By Janet Jaiswal, Sr. Director, Product Marketing —
I don't think I'm alone in being more irked by financial services website failures than I am by failures on other online services. Maybe it's because there's more at stake. Worse still is the level of effort typically required to rectify the issue, since you usually have to go through multiple Customer Services Reps (CSRs). It's a common occurrence to be transferred to another agent—and often multiple agents as the issue is repeatedly escalated. Wouldn't it be better service if the first person you reach were able to take care of the issue? I know I'd switch to another bank in a heartbeat if I they were as good at this as, say, Zappos or Charles Schwab.
Of course, this issue plagues many companies across a variety of industries. And all those dissatisfied website customers take a toll. Not only do those companies lose business and customers, they also lose contact center staff—especially Level 1 CSRs, who are often on the receiving end of customer frustration.
I don't think I'm alone in being more irked by financial services website failures than I am by failures on other online services. Maybe it's because there's more at stake. Worse still is the level of effort typically required to rectify the issue, since you usually have to go through multiple Customer Services Reps (CSRs). It's a common occurrence to be transferred to another agent—and often multiple agents as the issue is repeatedly escalated. Wouldn't it be better service if the first person you reach were able to take care of the issue? I know I'd switch to another bank in a heartbeat if I they were as good at this as, say, Zappos or Charles Schwab.
Of course, this issue plagues many companies across a variety of industries. And all those dissatisfied website customers take a toll. Not only do those companies lose business and customers, they also lose contact center staff—especially Level 1 CSRs, who are often on the receiving end of customer frustration.
Product promotions aside, I believe Tealeaf's Customer Service Optimization (CSO) suite offers there is a better way to handle online issues. With Tealeaf, you can empower your CSRs to resolve customer issues with the first time they call. No need to transfer, no need to escalate and no need for your CSRs to experience unnecessary stress.
Let's go through an example to show how the Tealeaf CSO suite works. A customer tries to complete a trade before the close of market and runs into an issue. The customer calls the contact center for help. Asking only basic questions (who the customer is and why he's calling), the CSR is able to understand the heart of the problem (e.g., what the customer was doing before he got stuck, what he entered into each field before he encountered a problem, what browser he was using, etc.). Because the CSR is able to quickly understand the issue, she can offer a solution that resolves the customer's problem without having to escalate or transfer the call to another agent. And a satisfied customer not only means that the company retains that customer's business, it also means the CSR doesn't have to face the stress and pressure of dealing with an increasingly frustrated customer.
In summary, a Level 1 CSR can resolve the customer's problem without escalating. Just as importantly, that CSR can stay within average call handle times. In fact, Tealeaf customers have reduced both their average call handle times and the number of calls they escalate to Level 2 CSRs. Find out how Central Insurance was able to resolve customer issues without escalating while reducing their average call handle time by clicking here.
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