Customer Effort Daunting for some Financial Services Call Centers

The recent release of the CX Snapshot Report on Financial Service contact centers provided insight into the challenges that many of these organizations face related to securing new customers. Acquisition calls were placed to the call centers to secure new credit cards should be a fairly straight forward process yet this isn’t always the case. The Financial Services contact centers scored just 27.6 out of a possible 100 point!

We know intuitively that when some wants to purchase from us we need to make it simple and easy, but many of the Financial Services contact centers seemed to have disregarded this. many required an substantial effort by the customer just to get to speak with an agent;
* One financial services contact center had an uninterruptable IVR,
* One IVR had 8 options and 4 levels before you could get to an agent,
* Another required more than 4 minutes of pushing buttons to reach an agent,
* Hold times varied from 20 seconds to more than 5 minutes,
* More than half of the financial services centers had hold times to reach an agent of over 2 minutes.

Only 1 center had prompt answering and an interruptible IVR. Perhaps not surprisingly this organization also scored best in 4 of ten categories.

CX Snapshot delivers a Customer Experience scorecard from the perspective of the customer and assesses 30 variables across three dimensions of the Customer Experience: Customer Effort, Emotional Connection and Rational Connection.

For more information regarding CX Snapshot please contact Colin Taylor or Bruce Lebowitz

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