Financial service companies are no strangers to pressure and uncertainty. Facing changing markets and growing consumer expectations can create a challenging work environment and make it difficult to please and attract consumers while earning enough revenue to expand and grow.
As a financial services provider, streamlining operations and increasing customer satisfaction are critical to helping you focus on the important challenges that move the needle. By making your operations more efficient and shifting your resources to focus on key growth factors instead, you can expand with more ease and save time and money in the process.
Hosted interactive voice response (IVR) is one such solution that streamlines operations and improves customer satisfaction simultaneously. Using IVR, you can make these processes more efficient and let them run automatically, allowing you to re-focus resources to profit-driving initiatives. Here are some key benefits you can expect from interactive voice response and why this technology is necessary for financial services businesses.
1. Increase satisfaction - Keep your clients updated
Use outbound interactive voice response to notify your clients and stakeholders about market shifts and financial news such as interest rates and loan quotes. Maybe your investors want up-to-date stock quotes, or your borrowers want the latest interest rates. Increased communication can quell uncertainty and keep your clients informed and educated, so they feel secure about their financial investments. Setting up mass notifications also saves you time and resources communicating with the people that would call your business instead to gather the same information.
2. Increase efficiency - Automate payment collection
With IVR, your customers can interact with your calls via a key press on their phones. Use this functionality to set up outbound calls to collect payments as recipients can input their data and pay directly through the phone without the need to speak to an agent. Set up your inbound IVR calls to collect payments as well. Add a payment option to your phone tree menu, and guide the caller through the payment process. To keep callers satisfied, give them the option to speak to a representative should they need further assistance or have any pressing questions.
3. Get customer data - Send surveys and polls
Since interactive voice response facilitates interaction between you and your recipient, businesses use it to send automated voice surveys to gather information. With a simple key press, your survey participants can communicate their answers and interact with your questions. Use surveys and polls to study investment habits and purchasing behavior, and retrieve demographic information that can help you gather more customer data and focus your target market.
4. Save time and money - Automate inbound calls
Interacting with every client and customer to answer their questions can rob your time and resources. When callers contact you, automate routine queries to eliminate the need for your agents to get on the phone. With interactive voice response, your callers will also appreciate the quick and efficient responses instead of waiting for an agent to answer their questions. Automate queries such as account balances, recent transactions, frequently asked questions, business hours, current interest rates and stock quotes.
Take advantage of CallFire’s industry-leading hosted IVR technology and put time and money back in your pocket while increasing customer satisfaction. To get started right away, sign up for a free account here.