In today’s fast-paced business landscape, providing a positive customer experience has become a critical component of any successful business strategy. PwC reports that 73% of consumers consider their experience with a brand to significantly shape their purchasing decisions. Despite the clear correlation between the two, many businesses overlook the value of customer experience in proportion to what they offer. How can customer experience work in tandem with other processes of a business?
To begin with, let’s define customer experience. Simply put, it is the sum total of every interaction a customer has with a company. This includes everything from their first contact with a business, to the products or services they receive, to any follow-up communication after the sale.
On the other hand, Business Process Management (BPM) is a holistic approach to managing business processes. It involves the use of technology, data, and process improvement methodologies to streamline operations and increase efficiency. BPM aims to make business processes more agile, cost-effective, and adaptable to change.
Know more: How should you take advantage of BPO for Banking & Financial Services?
At first glance, customer experience and BPM may seem like two separate concepts. However, they are closely aligned. BPM involves optimizing processes to achieve desired outcomes, and one of those outcomes should be a positive customer experience. By using BPM to design and execute customer-facing processes, companies can ensure that each interaction with a customer is seamless, efficient, and satisfying.
There are many benefits to focusing on customer experience in BPM. For one, it can lead to increased customer loyalty, which is critical to the long-term success of any business. In fact, studies have shown that even a 5% increase in customer retention can lead to an increase in profits of between 25% and 95%. In other words, a happy customer is more likely to refer others to your business, which, in turn, increases sales and revenue.
Know more: The role of AI-Integrated BPMS Solutions in Driving Business Success
Historically, many successful companies have implemented customer experience strategies as a central focus of their BPM approach. For example, Amazon’s obsession with customer experience has been a major driver of its success. The company has implemented numerous programs to improve customer experience, such as one-click ordering, personalized recommendations, and fast and free shipping. As a result, Amazon has become one of the most successful companies in the world.
There are certain best practices to keep in mind while creating delightful experiences for the customer. These include mapping customer journeys, gathering customer feedback, and creating a culture of customer-centricity. By mapping customer journeys, companies can identify areas where customers are experiencing friction points and take steps to eliminate them. By gathering customer feedback, companies can identify areas where improvements can be made. Finally, by creating a culture of customer-centricity, companies can ensure that every employee is focused on providing the best possible customer experience.
To illustrate, let’s look at a couple of instances in which customer experience took center stage in BPM. In the healthcare industry, BPM has been used to improve the patient experience. By streamlining processes and reducing wait times, hospitals and clinics have been able to provide a more positive experience for patients. Similarly, in the hospitality industry, BPM has been used to create a more seamless guest experience. By using data and analytics to inform their business processes, hotels and resorts have been able to provide a more customized experience for their guests.
Know more: Top 8 Useful Digitalization Trends in the BPM Industry for 2023
As technology continues to evolve, BPM is likely to become more sophisticated in meeting the needs of customers. We need to stay ahead of the curve by investing in the latest BPM tools and technologies. Artificial intelligence and Chatbots can be used to provide personalized customer service and automate certain processes, enhancing the customer experience.
However, customer expectations will continue to evolve, and we need to anticipate their needs and provide personalized solutions. Predictive analytics and machine learning can be used to achieve this.
Therefore, it is imperative to place customer experience at the centre of our BPM strategy. Silos between customers and processes can keep businesses from operating at full throttle. By implementing best practices and investing in the latest technologies, you can improve customer experience, creating brand recall, customer value, and ultimately steering the success of your business!
Today, customer experience is one of the most important factors in the success of a business. By aligning customer experience with Business Process Management (BPM), companies can ensure that every interaction with a customer is seamless, efficient, and satisfying. This approach not only leads to increased customer loyalty but can also increase profits and revenue. It is crucial for companies to adopt best practices like mapping customer journeys, gathering customer feedback, and creating a culture of customer-centricity to create delightful experiences for customers. As technology continues to evolve, companies need to invest in the latest BPM tools and technologies to keep pace with evolving customer expectations. Placing customer experience at the center of BPM strategy can lead to brand recall, customer value, and long-term success.
