Why a Digital Communication Maturity Framework Is Key

by | Mar 4, 2021

How To Achieve Quick Wins Using A Digital Maturity Framework

Despite the acceleration of digitalization and channel adoption, most organizations still have a long-term outlook for their digital transformation strategy. This is especially true when the organization has to replace or integrate core systems.

While transformation takes time, it’s important to keep internal teams motivated with quick wins, as well as find opportunities for small improvements that result in noticeable changes for the customer.

It helps to map your digital transformation plan onto a digital communication maturity framework that identifies both the big picture goals and the smaller, incremental changes that are vital to a sense of progress.

Customer communication within a digital maturity framework 

For today’s connected consumers, digital communication plays a vital role in building relationships and is a great way to kickstart enhancements to the customer experience.

Plotting the maturity of your organization’s digital communication onto a fit-for-purpose framework provides a basis from which to plan an improvement strategy. This helps you to understand the incremental gains that will immediately improve CX.

At Doxim, we’ve spent time developing and refining our Digital Communication Maturity Framework, to help our clients build a communication transformation plan on both a short-term and long-term basis.

The framework helps to identify and implement quick, short-term wins to improve communication, while also framing the requirements to achieve the company’s long-term strategy for digital communication.

Indepth Maturity Audit

Doxim’s Digital Communication Maturity Framework

Our framework benchmarks an organization’s capability across six key competencies and measures progress from Novice as the starting point to Expert as the ultimate goal.  This model is built to focus on digital communication capabilities and place the organization into a particular level for each competency.

An important part of the process is to document the ‘as is’ situation to understand where each capability is positioned at the start. This forms the basis on which to plot actions that will move the business towards the next status level within the framework.

Another vital part of the framework process is to agree on business drivers. Most clients say they want to enhance their digital communication to improve customer experience. However, when prompted on specifics, it becomes evident that cost efficiency is the goal and customer experience the nirvana.

Unfortunately, starting with cost efficiency as the main business driver is not conducive to creating a great customer experience.

Transformation drivers an indicator of digital maturity 

Over the years, we’ve noticed a correlation between digital communication maturity and business drivers. Digital novices and starters are likely to be driven by cost awareness and efficiency, but as a company moves along the maturity line, the business drivers become more strategic.

The maturity framework cannot exist in isolation, however, and neither is it a once-off exercise. The process only adds value if applied in conjunction with customer journey mapping, and measuring progress along the way to keep moving towards Expert level.

Doxim Digital Maturity Model explaining all the stages

Doxim’s Digital Communication Maturity Framework Workshops

Doxim brings years of experience and capability in digital communication that will help you transform your customer communication experience.

Our strategic consulting and advisory team has developed tiered workshops, catering to small, medium and large companies and addressing different requirements.

Keen to discuss a Digital Communications Maturity workshop? GET IN TOUCH

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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