As more consumers conduct business through digital channels, financial institutions struggle to effectively listen to their customers and prospects, despite the fact that digital technology is quite capable of supporting a strategy that includes “listening.”
Successful solutions employ digital listening to help banks and credit unions detect and proactively engage customers and members earlier in their customer journey.
ARGO Connects employs four pillars of digital listening including:
- Sensory Listening Detectors
Connects listens to a consumer’s digital behavior by monitoring activity such as website navigation and time-on-page. It senses potential issues and responsively and predictively helps resolve them. Sensory listening detectors support both digital marketing and fulfillment application solutions. ARGO employs sensory listening in conjunction with our decision management engine to analyze customer behavior and needs, and combined with accumulated knowledge of the customer, deploys the most appropriate digital and/or human channel response – all of which supports improved digital marketing, abandonment detection, issue detection and attrition risk.
- Personal Financial Planning
Recent studies show that over 80 percent of Americans experience some level of financial stress, and over 75 percent want individual assistance with their financial management. To meet this consumer demand, Accumulator, ARGO’s personal financial planning tool, provides financial institutions with a valuable listening and responding opportunity. Through Accumulator’s goal-centric approach, customers select primary and secondary goals such as meeting monthly expenses, housing, transportation, education, and/or retirement, and provide financial information including income, expenses, assets, and debt. By listening to customer goals and understanding their financial position, FIs can respond with relevant content and meaningful engagement. In the event that a customer’s self‑disclosed data indicates a high level of intent and high value, intelligent decisioning routes this customer to an appropriate staff member for personal follow up.
Typical static questionnaires ask the customer a series of questions without respect to their answers along the way. ARGO’s intelligent interactive questionnaires use the response to each question to determine the most appropriate next question. Because the question-and-answer framework is presented in a naturally conversational way, the customer feels like they are participating in a dialog. Satisfaction surveys allow customers the opportunity to communicate their experiences or raise concerns or complaints to their institution. Intelligent decisioning then routes the response through digital or human channels with appropriate campaigns depending on the nature of the customer-provided information, opportunity loss value, and probability.
- Customer Help Requests
Online help use, digital Chat, and other online and human assistance provide additional, valuable listening opportunities for banks and credit unions. When prospects ask about specific product offerings or request educational content, financial institutions can respond with relevant and timely assistance through automated and human channels.
Connects focuses on increasing overall customer satisfaction, eliminating frustrating barriers, and mitigating issues that might prevent a prospect from becoming a valuable lifetime customer. In doing so, financial institutions enhance customer experience in the digital environment by showing they are still capable of listening to – and serving -- their customers, regardless of channel.