Customer experience management becoming important part of service strategy

The Caesars brand takes its service strategies seriously since it depends on customer satisfaction and loyalty to drive business, according to 1 to 1 Media.

The Caesars brand takes its service strategies seriously since it depends on customer satisfaction and loyalty to drive business, according to 1 to 1 Media. Guests come for vacation and entertainment, so their visits to the company could be jeopardized if they need to cut back on spending. To reduce the likelihood of this happening, the corporation takes a number of steps to measure its efforts and ensure customers are having the best experience, the source reports.

Customer experience management is a relatively new strategy. A recent Temkin Group Assessment found only 7 percent of large companies had strong customer experience benchmarks in place. With its massive amount of customer surveys, employee incentives, relationship management and social media strategies, it seems that Caesars is in that small group of businesses.

A key to managing the holistic experience is analyzing and taking control of every touch point through which the business interacts with its customers.

Forrester Research is set to release a book called, "Outside In," which will address the values of customer-centric strategies, the source reports in a separate article. In the book, the research firm explains that customer experience is a sustainable way for companies to gain an advantage over competitors in the digital age and that it's always a way method to boost revenue.

Fidelity Investments is one company took control of the customer experience yielded over $24 million in annual savings, explained the suit. It was able to save $4 million alone on its call center costs when it invested $20,000 to fix a log-in problem.

While these companies may be the leaders in customer experience management, nearly 60 percent of companies said they expect to have a firm grasp on the strategies in three-years time, according to the Temkin study.