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New Survey Finds Consumers Would Use Visual IVR for Customer Service Needs If Given the OptionCallVU, the leading provider of innovative Omni-Channel solutions that enable organizations to engage customers in their channels of choice, announced today the results of its semi-annual survey of bank customers' preferences in the United States. The study found that consumers, including Baby Boomer and Gen X populations, continue to be interested in self-service options as a way to improve efficiency and gain confidence in their ability to solve simple banking-related problems themselves - checking balances, transferring money, even paying a bill. In addition, more banks than ever are pursuing their own digital transformation by offering a variety of self-service solutions, including web, social, and apps. For banks, moving customer interactions to the digital space means saving time, freeing up staff to handle more urgent matters, and putting greater emphasis on the customer's overall experience. This is especially important considering a study conducted last year by NewVoiceMedia, which reported that companies lost a whopping $62 billion due to bad customer service. Consumers make purchasing decisions based on their service experience, not on the cost of service, and it showed. That said, despite all the technological advances in customer care, the primary customer go-to option remains the phone. As with all things digital, there is a learning curve, so customer service departments face a challenge in helping customers understand how easy digital channels are to use and the valuable time callers could save by embracing the technology solutions made available to them. For example, survey results show that touch-tone automated phone menus and speech-based Interactive Voice Response (IVR) success rates hover around 50%, while 80% of respondents indicated they would use visual IVR, which is significantly more successful than traditionalIVR solutions. This strongly indicates not only that there is room for improvement in speech-based IVR, but also that consumers are more than willing to try new self-service focused technologies. Additional key findings include:
For the full survey results go to: https://pages.callvu.com/wp-customer-service-trends "Financial institutions are investing heavily in technological advances to improve customer service, yet surprisingly, people still use the most traditional of options: calling," said Ori Faran, co-founder and CEO of CallVU. "Banks and other service providers must take note of this tendency and pursue creative paths to migrate their customers to existing digital self-service. Visual IVR is the ideal choice because it offers callers simple web-based menus that drive them to a fully digital experience in a friendly and intuitive manner."
Enabling Digital Transformation Customers who still prefer to engage an agent enjoy CallVU's rich collaborative environment. This solution enables customers and agents to share screens, conduct video chats, browse, fill out and sign documents online, and much more, simplifying the customer journey and improving customer satisfaction.
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