Experience Management (XM)
Experience management is the activity where organizations measure and improve the various experiences they provide, not only to customers, but to all their stakeholders like vendors, partners, suppliers, shareholders and employees. Think of experience management as the interrelated bucket that holds all customer, product, service, brand and employee experiences. It’s an inward to outward approach.
The concept of experience management is rooted in the idea that experiences are a distinct and valuable offering which ultimately increases brand equity and the organization’s competitive advantage.