Wealth Management Organizations Can Boost Investor Experience Through Personalized Interactions

by | Nov 23, 2021

4 Innovative Ways to Personalize Wealth Management Communications

Customer experience (CX) is a key differentiator in today’s dynamic, digital environment and personalization is a critical CX enhancement tool. Companies today, including wealth management organizations, need to ensure they are providing customers/investors with personalized service and interactions. This will show that the organization understands them and their specific needs at each point in their journey together.

The wealth sector has been facing several key challenges, even pre-pandemic, including digital disruption from non-traditional competitors and a shift in how investors expect to interact with their wealth managers. To retain existing clients and grow their assets under management or administration, wealth companies must focus on achieving higher levels of satisfaction when it comes to investor engagement.

Personalization Drives Better Engagement & Revenue

Drives Interest

71% of consumers say a personalized experience influences their decision to engage.

– Dynamic Yield

Motivates Action

202% of companies see an increase in conversions when calls-to-action are personalized

– HubSpot

Increase Loyalty

28% of consumers have increased brand loyalty when communications they receive are personalized.

– SmarterHQ

Boosts ROI

95% of companies that saw 3x ROI from their personalization efforts.

– Monetate

Doxim offers a holistic CCM solution that will help boost investor experience and make every interaction count. Connect with a Doxim CCM expert in wealth management today


Understanding the value of personalization

Recent research by Keypoint Intelligence confirms that consumers recognize and respond to personalization.

About 45% of consumers spent much more time reviewing digital marketing communications that were personalized and relevant to them than generic communications. This share was even higher for direct mail (52%).

As cited by 43% of consumers, personalization was the top factor that made consumers more likely to read or review a digital marketing communication.

Only about 37% of consumers were frequently or very frequently receiving highly personalized marketing communications, so is there is certainly room for improvement.

Businesses have realized that personalization is particularly important to consumers. According to Keypoint Intelligence’s Vertical Visions research, 84% of financial/banking firms that used direct mail customized or personalized these pieces to have more targeted messaging. Of these firms, the vast majority report significantly or moderately higher response rates on personalized/customized direct mail.

Personalizing Wealth Management Communications supports the recent shift to Customer Experience Management

Across industries, we’re seeing a shift from Customer Communication Management (CCM) to Customer Experience Management (CXM).

It’s therefore vital to enhance investor experience through personalized interaction, and this can be achieved by engaging investors with communications that are:

  • Frequent and ongoing – to maintain good engagement
  • Connected across touchpoints of the investor journey – where one communication triggers the next
  • Omnichannel and delivered in the member’s preferred channel
  • Ad hoc and frequently interactive, supporting 2-way engagement
  • And, most importantly, PERSONALIZED

4 Innovative ways to Personalize Wealth Management Communications

The latest release of Doxim CCM incorporates 4 powerful new tools your wealth management organization can leverage to achieve effective, personalized communications that deliver business results:

  • Targeted, Personalized Onserts – drive demand by including onserts, which are advertisements and messages that appear directly on investor  statements and communications, in designated blocks. But, because no two investors are the same, marketing business users can segment their investors, design and upload onserts for each segment and apply logic – so that during document generation the process will automatically select and include the right onsert based on the individual investor’s data.
  • Self-Serve Correspondence – give your customer service team the ability to send urgent communications to investors. Doxim CCM Self-Serve Correspondence gives them the control, speed, and agility they need to rapidly author service communications and, in doing so, deliver a better investor experience.
  • Personalized, Interactive Video – satisfy investors, motivate them to act, drive conversions and wallet share, as well as lower the cost per sale with Doxim CCM Interactive Video. It delivers an interactive and personalized experience utilizing the same statement extract data that drives traditional print, PDF or interactive HTML statements – providing investors with a superior digitally engaged experience.
  • Interactive Documents – Provide rich, interactive information and personalized end-to-end engagement – all contained within the capsule of a PDF document and sent securely to the investor via email with Doxim CCM Interactive Documents.

How Doxim Can Help Wealth Management Organizations Achieve Their CXM Goals

As a single, trusted partner offering a holistic CCM solution that will meet all your CXM needs, Doxim can help you operationalize your investor 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 investors have become accustomed to and crave. Communications are also distributed through multiple channels (via print, PDF, HTML, email, text, and online interactive experiences) to further enhance the investor experience.

The omnichannel capabilities of the platform are such that when an investor calls in for support, the service representative 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.

Doxim CCM Interactive Video provides the ‘personal touch’ needed to simplify complex information and drive increased satisfaction and wallet share. Seamlessly integrated into the broader Doxim CCM platform, Doxim CCM Interactive Video will enable personalized digital experiences, such as interactive statements, or reports, that offer visual engagement and real-time interactivity.

Behind the scenes, Doxim’s seasoned customer experience experts can also help you encourage investor 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 you require to keep your investors’ sensitive data secure, plus the scalability and flexible pricing you would expect from a modern SaaS-based solution.

Let’s discuss how we can help personalize your wealth management communications to ensure a great investor experience. 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.

Our Bloggers

Erin Romo headshot
Erin Romo

CCM in Utilities

James Hall headshot
James Hall

CCM in Europe

Jason Pothen headshot
Jason Pothen

CCM in Utilities and Healthcare

Josh Noble headshot
Josh Noble

CCM for Banks and Credit Unions

Olga Zakharenkava headshot
Olga Zakharenkava

CCM Strategy

Scott Biel headshot
Scott Biel

CCM in Wealth & Insurance

Sean Kennelly headshot
Sean Kennelly

CEM and Payments

Guest Bloggers

Keypoint Intelligence logo
Keypoint Intelligence

CCM Industry Experts

Matt Chester headshot
Matt Chester

Utility Technology

Schedule My Demo