How a better customer experience can improve your bottom line

Posted on: July 30th, 2015 by Art Barger

What’s the business impact of providing excellent customer service? According to a recent report, customers stick with brands six times longer after a good experience than those who have bad customer experiences.

In the article, “How a Great Customer Experience Is Really Delivered,” the Temkin Group found that a great customer experience helps customers accomplish all of their needs with minimal effort, trust, and a high degree of delight. Added up, this creates a positive perception that ultimately determines if a customer will stay loyal to the brand or not.

Knowing how much your customer experience influences the decision-making process should be a call to action for banks and businesses to improve how they serve their customers. For the telephone channel, this means streamlining the caller authentication process so customers can get their issues resolved faster.

When using traditional caller identification methods like knowledge-based authentication (KBA), the customer experience is interrupted by telephone interrogations that require call center agents to ask callers a bunch of security questions to confirm that the caller is who they say they are. This can take anywhere from 30 seconds to a minute or two before the customer gets the opportunity to explain why he or she called in the first place.

When the customer starts to get impatient or frustrated, any delay can have an immediate impact on their experience. On top of that, KBA solutions are non-predictive in today’s contact center environment as they can easily be defeated by crooks using your customers’ personal information to correctly answer standard challenge questions. So, instead of improving the efficiency and security of your call center operations, KBA can damage your relationship with your valued customers, as well as put their sensitive data at risk.

This is why automating the authentication process can win over your customers, and in doing so, generate more long-term revenue.

By using an automated solution like the TRUSTID® Physical Caller Authentication, customers are validated before the call even takes place. Identifying the exact location of the calling device removes the need to interrogate customers over the phone. Instead of starting the conversation on a level of distrust and suspicion, agents phone representatives can begin serving your good customers’ needs the moment the phone is picked up. Known spoofed calls don’t even reach an operator, so fraud is thrown out of the equation.

The end result is delivering a more efficient and secure customer experience that improves the perception of your corporate image and keeps customers loyal to your brand, both of which have a direct impact on your bottom line.