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Credit Card Companies: Pay Heed to 'Multichannelism', Recognize Customer Intent
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Credit Card Companies: Pay Heed to 'Multichannelism', Recognize Customer Intent

 
February 11, 2014

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  By Mini Swamy, TMCnet Contributor
 


Customers do like to figure out things on their own and many resort to using a company's self-service options when they encounter a problem. However, when it comes to interacting with a credit card provider, [24]/7 -- the intuitive customer experience company -- has a different tale to tell. Results of a survey released by it showed that fifty percent  of survey respondents began their interactions only with a phone call, before moving on to other channels for help.


The survey came up with some interesting results: a large majority used at least two different devices and at least three different channels when engaging with a credit card providers' customer service. Of those who started their interactions via a phone call, 30 percent went on to persist with the phone, while 25 percent used the website as the next preferred channel.

Part of the reason as to why customers are not too happy with the self-serve options is that many only serve to frustrate the very individual that it's supposed to help. By offering yesterday's IVR to today's “instant and impatient” customers, credit card companies are doing them a disservice.

“Customers want a smart IVR that is conversational, uses natural language and connects seamlessly to other channels and devices," said P.V. Kannan, co-founder and CEO of [24]7 -- in contrast to the typical 'one-size-fits-all'  approach.

And rightly so; when customers continue their phone interaction on the Web, they expect that the context of their previous phone call is maintained. They don't want to have to repeat themselves over and over again until they’re hoarse.

Kannan advocates the use of [24]7's smart speech solution, which reportedly leverages predictive analytics and big data, delivers intuitive speech experiences in an omnichannel setting and accurately predicts a caller’s intent -- a personalized, simplified path to resolution that would appear to meet customer expectations.

Dan Miller (News - Alert), a senior analyst at Opus Research, observes that the most successful companies are the ones that resolve issues quickly by deploying technologies that recognize customer intent and paths instinctively.

Today's connected customer is in the driver's seat and demands a totally different kind of customer service, from the one that was hitherto acceptable to him. Customers dictate and enterprises need to adapt. So, if the customer wants to start off with a phone call and then traverse the multichannel route, so be it. Enterprise must obey customers' wishes.

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