Learn About Behind-The-Scenes Lessons in Optimizing and Consolidating Communications
How can companies optimize their transactional, regulatory, and marketing communications to reduce costs, streamline processes, and improve the overall customer experience? It starts by taking an outside-in look, according to Lisa Meath from Broadridge Consulting Services.
I, as Managing Director and Practice Lead, Broadridge Communications Consulting on how “optimizing communications requires an outside-in look”, interviewed Lisa last month. Below are highlights of a recent Reimagining Communications podcast where Lisa shared how she’s helping companies transform their communications, starting from the ground up.
What advice do you have for companies when it comes to developing their Communications strategy?
Lisa: Understanding and defining the desired future state are critical.
With the end in mind, you can develop an achievable communications roadmap that takes the following into consideration: how to streamline your communications environment, how you want to be viewed by your customers and how you want to interact with them, how to deliver communications based on your customers’ preferences, and how to gain visibility into the customer experience and measure your results.
Why should companies consider their operations when it comes to improving the customer experience?
Lisa: When you look at how to improve the experience, it is imperative to look at the backbone of the environment: the Communications ecosystem. This includes people, processes, and technologies associated with delivering communications from document creation through output.
You’ve helped transform the Communications ecosystems for multiple companies. Does a particular consulting engagement stand out?
Lisa: We worked with a large global financial investment company that had more than 80 different solutions to support their Transactional and Marketing communications; their environment included siloed, disparate, legacy software and a home-grown infrastructure. Their goal was to improve the digitization of their communications, as well as be a leader in customer experience; however, with the antiquated technologies and the fragmented structure, it was difficult to achieve these goals.
Through our assessment, we uncovered significant redundant spend and resources, as well as identified opportunities to optimize the ecosystem. We provided solutions to simplify, streamline, and optimize their communications infrastructure – not only helping to align with their goals but also achieving cost savings of approximately $5 million annually.
What do you think the future brings for Communications?
Lisa: There will be a continual focus on the customer and user experience. How can communications be more relevant? How can processes be optimized so communications are getting to market quickly to meet customer requirements in the right channel with the right message? There’s still a place for print with a continual shift to digital. We’re going to continue to see opportunities to find cost savings. That’s just critical and a given for any company to keep competitive today.
Why should a company consider getting help from the outside?
Lisa: An external consultant brings an open mind and perspective when looking at the client’s environment to help them meet their objectives. The ROI comes from bringing in a consultative view that does not have any direct interest within a company – and it pays off. In our work with clients, on average, we find a 20% save – be it print optimization, vendor consolidation, sourcing of operations, or improvement of the communications environment. Ultimately, all of these components help improve the user and customer experience.
To learn more about how to optimize your communications, listen to Reimagining Communications with Lisa Meath and host Matt Swain.