February 4, 2020 | By

CXNext Live: How to Invest in CX Technology without Losing a Personal Touch

Many companies are reluctant to invest in technology for fear of sacrificing a personal touch. Meanwhile, they’re grappling with how to grow their business and compete at scale with some of the behemoths in their industry. Credit unions are a great example. Often, it’s that personal touch that sets them apart from big bank competitors.

Fresh from the event “The Future of the Credit Union Call Center,” we gathered the top 5 CX challenges companies of all kinds are facing today with real-world insights we heard from credit unions.

5 big CX challenges that can be overcome:

1.     Investing in technology while staying personal.

We all know about the Amazon and Uber effect. Customers expect to get what they want when they want it. This is now the world of expectations all companies must compete in.

When your competitive differentiator is personal service, technology may feel like a barrier between you and your customers. At the same time, you still want to scale and compete.

What we see with a lot of credit unions is that they have the potential to reach more customers or members, but they aren’t able to take advantage of it because they must provide highly personal customer service. With the right blend of technology, maybe it’s making the process of finding information easier for the member or making transactions more convenient, you don’t have to expend so much human effort. You can expand into a new geographic region or new persona while fully serving your customer’s needs.

2.     Switching from inside-out to outside-in thinking.

Many organizations simply offer the information they think their customers need to know (from the inside out) without stopping to ask the customers what they really need (from the outside in).

One example is a credit union offering wire transfer information. But their members don’t use that language. They just know they need to send money to grandma. That disconnect can be avoided by understanding your customers and using their language to answer their questions.

To get there, talk to your customers. Customers are not shy about what they like or don’t like. Going back to our theme around scale, technology can also help capture this type of insight from customers. By taking an outside-in approach and letting the customer determine the language they want to use or how they want to interact with you, you can really provide personalized experience at scale.

3.     Juggling personal support, growth, and speed.

Being able to offer and grow your business with personal support may be central to your organization’s mission, but that will always need to be balanced with doing it faster.

Like a lot of organizations, credit unions want to offer that white glove type of service. That means being friendly on the phone, but it’s also about making sure your agent has the appropriate knowledge at their fingertips to be able to efficiently help the member, like what actions they have already taken and more about customer history. The right technology puts this information front and center so agents can work efficiently.

Another opportunity is to teach customers how to self-serve in the future. For example, a wire transfer is not necessarily something that a human needs to help with. If that process is not easily accessible or easy for members, they’re going to need human help. As the agent walks them through it, it’s important to capture that insight for the rest of the organization. This information can help another agent resolve similar issues faster in the future, and also help highlight where changes need to be made to make self-service easier in the future.

4.     Empowering agents without overwhelming them.

There’s often a lot of information in the heads of frontline employees, but organizations don’t have a way to capture it. You want to empower agents to contribute their knowledge for the company’s benefit. The problem is, agents already have a lot to deal with.

One credit union said their agents have five monitors to look at while trying to provide personalized, helpful, friendly service to a member. So adding another task is a big ask.

It’s important to centralize the agent’s workflow into one easy-to-use solution – one place where agents can find information and provide their insights. It should be as easy as, “Okay, I just gave this information to the customer, and now with the click of a button, I can make sure it’s part of our centralized knowledge.”

5.     Connecting siloed teams and business units.

Many credit union agents are tasked with cross-selling or upselling while talking to members, but they don’t always know when a new promotion is going on. Without that up-to-date information from marketing, they’re completely losing the opportunity to add value for that member.

Having a single source of information that all teams can access and contribute to connects these dots without having to go through a longer process of finding information that the whole organization can benefit from.

What does this look like in the real world? One of our customers has a main agent portal that displays banners at the top with daily news or important information. This is populated by marketing, who has access to go in and update this information.

When teams share ownership of information like this, it benefits everyone across the organization. It creates a more consistent customer experience, and it’s scalable in a way that maintaining and cross-referencing separate silos will never be.

It all boils down to this. Investing in CX technology without losing the personal touch requires knowing your customer journey to solve for their needs (which may be different from yours), and then with that information, siphoning off some tasks to self-service and teaching customers how to use it more often. This opens the opportunity to create a more personal, more strategic agent with tools that enable them to be more efficient during engagements and then to spread their knowledge across the organization for everyone’s benefit.

For much more on these five challenges, be sure to watch our full conversation between Erica Mayshar from our solutions consulting team and Chris Savio from our product marketing team on CXNext Live: Why Investing in CX Technology Doesn’t Mean Losing the Personal Touch.

About CXNext Live

Tune in weekly as we dig into topics focused around building better customer experiences. In these episodes, LogMeIn’s Ryan Lester, Senior Director of Customer Engagement Technologies, and guests from various roles and backgrounds discuss CX strategy, technology and market trends, recent events, and real-world examples. Find details on the next episode and past recordings at LinkedIn #CXNextLive.

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