Why Adding Video to Your Contact Center Is a Game-Changer

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Today, the contact center is a strategic engine for the most successful credit unions because:

  • It’s a revenue driver, not just a support tool. The contact center has become the primary touchpoint for many transactions, including more complex ones. As branch traffic declines and credit unions implement more effective self-service tools, the contact center agent often represents the only human interaction for many members. While contact center agents still handle common transactions like changing an address or ordering a new checkbook, they are increasingly asked to identify member needs and help members navigate the organization’s portfolio of products and services.
  • It plays a critical role in moments of truth. When a member calls to report a stolen credit card or complain about extra fees on their statement, their emotions are often running high. The quality of the interaction is critical to ensure satisfaction and maintain loyalty.

However, traditional contact center channels—such as the phone, text chat, or email—don’t allow for the level of personal interaction required by more complex or emotionally driven tasks. It can be difficult to deal with unhappy or angry customers over the phone or text chat, and to establish a trusting relationship that encourages the customer to go beyond their initial inquiry and discuss more of their needs.

Adding a video capability to the contact center is a perfect way to overcome these challenges. By offering interactive video engagement to users of banking websites, mobile banking apps, ATMs, and ITMs, credit unions can enjoy:

  • Higher member engagement and satisfaction: Members feel they are better understood and their inquiries are handled more effectively
  • Improved management of members’ emotions: Interactions that are more personal result in better mutual understanding
  • Increased cross-selling and up-selling: With video it’s easier to gain members’ confidence and uncover new opportunities
  • Reduced average handling time and increased first call resolution rate: Handling inquiries more effectively has a positive impact on contact center KPIs
  • Greater contact center agent satisfaction and lower agent churn rate: Employee loyalty to the organization increases as roles becomes more rewarding

The video channel can be used as the primary inquiry mechanism, whereby the member selects a click-to-video-call button on the credit union website or mobile application. Or it can serve an escalation path for a conversation that is initiated via phone or online chat but requires a higher level of engagement. The agents can offer to switch to a video session when they feel it will add value to the conversation. The video solution can support additional features -- such as screen and document sharing -- that will make the interaction more productive.

The video contact center can also help transform the in-branch experience by reducing wait times and offering access to offsite expert resources. The member can be directed to a dedicated video-enabled room or a kiosk where they can remotely engage with the contact center agent who can best address their needs. Illinois-based Consumers Credit Union reported that when they implemented such a service, the average wait time went from 1.5 hours to under two minutes in some branches.

To learn more about how video can improve your contact center performance and all the other ways video banking can benefit your organization, watch our series of video banking use case videos.

Article provided by Vidyo.