Some financial services organizations are pursuing growth through acquisitions, and profits through operational restructuring, technological economies of scale, and labor arbitrage enabled by the Internet. Other organizations are relying on customer intimacy and personalization to woo and keep customers. Common across the industry is the continued push to grab a larger wallet share of existing customers through differentiated service and expanding product offerings. Ultimately, the success of all strategy depends on that moment of truth when the customer calls, emails, or visits the web and the service or sales representative has to respond—consistently, appropriately, and quickly.
Industry challenges and eGain solutions
Customer service becomes the differentiator
With the commoditization of products and services, fuelled by greater access to competitive information over the web, customer service is one of the few ways organizations can differentiate themselves and increase market share.
- Some of the industry’s most agile organizations have set up truly distinctive and innovative customer engagement hubs with eGain’s products for web self-help, email response management, web collaboration, and knowledge management.
Improving customer experience on the web
The promised bounty of the web still eludes most organizations that have invested in new web-based channels to improve customer experience and reduce or deflect the cost of customer care.
- eGain’s mature, web-native suite of customer experience solutions have enabled leading global financial service organizations to successfully deploy their eService roadmaps.
BEST PRACTICES TO SUCCEED IN 2021 AND BEYOND
Avoid These Customer Service Mistakes
High cost of agent training
It can take years for agents to become effective in responding to customer inquiries because financial services products and services are complex and closely regulated.
- eGain’s agent knowledge tools help improve the speed and quality of responses in all service channels. They facilitate the introduction of new products and services, enable more flexible use of existing and temporary staff, and support the transition to outsourcing and offshoring. Our customers have achieved as much as a 25% increase in first-call resolutions with eGain Knowledge+AI™.
Web collaboration possibilities
Intricate financial discussions necessitate face-to-face interaction with customers, and that can be very expensive.
- Industry leaders use eGain Chat™ and eGain Cobrowse™ to offer a range of real-time collaboration options to their customers, ranging from text chat and cobrowsing to synchronized filling of forms and online meetings.
Increasing email volumes
Efficiently handling customer emails in various languages is hard enough for most global organizations. Add to that local customs, regulations, and compliance norms, and the task begins to look almost impossible.
- eGain’s multilingual, web-based email solution allows organizations to easily serve different geographies from a single installation. With eGain Mail, large volumes of email and webform inquiries are efficiently handled within a regulatory framework.
The productivity of customer-facing staff depends on a wide range of internal systems. Support for these systems is a complex challenge.
- eGain, through intranet-based guided Q&A solutions and knowledge bases for IT Support staff, has helped many companies improve the service levels provided by their internal IT Help Desks.