Feb 27, 2020 How Agent Analytics Bolsters CX for Financial-Services Firms
Financial-services firms manage a variety of interactions with customers—some basic and straight-forward, such as checking an account balance; others complex, such as advising clients on a business insurance plan.
As executive focus on delivering stellar customer experience increases, financial-services companies face growing competition for top customer ratings and client wins.
On the front lines for delivering excellent customer service are contact center agents. Coaching them, and continuously improving their skills and Key Performance Indicators, are vital to success.
At the same time, keeping agents happy results in them staying with the company longer, which in turn, improves CX. Companies that keep agent turnover to less than 15% see a 26% improvement in customer ratings.
Organizations that use agent analytics tools have an edge at improving success metrics. Today, 22.5% of financial-services companies use agent such tools. Typically part of contact center platforms, the tools gather data about agent performance, providing valuable information about areas where they are performing well and those that require improvement. They also provide data about agents as groups based on their geography, product expertise, and more—enabling artificial intelligence knowledge bases to route calls to the best agent group for the issue at hand.
For financial-services companies, the use of agent analytics has been very successful. For example, those using agent analytics saw a 108% improvement in customer ratings, compared to only a 1% improvement among those who didn’t use the tools. Operational costs dropped by 80% for those using agent analytics, compared to 32% not using agent analytics.
For more information on how financial-services firms use analytics to improve CX, view this webinar.