Digital customer care increases customer satisfaction and generates savings due to a higher degree of automation and fewer human-intense processes. Companies that miss out on a profound digital customer care strategy and its implementation leave growth opportunities unexploited and their revenues and costs at a thread, say Raffaella Bianchi, Gergely Gacsal and Daniel Svoboda in their McKinsey Digital article “Overcoming obstacles to digital customer care” from August 2015.
Still, many companies fail to successfully use digital customer care and digital marketing as a whole – often leading to slow client adoption of new channels. In their article, the three authors identify typical pitfalls during the establishment of digital customer care. Based on those, some key aspects can be attributed to successful strategies:
Enhance the digital experience
Electronic channels must meet very high consumer expectations. In order to provide a profound digital experience, channels must be:
With it’s clear layout and design as well as the single point of access for information about asset managers and their funds, altii can be used as a digital customer care channel providing (potential) clients with the information needed for their investment decisions.
Clear migration strategies
Digital customer care channels must be tailored to the target audience. Based on the audience and channel, clients must be incentivised to switch from the traditional to the digital channels. This process must be monitored and guided by a dedicated team.
Compared to traditional channels, altii provides investors with the opportunity to search for products fitting to their needs without communicating asset managers the information that they are searching for investment opportunities. Moreover, investors can do so by searching through products from different asset managers from a single source providing a convenient and fast access to information.
No fear of losing revenues
Although some digital channels perform worse compared to traditional ones regarding the generation of sales, they offer enormous potential as an advanced monitoring and potentially better customer insights.
altii is not a tool that replaces traditional channels. It is an alternative way investors can use to get an impression of the asset managers active in a specific market segment. Further, altii helps asset managers to get the investor’s attention using digital channels.
Align organisation and operations
Do not use your standard approaches on digital channels but adjust your organisation and your processes for the new world. This might include having a specific team managing new channels, adjusting customer data collection to new sources of information and to integrate digital in your strategy.
Using altii successfully requires some dedication to digital channels. The most successful asset managers on altii are those that understand how to use digital marketing and the attention good content is getting in the online world – may it be with market statements, videos or digital events.