5 Ways to Balance Human and Digital Assistance

5 Ways to Balance Human and Digital Assistance

The past year has transformed the online customer experience, especially when it comes to banking. With this exponential increase in consumers who are transacting digitally with banks comes a deluge of useful data on what aspects of the customer experience are working and what aspects need some work.

Our very own Tara Sporrer, goMoxie’s SVP of Marketing, sat down with Payments Journal to help make sense of the customer experience learnings the last year has brought. Here are five key takeaways she shared on how you can better guide your customers for years to come.

1. Simple tasks aren’t always so simple

Customers are still sweating the small stuff. Our recent survey discovered that 55% of banking customers are still struggling with level 1 service issues like logging in, making transfers or payments, updating personal information, checking account balances, opening new accounts, or adding a new product or service. You can prevent these simple tasks from escalating to your contact center by proactively anticipating these struggles and providing the guidance your customers need to be successful.

2. Automation isn’t always the answer—but when it is, do it better

Companies need to better understand what types of customer service needs call for self-service and which one’s require help from a real person. Providing a better self-service experience, complemented with proactive digital guidance, can help ensure that live representatives have the time and capacity to handle more high-touch interactions, instead of being tied up with lower-level details. Implementing these strategies will allow for a decrease in contact volumes, lower wait times, and improved customer satisfaction across all channels.

3. Chatbots aren’t winning many friends

Chatbots may seem like an easy and effective way to communicate with struggling customers, but research shows customers don’t trust them. Our survey showed 60% of respondents acknowledged that they didn’t trust chatbots to communicate their issues effectively, and 57% said they’d prefer to interact with people. Although digital innovation can improve efficiency, be cautious of frustrating your customers and jeopardizing their loyalty. The ultimate costs can outweigh the benefits.

4. Social media is for kid photos and cat memes, not banking

Engaging with your customers is important but keeping those conversations in the appropriate platforms is even more so. When survey respondents were asked if they wanted to interact with their bank over social media, 48% said they prefer to stick to personal interactions with friends and family, and 25% found the idea too intrusive. Understanding your customers’ interaction preferences is essential in maintaining trust.

5. Digital is here to stay—because physical is here to stay

Although digital innovation is useful in some areas, when it comes it banking, customers still express a clear desire for in-person banking to remain available when needed. In our survey, 62% of customers said they want their bank to have a physical presence; of these respondents, 57% wanted the option to speak to a banker in person for major issues. In order to make this high-touch experience available and effective, banks need to make the most efficient use of digital channels. The more customers you can support through self-guided tools, the better you’ll be able to serve the remaining customers who do need live assistance.

Originally published by Payments Journal.