How To Keep Customer Trust In Fragmented Communications Processes

In high-value transactions and complex service processes, maintaining customer trust is more challenging than ever.

With multiple parties involved and a variety of communication channels, ensuring seamless and secure interactions is essential.

We spoke with Carole Howard, our Head of Network Sales, to understand the challenges of fragmented communication in regulated industries and how companies can effectively navigate digital change.

The Challenges of Fragmented Communication in Regulated Industries

One Size Does Not Fit All

The shift towards digital communications, especially after the pandemic, has highlighted a critical issue: a single communication solution doesn't cater to everyone's needs.

Many companies have rolled out portals or secure channels, assuming they'll suit every client.

However, this approach often misses the mark.

"Not all recipients want to engage with a portal for a myriad of reasons. One size does not fit all."

— Carole Howard, Head of Network Sales, Beyond Encryption

Clients have diverse preferences and technological abilities.

While some may embrace portals, others might find them cumbersome or difficult to access.

This mismatch can lead to inefficiencies and delays, especially when timely responses are crucial.

According to Salesforce, 85% of customers expect companies to provide a blend of digital and human interactions.

This underscores the importance of offering multiple communication channels to meet varied client needs.

The Importance of Timely Communication

Speed matters, especially in high-stakes transactions where delays can have significant consequences.

For instance, relying on traditional methods like postal services can worsen delays.

In situations involving multiple parties—such as legal professionals, consultants, and insurers—the communication process becomes even more fragmented.

"You're potentially looking at a two-week delay on collating information for a transaction that is really urgent."

— Carole Howard, Head of Network Sales, Beyond Encryption

Maintaining Customer Trust Amidst Complexity

When communication breaks down, it's the customer who feels the impact, leading to frustration and a loss of trust.

Clients expect their information to be handled securely and efficiently.

Any hiccups can damage the relationship significantly.

According to Microsoft, 60% of customers say they'll stop doing business with a company after just one poor customer service experience.

"The minute that trust is lost, you can find somebody else to do business with, and you will find somebody else."

— Carole Howard, Head of Network Sales, Beyond Encryption

In an age where switching providers is as easy as a click, businesses can't afford to lose customer trust due to inefficient or insecure communication practices.

The Risks of Inefficient and Insecure Communication

The Dangers of Unsecured Emails

Under pressure to speed up processes, some professionals resort to sending sensitive information via unsecured email.

This exposes both the client and the business to significant risks.

"There's the obvious risk of data being intercepted by criminals. Email simply isn't secure in its native form."

— Carole Howard, Head of Network Sales, Beyond Encryption

According to IBM, the average cost of a data breach in 2023 was $4.45 million, marking a 15% increase over three years.

Furthermore, Verizon states that 94% of malware is delivered via email.

Apart from the immediate threat of data breaches, businesses face compliance issues and potential damage to their reputation.

Regulations often mandate the protection of outbound data, emphasising the need for encryption and verification measures.

Breaking Free from "We've Always Done It This Way"

Some businesses resist changing their communication methods, thinking that if it hasn't caused problems before, it's fine to continue.

However, this complacency can be risky given the evolving landscape of cyber threats.

"Cybercrime is huge now; it's an industry in its own right. We can't ignore it."

— Carole Howard, Head of Network Sales, Beyond Encryption

In fact, 95% of cybersecurity breaches are caused by human error, according to Cybint.

Sticking to outdated methods overlooks modern cyber risks and may fail to meet regulatory requirements for data protection.

Strategies for Effective Secure Communication

Adopting a Blended Approach

To tackle these challenges, companies should consider a blended approach to secure communications.

This means not relying solely on one method, like a portal, but incorporating multiple solutions to meet different client needs.

"Make sure you've got a secondary option to close that security gap because emails, even if it's just the odd one, are going out unprotected."

— Carole Howard, Head of Network Sales, Beyond Encryption

Secure email solutions with identity verification can offer a quick and user-friendly alternative.

They allow for secure exchanges without putting extra burdens on the client.

Understanding Client Preferences

It's crucial to recognise why some clients avoid portals.

Reasons range from password fatigue to preferring simpler communication methods.

The average consumer has to manage over 100 passwords, leading to what's known as password fatigue.

Businesses need to be responsive to these preferences to keep clients engaged.

"There will always be that subset of people within a business that will struggle to get clients to engage with their portal."

— Carole Howard, Head of Network Sales, Beyond Encryption

By offering alternatives like secure email, companies can accommodate various client preferences, boosting satisfaction and trust.

Key Considerations for Secure Solutions

When choosing secure communication tools, businesses should focus on:

• User Experience: Solutions should be easy for both staff and clients, reducing any friction.
• Two-Way Communication: Clients should be able to respond securely, ensuring smooth interactions.
• Compliance: Tools must meet regulatory standards, including data encryption and identity verification.

"Make sure it's not a secure email solution that just encrypts information in transit, but that it also has ID verification."

— Carole Howard, Head of Network Sales, Beyond Encryption

Continuous Evaluation and Adaptation

Implementing a secure communication solution isn't a one-time fix.

Businesses should regularly assess how effective their tools are and stay open to feedback from both employees and clients.

"Constantly review engagement and get feedback from the workforce to see whether or not you've had any feedback from clients."

— Carole Howard, Head of Network Sales, Beyond Encryption

This ongoing process ensures that communication methods evolve with technological advancements and changing client expectations.

In Summary

Fragmented communication processes present a significant challenge in maintaining customer trust within regulated industries.

By adopting a flexible, client-focused approach and using secure, user-friendly communication tools, businesses can improve efficiency, meet regulatory requirements, and retain the trust of their clients.

References

State of the Connected Customer Report, Salesforce, 2022

Dynamics 365 Global State of Customer Service Report, Microsoft, 2020

Cost of a Data Breach Report, IBM, 2023

Cybersecurity Statistics, Cybint, 2020

Password Security Report, LastPass, 2023

Data Breach Investigations Report, Verizon, 2023

Reviewed By:

Sabrina McClune, 03.10.24

Sam Kendall, 03.10.24