Jennifer Bailin, Director, Cisco Business Transformation Customer Experience, Cisco, and Joe Rigodanzo, Cisco Consulting Services, Cisco, explored the rapidly evolving customer journey during a Thought Leadership Spotlight to Argyle’s Customer Care membership at the 2016 Customer Care Leadership Forum in San Jose on March 30. In their presentation, the pair highlighted the value of using video as a tool to bolster communications between siloed departments within an organization.
The customer journey is complex and continues to change, particularly as new technologies become available.
To illustrate the new customer journey, Rigodanzo used the example of selling mortgages in a bank.
Buying a home is a big deal, and as such, many homebuyers prefer to work directly with a bank representative face to face. But what happens if you are unable to meet with a loan office immediately?
This can be a problem, particularly for a homebuyer who wants to make an offer on a house as soon as possible. As such, a homebuyer likely will go elsewhere in this scenario, as a bank is likely forced to compromise on customer experience.
“The alternative of having someone in that bank Monday through Friday and on Saturday morning is extremely expensive,” Rigodanzo pointed out.
It is insufficient for a bank to merely locate all of the points where a customer can leave after a poor customer experience. Instead, a bank needs to simulate the customer experience at the lowest possible level to gain the insights it needs to improve the customer experience consistently. And as a result, these insights can empower a bank to understand how to reduce its customer churn, both now and in the future.
“[Many work departments have] become so siloed between their branch and their contact center that they can’t really see a middle way.”
Creating a model that simulates loan referrals and applications often proves to be essential for banks. And with predictive systems in place, a bank can understand all of the factors that impact its customer interactions.
Furthermore, it is essential for a bank’s mortgage advisors to maximize their productivity. But in many cases, Rigodanzo noted, these advisors spend only a limited amount of time assisting customers and helping banks improve their customer experience levels.
“These mortgage advisors don’t actually spend that much time with customers,” he said. “The main reason is that interviews with customers almost always end early.”
As a result, there often is a lot of idle time for mortgage advisors. This results in unused or wasted resources — something that no business can afford.
How can you discover if your resource model makes sense? Bridging the gap between a company’s in-house and contact center staff is paramount. And with video, businesses can reap the benefits of a high-quality, affordable communications tool.
“[Many work departments have] become so siloed between their branch and their contact center that they can’t really see a middle way,” Rigodanzo said. “We have presented video as that middle way.”
Using video as a shared channel has helped many banks revamp their resource strategy. Video can open the doors of communication between both in-house and contact center professionals, ensuring both parties can collaborate and work toward achieving common goals. Plus, video serves as a viable option for businesses of all sizes, allowing them to deliver a shared channel that in-house and contact center employees can use to connect with one another at any time.
Deploying video may seem challenging but can deliver long-lasting benefits for a business. It empowers employees at all levels to communicate with one another to bolster their customer experience. Moreover, customers likely can receive better support, which can lead to improved customer loyalty.
“The alternative of having someone in that bank Monday through Friday and on Saturday morning is extremely expensive.”
Today’s businesses need to rethink their processes and resource model to enhance their customer experience levels. They also need to understand what their return on investment (ROI) will be based on the technologies they implement. But in order to do so, these companies need to understand both the costs and benefits of various tools.
Unfortunately, siloed departments still remain major hurdles for organizations that want to bolster the customer experience consistently.
When employees lack the skills and technologies to collaborate, customers often suffer. As such, customers may receive poor support at a crucial time, or no support at all. This could result in a loss of customers, along with long-term damage to a business’ reputation.
Comparatively, an organization that gives its employees the tools to collaborate with one another can thrive for an extended period of time.
This organization will be able to answer customers’ questions and concerns immediately. It also may possess the ability to gain a competitive advantage over its rivals, as it will be able to prioritize the customer experience day after day.