Code Red for CODE-P: What’s a Customer Omnichannel Digital Experience Platform, and the impact of a customer communication breakdown
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As customer communications management (CCM) continues to evolve to a more customer experience management (CXM) focus for companies at a rapid pace, we are seeing a new category emerge in the market. CODE-P’s, or Customer Omnichannel Digital Experience Platforms, enable organizations to offer a holistic approach to managing all customer communications – transactional, servicing and marketing – while simultaneously creating a more seamless and cohesive end-customer experience. The impact of this shift is significant – 63% of bank customers for example, say they would switch banks if communications don’t meet expectations. But if you’re trying to combine legacy systems it’s not an easy task, as fragmented systems were not designed to evolve together leaving you at risk for significant customer attrition. With the recent announcement of the acquisition of CEDAR CX by Precisely, this new CODE-P category is taking shape, combining the expertise of hosted managed service platforms with legacy CCM service providers. And Aspire believes this cloud-based solution will help companies further fast-track changes and innovation in regulated communications. Join this Aspire-hosted webinar to hear from experts Kaspar Roos, founder & CEO of Aspire; Greg Van den Heuvel, EVP & GM of Precisely; and Richard Bishop, Sales EVP of Precisely, on the future of this space and the impact customer communications can make on the success of your CX.
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Code Red for CODE-P: What’s a Customer Omnichannel Digital Experience Platform, and the impact of a customer communication breakdown
- 1. Code Red for CODE-P: What’s a Customer Omnichannel Digital Experience Platform, and the impact of a customer communication breakdown Kaspar Roos, Founder & CEO, Aspire Elizabeth Stephen, Lead Consultant, Aspire Richard Bishop, EVP Sales, Precisely/CEDAR CX Gerhard Heide, Senior Global Director, Strategy & Marketing, Precisely
- 2. Meet the speakers Gerhard Heide Senior Global Director Strategy & Marketing Precisely Richard Bishop Sales EVP Precisely Kaspar Roos Founder and CEO Aspire linkedin.com/in/kasparroos kaspar.roos@aspireccs.com gerhard.heide@precisely.com linkedin.com/in/gerhard-heide Liz Stephen Lead Consultant Aspire Elizabeth.Stephen@aspireccs.com https://www.linkedin.com/in/lizst ephen/ https://www.linkedin.com/in/richard -bishop-6a1a041/ Richard.bishop@precisely.com
- 3. Code Red for CODE-P: What’s a Customer Omnichannel Digital Experience Platform, and the impact of a customer communication breakdown Kaspar Roos
- 4. Why Customer Experience? Measuring the perception that customers have about your brand 4 80% 8% Companies that believe they offer superior CX Customers that believethey received superior CX Most businesses overestimate how well they do CX Or, put differently, most customers are not happy with their providers! Source: Understanding the New Digital Reality, 2020
- 5. 1 out of every 8 consumers will switch providers because of poor CX Businesses MUST get CX right or risk losing customers 5 “I switched providers because of poor quality of their communications” Source: Understanding the New Digital Reality, 2020 15% 75% 6% 4% Yes No Left for other reasons Don't remember
- 6. 0% 20% 40% 60% Insufficient data security Information is not relevant Misspelling name or details Not preferred channel Can't switch channels Boomers Gen X Millennials Gen Z 6 Source: Understanding the New Digital Reality, 2020 N = 2,000 consumers in the U.S. and Canada (Top) Which of the following aspects of a poor communications experience would be the most likely to influence you to switch providers? | (Bottom) Which aspects of a positive communications experience would you actually be willing to pay more for to receive? 0% 10% 20% 30% Superior data security Relevant and personalized Consistent experience across channels Choose where/how to receive Mobile communications Use video in communications Age is a crucial factor in cultivating superior customer experience
- 7. CX has strong impact on Loyalty Improving your communications has high impact on CX 7 Easy to interact Makes me feel signicant Offers value for money Is a sustainable provider I’m recognized Agre ed Yes No Yes No Yes No Yes No Yes No NPS impa ct +17 -38 +30 -29 +33 -25 +36 -20 +53 -13 Source: Customer (consumer) research, Aspire client Give customers control and take away barriers Increase personalization
- 8. 8 Customer Life Stages 1. Find 2. Sell 3. Deliver 4. Bill 5. Service 6. Engage Upsell / cross sell Referrals Acquisition & Retention Onboarding / Enrollment Critical Communications Direct Mail E-mail Coupon Forms Welcome survey Signatures Contracts Welcome kit Personalized videos Bills & Statements Renewal Letters Business correspondence Payments Direct Mail Email Notifications Customer service Mobile App Personalized videos Chatbot Portal Web-site Omni-Channel Means Lifecycle Marketing
- 9. Need to align transactional comms with marketing Marketing communications Transactional communications
- 10. Specify/Monitor • Requirements • SLAs/KPIs • Campaigns Create/ Manage • Template/Message creation • Campaign mgmt. • Orchestration Automate • Payments • eSignature/contracts • Correspondence Data Management • Data lake • CX measurements • Channel preferences • Archival Respond • Capture • Classifying • AI/sensing • Transcribing Distribute • Print • Email/html5 • Mobile/text Point solutions In real-life, CCM is a combination of solutions
- 11. And often not the solution to today’s problems 11 • Fragmented ownership of customer data • Complex and disjointed IT systems • Expensive software • Long cycle times • Many interdependencies Evolving client needs Business users in control Self-service (no IT involvement) Easy-to-use interface Real-time communications Multi-channel distribution Today’s reality
