Community & E-worksite Marketing & Distribution (CeMD)

Community portal solution allows organisations to engage with members of their community to nurture trust and create advocates thereby improving customer retention.

What is CeMD?

Community & E-worksite Marketing & Distribution (CeMD) is an online platform that supports deeper meaningful engagement with members of a community. This member interaction on the CeMD not only supports learning and collaboration but it is a medium to generate and analyze feedbacks, retain and advocate brands. Organizations can implement CeMD to build virtual communities that offer personalized solutions and products to members via Choices Online Store (COS). These virtual communities can be differentiated based on the social interest or even personas and targeted by online marketing automation accordingly.

According to the Aberdeen Group 2018 Report,
  • Companies with an online customer community got a 58% return on market investment, (compared to 33% without communities), whilst achieving a 33% average profit margin per customer (compared to 22% without communities);
  • Companies using online communities shorten sales cycles by 8.5% year-over-year, whereas others observed a 1% lengthening of their sales cycles;
  • Firms using online communities decrease support costs by 32.9% year-over-year, whereas those without observed a 2.7% increase in costs; iv) Firms with online communities enjoyed 5.4 times increase in customer satisfaction rates.

The ideology behind CeMD is to build online communities that offer services for Financial, Insurance & Takaful products, by bringing together partners and customers on a single platform where everyone is allowed to share their views and experiences and get personalized tips, products and professional financial advice. The CeMD is integrated with a number of Enterprise Digital Framework modules for seamless and efficient journeys for all members of the communities. It can be easily integrated with social networking sites for improved brand experience and it can be used to support campaign management, lead nurturing amd customer feedback on products.

Why CeMD?

The advancements in internet technologies and ease of accessibility by the consumers, the search and research process before initiating a purchase has changed dramatically. The consumers are more informed and utilize mobile technologies from making both short term and long-term commitments. While many businesses tend to provide their clients with access to a website or social media presence, the role of online communities have seen a considerable rise. Adoption of community-based platforms in the financial sector is intended to give customers a seat at the table, where they can easily voice their concerns and share experience, provide testimonials and give product feedback with other members of the community.

For organizations this becomes a viable approach to engage, nurture and build strong relationships with their customers within a single platform. The CeMD allows customers to seek assistance from trained sales agents and customer service representatives via open forums, allowing customer issues to be resolved quickly and reducing servicing cost as a result. The CeMD solution also supports generation of direct sales revenue where it establishes a virtual marketplace to promote and sell financial products as per community needs. With the level of data generated from CeMD strong insights into the brands customer base, feedback and expectations can be drawn allowing better development of new products and effectively satisfying the needs of the community members.

Features of CeMD

CeMD allows its privileged members to publish blogs. The blogs can be categorized for better organization of information material and site users can share their comments and give feedback. It also allows control over comment feature where users can be prevented from writing abusive or bad words. With the help of message boards blog feedback can be gathered and help build content rating so that content can be improved and its success measured.

The community forums allow participation in discussions, sharing views, opinions and feedback and seek help from other members. It creates a mutually beneficial environment for community members and industry peers due to the knowledge sharing base. Organization of forum is completely up to the user’s discretion allowing customization for each client. Allows site visitors to subscribe to discussion.

CeMD platform can be integrated with social media platforms of your choice. This helps to share information across sites and target a greater online community. It helps create a social presence for the brand and the community platform, which enhances engagement, reputation building and monitor insight into the customer. Additionally, it can help in achieving a positive search engine optimization for both corporate website and online community platforms.

Perhaps one of the most important features of CeMD is the groups module. It allows setting up dedicated topics of discussion where members sharing the same interest can join and add value. The groups can be linked with social media, forums and blogs.

Private messaging enables customers to ask sensitive questions directly with customer service team and know that this will not be shared with others.

Robo advice chatbots enable 24/7 support both on servicing (claims, fund switching etc.), products and lifestyle financial goals (what is required to achieve a goal). At any time during the engagement, a consumer can connect with a financial advisor should they want face-to-face interaction.

Key person responsible for developing strategy to grow online community, understand member profiles, create content and community programs to help members find value & make connections.

Develop relevant lifestyle content mapping to products.

Activities, Campaigns & Forums for continuous engagement.

Based on real time persona identification, send personalized content & product offers to their needs.

Incentives to bring other members to the portals.

  • CSR activities
  • Localized event

Benefits of CeMD

CeMD

Community & E-worksite Marketing & Distribution

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