Let’s face it, no one looks forward to receiving bills, but your customers do expect them. These essential communications provide your business with a captive audience – and many businesses aren’t taking full advantage of the value these documents provide. Taking into consideration what your customers want in regards to bills and other transactional communications could result not only happier customers but also increased business.
The insurance industry has a reputation – perhaps wrongly perceived – as being stodgy and stoic. In some ways, perception informs reality. Many leaders in the insurance industry are still relying heavily on legacy systems and disparate software and programs to communicate with policyholders. With companies across all industries looking to improve relations with their customers, the ones who are employing a multichannel strategy are finding success and widening their customer base.
Research and consulting firm Celent is presenting a webinar on a timely topic addressing the way financial services providers can improve doing business in today’s digital age.
As enterprise communication strategies play a bigger role in customer experience and loyalty, there is an increased need to re-engineer the end-to-end processes for managing core servicing document output to resolve document related issues at their origin.
I talk with mortgage industry professionals every day. They are busy people trying to do a difficult job, too often under a microscope. In addition to struggling with servicing platforms that were originally designed in the 1970’s, they are all just one misstep away from another negative headline.
On Wednesday the 3rd of April, The New York Times reported that the Securities and Exchange Commission said that postings on sites such as Facebook and Twitter are just as good as news releases and company websites as long as the companies have told investors which outlets they intend to use.
A few weeks ago, I went to my local grocery store on a mission for cake. As I was browsing around the case, I noticed a table off to the side where they had individually packaged pieces. Enticing, I thought, but I needed enough cake for 8 people and buying a whole cake was not only easier but actually more cost effective. I made my selection and headed towards the checkout counter.
As we've learned over the past two decades, the most disruptive change to happen in our day to day lives is our ability to communicate with one another. We are able to connect with people—and businesses— instantaneously at many different levels at a very low cost. So failure to take advantage of technologies to manage or enhance all aspects of the customer relationship is to disregard the powerful influence of the web and its distinct advantages in cost, speed and interaction over “snail mail” and paper invoices that require manual handling throughout the invoicing process.
In our lifetime the single most disruptive technology to impact industries of all types—especially the mortgage industry—is communication technology. All one needs to do is look at the communication capability that now rests in the hands of the average high school student. Text messaging is the norm, iPhones and tablets are pervasive, not to mention laptops. It shouldn’t be so difficult for the average mortgage lender to grasp the potential significance of customer communications management (CCM).