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How to Accelerate Digital Adoption and Reduce Costs with Better Customer Communications

Authors Photo Rachel Galvez | May 6, 2024

Key Takeaways:

  • Enhance your customer digital adoption strategy through automation, personalization, and omnichannel consistency that exceeds expectations and fosters trust and loyalty.
  • Drive efficiency and reduce costs with a unified hosted CCM platform that streamlines operations and eliminates costly redundancies.
  • Use data-driven insights and consistent, timely communication across channels to offer targeted promotions that increase customer engagement and revenue

How can your financial institution not only keep up with the digital age, but thrive in it?

You’re already aware that we’re in an era where customer expectations are higher than ever – that’s nothing new. But did you know that the right communication strategies can significantly accelerate digital adoption and reduce operational costs?

Let’s explore what you need to know about the right strategies and solutions that will satisfy customers and keep you ahead of the competition.

Understanding Digital Transformation in Customer Communications

What does digital transformation really mean for your customer communications?

It’s about more than technology – it’s about a strategic overhaul that connects every touchpoint with your customer. The issue for many financial services organizations is that technology, data, and business silos often stand in the way of fuller, faster digital adoption. Consider these questions:

  • Do different departments within your organization have their own systems for customer communications – all drawing from different data stores?
  • What about business silos – are customers receiving the same push notifications from different divisions like retail banking, card services, and lending groups?
  • What kinds of issues have come up due to problematic redundancies like these?

To avoid confusion, frustration, and customer attrition, transformation is a must. Effective digital transformation incorporates three key elements:

  1. Automation: streamlining interactions to reduce time and errors
  2. Personalization: tailoring communications to individual customer preferences
  3. Omnichannel communication: ensuring a seamless experience across all platforms, from mobile apps to in-person services

Ask yourself: Are your current strategies creating a cohesive customer journey that meets your clients where they are?

White paper

Need to Accelerate Digital Adoption and Reduce Costs?

This white paper will focus on the need to accelerate digital adoption and reduce costs to start transforming customer communications.

Strategies for Transforming Customer Communications

Perhaps you already know that your communications need a transformation, but you’re not sure where to start. And that’s understandable – transforming your approach to customer communications and boosting digital adoption can seem daunting, but it doesn’t have to be.

Let’s break it down into three key elements:

  1. Data-driven insights: How well do you know your customers? Trusted data gives you a deeper look into their preferences, so you can understand and anticipate their needs. Then, you’re able to craft messages that resonate on a more personal level.
  2. Omnichannel communications: With customers interacting through multiple channels, consistency is key. Are you delivering the same messaging online, in person, and on your mobile apps?
  3. Automation and artificial intelligence (AI): These tools aren’t just about efficiency; they’re about offering a superior, responsive service. From automated alerts to AI-driven customer support, how quickly does your technology adapt to customer needs?

When you incorporate these elements into your strategy, you transform your customer communications from simply functional to genuinely engaging, enhancing both satisfaction and loyalty.

What kinds of tools do you need to bring all of these components together? Let’s dive into the benefits of an integrated customer communications management (CCM) platform.

Four Top Benefits of a Unified Hosted CCM Platform

Ready to streamline operations, increase speed and efficiency through automation, and say goodbye to costly system, template, and infrastructure redundancies?

A unified CCM platform isn’t just a tool for financial services companies – it’s a game-changer.

Implementing a unified customer communications management (CCM) platform as a hosted managed service (HMS) can help you:

  • significantly reduce costs through digital transformation of your customer communications operations
  • increase digital adoption for your customers and business users through the automation of processes, improved engagement with omnichannel communications, and more

Here are four big benefits of implementing a unified hosted CCM platform:

  1. Build trust and elevate the customer experience with consistent omnichannel communications. Consistency, timeliness, and personalization across your communications are key to gaining customer trust and loyalty. Deloitte reports that 70% of consumers value consistent experiences across channels. Do your communications meet customer expectations? How can you improve?
  1. Communicate in real-time when issues arise. Immediate, automated responses not only solve issues faster but also prevent potential losses from fraud or errors. A strong CCM platform accomplishes this with instant notifications via SMS, in-app alerts, and email. Can your current system alert your customers in real time – saving them money and stress?
  2. Strengthen privacy, security, and compliance while reducing risk. With robust control over document management and compliance, you enhance auditability and reduce risks significantly. Using an HMS, in turn, lowers audit costs and the chance of facing regulatory issues. It also offers centralized control, automatic backups, disaster recovery, and personal data protection, boosting overall security and compliance on the platform. Are your communications as secure as they could be?
  3. Grow revenue with the right offers at the right time. Right place, right time: this is the promise of a smart CCM platform. Show your customers how well you know them by driving targeted, timely offers – and fine-tuning your approach based on their responses. How much could your revenue grow with a stronger understanding of your customers?

Stronger Customer Communications, Stronger Digital Adoption: Start Today

Leaders in the financial services industry know that it’s no longer just about keeping up, but about truly excelling in how we manage and revolutionize customer communications. Leveraging EngageOne™ software, including our hosted managed services is your key to effective transformation that results in increased digital adoption, reduced costs, and happier customers.

So, are you ready to redefine your customer communications strategy and achieve your digital transformation goals, faster?

Request a demo and read the white paper to learn more – including real-world success stories from your peers: Need to Accelerate Digital Adoption and Reduce Costs? Start by Transforming Customer Communications.