Recent social and technological changes have led to a considerable increase in online interactions, especially regarding bill payments and accessing statements. Over 70% of customers now prefer to receive a digital copy of their communications (Aspire, 2023).
Consumers have embraced the digital transformation of customer communications, and companies must adapt or risk falling behind.
Meeting Customer Demands
Consumers across various industries are becoming increasingly demanding when it comes to how they engage with businesses. To stay ahead of the curve businesses must adapt to 4 customer communication preferences to meet customer demand: personalization, channel choice, seamless experience, and interactivity.
1. Personalization
Personalization significantly enhances the customer experience and drives engagement. In fact, out of 2000 consumers in the US and Canada, over a third, aged 40 and under, have left their digital provider in the past year because their interactions online were not personalized nor relevant (Aspire, Understanding the New Digital Reality, 2020).
Customers no longer want generic, one-size-fits-all communications. They expect messages and interactions tailored to their specific needs and preferences and are willing to pay a premium for these services. Personalization is now an essential component of implementing CCM software.
2. Channel Choice
Customers want to choose how they interact with businesses, whether through email, SMS, websites, or other channels. And according to a study done by Aspire, over one-fifth of consumers aged 40 and under have left their provider in the past year because the provider did not communicate through their preferred channels.
To effectively communicate with different consumer demographics, providers must be aware of their unique needs. For example, consumers who are 18-40 years old are less likely to send emails than those who are above 40 and prefer this method of communication. Having communication channel options will be a driver moving forward for all CCM software.
3. Seamless Experience
“Over 70% of customers want a digital copy of their communications. Based on Aspire’s past research, we expect enterprises to deliver roughly 44% of their transactional messaging by “digital only” means in 2024. At its current annual rate of growth, that figure could exceed 50% by 2026.” – Aspire, 2023
With digitization on the rise, companies will begin to offer the best experience they can find to ensure they retain customers and attract new ones. Businesses must ensure that digital platforms are user-friendly and straightforward, making it easy for customers to access their information and complete tasks.
As a result, getting ahead and outsourcing a successful CCM software is crucial to future competitive advantage and customer satisfaction.
4. Interactivity
Companies must allow customers to digitally interact with their communications, which includes features like online bill payment, real-time usage tracking, and customer feedback options. After all, “Nearly 40% of businesses say that adding digital channels is their most effective means of improving customer experience.” (Aspire, The State of CCM-CXM Transformation, 2022)
And while it’s imperative to add digital channels that allow for interactivity, businesses must also leverage channels in ways that provide clarity to help reduce customer complaints and questions to instead focus on releasing the best product/service that they can.
The Cost of Non-Adaptation
Adapting to evolving customer communication preferences is no longer optional; it’s a business imperative. Personalization, channel choice, seamless experiences, and interactivity are the cornerstones of meeting customer demands.
As we move forward, businesses that prioritize these attributes and invest in digital communication strategies will not only retain their customer base but also attract new customers who appreciate modern, convenient, and personalized interactions. By staying ahead of the curve, companies can navigate the changing landscape successfully and thrive in the digital age.
Leah Parisotto
Leah is a highly accomplished professional who earned her Bachelor’s degree in Business Administration with a specialized focus on economics and sustainability. Currently serving as a Business Development Representative at Doxim, Leah collaborates closely with her team to ensure she stays updated on the latest industry developments, allowing her to deliver unparalleled insights to clients during initial interactions.
