Social media and new technologies dominate the marketing landscape, which means consumers’ attention spans are shorter than ever. New apps, call-to-actions, and other customer communications tools are being thrown in consumers’ faces each day. The task of attracting an audience’s interest and maintaining it for the long term is a daunting one. If your company can’t attract an audience’s attention from their very first visit, you risk the chance of them never returning. Customer Communications Management systems allow institutions to effectively monitor customer engagement and transform that data into results.
Guest blogger A.D. Kent, Managing Partner for DocVentive, discusses the topic in today’s post:
In a world where everything is interconnected with information at your fingertips, technology is fundamentally changing how consumers engage content. The rapid adoption of smart phones and tablets affords convenience and control over content, while easy access to social media sites creates an unprecedented sense of community and engagement at the touch of a button. In short, consumers are demanding information that is contextually relevant with their interests and provides an experience that they can interact with.
So, what does this mean if you're an Insurer or Financial Institution looking for a competitive advantage? Well, you should view each piece of correspondence with your customers as a chance to engage and monetize through personalized content. This means looking for opportunities to gather information with each encounter, and using that information to refine targeted messaging and content on the next communication event. This also necessitates reliance upon a robust Customer Communication Management (CCM) platform capable of delivering on these goals – an exercise that isn't exactly native to the present-day CCM vendor solutions. Nonetheless, through this continual refinement of correspondence, you can empower and satisfy the consumer in ways that fit the social patterns and behaviors that they desire most.
At DocVentive, we specialize in helping companies achieve their customer communications objectives and goals. Based on our experience, we believe organizations need to do the following five things to implement an effective customer communications strategy:
To implement this strategy, you need a robust CCM technology platform capable of omni-channel delivery that can produce output that is medium- and device-aware. Today, most of the major CCM vendors do a very good job of producing content that is highly-accurate and "full-fidelity" across a wide variety of channels. However, they are challenged to produce personalized content that is device-aware and capable of self-formatting to accommodate the optimum viewing conditions of a particular mobile device. CCM vendors who manage to add these game-changing personalized mobile content capabilities without fundamentally compromising the normal document-creation and production process will be poised as market-leaders in the area of marketing automation and personalized communication.
A CCM vendor able to produce personalized content optimized across a broad variety of mobile platforms would be able to engage audiences more efficiently and more effectively than through static content offerings. For example, a financial institution can offer targeted promotions and cross-selling opportunities optimized perfectly for an iPhone user that would bring the customer straight to their website. These types of offerings enable organizations to engage users with little time, who may be on the go, or who use their mobile devices to access banking information frequently.
I'm pleased to say that we're starting to work with a number of forward-thinking organizations who see tremendous value in leveraging new technologies to implement a strategy of engagement and personalization. In doing so, they've come to understand that every engagement with the customer is an opportunity to gather information and provide personalized content. In return, they'll be able to monetize their investments in CCM by empowering and engaging the consumer to purchase products and services that interest them the most. Importantly, a comprehensive CCM strategy that is capable of engagement and personalization through mobile delivery ensures that customers will become repeat purchasers and likely advocates for their organizations.
Oracle Documaker Enterprise Edition enables insurers to dynamically create, manage, publish and deliver adaptive enterprise content throughout the insurance business lifecycle – across all distribution channels and lines of business. Oracle Documaker Enterprise Edition offers a cost-effective way to address the design, production, and omni-channel delivery of a broad spectrum of documents, from highly structured transactional documents delivered in high-volume batch to highly personalized interactive correspondence delivered on-demand. Oracle Documaker Enterprise Edition delivers rules-driven document lifecycle automation for improved customer satisfaction, business agility, efficiency and reduced costs.