Reduce Engagement Costs with True Omnichannel
TDECU, the largest credit union in Houston and the 4th largest in Texas, with over 260,000 members found: “Nobody touches our members or impacts the profitability of my organization more than LiveVox. It’s low cost, highly effective, easy to use, and lets me focus on teaching my staff how to run the business. So many of our members are world travelers and now we can reach them wherever they are.”
So here’s how we do it:
Move to the cloud
If you haven’t already moved to the could, it’s time. Cloud-based contact center software saves you the costs of buying, servicing, storing and upgrading hardware and software. It also keeps you current, flexible, scalable and more secure.
Cloud computing also saves you the costs of employing agents in one location. With cloud-based omnichannel, agents can work anywhere in the world, even at home, with access to all the same tools but with much lower overhead for you.
Provide integrated multi-channels
With web chat and SMS in such high demand, credit unions need to offer an integrated system that includes customers’ channel or channels of choice. Since the traditional scenario of one agent servicing one customer at a time by voice is by far the most expensive, adding other communication options saves your organization money.
Since people communicating by chat and text generally multi-task, leaving pauses in their communications, agents can handle several service inquiries at once across multiple channels, taking the customer-to-agent ratio from 1-to-1 in a voice scenario up to a 5-to-1.
To minimize costs while optimizing customer experience, LiveVox incorporates these features into our omnichannel platform:
- AI-powered chatbots on your website chat and SMS channels for simple tasks.
- A seamless connection from chatbot to agent by offering a button for the transfer. The continuous member journey may go, for example, from SMS to voice to Email, efficiently using the strengths of each channel for various touch points. Agents see the information from all channels in one place, so there’s no delay and nothing has to be repeated.
- The option for callback or switch to SMS from IVR allows the agent to serve more customers with less wait, reducing inbound call volume.
Establish robust self-serve options
Anything customers can do without an agent and without reducing satisfaction (or even improving their experience) will save staffing costs. True omnichannel offers many self-serve features your customers and you will both appreciate. With omnichannel, members can independently perform simpler activities, search a knowledge base to answer their questions, or file a ticket for help.
Over 60% of US consumers prefer an automated self-service, such as a website or mobile app, for simple customer service tasks.
Even if customers need to talk to an agent, LiveVox’s IVR offers members in-queue self-service and callback capabilities to decrease the frustration of waiting, which may resolve some issues without an agent, and make agent time more efficient. Customers can schedule a specific call-back time,find knowledge base information, or switch to another communication channel with a tap of a button. By offering this, credit unions save the huge cost of over-staffing at times when call volume is low to be sure they have enough agents when call volume is high.
Offer great customer experience
Bad experiences with a company are expensive. According to Temkin’s 2018 research, banks and credit card issuers with $1 billion annual revenues who implement moderate improvement in customer experience stand to increase revenue over three years by $806-$816 million.
Surveys consistently show that customers want to connect on their channels of choice, in a personalized way and without waiting or repeating their story. Using omnichannel, credit unions can improve customer experience and reduce costs.
Give agents tools they need to be efficient
When agents work with software that is easy to learn and powerful enough to make their job easier and more automated, they are more efficient, which serves customers better, and reduces the significant costs of both frustrated customers and staff turnover. Here’s how the LiveVox platform helps your agents achieve more efficiency:
We provide everything your agents need on one platform, on one pane of glass. Less integrated systems require agents to switch between platforms to do their job. With LiveVox, all the tools are instantly at agents’ fingertips, including a robust agent knowledge base to avoid multiple calls and excess response time.
We also provide data derived from these integrated systems. Agents can view insights into customer journey analytics on-the-fly with minimal reliance on IT. Equipping contact center agents with a unified customer profile enables the agents to know the customer upon the connection, shrinking average handle times.Two examples include: Screen Pops that tell agents exactly who is calling and why, and Multichannel Contact History that tell agents exactly what the customer has gone through.
Our integrated platform automates processes that used to take enormous amounts of time and money to do manually, from sending out surveys for feedback or launching bulk email campaigns to analyzing data and generating reports that inform high-level decision-making. Our AI-powered features, such as chatbots can shorten or eliminate time spent with an agent. Customers can also file a ticket as a self-serve option. With automated post-call IVR-surveys, contact centers can gain feedback to optimize customer satisfaction.
LiveVox’s intuitive, modern IVR self-service solution significantly reduces routine call volumes by providing quick, accurate answers to simple customer queries, such as information about their accounts, daily interest rates or operating hours. Our extensive knowledge base system also saves valuable agent time.
When customers need an agent, automation features intelligently route them to the right agent the first time. Routing configurations are easily created through a few clicks of a button and are highly customizable based on business requirements, including Account Ownership, Last Agent, Agent Teams, Skill Based Routing, and more.
Our integrated, powerful tools for monitoring agent performance and optimizing scheduling support managers to supercharge the efficiency of the contact center.
LiveVox is a leading provider of enterprise cloud contact center solutions, managing more than 14+ billion interactions a year across a multichannel environment. With over 15 years of pure cloud expertise, we empower contact center leaders to drive effective engagement strategies on the consumer’s channel of choice. Our leading-edge risk mitigation and security capabilities help clients quickly adapt to a changing business environment. With new features released quarterly, LiveVox remains at the forefront of cloud contact center innovation. Supported by over 450 employees and rapidly growing, we are headquartered in San Francisco with offices in Atlanta, Denver, Bangalore, and Colombia. Request a demo.