Customer experience management (CEM) is a category of software that helps organizations track and manage customer interactions and feedback. This can include everything from customer service and support to marketing and sales.
CEM technology can help organizations to get a 360-degree view of the customer, understand their needs and preferences, and provide them with a personalized experience. It can also help to identify and resolve issues quickly, improve customer satisfaction, and increase loyalty.
CEM technology can be deployed in a number of ways, including on-premise, cloud-based, or as a hybrid solution. It is often integrated with other enterprise systems, such as CRM and ERP.
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Key Trends and Drivers
The major drivers for this market are the need to reduce customer churn and increase customer loyalty and the need to provide personalized customer experience.
Some of the key trends in the customer experience management market are:
- The increasing adoption of cloud-based solutions: Cloud-based solutions offer many benefits such as scalability, flexibility, and cost-effectiveness. They are therefore being increasingly adopted by organizations of all sizes.
- The increasing adoption of artificial intelligence: AI-powered solutions help organizations to automate various tasks such as customer segmentation, customer profiling, and customer journey mapping.
- The increasing adoption of omnichannel solutions: Omnichannel solutions provide a seamless and consistent customer experience across all channels. This is becoming increasingly important as customers use multiple channels to interact with brands.
- The increasing use of analytics: Analytics is playing an increasingly important role in customer experience management. It helps organizations to understand customer behavior and preferences and to make better decisions about how to improve the customer experience.
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Key Players
Some of the key players of Customer Experience Management Market are Adobe (US), Avaya Inc. (India), Clarabridge (US), Freshworks Inc. (US), Genesys (US), IBM Corporation (US), Medallia Inc. (US), Open Text (Canada), Oracle (US), and Qualtrics (US).
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