Contact Centres - Future Strategies

Updated: April 11, 2010

Market Drivers: Key Trends in Financial Services


Several industry mega-trends are influencing the environment in which contact centers are now evolving. Among them:
1. Intensifying Competition.
2. Customer Backlash.
3. Organic Growth.

The Challenge: Irrelevant Offers and Inappropriate Interactions Undermine Relationships


Against this backdrop, financial firms are looking to their contact centers as a force for profitable growth. As the front line connection to customers, these centers are now expected to go beyond conventional forms of customer service and capitalize on opportunities to deepen customer relationships. Considering the diminishing returns and high risk of annoyance associated with outbound telemarketing, companies are becoming particularly interested in the possibilities of inbound marketing - which is initiated by the customer's call or visit to a Web site or even a face-to-face interaction in a retail branch.

The problem that contact center managers face is that their systems are inadequate for the growing demands being thrust upon them. They suffer from an:

1. Inability to Personalize Offers and Recommendations.
2. Inability to Manage Customers Across Channels.
3. Inability to Empower Front-Line Service Personnel.

The Opportunity: Intelligent Customer Interaction

Profit-minded contact centers are building their foundation on Customer Interaction Optimization platforms. This represents the next generation of intelligent interaction solutions - going beyond basic analytics to provide predictions around customer behavior and drive action that maximizes business benefits. Such platforms are software-driven solutions that provide recommendations to service representatives or communicate directly to customers, drawing on continually refreshed profiles of contextual and historical customer data. Such interactions may occur in the call center, within an IVR, on a Web Site or at an ATM or retail branch. These solutions are notable for their intelligence (drawn from real-time analytics and data on historic behavior),their orientation to the individual customer and their capacity to enable channel spanning interaction. Whereas today's call centers and Web sites are often siloed and rule-bound, the Customer Interaction Optimization approach is based on the principle that companies can most powerfully strengthen customer relationships through an integrated platform based on real-time intelligence.

Advanced Customer Interaction Optimization solutions are composed of several key elements including:
1. Real-Time, Personalized Guidance.
2. Multi-Channel Engagement.
3. Full-Spectrum Customer Insight.

Featured Research
  • How VoIP is Transforming the Healthcare Industry

    The healthcare industry, like many industries, is in the midst of an era of rising costs and an ever increasing pressure to drive down expenses. Now, what if we were to tell you that there was a simple solution to these problems? The answer is VoIP. And to make it sweeter, it allows for your hospital staff to utilize modern mobile devices as resources instead of antiquated phone systems. more

  • [Infographic] 8 Common Pain Points UC Eliminates

    Every company has moments of frustration, it is when these moments become extended periods of inefficiency, or pain points, where we start to see loss in productivity and employee morale. What truly sets a successful business apart from those of its competitors, is how they take these pain points and use them as opportunities to improve upon procedures and systems to eliminate pain points and move beyond what was the status quo. more

  • Go VoIP and Go Green

    You may be looking to switch to VoIP because of the cost benefits that it will bring your company, but did you know that it is also FAR BETTER than traditional phone systems for the environment as well? With environmental impact being at the forefront of both consumer and business minds, it is essential that business decisions are made now based on economic AND ecological impact. more

  • eGuide: Comparing UC Vendors

    Changing your company’s business communications solution is an investment in time and money that will touch everyone in your organization. A successful unified communications (UC) deployment should streamline everyone’s work flow, simplify IT operations and deliver a lowered total cost of operations. Your company deserves nothing less. more

  • Getting More from Your VoIP System

    Too many businesses fall into the trap of setting up their VoIP as a "plug and play" and getting to work. However, we have found that this thinking only leads to businesses failing to get the most out of their VoIP experience. We have put together an in-depth guide that will walk you through 15 easy steps to get more out of your system. more