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.
Does your small or medium-size business need a new phone system? Then you're in luck! Our new, updated comparison guide helps you cut through superfluous information and narrow down your list of solution providers. Get the latest data on phone system features, pricing, and performance metrics in an easy-to-use format. more
The holiday season is filled with frenzy and excitement for businesses and consumers alike. Consumers prepare gift lists, compare brands and prices, and begin shopping with a vigor that is not present most other times of the year. For many businesses, the holiday season accounts for a large profit bump at the end of each year, and companies strive to exceed their goals and keep customers happy during this rush late in the year. more
There are a lot of possible reasons you might want to switch to a new phone system. The old one might cost too much or be too troublesome to operate and maintain. It might not be flexible enough. It might not be reliable enough. Or it just might not have the kinds of features and capabilities that you need in today’s competitive business climate. more
Did you know that according to 8x8, the tangible ROI of a unified communications solution for a 10,000-person enterprise is approximately $15.5 million? This isn't the only way unified communications can improve your business. more