More Targeted Messaging
Bankers are hungry for more campaigns, across more channels — and with higher precision — in an effort to reach their customers at the optimal time. But doing all this requires the artful navigation of complex data, systems and teams. Not to mention the understanding of how to reach your customer at all of your various touchpoints: web, app, mobile, on site, etc.
Many firms have heavily invested in digital channels for advertising and marketing purposes, and this, mostly, outbound digital brand experience can actually work quite well. But, what happens during or after the onboarding of a customer? Are these digital and offline channels connected and in sync? Has the digitization of sales, onboarding and servicing processes received the same attention and investment as advertising and marketing have? Is the upsell and cross-sell experience more convenient than the initial sales process? What happens when a customer initiates an inbound experience; does their brand experience still feel connected?
In other words, how can you ensure consistency across your disparate channels and moreover, target the right customer with the right message at the right time?
Smart Connected Customer Experiences
Enter multi-channel (or omni-channel) orchestration, which Forrester defines as “an approach to marketing that focuses not on delivering standalone campaigns but instead on optimizing a set of related cross-channel interactions, that when added together make up an individualized customer experience.”
Simply put, while most marketers understand the need to be customer centric as opposed to campaign centric, actually putting this into practice is proving to be more difficult. When you have so many moving parts and so many places for interaction, it can be overwhelming to ensure that the right messaging is adapted for the right person and platform. It’s not about one message in all the places, it’s about multiple messages in multiple places. But where to begin?
Data Insights
Beyond just acquiring and analyzing the data you gather on customers and potential customers, what really matters is what you do with that data. Firms that are insights-driven measure the impact of applied insights, then optimize in closed loop, agile cycles of experimentation and learning. In other words, it’s all hands on deck to disseminate the data and work together to learn from that data in order to create agility around campaigns and targeting.
In the report, “The Rise of Marketing Orchestration,” conducted by Forrester and sponsored by Responsys, they found that marketing orchestration can deliver an individualized customer experience while returning higher revenue, increased loyalty and greater internal efficiency to the marketer. But how to orchestrate all these channels?
Orchestrating Individualized Customer Experiences
Orchestrating individualized customer experiences, in real-time on all channels requires the ability to dynamically adjust to emerging opportunities related to individual customers. It means that you have not only the knowledge of what has worked in the past, but the systems and infrastructure in place to adapt to new incoming intelligence should past patterns not be the best predictors of current opportunity. Companies in this phase have the benefit of historical knowledge with real-time, always-on intelligence and feedback on the individual customer level, and the flexibility to adapt in the moment and at the relevant channel to what’s best for the customer conversation at hand.
Be Where Your Customers Are
A Customer Data Platform (CDP) brings all that data together, delivering the necessary tools to drive rich, relevant and engaging experiences that delight customers.
By automatically identifying top-performing and underperforming activities, you get a clear picture and actionable intelligence for the optimization of those customer experiences. By using the dynamic customer optimization capabilities of a CDP to create omni-channel orchestration, your marketing communication varies by individual customer, and the channels involved learn from and share data with each other. This allows you to maintain a dialog with each and every customer over the ever-expanding ecosystem of marketing channels, devices, locations and any other touchpoint where your customers engage with your brand.
