Before diving into this topic we should know what the BFSI sector is? BFSI stands for Banking, Financial Services and Insurance. Banks like Axis, ICICI, and Bank of Baroda; Finance companies like Aditya Birla Capital, Bajaj Capitals and Insurance companies like LIC, Reliance life, etc. are included in this Sector.
Problems of BFSI Sector:
In today’s era, everything is technology driven no one likes to go to the bank anymore. Customers need the services on their fingertips and the key to customer retention is great customer service.
One of the major issues the BFSI sector faces currently is giving its customers access to the problem solvers. How many times have you complained that you cannot connect to Customer Service Representative of your bank on the call? How long have to been kept on hold before talking to the CSR usually these calls run upto hours!
This makes the entire experience bitter for the customer turning them away from your brand, they would not happily advocate your services to others. Customers don’t call even if they have a problem with your service because they don’t get connected with the expert for their problems.
Most banks have customers across India thus makes it difficult for them to reach everyone with solution to the problem raised. Sending instant revert to the customer’s query makes an impact to the customer it saves their time and makes the whole experience easy and pleasant. These customers are your brand ambassadors.
Important messages like OTPs, cash withdrawal, cash deposit, etc. should reach the customers instantly.
Failed Attempts:
As financial institutions struggle to solve these problems their Customer Service costs get higher, they are dependent on third-party call centers. Another major struggle is when they launch new services for their customers, how to get the message across to them? The print and social media ads have limited visibility. How to deliver the message directly to their target audiences?
Solution:
A Happy customer is the company’s best salesman. They always talk about the services they got to their acquaintances indirectly marketing your service and converting them into your customers.
The 2013 U.S. Retail Banking Satisfaction Study credits increase in customer satisfaction as they focused more in communication efforts from the big banks. Banks are expanding in innovation investments to increase customer satisfaction and also to generate qualified leads.
How BFSI Sector benefits with Missed Call Services:
- Missed call service can engage customers without them bearing any cost. By using IVR services we can transfer the call to relevant departments where customers can communicate to resolve their queries.
- It can be used in customer verification process, transactions or any other related activities.
- It gives instant response to the new inquires, thus response rate increases with help of missed call service.
- Enhances the quality of customer experience and gives a wide range of offers to the customers.
- Provides important CallToAction to the marketing efforts.
- Enables BFSI institutions to generate qualified leads.
- Helps in collecting real time feedback.
Key features of Missed Call services
- Toll-free number for the customer.
- Easy to use – automatic call disconnecting after one ring.
- Call analytics with reporting interface.
- OneRing has a large distributed cloud telephony platform with high TPS (Transactions per second) to capture every single lead on a pan India level campaign.
- Integration with 3rd party CRM is very simple.
OneRing has helped ICICI Bank and Axis Securities minimize their operational costs by more than 40%. With the automation of follow-ups, there was no loss of potential or unattended leads which helps to enhance the productive time.
If you are new to the concept of missed call marketing please refer to our blog detailing step by step process of integrating missed call services https://onering.in/blog/missed-call-marketing/
One missed call. Unlimited opportunities.