HOW BUSINESSES CREATE PERSONALIZED EXPERIENCES TO BOOST CUSTOMER RETENTION: THE ROLE OF TECHNOLOGY AND HUMAN INTERACTIONS IN CUSTOMER SATISFACTION

This study explores Customer Experience Management (CEM) as a crucial strategy for business success, focusing on personalized interactions and the balance between technology and human touch. The objective was to assess how businesses leverage CEM to improve customer satisfaction, retention, and loyalty. A mixed-method approach was adopted, involving quantitative surveys of 150 businesses and qualitative interviews with 20 senior managers. Results show that companies implementing effective CEM strategies reported a 25% increase in customer retention and a 30% improvement in customer satisfaction. Additionally, personalized interactions powered by AI contributed to a 15% increase in customer retention. Despite these advancements, 59% of consumers still prefer human interactions for complex needs. The study concludes that successful CEM strategies require a balance between automation and empathy.