How to Enhance Customer Experience Management (CXM) Through Communication

by | Nov 3, 2021

As organisations rise from the ‘ashes’ of the past 18 months or so, it has become clear that a focus on enhancing customer experience is imperative for business success. As a result, most businesses have had to change how they engage with and serve their customers. An obvious survival strategy in the current landscape is to elevate customer experience management. A great way to achieve this is by making a few key enhancements to your organisation’s customer communications.

But simply adopting digital communication isn’t enough. Organisations also need to focus on customer experience management (CXM). Gartner defines CXM as:

“Customer experience management (CXM) is the discipline of understanding customers and deploying strategic plans that enable cross functional efforts and customer-centric culture to improve satisfaction, loyalty and advocacy.”

So, while customer experience is the sum of all customer interactions and exposure with and to that brand, CXM is what the organisation does to manage and optimize customer experience. It is a combination of all the strategies, processes, systems, and technologies that a business employs for this purpose.

Doxim can help operationalise your organisation’s customer experience strategy and make every interaction count. Connect with a Doxim CCM expert today

CXM requires an understanding that no two customers are the same. Customers want to feel valued and be treated as individuals, so they expect organisations to provide personalised, seamless communications and interactions at all customer touch points.

Are you ready to boost customer experience through personalized interactions? Here are 5 customer communication strategies that will enhance customer experience management (CXM)

1. Assess the current state of your customer communications

The first step towards enhancing CXM involves assessing the current status of your customer communications. Audit all the communications your customers currently receive. It’s probably best to start with one or two high priority customer journeys, such as onboarding or renewals.

Step one in the audit process is to fully visualise the customer journey you’ve chosen. Print out every piece of communication associated with this journey and stick them up on a large, blank wall. Ideally, they should be put up in the order the customer receives them. If you notice that they have differences in design, tone, and calls to action, you know for certain that you need to take action to make things consistent.

Even if your communications are aligned from a design perspective, you should identify the best performing piece of communication, the one that gets the best results. As a team, you can then discuss what elements made it so successful and how to integrate those elements into other customer communications.

The third step in the auditing process is to take your team through each step in the customer journey from the customer’s perspective. Here, you can note where your communication can be improved.

2. Design your communication standard

 

Following the audit step, you can begin to address the communication issues you’ve identified. Design is the best place to start.

Using cues from the best performing communication, you can design your communication standard. This standard should also incorporate best practice in terms of layout, accessibility, and readability.

You also need to ensure that your design clearly displays the most important information and includes a clear call to action. As well as it being immediately clear what communication is about – it should be obvious to the customer in terms of what they’re expected to do.

The next step is to TEST. Assess whether your communications adhere to your design guidelines, meet accessibility requirements and are compliant with industry regulations, such as GDPR. You can also use A/B testing to further refine the message and your call to action.

3. Align all your customer communications

 

At this stage, you should have a design template on which to base your future communications. With this template in place, you can begin to align all your communications to ensure brand consistency.

The first step in the alignment process is to build out a plan for consistent creative design and tone of content in your communications. This will help you create a seamless customer experience across all your target communications.

Another important aspect of alignment is timing. By reviewing the frequency of customer communications across each customer journey, you can hit the communication sweet spot, rather than sending too frequently or not frequently enough.

The next step is to align the objectives of everyone involved in communication. Organisation-wide buy-in is crucial to creating a consistent customer experience.

4. Keep enhancing your communications

 

Now that you have communications that help improve CXM, you can look at ways to keep enhancing them.

It’s important to note that the design needs to be refreshed regularly. People stop paying attention to things that are familiar to them. Additionally, standards, regulatory requirements, and best practises evolve. It’s therefore imperative that your organisation adapts accordingly.

Another important part of enhancing your communication is to ‘listen’ to how your customers react to it. This can take the shape of direct feedback, as well as analysis of their interactions with each piece of communication. The more data you have, the better equipped you’ll be to refine your communication and optimise performance.

If you have done all of the above successfully and seen positive results, you can apply these steps to other customer journeys.

5. Leverage the power of interactive, personalised video

Now that you have strategies in place to audit, design, align and regularly enhance your communications, consider how you can personalise them to delight your customers and make them feel valued. Consider personalised videos!

Today, video is one of the most powerful ways to deliver information that resonates with the customer.

