Is channel orchestration really possible in financial industry

Financial institutions are eager to run more campaigns, across more channels, and with greater precision, in order to reach their customers at the best possible time. All of this, however, necessitates the deft handling of complex data, systems, and teams. Not to mention knowing how to reach your customers through all of your various touchpoints: web, app, mobile, on-site, and so on.

Can the financial industry really benefit from channel orchestration? Many experts believe that it can, but success depends on your ability to properly manage all of the moving parts. In this blog post, we’ll take a look at what’s involved in channel orchestration and how to make it work for your business. Stay tuned!

What is channel orchestration?

Channel orchestration is a term that is now revered in the marketing world. Marketers are ecstatic that something as audacious as multiple or cross-channel customer engagements could yield enormous rewards. For the uninitiated, channel orchestration is the art of engaging customers across multiple digital touchpoints or channels.

The benefits of channel orchestration in the financial industry

Smart Connected Customer Experiences

Enter channel orchestration, a marketing strategy that focuses on optimizing a set of related cross-channel interactions that, when combined, form an individualized customer experience rather than delivering standalone campaigns. Simply put, most marketers recognize the importance of being customer-centric rather than campaign-centric.

Data Insights

What matters more than acquiring and analyzing data on customers and potential customers is what you do with that data. Insight-driven businesses assess the impact of applied insights and then optimize in closed-loop, agile cycles of experimentation and learning.

In other words, it’s all hands on deck to disseminate the data and collaborate to learn from it in order to increase campaign and targeting agility.

Marketing orchestration can provide an individualized customer experience while increasing revenue, loyalty, and internal efficiency for the marketer.

Organizing customized customer experiences

Orchestrating personalized customer experiences in real-time across all channels necessitates the ability to dynamically adjust to new opportunities related to individual customers. It means you not only know what has worked in the past, but you also have the systems and infrastructure in place to adapt to new incoming intelligence if past patterns are not the best predictors of the current opportunity.

Companies in this stage benefit from historical knowledge combined with real-time, always-on intelligence and feedback on an individual customer level, as well as the flexibility to adapt at the moment and at the relevant channel to what is best for the customer conversation at hand.

Conclusion

While it may seem impossible to manage and orchestrate so many channels at once, with the right team in place and technology to support them, channel orchestration can be a reality for your organization. 

If you’re interested in learning more about how we can help you achieve financial success through channel orchestration, contact SmartOSC Fintech today. We’ll be happy to answer any of your questions and get started on creating a tailored plan for your business.