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03.03.05
Getting Control of Customer Communications Across the Enterprise Delivers Bottom-line Impact
Any organization for which customer communication is mission critical needs a well-defined strategy for communicating cost-effectively, accurately, and consistently with customers across all touch points. But implementing such a strategy can be a huge challenge, especially when it is not uncommon to have silos of information distributed across the enterprise, each with different customer data, business systems, regulatory content, workflows, and delivery channels.
Everyone in business today is focused on doing more with less. Organizations are continually looking for ways to cut costs and streamline processes, while still maintaining profitable growth. Most organizations are also faced with much more serious strategic and operational challenges to drive growth.
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In Search of the Invisible Customer
I am not an industry, a demographic, a class, a geography, or a segment. I am your most important customer, but you don't even know who I am. To you, I am invisible.
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Within the on-demand output arena, much discussion has centered on personalization, one-to-one marketing, targeted advertising, demographically tailored direct marketing, Web site individualization, and a multitude of other electronic and traditional methods of identifying and acknowledging your customers. Your competition may know them, market to them, and give them opportunities to buy products and services in an effort to keep them loyal. But it is imperative to the growth of your business that you find these invisible customers and make them visible on your radar screen.
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KeyCorp Enhances Statements With Exstream
After merging its private banking and investing unit with McDonald Financial Group - a brokerage, investment banking and corporate finance institution - in the late '90s, KeyCorp (Cleveland, approximately $85 billion in total assets) sought a strategy to consolidate statements for customers who have more than one account with the bank, according to Connie Markiewicz, senior product manager, McDonald Financial Group. The goal was not only to tie together statements from brokerage and other client accounts, but also to redesign statements to present more robust account information - both in paper statements and online.
In early 2003, KeyCorp selected an enterprise personalization solution from Lexington, Ky.-based Exstream Software. "For the robust statement that we wanted and the personalization aspect, we wanted a little more in-depth analysis and graphics - not just text and numbers," Markiewicz says. "We needed robust software to handle our needs for the statement - we wanted to give more on an output side, and we needed more flexibility."
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