In my last two columns, I have been looking at contact optimization. I started with a definition (drive all customer communication based on behavior, preference and sophisticated predictive analytics) and continued with an explanation (develop a matrix to document communication priorities and provide a mechanism for enforcing them).
Solving the organizational challenges and gaining agreement on communication priorities is a sound start; however, leading relationship managers take their contact optimization strategies well beyond that. They develop contact programs that support personalized response-driven dialogs and prioritize individual communications for millions of customers simultaneously. Customer actions are continuously monitored to identify significant events that should trigger communications. Channel capacity is balanced with customer preference to ensure that each channel is focused on top priorities for both the customer and the business. Taking optimization to the next level requires an automated contact application that can balance all of these activities and still apply the organizations business rules and priorities. This month, I will look at the capabilities inherent in world class optimization software.
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