Customer Communication Management; Meeting Today’s Challenges, Planning for the Future

Customer Communication Management; Meeting Today’s Challenges, Planning for the Future

For many financial institutions, customer communications can become an afterthought. If account statements and e-statements, email notifications, and other routine communications are sent to customers in an accurate and timely manner, then leadership is satisfied and may just not give customer communications much more consideration.

But the truth is, today Customer Communication Management (CCM) technology is more complex and more important than ever before, and financial institutions that don’t recognize this fact miss simple and affordable opportunities to make a difference for their customers.

By Olga Zakharenkava

In a digital-first world, customer communications are more important than ever.

After all, in today’s digital world,  transactional communications are as close as you are likely to get to a monthly one-on-one appointment with each and every one of your customers. Instead of wasting this unique opportunity, you could be using it to convey meaningful, personal messages, providing them with an experience your competitors can’t match.

Holistic CCM Builds Customer Engagement

Modern CCM has evolved to include multiple customer touchpoints, both physical and digital, from account statements to email notifications, plus communications like targeted emails, and messages through your online banking website and app.

infographicCCM (1)

Additionally, optimizing and personalizing every outreach is becoming essential, as customers move away from in-person points of contact like branches, and towards digital-first relationships.

Financial instituitions that want to build a “trusted advisor” relationship with their customers need to look to all touchpoints – including transactional customer communications – as opportunities for meaningful interaction. Two essential facets of customer communications to consider in this regard are:

  1. The quality of the messages reaching your customer
  2. The consistency of your messaging strategy

Are Your Customer Communications Timely, Relevant, and Personal?

Have you ever received an offer for mortgage financing when you’re midway through a mortgage term? Or a “pre-qualification” notice for a credit card you don’t actually qualify for? Then you’ve experienced how disjointed, impersonal advertising can erode the FI/customer relationship and make your customer feel like an account number, not an individual.

In today’s data-driven world, customers expect more – more personalization, more assistance reaching financial wellness, and faster access to the products and services they need. Thankfully, advances in technology and data science have made increasing the relevance of communications simple and cost-effective. By using a business analytics solution to derive insights from the wealth of data you collect on your customers, you can identify the right offer for every customer. Then, deliver it through your CCM system, and include it on the transactional documents they open and review every day. The result? Increased share of wallet, and increased trust from customers who feel genuinely understood.

A Holistic Strategy for All Customer Outreach

Personalized offers on customer communications are a cost-effective way to increase engagement, and the higher uptake rate on these marketing campaigns can have a very positive effect on your financial institution’s bottom line.

But, to maintain that personal touch, consistency is key. Otherwise, your customers can easily get the sense that “the right hand doesn’t know what the left hand is doing” when they call in for more information on a statement-based offer and are met with a lack of understanding from your call center reps, who haven’t been informed of the campaign.

Instead, imagine a scenario like the one depicted below, where a customer who is pre-qualified for, and can make good use of, a Home Equity Line of Credit (HELOC) is offered one across several channels. Each channel offers consistent messaging about HELOCs, in different formats, and makes it simple for the customer to act on the offer and request the product.

infographic-HELOC-OFFER (2)

By managing all your communications centrally, as in this example, you can ensure that your customers have a consistent and trustworthy advisory experience with your organization, across all the channels that make up the modern banking experience. Today’s customers interact with your financial institution through many different mixes of channels, depending on age, comfort with technology, and personal preference, so an omnichannel communication strategy is a must-have to ensure your messages are reaching each and every one of them.

Get Personal with Modern Communications Technology

To achieve a unified strategy for customer communications that both answers today’s customer needs and sets your up for success in the future, you need scalable, flexible CCM technology that interfaces with your core enterprise systems and essential third-party service providers.  Once this modern technology stack is in place to power your customer communications, the benefits will be felt enterprise-wide. Your organization can go beyond maintaining the status quo for your communications, and:

  • Enable multi-touch, multi-channel data-driven outreach which leverages the transactional communications your customers are most likely to open and review
  • Enhance tracking for your marketing department, so they can adjust their communication strategy based on what’s working best
  • Empower customers to receive communications through their preferred digital and physical channels, at their convenience
  • Encourage your customers to see your organization as being made up of a unified  cross-functional team with shared knowledge and a singular focus on customer needs

If you haven’t taken a good look at customer communication management technologies recently, it might be time to consider investing in elevating your routine communications like bills and statements into branded relationship-building touch-points for added sales and loyalty. In today’s crowded and competitive financial landscape, a personal touch can be a powerful differentiator.


Olga Zakharenkava

Olga Zakharenkava is the VP, Demand Marketing at Doxim, the leading customer communications and engagement technology provider serving financial and regulated markets. Find out more at

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