“We’d like your input on the best way to add some VOC input into our CJM to call out specific areas in the CRL where the CE isn’t as strong as it could be.”
Our hat is off to you if you could understand that sentence! If you’re left saying, “Huh?” don’t worry, you’re not alone.
Is it just us, or are there A LOT of acronyms floating around out there pertaining to the topic of customer experience management and customer journey maps? If you’re like most people who are researching the topic and building a case for why your organization needs a mapping initiative, you’ve noticed a sea of alphabet soup.
At Touchpoint Dashboard we aim to take the complex (and sometimes confusing) and transform it into the user friendly. We’re all about providing you resources to make your customer journey map project more successful. That’s why we’re providing this “glossary of terms” for you to use as a reference while you’re researching customer experience management and journey maps.
Glossary of Frequently Used Customer Experience Management / Customer Experience Map Terms
(Note that this is a work in progress. If you have other terms and acronyms to add to our list, please leave a comment with your contribution. We’ll be happy to add your input.)
- CEM – Customer Experience Management: The process of managing all of the experiences a customer has with a brand, company, product or service over the course of their relationship with company, product or service.
- CJM/CTM – Customer Journey Map / Customer Experience Map: These terms are used interchangeably. They refer to the process of using visual aides to map out and diagram all of a company’s customer touchpoints so you can see the journey a customer takes from the first moment they become aware of your company to when they purchase your goods/services, receive after sales support and all the way to the point when they recommend you to others. A map not only displays the customer journey, but it also provides insight into how different departments within your company work together (or fail to work together) to strengthen or weaken a customer’s experience at each touchpoint.
- CRL – Customer Relationship Lifecycle: This term is used to describe the steps a customer goes through when considering, purchasing, using and becoming a loyal user and advocate of a product or service. Every company’s customer relationship lifecycle is different, but the phases and steps a customer goes through are typically described as follows: Awareness, Investigation, Consideration, Purchase, Use, Satisfaction, Loyalty, Advocacy
- CRM – Customer Relationship Management: This is a term used to describe a company’s strategy for understanding, anticipating and responding to the needs of their current and potential customers in order to increase the value and longevity of its customer relationships. Simply put, it’s devising a strategy that enables a company to consistently deliver a superior customer experience.
- Customer Pain Points: This a term used to describe areas where a company fails to meet a customers’ needs and expectations, hence causing a customer to feel pain (or more likely to feel frustrated, inconvenienced or flat out fed up with you).
- Hot Spots: Key interactions your company has with its customers (touchpoints or moments of truth) where you can either win over a customer or greatly disappoint them and turn them away.
- KPI – Key Performance Indicators: This is basically a fancy way to describe the factors that are critical to the success of an organization. (For a business it could be net revenue and customer retention. For a school it could be graduation rate). It is a set of quantifiable measures that enable a company to gauge and compare the progress it’s making toward meeting its goals.
- Moments of Truth: This term refers to anyway and any point where a customer comes into contact with your company or brand and the impression that interaction leaves on the customer. It’s often used interchangeably with the term touchpoint. It is often the point at which a customer makes a decision to continue (or discontinue) their journey with a company.
- ROI – Return on Investment: In the financial world, ROI is used to measure the financial efficiency of an investment. It can be looked at as the amount of value or return (typically monetary) you get from a campaign, initiative, program, etc., as compared to the amount you invested in creating it (the time, money, etc. you spent).
- TP – Touchpoint: This refers to every encounter a customer has (or could have) with your company and brand. These “encounters” could be anything from sales calls, a voice mail greeting, a business card, website, advertisements, packaging, in-store service, etc.
- VOC – Voice of the Customer: This term refers to a customer’s expectations and likes and dislikes, from the customer point of view. It’s a market research tactic where researchers develop a list of customer needs and desires, organize them by customer segment, and then prioritized them by importance. Voice of the Customer studies typically kick-off any new product development or service initiatives and are very effective at helping companies understand how they can improve a customer’s overall experience.