As consumer expectations increase around timely, instant access to relevant information, the customer communications industry is gearing up to meet them. As a result, Customer Communication Management (CCM) has grown rapidly into a new, omnichannel reality over the past few years.
Where customer communications included static, one-way messaging, today’s communications solutions can help organizations realize the promise of real, measurable, all-channel customer interaction based on in-depth analysis.
But not all businesses have evolved to solidify CCM.
1. Lead Customer Communications
At least in adult organizations, representing 30% of the companies surveyed in Aspire’s recent research, IT users make contact decisions. These businesses maintain a document-based approach and invest in CCM only if it returns to a corner due to regulatory changes or equipment failure.
At this lowest level of maturity, CCM’s progress is based on strategy rather than strategy. For example, IT-led organizations may invest energy and capital in a push toward digital migration, but efforts will be less visible to meet concrete (but limited) goals or emerging regulatory needs.
You may be at this stage of CCM maturity if:
Your communication is restricted by law.
You have a print-based approach with limited and early online communication.
Communications with your customers are scattered or inconsistent (ie mortgage ads sent to your existing mortgage holders)
2. Line of Business (LOB) — Lead Communications
60% of businesses that find themselves amid a transition have handed over Customer Communications ownership to Line of Business (LOB) customers and have entered the second phase of CCM maturity. The investment in this intermediate phase focuses on securing the agility and adaptation required to achieve the fastest time for the market through the customer’s preferred communication channel.
While cost reduction is important as a means of funding these new initiatives, the primary goal is high customer satisfaction. However, problems arise when businesses reach a goal with an insular approach that does not take into account the needs of real, real-world consumers.
For example, a healthcare provider can spend a lot to set up a mobile app without having to hesitate to download their old customer base app or do sensitive business through it. At an even more basic level, while empowering helps organizations increase business value, internal silos often stay in place and prevent them from becoming completely customer-centric.
Your organization may be in the second stage of CCM maturity if:
You have some limited personal nature of messaging and channel.
You are working for timely communication but sometimes miss the mark.
Your communications are data-driven, but you realize you can do more with customer analytics
3. Lead Customer Interactions
In the third and final stage of maturity, CCM prioritizes the customer experience through real data analytics and travel insights. Each communication is checked to make sure it is relevant, tailored to the user’s location on the user’s journey, and calibrated to provide maximum lifetime value.
Aspire’s recent CCM research found that only 10% of businesses worldwide have achieved this level of CCM maturity. Going forward, these businesses will begin to adopt a vision that is visible from the outside, which will allow real consumers to shape their communication and control in the hands of central CX teams, which will reach consumers. Can guide an integrated strategy at every turn. Travel
As an adult CCM led organization:
Your conversations are deeply personal, timely, and relevant, as they are based on the full insights of the customer.
All customer communications are part of a multi-stage, comprehensive customer communication strategy.
Messages reach users via their favorite channel or device, and your focus is on emerging channels and developing preferences.
Accelerate your CCM evolution
A wise investment is an important part of CCM’s journey to maturity, but an organization cannot go its way to success. Because the customer experience is a combination of all interactions throughout the life cycle, the only real change is to develop technology to fully understand customer behavior and secure the ability to communicate in a channel and device-agnostic way.
Real change requires organizational changes to overcome functional silos and improve coordination and collaboration between business units, as well as to promote more efficient and automated workflows and processes. According to Forrester Research, these changes can be complex, but the rewards are significant, as focused businesses earn 5.7 times the revenue of their less customer-obsessed peers.
Customers were also mailed monthly and quarterly announcements and annual tax forms.
Their experiences with Amazon, Apple, Google, and other leaders in the digital marketplace mean that the companies they buy from the need to understand them and customize their offerings to their specific needs.
In contrast, companies that successfully communicate with their customers, make every interaction positive and win over their competition.Not surprisingly, companies work very hard to improve their customer communications.They place a very large amount of customer data fed into analytics and AI systems to generate customer insights.
They support call centers and print operations; Their digital marketing units monitor customer attitudes on social media.
It will not pause and restart or require a phone call to fix minor technical issues.A bank sends an introductory mortgage offer to a customer — unfortunately, it offers a better rate than the mortgage the customer already has at the bank.Health insurance produces very confusing benefit advertising descriptions, with customer service representatives immersed in responding to the same questions.A utility company will close the account on a wrong day — and label phone support as a back-office issue beyond their control.
CCM is a technology-based approach to communicating with customers and maintaining those communications over time and across multiple communication channels.What is Customer Communications Management Systems?Customer Communications Management (CCM) systems manage the methods used by an organization to connect with customers across multiple communication channels, to create and deepen customer relationships.Today, CCM is a table for companies looking to attract and retain customers.
Worried about not engaging your customers the right way?
Fret not, here are some customer engagement statistics to help you out
About ClientThis retail company is one of the top retail companies in India.
They offer a range of apparel and accessories and more for men, women and kids ranging from shirts, pants, dress, bags and much more.
The company operates around various stores and outlets across the country.Problem statementThe retailing company wanted to boost their conversions rates (the percentage of their website visitors making purchases on their store) and also increase the profit margin significantly.
This was because they were not able to retain customers since the customer loyalty programs were under-performing, which had only few sign-ups and low customer engagement.
