Multi Channel Preference Survey for the Banking Industry

Since the emergence of multi-channel self-service, there is a growing disconnect between the typical strategy employed in telephone self-service design and what many customers actually need. A new Nuance report details the results of a commissioned survey which attempts to uncover customer channel preferences for an array of banking tasks, including recommendations for optimizing the IVR to both accommodate those preferences and minimize the frustrations associated with today’s multi-channel servicing climate.

Many of Nuance’s customers have a multi-channel customer contact strategy, ranging from having both web and phone channels to complete suites of mobile applications, email, and SMS strategies. The problem is, it’s not uncommon for each channel to be viewed as a silo – complete with separate business ownership, different design teams, disparate backend data sources, and disjointed reporting – all of which creates an unsatisfactory experience for customers who transact across multiple channels.

The percentage of customers who willingly use multiple channels to interact with a company is a large majority and growing every year. Simultaneously, customers cite the need to change channels during the resolution of a single task as a key driver for dissatisfaction.1  With the voice channel being the preferred escalation channel, callers are frustrated before even dialing the phone. This puts extra pressure on call centers to successfully adapt to the current multi-channel climate. Given this pressure, Nuance has increasingly heard demands from customers for a cross-channel perspective on their telephone contact strategies. And if not, it belongs on everyone’s radar.

From a broad, multi-channel perspective, Nuance recommends that all businesses approach their call center and/or customer contact roadmaps by:

• Acknowledging the voice channel as just one of many options, and treating it as an integral part of an overall customer contact strategy
• Understanding how the customer experience in other channels can have a direct affect on his or her experience within the voice channel
 
However, despite all the industry publications that point to multi-channel as a hotbed of activity, something has been missing from the conversation. In order to help optimize any contact channel, those responsible require access to more specific detail on the nature of customers’ channel preferences, as well as the causes and motivations for moving from one channel to another. Read the entire study – Multi Channel Preference Survey for the Banking Industry.

1. Stop Delighting Your Customers – Harvard Business Review, July-August 2010

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