A New Way to Personalize Your Customer Experience
cheryl wilson 270003VHSH firstname.lastname@example.org | | Tags:  customer-experience business-rules-management master-data-management business-rules product-personalization loyalty-programs operational-decision-mana...
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Customer expectations have always been transferrable across industries and organizations. Getting rewarded for our loyalty is one such example: When special incentives are offered by one type of business, others pick up the practice because customers come to expect similar rewards in exchange for their patronage.
Today, nothing has changed for business, except it’s getting harder to deliver on the rising expectations of consumers, especially those enabled with smart devices. They expect immediate, consistently good service through all channels at pretty much all times. Consumers are also getting used to personalization – being able to personalize products and services instead of choosing fixed options or bundles. These rising and transferrable expectations are challenging organizations and this challenge is igniting the need for intelligent decision automation that uses trusted data to deliver competitive experiences across channels.
Take the banking industry, for example: Customers are attracted to convenient, personalized products and services, whether banking at a local branch, online or by mobile phone. And they would like to be rewarded for their loyalty because they can easily take their business elsewhere. Given these realities, many banks are reassessing their infrastructure and delivery channels to ensure a higher quality of service and personalization.
However, providing a truly personalized customer experience is not easy or every bank would be doing it. Typically, there are three underlying conditions that make it difficult or impossible to deliver any competitive degree of personalization:
A New Way. Having said this, there are banks (and organizations across all industries) that are building more agile infrastructures that enable business users to quickly create new product offerings and deliver precise marketing promotions from a single interface, using a combination of business rules and master data management (MDM) technology.
Case in point, a global leader in European banking and financial services built a flexible framework that allows bank staff to:
By combining business rules and MDM technologies, this bank can:
more about how business rules and MDM can enable organizations to deliver on
the promise of product/service personalization, attend this upcoming webcast: The Latest in Advanced Product Personalization