Research shows that 72% of consumers prefer to watch a video to learn about a product or service rather than read about it.

Converting bills, statements, documents, reports into interactive, personalized videos is proven to increase open rates, improve engagement and motivate a higher response rate. As much as 90% of customers who receive personalized video report greater satisfaction with, and a better understanding of, that company’s products and services

Organisations are under pressure from all angles to meet increasingly high customer expectations. Their best hope of doing so on a consistent basis is to use enhanced, seamless, personalised communication to manage their experiences.

How Doxim Can Help Increase Business Value Through CXM

As a single, trusted partner offering a holistic CCM solution that will meet all your CXM needs, Doxim can help you operationalize your customer experience strategy and make every interaction count.

Doxim’s omnichannel CCM platform can empower your business users to generate the frequent, ongoing, and personal interactions your customers crave, and distribute these communications through multiple channels (via print, PDF, HTML, email, text, and online interactive experiences).

The omnichannel capabilities of the platform are such that when a customer calls in to speak to a service representative or engages with a chatbot, both human and machine can provide immediate assistance by calling up the communication or document that the customer received. This keeps every customer communication connected, making multi-step, omnichannel customer interactions a reality.

Provide the ‘personal touch’ needed to simplify complex information and drive increased satisfaction with interactive video content. Seamlessly integrated into the broader Doxim CCM platform, Doxim CCM Interactive Video will enable personalised digital customer experiences, such as interactive statements, bills, policies, or reports, that offer visual engagement and real-time interactivity.

Behind the scenes, Doxim’s seasoned client experience experts can also help you encourage customer engagement and consult on creative communication design that delivers a great user experience.

And of course, Doxim’s customer communications management technology offers you all the security and compliance features you require to keep your customers’ sensitive data secure, plus the scalability and flexible pricing you would expect from a modern SaaS-based solution.

Let’s discuss ways to enhance your organisation’s customer communications to effectively boost customer experience management. CONNECT WITH ME

 

3. Expansion of digital products

As banking customer behavior shifts, banks must move with the times, or risk getting left behind. Many banks today are exploring the power and potential of open banking, which can allow them to offer more innovative products and services to their customers, as well as to better compete with fintech companies and other non-traditional financial service providers.

As you shift your banking business model to reach new segments or provide an enhanced array of services, communication becomes even more pivotal to your success. After all, if your customers don’t know which new services they qualify for, or how those services will help them meet their goals, then they are unlikely to explore them further. CCM technology can be leveraged here to provide personalized on-statement messaging that directs customers to the right products and services, as well as 1:1 personalized “explainer” videos to help them get started.

Adjusting your bank’s priorities to thrive in 2023

In an era of constant change, the key to successfully transforming your bank’s business model will be to stay attuned to the changing needs and preferences of customers, and to be open to exploring new opportunities and technologies that can help your FI stay competitive and relevant. But these new opportunities are doomed to fail if you do not clearly communicate their benefits and make it simple for customers to access them.

That is why transforming your customer communication strategy is the best first step to broader digital transformation. By updating your approach to communications to meet omnichannel customer needs, you also position your bank to communicate the benefits of changes in your broader organization, like new or enhanced products and services. The pace of change in banking has never been brisker – but with the right strategic approach to these changes, the future is bright.

Investing in a modern customer communication management and engagement platform is an essential part modernizing your banking strategy, as it can provide the personalized digital experiences that will keep your bank or credit union ahead of the competition. It helps provide a great customer experience, and builds rich relationships, which in turn results in customers for life and a competitive advantage in the rapidly evolving financial marketplace.

How Doxim can address the banking customer communications trends identified and help future-proof your digital banking strategy

banking customer communications trends

Doxim’s experienced consultants and omnichannel platform can help transform your customer experience in many ways, including:

  • Gathering and utilizing customer data to continually improve the personalization of communications.
  • Building trust with customers via communication (via print, PDF, HTML, email, text, and online interactive experiences).
  • Leveraging interactive video to drive personalized digital customer experiences, such as interactive statements, bills, or reports, that offer visual engagement and real-time interactivity
  • Putting customer data, including customer statements, at the fingertips of your service representatives for immediate and personal service.
  • Making a meaningful connection with value-added content, like information about philanthropic activities, on customer statements.

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