Category Archives: Best Practices

Four Ways CCM for Banking Can Help Financial Institutions

ccm for banking

Banks have had to deal with many issues that have driven customers away over the past several years – from unethical practices, to an increase in fees, to competition from other banks and financial institutions. While the focus has been on correcting some of the perceived larger issues, a major problem has slipped through the cracks: customer communications. This is why CCM for banking can help financial institutions as we approach the new year.

Customer Communications Management, or CCM, offers banks and other industries the ability to better communicate with their customers. Not all CCM software is built the same, however. It’s important for financial institutions to know what their customers will want in 2019, and how the right CCM software can help achieve this goal.

What’s the REAL Value of Customer Satisfaction?

what is the value of customer satisfaction

This should come as no surprise to you, but it’s worth keeping in mind: when your customers are unhappy with the service you’re providing, that lack of satisfaction will lead them to your competitors. You know customer satisfaction is important, though, so why read any further? You’ve got this, right? Right?

Just because you know something is important doesn’t mean you know exactly WHY it’s important. Not having the right information could seriously put a financial drain on your company. There are so many different aspects of customer engagement, providing a great customer experience – which leads to a high-level of customer satisfaction – might not be as easy as you might think.

What is a Strategic Communications Plan?

strategic communications plan

In order for your business to be successful, you need to be able to get your company’s message out there for current and potential customers to see. What does your company do? How can your company make customers’ lives easier? This is where having a strategic communications plan comes into play.

Surprisingly, many companies either don’t use a communications plan, or don’t really know what makes up a strategic communications plan. In fact, globally, 21 percent of internal communicators admitted that they do not employ any form of formal planning. That number jumps to 31 percent for North American companies. This means, more often than not, companies are being reactive instead of proactive.

CRM and CCM: What’s the difference?

crm

CRM software, or customer relationship management, manages your company’s relationships and interactions with customers – those you have and those you’re trying to convert into customers. A CRM system helps companies with sales management, productivity, and contact management, just to name a few.

While a CRM system, such as Salesforce, helps to streamline things, a CCM solution, or customer communications management, completes the customer management experience.

What is Customer Communications Management?

customer communications management

You’ve probably heard the phrase or acronym many times in meetings. You might have even looked it up on Google to see what it was and got a somewhat rudimentary answer. It seems rather self explanatory though, doesn’t it? Customer communications management … it’s just the management of customer communications. See, easy. Yeah, you know it’s not that simple. So, then, what is customer communications management?

At its core, CCM — there’s that acronym — IS the management of customer communications, but it’s more than that.

Legacy Systems: Don’t Fear Customer Communications Migration

customer communications migration

When it comes to change within a business, a small minority will embrace it, arms outstretched as if preparing to hug a long lost friend. For everyone else, the thought of changing something — such as customer communications migration — can bring chills, heart palpitations, and headaches. What will change? How much will it cost? How long will it take to change? How will this affect my department? And, the big question: How will this affect me?

Any of this sound familiar? It should come as no surprise, then, that the mere thought of migrating from a legacy, or antiquated, customer communications system to a modern, digital solution can start the beads of sweat racing down your face.

3 Ways to Clearly Communicate Using CCM

communicate using CCM

Communication is the key to any successful business. The type of communication, however, plays an important part in whether or not it’s successful. Some of your customers want to hear from you on a regular basis, not just once a month when you send them a bill. For others, getting just the bill from your company is enough. Regardless of how you communicate with your customers, one thing is constant — you must be able to communicate with them clearly. One of the best ways to do that is to communicate using CCM.

Without clearly defined customer communications management processes, your company runs the risk of sending documents that will not only fail to appeal to your customers, but might fail to communicate your ideas clearly … if at all. With the right Customer Communications Management (CCM) solution, it becomes a lot easier to convey what your company actually means in a way that’s better received by your customers.

Poor Telecom Customer Communications Are Sinking Your Company

telecom customer communications

How comfortable are you with your telecommunications company’s customer approval rating? While it might be easy to pass off less than decent numbers as an anomaly, statistics don’t lie – telecom customer satisfaction is low, and continues to drop. As a result, your customers are bailing on you and signing with your competitors. Can telecom customer communications help?

Experts realize an even bigger issue is the quality of the customer experience. Poor telecom customer communications will always lead to negative customer experiences, which in turn leads to fewer customers.

EXPERT INSIDER: Customer Communications Workflow

customer communications workflow

Effective communication will reduce the friction experienced by your customers. But, your problem isn’t that you don’t want to communicate, it’s overcoming the challenges associated with implementing an effective communication process. That is what Ecrion’s products are all about.

Customer communications workflow is one of the cornerstones of our Ecrion product. They orchestrate the communication process, whether they are fully automatic, or they involve some manual steps. A fully automatic customer communications workflow applies for cases such as SMS notifications, while manual steps are used in workflows that include data entry or reviews.

Better Customer Communications Creates Better Revenue

better customer communications

As a businessperson, you’re always looking for more customers. The more customers, the better, right? It’s deeply ingrained thanks to years of school, training, and hearing your coworkers talk about it constantly. It’s not a bad thing, since having customers means your company is bringing in new revenue. Sadly, you might not fully realize how much your business could be saving – and making – just by employing better customer communications.

Ask yourself why, then, do so many organizations exhaust countless resources chasing those who might – or might not – become customers, when there is value right in front of them? All it takes is better customer communications.