This series of Adeptra ‘How To’ guides is designed to be a proven, practical way to reach your consumers and deliver effective communications based on the unmatched experience of the world leader in consumer communications.

Customer Situation
Financial services companies are working aggressively to implement more efficient, appropriate and consistent ways to communicate with their consumers. These three basic elements must not only meet and exceed  consumer expectations for service, but are also critical elements in solidifying  partnerships with their consumers.

Servicing consumer accounts quickly and efficiently when an event occurs is of primary concern to financial services companies. Events that trigger a servicing activity may come from either internal or external sources. The events then need to be immediately recognized and prioritized for actions. Examples of internal events include: fraud detection activity, collections activity, and general servicing actions that are part of the back-office process. Examples of external
events include: consumer actions on their accounts, servicing requests from consumers, inquiries on a consumer credit bureau, and activity that the  consumer may initiate but not complete in a self-service arena. All of these  events require actions that must occur quickly and efficiently in order to  maintain high levels of consumer engagement and satisfaction.

Furthermore, it is critical that communication with the consumer be appropriate for the type of event. A consumer communication that is inappropriate for an event or not aligned with any required next steps will negatively impact  consumer satisfaction. The best way to engage the consumer is to make sure that the communication helps to guide or complete the consumer event to a logical resolution – a resolution that is good for both the consumer and the  company.

The last element of the challenge is to manage consumer events consistently across the consumer lifecycle. While efficient processing and communication of a fraud event is expected, it can actually damage consumer satisfaction if it turns out to be the only communication that the consumer receives about the fraud event. To fully meet and exceed consumer expectations, business owners need to develop a communications strategy that recognizes and plans for core events.

When a core event does occur, it’s critical to have eective event recognition and processing— but there is another element of the consumer lifecycle that must be considered: event-based marketing. Event-based marketing is an excellent way to schedule and deliver relevant and valuable offers to consumers. Traditionally, financial services companies offer add-on services or products to their consumers during live conversations, a process driven by internal decisions to push specic products. However, this approach is an outdated, unaligned process that does not resonate with consumers. Typically, companies simply look at add-on services as a revenue generation opportunity.

Aligning an event with a marketing opportunity is very dicult for most businesses to accomplish successfully. With Adeptra’s broad industry knowledge and rened data analysis capabilities, companies have an opportunity to offer add-on services and products to the consumer in a manner that is efficient, relevant and valuable.

To learn more about this Adeptra solution please download the document below.