Published on the 09/05/2023 | Written by Russ Townsend
The five factors driving growth in cx comms…
Improved customer experience and increased customer engagement have become of central importance to business growth, and with that, customer communications management (CCM) technology is evolving into a critical factor for business success.
The days of the blanket email newsletter blast have now evolved into streamlined communications through a variety of channels that are both customer and business centric.
CCM can help you create new customer relationships and nurture the ones you have by giving you the ability to customise content to the customers who are most likely to respond to it, delivered on the platform that they prefer.
Analysts have projected CCM uptake to continue growing at 12-15% p.a. for the next 10 years. In 2021-22, some sectors saw the number of companies adopting an enterprise-grade CCM jump by 20 percent.
There are several studies about organisations that implemented a CCM system that we’ve summarised below to illustrate the five factors driving uptake [click here for the full infographic]
- Increased operational efficiency
A study by the Data and Marketing Association found organisations experienced a 50% reduction in the time required to create and deliver customer communications.
“Our IT department was spending in excess of 3,000 hours each year developing and maintaining document templates. With Cincom Eloquence, we anticipate IT‘s involvement decreasing by 90% as the majority of these functions are more efficiently handled by business users.” – Brian Sorum, Director of Software Development
- Improved customer engagement
A survey by Forrester Research found organisations saw a 20% increase in customer engagement.
“We chose Cincom Eloquence given the clear benefits in improving passenger documentation by making them more attractive, personal, consistent, clear and relevant which will greatly enhance the customer journey, ultimately improving customer satisfaction levels. Multi-channel delivery is also an important consideration for us as we look ahead to engage with customers and agents using their channel of choice”. – Giles Hawke, Sales and Customer Service Director, Complete Cruise Solutions
- Increased customer satisfaction
A survey by Gartner found that organisations saw a 15% increase in customer satisfaction.
It makes sense when satisfaction links to being listened to, cared for, respected, and feeling like you’re part of the decision-making process. Timely and targeted communication that is personalised and specific to the customer issue or service is always going to be received better.
- Reduced costs
A study by AIIM found that organisations saw a 20% reduction in costs associated with customer communications.
“By eliminating the manual handling of each communication, we’ve been able to save countless hours and dollars. All our representatives have to do is hit ‘print’ on the letter, and the system does all the work. The efficiency, speed and ease of use with Cincom Eloquence is amazing.” – Scott Lutz, Vice President, Claims
- Improved accuracy
A study by the Customer Communications Group found organisations experienced a 25% reduction in errors in customer communications.
“When you have six or seven different people writing their own letters, they are not always the same. Using the templates and reusable component capabilities within the Eloquence system, we’ve been able to reduce our risks and ensure that we are compliant with the ever-changing regulatory environment.” – Scott Lutz, Vice President, Claims
Ultimately, CCM technology provides a competitive edge with significant, measurable improvements.
Cincom is serious about optimising your experience with Eloquence, a fact borne out in a recent survey of our clients where 96% rated the overall quality of the support they received from us as good, very good or excellent.
About the author
Russ Townsend is Senior Solutions Executive for Cincom Systems, helping A/NZ organisations with high volume customer communications needs to improve their communication performance.
If you would like to contact Russ to review any of these reports, please get in touch here.
