of the Customer.

Closing the loop is the process of aligning the fundamentals of your business to promote continuous improvement driven by voice of the customer. When the loop is fully closed, your business is able to ride a virtuous cycle of CEM success with continuous gains in customer satisfaction, loyalty, and, most importantly, profitability.  

Moreover, Forrester Research’s Ten Major Voice of Customer Trends finds that closed-loop processes are rapidly becoming the norm amongst those at the top of the CEM game. This means that when the loop is left open, not only is a wealth of potential value from your CEM programs left on the table but, increasingly, this stands to place your business at a competitive disadvantage.

So we’ve talked plenty about the benefits of Closing the Loop but what does it actually mean in practice? How about a road map to help you on your way:

Source of Figures: Weiss & Cesconi’s The Customer Experience Management Business Case

The NICE Fizzback solution provides businesses the ability to close the loop and unlock the true potential of CEM. Our experts can guide you through every step of the journey, taking you from the 95% of businesses that engage with their customers to the 5% that extract maximum value from CEM and deliver truly great experiences to their customers.

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