Bank and financial services call centers may be missing out on some excellent opportunities to sell more products to customers, according to new research from the Gallup polling and consulting organization.
In a survey of customers who engaged with a financial services call center, only 28 percent said the call center agent provided solutions that aligned with the customer’s current financial needs.
Even worse, only 23 percent of customers agreed that the call center agent was knowledgeable about the customer’s overall financial goals before discussing specific products.
Gallup Banking and Financial Services Researcher Beth Youra wrote: “In our retail banking research, we have discovered that call center employees successfully drive sales and conversion when they use tactics that are–not surprisingly–all about the customer and not about the bank. But most banks are failing to get it right.”
The article, posted on the Gallup Blog, is part of a series focusing on customer behavior and preferences in regard to financial institutions.
The series has helped break some preconceived notions about large banks and small banks. For example, it is often assumed that large banks have more product offerings and better technology, yet don’t connect as well with customers as small banks do. However, Gallup’s survey of customers found that large, national banks “do just as well or slightly better” than some smaller banks in helping customers manage their financial goals. Gallup found that if small banks are not good at creating customer connections, they will struggle to compete because they don’t have a big technology or product selection to help differentiate themselves from competitors.