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Here's How to Retain Nearly 100% of Your Customers

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Are you ready for the latest in customer retention strategies: customer experience management (CXM)?

CXM is the successor to the customer relationship management (CRM) concept, which involves software for logging customer contact information and tracking key sales interactions.

CRM helps companies personalize their offerings. The focus is on optimizing the dealer’s revenue and profitability and only indirectly on a customer’s experience.

In contrast, CXM urges a “sea change” where a dealer’s focus moves toward optimizing each customer experience. The customer focus creates a higher perceived value, leading to great customer success.

To accomplish this, the numerous ways a dealer interacts with customers need to change, says Modern Tire Dealer contributor Dick Morgan in his article, “Customer experience management: Here’s how to create ‘advocates’ for your dealership through positive sales encounters.”

Read the article online or in the digital or print edition of the November issue of MTD, beginning on page 63.

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