As the new year approaches, financial services companies should be thinking about what they want to do differently and better in 2024 to improve their customer experience (CX).
Making your customer journey as seamless as possible not only improves customer satisfaction and loyalty, but can also bolster your bottom line:
- 70% of consumers say a consistent experience across channels is extremely or very important when choosing their primary bank
- 79% of financial customers would spend more for convenience
- 88% of insurance customers want more personalization from providers
- 77% of financial business leaders believe deeper personalization leads to better customer retention
Companies that don’t acknowledge and embrace changing expectations risk losing customers to brands that do. Yet companies must do so in a thoughtful and strategic manner that keeps costs in line along the way.
Customer intent will be a key CX driver
To resolve customers’ inquiries quickly and easily, financial services organizations need a deep understanding of why they’re reaching out to your contact center in the first place. Focusing on customer intents (the reasons people contact customer support) will benefit your customers and associates alike.
When associates have a clear idea of why cusumers are contacting a company, it provides a major advantage. Associates can have the information they need to provide resolutions at their fingertips, which means they’ll be ready to help customers as soon as they join the call, chat, or messaging session.
From the customers’ perspective, an intents-driven CX strategy helps ensure they get answers to their questions as quickly as possible, resulting in shorter wait times, less frustration, and a better overall experience.
In TTEC’s new strategy guide, “CX Trends 2024: 4 megatrends shaping the future of customer and employee experiences,” we identify the top customer intents for the banking and insurance industries, including sales-related questions and quote comparisons. We also offer real-life strategies you can start implementing now to make your CX operation more attuned to what your customers want and expect.
Of course, a key component of understanding your customers is diving into your data. Make sure you’re harnessing the power of data analytics to glean actionable insights. This will let you strengthen your connection with your customers and make your contact center more efficient.
In 2024, prioritize diving into customer intents and other data so you’ll be better positioned to deliver proactive CX. When you truly understand customer behavior, you can orchestrate pre-emptive and proactive interactions that achieve the best outcome for your customers and your business.
And once you know your industry’s and company’s top intents, you can thoughtfully determine which channels best serve those intents and implement them to increase customer satisfaction and keep costs down.
Gaining a deeper understanding of customers is just one of the megatrends TTEC has identified that will transform CX and employee experience in the coming year and beyond. For more, check out our full 2024 CX trends report.
