Make it Personal
It seems like everyone is talking about customer experience these days… and for good reason. A 2% improvement in the retention of your existing customers can equate to a 10% reduction in operating expenses. A 5% reduction in the customer defection rate can increase profits by as much as 95%. Clearly, retaining customers can pay, but how do you do it?
One way is to make your customer communications more “personal” by customizing your bills, statements and customer-facing notifications with customized and targeted messages aimed at attracting existing customers with additional products and services. One-to-one documents capitalize on the knowledge you have collected about your customers. The idea is that by including personalized marketing content you can transform boring, old-school customer communications into a beneficial marketing tool.
Problems of Personalization
The cost and complexity of making legacy documents more personal and more targeted is often a barrier for many companies; most solutions have been aimed at large organizations with enterprise-sized budgets and dedicated development teams. Indeed, until recently, getting personal with your customer communications required a great deal of time and money. Developing the required level of data agility and system functionality is something that most organizations simply don’t have the resources or ability to do.
Conquer the Complexities
That’s where we come in; you don’t need the granular complexity of a full scale personalized business intelligence solution to make the most of your customer communications. You can make your bills and statements much more powerful up-selling and cross-selling tools by segmenting and targeting your communications based on more generalized customer data. Indeed, you get the most bang for your buck by understanding and leveraging commonly known pieces of information – customer age, location and demographic, account type, or document type, for example – and customizing your content accordingly.
Take advantage of the information you already have about your customers by targeting specific promotions to match specific customer characteristics. For example, sending retirement planning information to an 18 year old customer wouldn’t make much of a splash, but send the same offer to customers aged between 45 and 60 and you’ll see more beneficial results. Thoughtfully controlling what information is going to which customer segment is a hugely valuable step toward making the most of your customer communications.
Are you ready to take advantage of targeted customer communications without the complexity? Check out our Customer Communications Center for more information. Contact us today to learn more about how DocOrigin can help you make it happen.