Uk Businesses Looking to Enhance Customer Communications Need the Right CCM Platform

by | Jul 6, 2021

How A Cloud-based Customer Communications Management Platform Can Help UK Businesses Achieve Their 2021 Goals

The COVID pandemic has been extremely challenging for businesses, no matter what sector, size, or lifecycle stage.

It certainly changed how companies communicate with their customers. With little advance warning, organisations had to mitigate restrictions on face-to-face interactions by quickly providing ways for customers to continue receiving services and communication via digital/remote channels.

For a period, priorities had to be reshuffled to ensure continued operations, and avoid losing revenue in what was an unprecedented disruption of business-as-usual.

Now that some economies are opening up again, business priorities are not much different from what they were pre-COVID-19.

Priorities for UK companies specifically, include reducing costs and enhancing customer experience, among others. Finding a suitable CCM platform that addresses these priorities should also be a primary goal for UK businesses looking to enhance customer communications.

Let’s take a deeper look at these priorities and why they are key:

Icon: Reduce costReduce Costs: Many business leaders cite reducing costs as a top priority; understandable considering the lingering effects of the economic disruption. In a survey of UK CFOs conducted by Deloitte, 46% of respondents mentioned reducing costs as a corporate priority for 2021.

Icon: Cloud TechnologiesCloud Technologies: Many businesses had already prioritised this and begun the process before the pandemic hit. Companies that had not invested in cloud technology pre-COVID-19 were unable to react as quickly as those that had, to support remote working and digital customer communication. Moving key technologies to the cloud can help reduce costs, it also helps improve the organisation’s agility and speeds up its response to market changes.

Icon: Single VendorSingle Vendor: Another opportunity to manage costs is to consolidate technology vendors. For example, moving all customer communications onto a single omnichannel platform and thereby alleviating the management of multiple vendors.

Icon: Enhance Customer ExperienceEnhance Customer Experience: Enhancing customer experience also gets a mention as a priority, as does building data up and out, to provide the personalised experience customers want. With evolving customer expectations around communication channels, organisations need to have a data strategy that will extend their ability to not only personalize communications but products and services as well.

Icon: Information SecurityInformation Security: With an increasingly security-aware customer base, data protection and privacy requirements are also high priority. Let’s face it, information security and regulatory compliance will never drop off the priority list. As the risk landscape evolves, so businesses must adjust their security posture and continuously educate their employees and customers.

Why Doxim CCM is a good fit for UK businesses looking to enhance customer communication

Doxim CCM is a cloud-based, SaaS (Software as a Service) solution that addresses all the above business priorities. It provides the opportunity to consolidate all customer communication (across print and digital) onto one omnichannel CCM platform, supported by a single vendor.

Managing communications on a single platform provides consistency in customer communication, enables a single view of all communications that a customer receives and results in a better customer experience.

And finally, a dedicated security team manages all aspects of Doxim’s security posture and ensures that client data is protected at every point in the communication process.

Doxim’s secret ingredient for customer communications management

Doxim’s approach to pricing is unique and designed to assist companies with the transition from print to digital communications without the uncertainty of a transaction-based, variable fee. Doxim offers a predictable monthly fee, suited to the size of the company, that covers all communications.

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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