New Delhi, India, Oct 30, 2018 -- New York-based analytics company Verint Systems has come up with a new large-scale study of more than 36,000 consumers across 18 countries. Carried out in collaboration with Opinium Research LLP, key findings from the global research titled "Defining the Human Age: A Reflection on Customer Service in 2030" explore how technology, societal trends and customer preferences will shape customer engagement in the years to come.
The study provides a blueprint for how organizations can deliver experiences that will truly engage customers from today into 2030 and beyond. In India, more than 2000 consumers who have access to a digital platform participated in the research.
The quintessential Verint Digital Tipping research of 2000 Indian customers across the country categorically proclaims the customers’ preference for digital and self-service channels of engagement.
In an interaction with ETCIO.COM, Anil Chawla, MD Customer Engagement Solutions, Verint elaborates on the key trends in customer engagement and also provides advice for engaging the discerning customer and striking the balance in human and automation service experiences.
The rise of digital has led to a natural demand by Indian customers to communicate with brands via multiple channels to make payments, make an urgent inquiry, complaints, and purchasing.
Indian customers have really evolved now thanks to retail and telecom, they no longer want to settle down with generic products. They are demanding more personalized context now for any product. Thanks to all the content available on the mobile and the web, Indian consumers are more aware now. Indian consumers are studying the buying behaviors of their global peers.
The mature verticals are those which have been early adopters of mobile and web platforms. E-commerce and banking for sure. Look at the telecom vertical where customers get personalized plans basis their monthly expenditure. E-commerce sites promptly show customers’ preferences from their previous browsing history.
69 percent of the participating Indian consumers favor a chatbot to answer their queries, and 78 percent of the Indian respondents felt strongly about service providers’ self-serve/digital channels to offer better customer service. India takes leads amongst the 17 other surveyed countries.
Indian consumers come out in favor of deploying facial, voice and fingerprint verification to authenticate payments and verify their identity. Taking a cue from this key insight, India’s BFSI sector should invest in biometrics to expedite customer verification process.
On perception about digitization and automation of customer service
The right mix of technology and human channels of customer service will be key to implement sustainable customer engagement strategy. As customers are getting more comfortable in sharing their data for highly personalized services, it is imperative that organizations adopt transparency in every aspect of a customer’s journey.
Indian consumers want digital innovation to expedite sensitive services like identity verification and payment approvals. Indian consumers want digital intervention to expedite sensitive information like identity verification and payment redressals. Availability of devices also helps simplify identity verification. Currently, identity verification is largely done through voice biometrics which uses voice imprint. Voice biometrics becomes the first step of authentication,
In India, we follow two-step authentication which is one of the best initiatives implemented by the RBI. We either have a device number which can be a mobile number and then the voice print can be used to authenticate several financial transactions. Typical questions on a generic IVR can be traded with voice biometrics, saving a lot of operational costs.
Although enterprises offer biometrics led authentication as a service but they control it, for example, if the voice authentication is not 80%-90% full proof, agents do have a second line of defense and might ask a few additional questions from the customers, so that only the right customer has access to sensitive information.
On pitfalls to avoid while deploying multiple channels of customer engagement
Organizations should break the silos within the enterprise. With changing consumer behavior, enterprises must be superfluous and break the internal barriers and to allow data democratization. It is very important for enterprises to empower their employees and agents to service the customers in a manner that these silos are not visible to the customers. It is imperative to empower the employees through knowledge and process management so that they can cater to the customers’ query on the go itself. Text analytics integration is equally important for channels like e-mail,webchat, and social media.
Social media is all about real-time customer gratification. It is important that organizations unleash the potential of social media through text analytics. It is important to ratify a customer concern on social media in real time and prevent it from being viral. This not only takes care of the brand equity but fixing a problem which might be bottleneck for several of customers.
Neither the customer nor the enterprise should be dependent on one particular channel. In the digital age, Competition is passé. It’s all about building peers and nurturing an eco-system.
On key aspects of catering to the digital customers demanding instant gratification
Digital is mainstream and thanks to device and internet penetration, it is important to analyze customers’ behavior and emotions across all the channels. Speech and text analytics gives a 360-degree view of a customer’s journey across any channel. Map the customers’ journey and create a dashboard to offer a product/service in minimal turn-around time. Create a conversational bot rather than a chat bot as it will ease out the self-service channel. Indian consumers are becoming more aware and technology savvy. All of this has to be sealed by data security and privacy.
Posted by Veronica Silva Cusi, news correspondent
Verint Systems is a provider of analytic software-based solutions for the security and business intelligence markets. Verint solutions transform voice, video, and text into actionable intelligence - mission-critical insights for achieving strategic goals. Verint solutions are used in global and diverse markets, including: governments, law enforcement, and transportation; global corporations and financial institutions; retail and gaming establishments; and telecommunications and utility providers.
Published: Thursday, November 1, 2018
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