With the evolution, acceptance and diffusion of digital technology every customer today is armed with powers that could never be imagined in a monopolized world. With a massive spread of smartphones and access to digital tools its now completely up to the consumers how they engage with their brand. Hence, CX experts need to be armed with a well-managed Customer Communication Management tools.
According to Gartner Customer communications management (CCM) is defined as the strategy to improve the creation, delivery, storage and retrieval of outbound communications, including those for marketing, new product introductions, renewal notifications, claims correspondence and documentation, and bill and payment notifications.
Benefits of an integrated CCM solution
CCM involves processing of large volumes of all incoming and outgoing communications with businesses and its customers. An integrated CCM solution leads to automating such communication and seamlessly connect them to work process. A successfully integrated CCM solution leads to mass creation and distribution of these correspondences.
With CCM onboard it helps organization to send personalized and targeted content in every correspondence by storing and retrieving data from multiple sources as and when required. Such solution offers multiple channels of communication by producing many outputs and formats from one input. CCM onboarding helps reduce error and lead to compliance by letting customers fill in forms digitally. It also helps in managing any branding changes across organization quickly and effectively by maintaining visual and thematic consistency across all communications.
Adopting the new CCM capability
For every banking and financial institution documents, forms, correspondence and statements form a vital source to interact with customer but with changing times they need to move ahead of old correspondence tools and move towards digital forms, electronic signatures and interactive documents. Hence, there is a demand for such CCM capability that not only works faster but readily adapts to the needs of modern customers. Creating a great customer experience is an imperative to retain your customers who no more want to be just treated as a number. Creating hyper-focused correspondence by offering what they want and providing information they need has become critical to remain relevant amidst competition.
Centralized CCM Advantage
Real-time, multi-channel and interactive communications can dramatically lead to improvised CX through a centralized CCM platform in various ways. Leading CCM integrations create hyper-personalized real time contextual communication across multiple channels. Hence you give your customers the option to engage with you through a platform of their choice. A centralized CCM solution leads to seamless onboarding with contextual well populated digital forms, electronic signatures and likewise.
A centralized CCM system ensures the delivery of a seamless brand experience for the customer regardless of the medium. An integrated and centralized CCM solution automates customer communications across multiple channels. Hence, an integrated centralized CCM software helps employees focus on critical communication resulting in reduced cost, higher ROI and revenue growth.
Adoption of customer communication management leads to reduction of IT costs as it offers business users with self-service capabilities allowing them to make marketing changes in communication without the need of any IT intervention. It thus leads to faster time to market as documents are processed in real-time. It also leads to centralized governance of content ensuring consistent management across the enterprise - maintaining legal and regulatory compliance across all communications in the company.
Getting over departmental silos - Way Forward
Operational inefficiencies, huge costs, delay and mistakes are some of the problems associated with organizations who have not yet opted for a centralized CCM solution but have separate departmental silos and teams for digital, print, mobile and web. Hence the need of the hour is to eliminate such silos with a centralized CCM integration. Many organizations including banking and financial services, insurance even today are working on print centric model designed 15-20 years ago. Enabling a seamless multi-channel CX strategy lies at the heart of adopting centralized CCM solution.
Espire being a digital and CX transformation expert is enabling leading banking and financial institutions, as well as insurance companies worldwide, to take complete charge of the complex customer journey. Our extensive capabilities in customer communication management have helped global businesses overcome challenges they face in various stages of their CCM strategy, such as pre-processing, document composition, post-processing, production set-up & post-production and communication delivery.
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