Reportlinker Adds Dialing In: Enhancing the Call Center Experience
NEW YORK, April 26, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Dialing In: Enhancing the Call Center Experience
http://www.reportlinker.com/p0484939/Dialing-In-Enhancing-the-Call-Center-Experience.html
The call center remains an important part of the banking experience. Although it is generally less popular than the branch and has been eclipsed in some areas by the online channel, consumers remain comfortable with the convenience of telephone banking. Technological advances mean that call centers will continue to develop going forward and will remain a key part of a multi-channel experience.Uses Datamonitor's proprietary surveys to gain insight into consumer attitudes and behavior towards the call center channel.Investigates the future direction of telephone banking as technology develops.Provides case studies of best practice examples from across the globe.Despite advances in other channels, consumers and financial services providers agree that call centers remain an important part of the overall banking experience. For banks the call center is an important channel of interaction that permits closer contact with customers. Strategically this allows them to drive consumer loyalty and cross-selling.As a result of greater automation and the standardization of services, companies may be able to use customer service as a way of marketing themselves and competing with others. However, social media can also publicize negative feedback, and companies which do not improve their call center offering may find themselves at the sharp end of criticism.Technological change is likely to see a reversal of the need to group all call center staff in the same location. Call center agents are more likely to be able to work from home or even on the move due to the normalization of high speed Internet connections. The caller could be directed to a customer service representative located nearby.Understand what consumers value in the call center channel.Acquire insight into the possible future direction of the call center.Read case studies of financial services providers that have brought in innovative ideas regarding the call center channel.
Executive Summary
Call centers play a vital role for banks and their customers
Telephony remains important but is generally less popular than the branch channel
Consumers seek direct human contact when applying for a mortgage
Call center customer service faces some challenges going forward
Consumers in the UK and the US are more likely to feel that the call center service has deteriorated
Technological advancements will liberate call centers from their current confines
Social media is likely to drive up the need for excellent customer service
Voice biometrics is an area being trialed by some financial services providers
OVERVIEW
Catalyst
Summary
EVALUATING THE CUSTOMER EXPERIENCE
What does customer experience mean?
The evolution of customer experience
The importance of generating a satisfying customer experience
Providers are starting to focus on customer experience management
Most banks now have extensive programs in place to monitor customer satisfaction
Customer loyalty is the key to profitability
Financial providers need to improve the quality of the customer experience they provide
There is much room for improvement in the standards of service that banks provide
Banks should focus on differentiating their customer experience
Creating an attractive customer experience can enable banks to charge a premium for their offering
EXAMINING CALL CENTER PERFORMANCE
Call centers play a vital role for banks and their customers
Call centers are being used to drive loyalty
Cross-selling opportunities exist but financial institutions need to be careful how they use them
Telephony remains important but is generally less popular than the branch channel
Consumers seek direct human contact when applying for a mortgage
Online is the chosen platform for unsecured personal loan applicants
The telephone channel has an older age profile than the other main arrangement channels for unsecured personal loans
Consumers overwhelmingly resort to the telephone for assistance with financial products
Banks should ensure that their staff are knowledgeable and helpful to maintain customer satisfaction
Call center staff should be trained thoroughly, as the telephone is the most efficient channel for resolving queries
Call center customer service faces some challenges going forward
Consumers in the UK and the US are more likely to feel that the call center service has deteriorated
Consumers would be happy with better service even if it meant having personal details stored
Telephony fits in with consumers' desire for a multi-channel experience, but the branch remains key
In Australia an eagerness to satisfy the customer could lead to an increase in call center fraud
Call length remains a frustration for consumers when dealing with call centers
Waiting time is the biggest drawback for customer service on the telephone
A more efficient call center process would suit consumers who generally face time scarcity
Automated telephony remains an issue for consumers, with many resorting to speaking with advisors to resolve their concerns
Complaints to call centers have risen since the recession began, as overall consumer dissatisfaction remains high
THE FUTURE OF CALL CENTERS
Technological advancements will liberate call centers from their current confines
A move towards greater automation is likely to see call centers becoming increasingly dedicated to sales
Call centers will be able to use technological advancements to improve the service offered
Call centers may become decentralized, leading to considerable cost reductions
Social media is likely to drive up the need for excellent customer service
Customer analytics remain a fundamental part of the call center offering
Strategy one: improve waiting times
Call centers arranging to call back can be more convenient for the consumer
Bank of America is winning awards for its "contact center" business
Sberbank is looking to improve the customer experience by connecting customers to call center operatives through various means
Strategy two: humanize the call center experience to drive consumer engagement
Australian insurer AAMI pledges to offer the chance of a real person to speak to 24/7
ANZ is differentiating itself through its call center offering
Handelsbanken has moved away from the call center model entirely
Crédit Agricole offers British expats a call center service in English
Strategy three: improve the education and information available to staff
The Royal Bank of Canada encourages a high level of expertise among its customer service representatives
HSBC's "One HSBC" campaign is a multi-channel program that promotes an aligned customer experience
Voice biometrics is an area being trialed by some financial services providers
APPENDIX
Supplementary data
Optimizing Call Center Performance chapter
Definitions
IVR
Methodology
Further reading
Ask the analyst
Datamonitor consulting
Disclaimer
To order this report:
: Dialing In: Enhancing the Call Center Experience
Check our Company Profile, SWOT and Revenue Analysis!
CONTACT
Nicolas Bombourg
Reportlinker
Email: [email protected]
US: (805)652-2626
Intl: +1 805-652-2626
SOURCE Reportlinker
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