A wealthtech firm managed to handle the deluge of panic enquiries at the beginning of the pandemic comfortably—through marcom digitalization.
A retail investment platform that provides personalized wealth management and investment solutions needed a better way to send SMS and email messages that could be personalized without requiring specialized IT and software engineering teams to tweak the coding and go through long software lifecycle testing.
The firm turned to its customer engagement vendor for answers, and staff were soon using a flexible and secure user verification Application Programming Interface (API) to authenticate clients in outreach campaigns through auto-generated, one-time-password SMS messages. Making the SMS message contextualized to fit specific scenarios for each client was also made easier through this upgrade.
For the email marketing communications system, improvements were made to allow staff to turn personalization suggestions into actual features in the system without having to involve the engineering and QA team. According to Junxu Lye, Chief Product Officer, Endowus, the abovementioned investment firm: “It doesn’t require a tech with specialized skills: our team can go in and make a change, visualize it, test it and then send it out. That increases our productivity. Because it’s so easy, anyone on the team can have a creative idea for something to communicate, and we can easily try it out and test it before it goes into the system.”
The improvements helped the wealthtech firm to deal with a surge in customer inquiries during the onset of the COVID-19 pandemic in 2020, allowing its marketing teams to respond swiftly without compromising on customer experience.
The customer success team was closely involved in the project and quickly began to see results. “They saw that our relationships with clients were taken to a deeper level in less time. Our text messages were more contextualized and fit the specific scenarios the client needed to establish them on their journey with Endowus.”
Lye said that Twilio—the customer engagement platform they were using and upgrading—had been an integral part of the firm’s ability to expand its product offerings: “When you communicate easily and personally to people, that helps them trust your organization.”