- 12. Scalable, cloud solutions are the way forward 12 • Fragmented ownership of customer data • Complex and disjointed IT systems Evolving client needs Business users in control Self-service (no IT involvement) Easy-to-use interface Real-time communications Multi-channel distribution Today’s reality Composition Data Processing Post Composition API / Services Bus (Message Orchestration) Mainframe, CRM, ERP Print ready files, XML, EDI, CSV à Data Security Encryption, User Access, Data Governance Normalization, Aggregation Postal sortation, Output management, Print Optimization Dashboard, Reporting, Template Mgmt. (Web Portal / User Interface) Client data sources Omni-Channel Output Printers, e-mail providers, HTML5 responsive output, digital mailbox (Nordics) Archive ß Service calls, data requests Communications à ß Responses Content Repository Delivery Preferences • Plug-and-play connectors • Cloud deployment • Configurable (Low Code) • Browser-based CODE-P Customer Omnichannel Digital Experience Platform
- 13. CUSTOMER OMNICHANNEL DIGITAL EXPERIENCE PLATFORM Build on the notion that the business wants to be more intentional in how they communicate and interact with customers. Goal Improve customer perception Right message at right time to the right person Journey mapping Is a necessity Journey maps transcend siloes. All communications are managed in one place Relevancy Customer interaction Sharedservice What is CODE-P? 13
- 14. Subheads need to be modified manually. Select Precisely Bold from the ribbon. Then change the Font color to purple: To move down a level for sub-bulleted lists, click on Indent More in the ribbon: Keep all headings at the default text style found on your slide Text style guide
- 15. Communication breakdown in practice and how to solve it Richard Bishop
- 16. Real-life Alert Example Poor Communications Use Case Customer • Simple mobile check deposit as part of insurance claim • Rejection alert due to inability to receive Money Order and Travelers Checks - none of which apply here 16 Call Centre Rep • Two frustrating phone calls to contact center • Incorrect information, wrong script • No ability to change message Impact • Increased cost • Increased customer frustration • Damaged brand
- 17. Many Customer Engagement Channels 17 Source: Capgemini Financial Analysis, 2021; World Retail Banking Report 2021 Voice of the Customer Survey To deliver an enhanced omnichannel CX businesses must Implement a digital CX layer to integrate all ecosystem players Enterprise Priorities
- 18. Common Reality 18 • One-off niche application builds • No shared data model, no end- to-end governance • Fragmented processes • Template updates take months • Limited ability to evolve CX with new channels or communication types CX CORE Digital Experience Platform
- 19. A New reality 19 Making Compliant Omnichannel Customer Engagement Easy Shared data model Integrated workflow Central governance • Evolve disjointed customer journeys where interactions lack insights • Leveraging data and workflow to meet individual needs • Controlled & connected customer journey • Each interaction is personalized for maximum impact & clarity Single Digital Experience Platform
- 20. Case Study Challenge • High communication and servicing costs • Each change cost ~$4K and 140 days • No e-delivery options for any customer communication 20 Solution • Rebranded with significantly improved customer personalization and preferences • Self-Manage, Track and Record over 1200 changes across 30M communications per year. Annual Savings • $2.9M for change costs, • $1.8M for e-delivery • Re-platforming to self-manage personalized targeted content • Automated manual fulfilment of letters and checks • Data leveraged to drive recon, personalization and analystics Results • US Bank with 6+M customers • 100s of templates, resources and content rules Financial Services Example
- 21. Meet the speakers Gerhard Heide Senior Global Director Strategy & Marketing Precisely Richard Bishop Sales EVP Precisely Kaspar Roos Founder and CEO Aspire linkedin.com/in/kasparroos kaspar.roos@aspireccs.com gerhard.heide@precisely.com linkedin.com/in/gerhard-heide Liz Stephen Lead Consultant Aspire Elizabeth.Stephen@aspireccs.com https://www.linkedin.com/in/lizst ephen/ https://www.linkedin.com/in/richard -bishop-6a1a041/ Richard.bishop@precisely.com
Editor's Notes
- Frustration image Call centre image? Remove most of text and just use image, text in talktrack Check image, contact centre, frustrated customer Clearly, an exception use case Wrong message, and no ability to change it Rep didn’t have access to what was sent to me. Representatives weren’t trained correctly on this use case 45 min phone call @ $20 per hour = $15 Customer frustration, brand damage Needed to deposit insurance claim check from water leak in my house Seems simple right? Well, read on. Typical Process: Take picture of check Receive alert via email it’s been received Receive alert to notify when funds available After initial alert notification of deposit, a rejection alert was delivered. The reasons given for rejection was inability to take: 1) Travelers Checks ??? 2) Money Orders ??? 3) Cashiers Check??? Non of these reasons applies to this situation – unaccounted for use case Required two phone calls to the contact center Representative didn’t have access to alerts, “can you read the alert to me” Clearly an exception use case- took 45 minus to resolve.
- Today you engage with your customers on a multitude of engagement channels but are you meeting your customers’ expectations Play with image
- Edit text down
- Too much text, perhaps two colums and image on right (Bank), combine solution and roi into 1 column, most of text in talk track Challenge Increased service costs due to rebranding randing Large scale local printing, on-demand comms and manual process in ops Significant cost and time required for changes to communications Previous changes cost an avg. of $3,933 per change & took 140 days No e-delivery options for any customer communication Solution Re-platforming enabled bank to self-manage personalized targeted content Delivered high-volume Welcome Kits and Tax Forms electronically Automated back-office manual fulfilment of letters and checks Data leveraged to drive personalization, recon, and customer analytics 300 templates x 300 resources x 115 content rules x 300 variable metadata Results Rebranded with significantly improved customer personalization and preferences Annual Savings of $2.9M for change costs, $1.8M for e-delivery Self-Manage, Track and Record over 1200 changes across 30M communications per year.