Financial Services Sector contact centers perform poorly on all aspects of the Customer Experience, according to CX Snapshot report, released by The Taylor Reach Group

Failure to forge an Emotional connection restricts Financial Services Sales Potential

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CX Drivers

jargon, unsure agents and direct contradictions, limited the effectiveness of this acqusition channel

Toronto - ON (PRWEB) December 06, 2012

The Taylor Reach Group, Inc. (Taylor Reach) and Contextual Strategy Group, LLC (CSG) announced today the release of a CX Snapshot℠ report on Financial Services call centers. Taylor Reach and CSG completed calls employing an ‘acquisition scenario’ and assessed the call center ability to connect with callers on an Emotional and Rational level, as well as the effort a customer has to expend to complete their task.

While no dimension exceeded 50% for the industry, the strongest performing area for Financial Service contact centers was connecting to their customers on a rational level. This area relates to knowledge, training and systems. The sector score was 42.4%. Colin Taylor of Taylor Reach commented, “These calls were plagued with jargon, unsure agents and direct contradictions. It was surprising that on an acquisition call less than half of the centers made consistent and logical attempts to match the right product with a customer’s need and close the sale.”

Customer Effort had the lowest scores with an overall sector score of just 27.6% and a large variance between centers. The assessment showed long wait times of up to 110 seconds; hold times exceeding 5 minutes; complicated IVR’s transfers and hangups.

Bruce Lebowitz of CSG commented, “given that these calls were all acquisition calls, where the financial institution had a chance to secure a new customer, these results are disappointing indeed. For some institutions it was even difficult to find a toll-free number to call in the first place!”

Financial Services centers scored better on achieving an emotional connection and American Express lead all others across the ten areas assessed. The overall sector score was 40%. There was a direct correlation between scores, location of call centers and the use of third party vendors, with on-shore, proprietary call centers achieving the highest scores.

Overall sector performance across all dimensions ranged from a low of just 29% to a high score of 51%. For more information regarding the Financial Services sector report please contact either Colin Taylor or Bruce Lebowitz.

About CX Snapshot℠ - CX Snapshot℠ assesses the centers ability connect with customers on an Emotional and Rational level while also assessing the effort a customer must expend to complete their task. CX Snapshot can be deployed in less than ten days and provides an actionable Customer Experience scorecard. Measuring 30 variables across three dimensions, the CX Snapshot provides both quick-hit improvements and the knowledge to plot a long-term strategy. Where CX Snapshot is deployed against internal as well as external call centers it is possible to generate competitive intelligence and see how a call center is performing in specific interactions or in comparison with competitive centers.”

About The Taylor Reach Group, Inc.
The Toronto based Call and Contact Center consultancy was established in 2001 and today has offices in Toronto, New York, Atlanta and Sydney, Australia. Taylor Reach has served numerous Fortune 1000 companies and today boasts more than 14,000 agent positions globally and has received more than 30 awards for operational excellence. Visit Taylor Reach on the web at http://www.thetaylorreachgroup.com


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