Customer Experience Management (CEM) isn't just a good idea anymore. Today, it's a requirement for reaching satisfaction goals, retaining and growing valuable customers and differentiating your organization from competition. Companies that have paid attention to customer experience, such as Best Buy, Marriott, and USAA, are reaping rewards, while companies that have lost focus have seen disastrous results. Several well-known brands have made headlines and lost customers as the result of a single bad experience.

So, what are companies doing to understand and manage the experience of their customers? To start, more organizations than ever are appointing a dedicated Customer Experience Officer. And, voice of the customer programs are becoming standard, helping companies figure out how to do a better job of listening to — and using — feedback from their customers.

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If there has ever been a time for change in marketing, this is it.

Many of us grew up with the Four Ps of Marketing: Product, Place, Price and Promotion. Do you know when the Four Ps of Marketing were invented? In 1960, by Jerome McCarthy. They were made leading-edge by Philip Kotler in his book Principles of Marketing in 1967.

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