The banking industry often gets flak from customers about the quality of customer experience and support it provides. While there’s some debate about how bad customer service actually is in the banking industry, there’s little doubt that outsourcing customer support can improve daily life for those involved in the banking industry.
Here are just a few of the improvements you could see.
1. Improved Outreach
The perception that banks deliver poor customer service is perpetuated on social media; one person complains and a whole bunch of people repost and share the complaint. Others will chime in with their complaints.
But for every customer who complains, there’s an estimated 26 who are silent. Reach out to them by outsourcing your customer support efforts. Ask them about their latest interactions with the bank and inquire about what you could do to improve the service they received. You may be surprised with the results.
2. Getting a Better Resolution Rate
Most people mistakenly assume customer service is the be-all, end-all for most consumers. If they received poor service, they’ll jump ship. While customer service is an important consideration for the majority of people, it usually isn’t the deciding factor. Pricing, convenience, and more play into the decision to stay with a bank.
The biggest problem consumers have with your customer support? It doesn’t actually fix the problem. Imagine how frustrating that is: You call in with a problem, only to still have it fifteen minutes or half an hour later.
Outsourcing customer support can help you monitor and improve your resolution rate. By resolving more problems, you’ll have more satisfied customers—and fewer people tweeting about your “bad” customer service.
3. Cutting Wait Times
Many consumers don’t bother to call in because they assume it’s going to take too much time and effort. They dread needing to play phone tag or waiting on the line while your reps transfer them around or deal with other customers.
Cut your wait times by ensuring proper staffing; outsourced customer support can help you get the right number of reps on the line at any given time, night or day. It can also give you access to newer technologies, such as automated systems that answer common customer questions or virtual queuing, which allows customers to log their information and receive a callback when a rep is available.
4. More Knowledgeable Reps
Outsourcing customer support can give you access to highly trained and knowledgeable customer service representatives. Your partner should offer reps training and help them understand your brand. They should work with you to devise a plan to support your efforts to improve customer service, and they should implement that plan with their staff.
Your provider’s reps become expert call managers who can resolve your customers’ problems quickly and easily.
5. Around-the-Clock Care
You probably know how expensive it is to staff a call center around the clock. But you also know your customers demand it; banking inquiries are often urgent and distressing for consumers. Perhaps they just got in off the late shift and had their credit cards stolen while they were on the train. They don’t want to wait to call and tell you to cancel the card.
Outsourcing customer support can get you access to multiple centers located around the world, so you can offer your customers support anytime, anywhere. Whether they’re at home or traveling in Beijing or Rome, or whether they’re calling at nine in the morning or nine at night, your customer service reps are there to help.
6. Better Care
Perhaps the most noticeable improvement is the quality of care your customers will receive on a daily basis. You might notice a decreasing call volume in addition to lower wait times and a better resolution rate. Most of all, you’ll probably notice your customers are happier and more satisfied.